Third Party & Supplier Risk Management Software Glossary: Key Terms & Concepts

A tax is a governmental mandatory financial charge or levy imposed on a taxpayer to fund certain public expenses. The taxation system is critical for a country's economy since money is req...read more

A self-service portal is a website or app that enables workers (or external clients for externally visible support providers) to help themselves when they require assistance, information, ...read more

Supplier Management covers the process of sourcing, selecting, and managing suppliers to keep the supply chain running efficiently. It helps organizations manage vendor relationships and c...read more

Financial management is a process of planning, organizing, regulating, and monitoring financial resources to meet the goals and objectives. It is ideal for controlling an organization's ec...read more

A system or process for capturing, tracking and storing electronic documents such as PDFs, word processing files, and digital photographs of paper-based content is known as document manage...read more

Portfolio management is means managing an individual's assets in order to optimize earnings over a specific period of time. Project portfolio management (PPM) is used by project managers a...read more

Collaboration has received a lot of attention in the marketing world recently. It's taking off in a big way but still has many questions surrounding it that make the majority of business o...read more

Alert Notifications are an essential feature of software that provide users with real-time updates and important information. These notifications serve as a way to keep users informed and ...read more

Sourcing management is a key functionality in software that allows users to manage and streamline the procurement process. It is a central platform for businesses to track, monitor, and co...read more

Benchmarking is the process of comparing a company's success to that of other firms in its industry to discover if there is a performance gap that can be closed by improving your own. Exam...read more

A real-time email marketing dashboard displays metrics. This allows individuals to track the effectiveness of an email marketing initiatives, as well as provide insight into what they can ...read more

Workflow is a collection of tasks that work together to process a batch of data. A workflow encompasses everything from creating assets to integrating them into a digital solution, submitt...read more

Machine learning is a powerful technology that allows computers to learn and improve from data without being explicitly programmed. This innovative approach to problem-solving is increasin...read more

The approval workflow is a standard corporate procedure in which data must be signed off at a given point. Approval procedures necessitate various checks from a range of stakeholders throu...read more

Asset management is the practise of keeping track of your assets. Asset management allows you to efficiently manage assets while also extending their lifespan. With good asset management, ...read more