Every term, clearly defined.

3-Way Match

An accounts payable control that verifies the alignment of three documents before approving a vendor invoice f…

HRMSPerformance

360-Degree Feedback

A performance assessment method that collects structured input from multiple sources — peers, direct reports, …

HRMSPerformance

9-Box Grid

A talent evaluation matrix that plots employees across two axes — performance (low to high) and potential (low…

Absenteeism Rate

A KPI measuring the percentage of scheduled work time lost to unplanned absences over a specific period. Calcu…

Accrual

The rate at which an employee earns leave entitlement over time — for example, 1.5 days per month. Leave accru…

Applicant Tracking System (ATS)

A software tool that manages candidates as they move through each stage of the hiring pipeline — from applicat…

Arrears

Compensation owed for work performed in a previous pay period but paid in the current one — typically arising …

Attendance Management

The system and processes for tracking when employees work — including clock-in/out times, total hours, late ar…

HRMSExit Management

Attrition Rate

A KPI measuring the percentage of employees who leave an organisation over a given period, calculated as (numb…

HRMSCompliance

Audit Trail

A chronological, tamper-evident log of every change made within the system — recording who changed what, when,…

Bench Time

The period during which a billable resource is not assigned to any client project and is therefore generating …

PSATime & Expense Management

Billable vs. Non-Billable

Billable hours are time spent on client-facing work that can be charged to a project invoice. Non-billable hou…

Billing Rate vs. Cost Rate

Billing rate is the hourly or daily rate charged to the client for a resource's time. Cost rate is the interna…

Burn Rate

The rate at which a project is consuming its allocated budget, expressed as cost per unit of time (e.g., weekl…

Capacity Planning

The forward-looking process of forecasting project demand and comparing it against available resource supply t…

Carry Forward

A leave policy that allows unused leave days from one cycle to roll over into the next — either in full or cap…

Change Request (CR)

A formal document raised to propose a modification to the agreed scope, cost, timeline, or resource plan of a …

Cash FlowFinance

Chart of Accounts (COA)

The structured index of every financial account used by the company's accounting system to categorise and reco…

Client / Customer

The individual or organisation that purchases products or services from the company. In a finance system, a cl…

HRMSCompliance

Compliance

Adherence to applicable employment laws, labour codes, data protection regulations (such as GDPR), and interna…

Confirmed vs. Tentative Allocation

A distinction in resource planning between committed assignments (confirmed) and anticipated assignments that …

Cost-per-Hire

A recruitment KPI calculated by dividing total recruitment costs — including job board fees, agency fees, inte…

Credit Memo

A formal document issued to a client to reduce the amount they owe, typically due to a product return, billing…

PSAIntegration & Systems

CRM Integration

The connection between a PSA platform and a CRM system such as Salesforce or HubSpot, enabling pipeline visibi…

CTC / Net Salary

CTC (Cost to Company) is the total annual expenditure an employer incurs for an employee, including gross sala…

Days Sales Outstanding (DSO)

A cash flow KPI measuring the average number of days between issuing an invoice and receiving payment. Calcula…

Deliverable

A specific, measurable output — whether a document, software release, report, or completed service — that must…

HRMSOnboarding

Employee Lifecycle

The complete journey an employee takes within an organisation — from the moment they are hired through onboard…

Employee Self-Service (ESS)

A self-service portal that lets employees independently manage routine HR tasks — such as applying for leave, …

Cash FlowFinance

Entity / Subsidiary

Distinct legal units within a corporate group — for example, country-specific subsidiaries or divisions with s…

PSAIntegration & Systems

ERP Integration

The connection between a PSA platform and a finance or ERP system, enabling approved project costs, invoices, …

Estimate at Completion (EAC)

A forward-looking forecast of the total cost a project will incur by the time it is finished, calculated from …

PSATime & Expense Management

Expense Policy

A set of rules and guidelines governing which project-related expenses are reimbursable, the maximum allowable…

Expenses

Operational costs incurred by the company or its employees — such as travel, accommodation, software subscript…

Fixed Fee / Fixed Price

A billing arrangement where the total project cost is agreed upfront for a defined scope, regardless of the ac…

FTE (Full-Time Equivalent)

A standardised unit for measuring workload, where 1.0 FTE represents one employee working full-time hours and …

HRMSExit Management

Full & Final Settlement (F&F)

The final payroll disbursement made to a departing employee, covering all outstanding salary, encashable leave…

Cash FlowFinance

General Ledger (GL)

The master record of every financial transaction within a company, organised by account code and period. Every…

Geofencing

A GPS-based restriction that only allows employees to clock in or out when their device is within a defined ph…

Geotagging

The automatic capture of an employee's GPS coordinates at the moment they clock in or out, which is then store…

GRN (Goods Received Note)

A formal internal document created when goods are physically received from a vendor, confirming that the items…

Headcount

The total number of employees on an organisation's payroll at a given point in time. Headcount is tracked for …

HRMS

Human Resource Management System. A centralised software platform that manages all HR operations including emp…

Invoice

The official commercial document issued by the company to a client requesting payment for goods delivered or s…

Item / SKU

A Stock Keeping Unit (SKU) is a unique identifier for a tangible product sold or purchased by the company. Ite…

Landed Cost

The total cost of a purchased product once it has arrived at the company's location, including the purchase pr…

Lead / Prospect

A lead is an unqualified contact who has shown interest but whose fit and intent have not yet been confirmed. …

Leave Balance

The number of leave days an employee currently has available to take, as shown in their HRMS account. It refle…

Leave Management System

The module within an HRMS that manages the full leave lifecycle — from policy configuration and leave type set…

Manager Self-Service (MSS)

A dedicated portal that gives managers the tools to oversee their team's HR activities — including approving l…

Master Data

The centralised, authoritative records that define the core entities of a business — clients, vendors, items, …

HRMSExit Management

Offboarding

The structured process of managing an employee's departure from the organisation — covering resignation accept…

HRMSOnboarding

Onboarding

The structured process of integrating a new employee into the organisation — covering documentation, role orie…

Org Chart

A visual representation of a company's hierarchy — showing reporting lines, team structures, and role relation…

Pay Frequency

The schedule on which payroll is run and employees are paid — commonly monthly, bi-weekly, or weekly. Pay freq…

Payments (AP)

Accounts Payable represents money owed by the company to its vendors and suppliers for goods and services rece…

Payroll

The process of calculating and disbursing employee salaries, wages, bonuses, and deductions for a given pay pe…

PF / ESI / Gratuity

Three statutory employee benefits in India: Provident Fund (PF) is a retirement savings scheme with employer a…

HRMSPerformance

PMS / Appraisal

Performance Management System. The structured process of setting employee goals, tracking progress, conducting…

Project Backlog

The total contracted and committed value of work that has been sold but not yet delivered or invoiced. A healt…

Project Margin

A measure of project profitability calculated as (revenue − cost) ÷ revenue, expressed as a percentage. Projec…

Proposals

Formal documents presented to a prospective client that outline a comprehensive solution, scope of work, value…

HRMSOnboarding

Provisioning

The act of setting up all IT assets, software licences, system access credentials, and physical equipment a ne…

Purchase Order (PO)

A legally binding commercial document sent by the company to a vendor authorising the purchase of specified go…

Quotation

A formal, priced document issued to a client that specifies the goods or services to be provided, the agreed q…

Realized Rate

The actual average hourly rate earned on a project after applying discounts, write-offs, and billing inefficie…

Receivable (AR)

Accounts Receivable represents money owed to the company by clients for invoiced goods or services that have n…

Received PO

A Purchase Order issued by the client to the company, authorising the purchase of specified goods or services …

Received Quotes

Competitive pricing documents received from vendors in response to a Request for Quotation (RFQ). Comparing re…

Recruitment Management

The end-to-end process of sourcing, screening, and hiring candidates into an organisation. It covers job posti…

Resource Allocation

The process of assigning the right people to the right projects based on skills, seniority, availability, and …

Resource Leveling

A scheduling technique that adjusts project timelines, task assignments, or team structures to eliminate resou…

Resource Utilization

The percentage of a resource's total available capacity that is spent on billable or productive work. Calculat…

Revenue Leakage

The loss of revenue that should have been earned but was not captured — typically caused by unbilled work, tim…

Revenue Recognition

The accounting principle that governs when earned revenue is recorded in the financial statements, as defined …

Scope Creep

The uncontrolled expansion of a project's scope beyond what was originally defined in the SOW, typically witho…

Service

An intangible offering billed to a client based on time, effort, or specific deliverables rather than physical…

Shift Management / Roster

The planning and scheduling of employee work shifts, including defining shift patterns, assigning employees to…

Skill Matrix

A structured mapping of employees' skills, certifications, and proficiency levels against the competencies req…

Statement of Work (SOW)

A formal legal document that defines the scope, deliverables, timeline, cost, acceptance criteria, and respons…

Statutory Deductions

Legally mandated withholdings from employee salaries, including income tax, Provident Fund (PF), Employee Stat…

Time & Materials (T&M)

A billing model where the client is invoiced for the actual hours worked at an agreed billing rate, plus any r…

Time-to-Hire

A key recruitment KPI measuring the average number of days between a job posting going live and a candidate ac…

Timesheet

A structured record of the hours an employee spends on specific tasks, projects, or clients during a given per…

PSATime & Expense Management

Timesheet Compliance

A measure of how accurately and promptly team members submit their time entries relative to the required sched…

UOM (Unit of Measure)

The standard unit used to quantify an item or service in a transaction — for example, Piece, Hour, Kilogram, o…

Utilization Target

The expected billable utilization percentage set for a given role or team — typically in the range of 75–85% f…

Variable Pay

Performance-based compensation paid in addition to base salary, including bonuses, commissions, and incentive …

Vendor / Supplier

The entity that provides goods or services to the company. Vendor master data governs purchase order generatio…

Work in Progress (WIP)

Revenue that has been earned through delivered work but has not yet been invoiced to the client. High WIP bala…