Glossary of Terms

Welcome to the Globolosys Outsourcing Glossary of Terms page. Here you will find definitions and explanations of common terms and concepts used in the outsourcing industry. This glossary is designed to help you better understand the language and terminology we use in our services and communications.

Account Management

• Definition: The process of managing and nurturing client relationships to ensure satisfaction and long-term engagement.
• Example: Our account management team regularly checks in with clients to address any concerns and optimize service delivery.

Artificial Intelligence (AI)

• Definition: The simulation of human intelligence processes by machines, especially computer systems.
• Example: We use AI-driven tools to enhance customer support and automate routine tasks.

Back Office Operations

• Definition: Administrative and support tasks that do not involve direct interaction with customers, such as data entry and payroll processing.
• Example: Our back office operations help businesses manage their administrative workload efficiently.

Business Process Outsourcing (BPO)

• Definition: Contracting specific business functions, such as customer service or accounting, to an external service provider.
• Example: Many companies use BPO to reduce costs and focus on core business activities.

Customer Relationship Management (CRM)

• Definition: Strategies, practices, and technologies used to manage and analyze customer interactions and data throughout the customer lifecycle.
• Example: We integrate CRM systems to help businesses maintain and improve their customer relationships.

Customer Support

• Definition: Assistance provided to customers before, during, and after purchasing products or services to ensure satisfaction and problem resolution.
• Example: Our customer support team is available 24/7 to help clients with their inquiries.

Data Security

• Definition: The practice of protecting digital information from unauthorized access, corruption, or theft throughout its lifecycle.
• Example: We implement robust data security measures to safeguard our clients' sensitive information.

Deliverable

• Definition: A tangible or intangible product or service produced as a result of a project that is intended to be delivered to a customer.
• Example: Each phase of our projects includes specific deliverables such as reports or software updates.

Escalation Process

• Definition: A predefined procedure for raising unresolved issues to higher levels of management or specialized teams.
• Example: If a support ticket is not resolved within a specified time, it will be escalated to a senior technician.

Enterprise Resource Planning (ERP)

• Definition: Integrated software platforms used by organizations to manage and automate many of the business practices associated with the operations or production aspects of a company.
• Example: Our ERP solutions help streamline business processes and improve data accuracy.

Fraud Detection

• Definition: The process of identifying and preventing fraudulent activities and transactions.
• Example: We use advanced algorithms and machine learning to detect and prevent fraud in real-time.

Full-Time Equivalent (FTE)

• Definition: A unit that indicates the workload of an employed person in a way that makes workloads comparable across various contexts.
• Example: One FTE is equivalent to one employee working full-time.

Global Delivery Model

• Definition: A framework for delivering outsourcing services through a combination of onshore, nearshore, and offshore locations.
• Example: Our global delivery model allows us to provide round-the-clock support to our clients.

Governance

• Definition: The framework of rules and practices by which a company ensures accountability, fairness, and transparency in its relationships with stakeholders.
• Example: Effective governance practices help ensure our operations align with legal and ethical standards.

Help Desk

• Definition: A resource intended to provide the customer or end user with information and support related to a company's products and services.
• Example: Our help desk services offer technical support and troubleshooting assistance to clients.

Hybrid Cloud

• Definition: A computing environment that uses a mix of on-premises, private cloud, and public cloud services with orchestration between the platforms.
• Example: Many businesses prefer a hybrid cloud approach for flexibility and improved data management.

Incident Management

• Definition: The process of identifying, analyzing, and correcting hazards to prevent a future re-occurrence.
• Example: Our incident management protocols ensure quick response and resolution of service disruptions.

Infrastructure as a Service (IaaS)

• Definition: A form of cloud computing that provides virtualized computing resources over the internet.
• Example: We offer IaaS solutions to help businesses scale their IT resources on-demand.

Just-in-Time (JIT)

• Definition: An inventory management strategy that aligns raw-material orders from suppliers directly with production schedules.
• Example: Our JIT approach minimizes inventory costs and reduces waste.

Key Performance Indicators (KPIs)

• Definition: Quantifiable measures used to evaluate the success of an organization, employee, or project in meeting objectives for performance.
• Example: We track KPIs to ensure our services meet client expectations and quality standards.

Knowledge Base

• Definition: A centralized repository for information, a public library of information about a product, service, department, or topic.
• Example: Our knowledge base provides clients with access to FAQs, guides, and troubleshooting tips.

Lead Time

• Definition: The amount of time that passes from the start of a process until its conclusion.
• Example: Reducing lead time helps improve efficiency and customer satisfaction.

Lean Methodology

• Definition: A systematic method for waste minimization within a manufacturing system without sacrificing productivity.
• Example: We apply lean methodologies to streamline our processes and deliver value to clients.

Managed Services

• Definition: The practice of outsourcing the responsibility for maintaining, and anticipating need for, a range of processes and functions to improve operations and cut expenses.
• Example: Our managed services offer comprehensive IT support and management for businesses.

Multilingual Support

• Definition: Providing customer service and technical support in multiple languages.
• Example: We offer multilingual support to cater to our diverse global client base.

Nearshore Outsourcing

• Definition: Outsourcing services to companies in nearby countries, often sharing a border or close geographical proximity.
• Example: Nearshore outsourcing helps reduce cultural and time zone differences.

Network Operations Centre (NOC)

• Definition: A centralized location from which IT professionals monitor, manage, and maintain client networks.
• Example: Our NOC ensures the continuous health and security of our clients' IT infrastructure.

Offshore Outsourcing

• Definition: Outsourcing services to companies in distant countries, typically to leverage cost advantages.
• Example: Offshore outsourcing allows businesses to access skilled labor at lower costs.

Onshore Outsourcing

• Definition: Outsourcing services to companies within the same country.
• Example: Onshore outsourcing helps businesses maintain closer communication and easier collaboration.

Project Management

• Definition: The discipline of planning, organizing, and managing resources to bring about the successful completion of specific project goals and objectives.
• Example: Our project management services ensure timely and within-budget delivery of client projects.

Proactive Support

• Definition: Anticipating and addressing potential issues before they become problems.
• Example: We provide proactive support to minimize disruptions and enhance service reliability.

Quality Assurance (QA)

• Definition: A way of preventing mistakes and defects in manufactured products and avoiding problems when delivering solutions or services to customers.
• Example: Our QA processes ensure that all deliverables meet the highest standards of quality.

Quick Response Time

• Definition: The ability to respond promptly to customer inquiries and issues.
• Example: Our quick response time ensures that client issues are addressed swiftly and efficiently.

Risk Management

• Definition: The identification, assessment, and prioritization of risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events.
• Example: Effective risk management helps us protect our clients' interests and maintain service continuity.

Return on Investment (ROI)

• Definition: A performance measure used to evaluate the efficiency or profitability of an investment.
• Example: Our clients see a positive ROI from outsourcing by reducing costs and improving efficiency.

Service Level Agreement (SLA)

• Definition: A formal agreement between a service provider and a client that specifies the services to be provided and the expected level of performance.
• Example: Our SLAs define clear expectations and performance standards for our services.

Scalability

• Definition: The capability of a system, network, or process to handle a growing amount of work, or its potential to be enlarged to accommodate that growth.
• Example: Our services are designed to be scalable to meet the changing needs of our clients.

Technical Support

• Definition: Assistance provided to users for resolving technical problems with software, hardware, or other IT-related issues.
• Example: Our technical support team is available 24/7 to help clients resolve their IT issues.

Turnaround Time (TAT)

• Definition: The total time taken between the submission of a request and the completion of the process.
• Example: We strive to minimize turnaround time to enhance client satisfaction and efficiency.

Unified Communications (UC)

• Definition: The integration of various communication methods within a business, such as phone, email, chat, and video conferencing.
• Example: Our UC solutions enable seamless communication across multiple channels.

Uptime

• Definition: The amount of time that a service is operational and available for use.
• Example: We guarantee 99.9% uptime in our SLAs to ensure our clients have reliable access to our services.

Virtual Private Network (VPN)

• Definition: A technology that creates a safe and encrypted connection over a less secure network, such as the internet.
• Example: Our VPN solutions provide secure remote access to our clients' networks and systems.

Vendor Management

• Definition: The process of managing relationships with third-party suppliers and service providers.
• Example: Effective vendor management ensures that we deliver quality services by collaborating with reliable partners.

Workflow Automation

• Definition: The use of technology to automate repetitive tasks and processes within a workflow.
• Example: We implement workflow automation to improve efficiency and reduce manual errors.

Workforce Management (WFM)

• Definition: An integrated set of processes used to optimize the productivity of employees.
• Example: Our WFM solutions help clients manage their workforce more effectively.

XML (Extensible Markup Language)

• Definition: A flexible text format used to create structured documents by defining custom tags.
• Example: We use XML to facilitate data exchange between different systems and applications.

Year-End Processing

• Definition: The tasks and procedures performed at the end of a fiscal year to close out accounts and prepare for the new year.
• Example: Our back office services include year-end processing to ensure accurate financial reporting.

Yield Management

• Definition: A pricing strategy that involves selling the right product to the right customer at the right time for the right price.
• Example: Our yield management techniques help clients maximize revenue from their services.

Zero Downtime

• Definition: A situation where a system or service experiences no interruptions in its operation.
• Example: We strive for zero downtime in our critical services to ensure continuous availability for our clients.

Zone of Tolerance

• Definition: The range of service performance that a customer considers satisfactory.
• Example: Understanding the zone of tolerance helps us maintain high levels of customer satisfaction.

For any additional questions or further clarifications on the terms, please feel free to contact us at:

• Email: [email protected]
• Address: 501, Quantum Business Park, Matigara, Siliguri, 734010

Thank you for choosing Globolosys Outsourcing. We are here to support your success and ensure you have a clear understanding of our services and industry terms.