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Professional Services Glossary

Common Terms Used When Outsourcing Professional Services

Advanced Mobile Location
Advanced Mobile Location (AML) is a technology that automatically shares a mobile device’s accurate location with emergency services when a user dials an emergency number. This technology is crucial for improving emergency response times and services.
Architecture & Design
Architecture & Design encompass the creative process of planning and designing structures, systems, or products. It involves considering aesthetics, functionality, and practicality in creating designs that meet specific objectives. Whether it’s architectural plans for buildings or user interface design for software, effective architecture and design are vital for achieving optimal results.
B2B
B2B (Business-to-Business) refers to commercial transactions and interactions between two or more businesses. It involves the exchange of products, services, or information between organizations rather than between businesses and individual consumers.
Balanced scorecard
The Balanced Scorecard is a strategic performance measurement framework used by organizations to assess and manage their overall performance. It typically includes financial, customer, internal process, and learning and growth perspectives.
Baltic Outsourcing Association
The Baltic Outsourcing Association is a regional organization that promotes and supports the outsourcing industry in the Baltic countries. It fosters collaboration among outsourcing providers and helps businesses connect with outsourcing partners in the region.
Blockchain Technology
Blockchain Technology is a decentralized and secure digital ledger system. It records transactions across a network of computers, ensuring transparency and security. Blockchain has applications beyond cryptocurrencies, including supply chain management, voting systems, and more, where trust and data integrity are paramount.
Cost Arbitrage
Cost Arbitrage is the economic advantage gained by obtaining the same service at a reduced cost in another location or from another provider. It leverages disparities in labor, overhead, or market conditions to achieve cost savings without compromising quality or performance. Businesses often explore cost arbitrage opportunities to improve profitability and competitiveness.
Creative Services
Creative Services encompass a wide range of offerings, including copywriting, graphic design, video production, and other forms of content creation. These services are essential for branding, marketing, and engaging with audiences through visually appealing and compelling content.
Organizational Culture
Culture is the network of beliefs, policies, and values in the context of a company. Aligning work cultures in a diverse environment, especially those with local and international teams, is crucial in the outsourcing industry. At Emapta, we closely work with our clients from the recruitment process all the way to onboarding and managing their offshore team through sharing strategies and best practices on how they can collaborate with their local counterparts. Our support teams, facilities, and employee engagement activities also contribute toward fostering a productive and positive work culture for our clients’ offshore teams.
Data Analytics
Data Analytics involves accessing and managing data, applications, and resources over the internet instead of locally. It enables organizations to harness the power of data for decision-making, insights, and business optimization. Data analytics encompasses techniques like data mining, statistical analysis, and predictive modeling.
Data Security Compliance
Data Security Compliance involves adhering to regulations and standards to protect sensitive data from breaches and unauthorized access. It encompasses ensuring that an organization’s data security practices align with industry-specific requirements and legal mandates, such as GDPR or HIPAA.
Decision-making
Decision-making refers to the process of selecting the best course of action from among multiple alternatives. It is a fundamental aspect of business management and involves assessing information, risks, and consequences to make informed choices.
Digital Transformation
Digital Transformation is the process of leveraging digital technologies to examine data sets and draw insights, patterns, and trends that inform business decisions. It involves adopting new digital tools, processes, and strategies to enhance efficiency, innovation, and competitiveness.
Distributed Teams
Distributed Teams are groups of professionals who operate and collaborate from various geographical locations, often facilitated by technology and remote work tools. Distributed teams offer flexibility, access to global talent, and can be a key component of modern business operations.
Due Diligence
Due Diligence refers to comprehensive research and evaluation undertaken before making critical business decisions, such as mergers, acquisitions, investments, or partnerships. It involves assessing financial, legal, operational, and strategic aspects to mitigate risks and make informed choices.
Education Outsourcing
Education Outsourcing involves the delegation of various educational services to external providers. This can include content creation, curriculum development, administrative tasks, and even online course management. Outsourcing educational functions enhances the efficiency of educational institutions, enabling them to offer high-quality learning experiences while reducing the burden of administrative tasks.
Employee churn rate
Employee pulse check is a method of gathering quick, frequent feedback from employees about their work experiences and job satisfaction. It helps organizations monitor employee sentiment and make timely improvements.
Engineering Outsourcing
Engineering Outsourcing is the practice of contracting engineering services to external experts and organizations. These experts can provide a wide range of services, including product design, prototyping, CAD modeling, and structural analysis. Engineering outsourcing is particularly valuable for accessing specialized skills, reducing development costs, and accelerating product development cycles.
Engineering Services Outsourcing
Engineering Services Outsourcing is the practice of delegating engineering tasks to third-party service providers. Companies leverage this approach to access specialized engineering skills, reduce costs, and accelerate product development. Outsourcing engineering services can include tasks such as product design, analysis, and testing.
First Response Time (FRT)
First Response Time (FRT) Foreign direct investments (FDI) represent investments made by individuals, businesses, or governments in one country into assets or operations located in another country. FDI can have significant economic impacts on both the investing and host countries.
Free Virtual Assistant
A Freelancer is an independent professional who offers services to clients on a project-by-project basis. Freelancers often work remotely and provide expertise in various fields, including design, writing, and programming.
Gamification
Gamification is the practice of incorporating game elements, such as rewards, challenges, and points systems, into non-game contexts to enhance user engagement. It is used in various industries, including marketing, education, and employee training, to motivate and engage users.
Gantt chart
A Gantt chart is a visual project management tool that displays tasks or activities along a timeline. It shows task dependencies, deadlines, and progress, making it easier to plan and track project schedules.
Gig economy
The gig economy refers to a labor market characterized by short-term, freelance, or contract work rather than traditional full-time employment. Workers in the gig economy often take on multiple projects for different clients.
Graphic Design
Graphic Design is the practice of creating visual content to communicate messages effectively. Graphic designers use typography, images, and layout techniques to convey information or evoke emotions in various media, including print and digital materials.
Graphic User Interface (GUI)
Graphic User Interface (GUI) refers to the coordination and optimization of resources, information, and activities across international supply chains. GUIs are visual elements and designs that users interact with on software applications or websites, facilitating user-friendly and intuitive experiences.
HIPAA Compliance
HIPAA Compliance refers to adherence to the Health Insurance Portability and Accountability Act (HIPAA), which sets standards for the protection of sensitive patient health information and governs healthcare privacy and security practices.
Hospitality & Tourism Outsourcing
Hospitality & Tourism Outsourcing involves delegating key functions such as hotel management, booking services, customer support, and marketing to external providers. Outsourcing in the hospitality and tourism sector enhances the guest experience, ensures efficient hotel operations, and expands market reach, ultimately contributing to the growth of the industry.
Impact investing
Impact investing is an investment approach that seeks to generate positive social or environmental impact alongside financial returns. Impact investors support projects or companies that address specific social or environmental challenges.
Impact Sourcing
Impact Sourcing is a business practice that involves outsourcing tasks or processes to economically disadvantaged or underserved communities. It aims to create employment opportunities and improve livelihoods in those communities.
Intellectual Property (IP) Protection
IP Protection safeguards creations of the mind, including inventions, designs, brand names, and proprietary information. It provides legal rights to creators, preventing unauthorized use and ensuring competitive advantage through innovation.
Nearshoring
Nearshoring is a strategic outsourcing approach where a company contracts with service providers in nearby countries or regions, often sharing similar time zones and cultural affinity. Nearshoring allows organizations to leverage cost advantages while maintaining geographic proximity, facilitating collaboration and reducing potential logistical challenges.
Process Improvement
Process Improvement is the practice of enhancing processes to increase efficiency and effectiveness. It involves identifying bottlenecks, eliminating waste, and optimizing workflows. Process improvement methodologies such as Lean Six Sigma and Kaizen help organizations streamline operations, reduce costs, and deliver higher-quality products or services.
Professional Services Outsourcing
Professional Services Outsourcing includes outsourcing functions such as consulting, advisory services, project management, and business analysis to external experts. Outsourcing professional services allows organizations to access specialized skills, gain fresh perspectives, and efficiently manage complex projects.
Quality Assurance (QA)
Quality Assurance (QA) focuses on ensuring that a product or service meets defined standards of quality. It involves systematic testing, inspection, and validation processes to identify and rectify defects or deviations. QA is essential in delivering products or services that meet customer expectations and regulatory requirements.
Real Estate Outsourcing
Real Estate Outsourcing involves delegating various real estate tasks like property management, data analysis, and valuation to external providers. Outsourcing real estate functions helps property owners and managers optimize property operations, enhance tenant experiences, and make informed investment decisions.
Transcription
Transcription involves converting spoken language into written text. Transcription services are used for various purposes, including transcribing interviews, meetings, podcasts, and recorded content. Accurate transcription ensures that spoken content becomes accessible in written form, aiding documentation, analysis, and content creation.
Web Analytics
Web Analytics involves analyzing web traffic and user behavior to inform website improvements. By tracking metrics like page views, bounce rates, and conversion rates, organizations gain insights into how users interact with their websites. These insights guide optimization efforts, leading to better user experiences and more effective online strategies.