Glossary

 

IT Procurement

This is a series of activities and procedures necessary to acquire IT product and services. It involves a mixture of administrative and strategic responsibilities including requests for quotations, requests for proposals, requests for information and managing supplier relationships.
 

IT Benchmarking

This is a strategic management technique which enables the comparison of one IT service provider with a number of other IT businesses. The purpose of IT benchmarking is to explore potential to improve procurement and optimise business operations. This can be carried out on both a branch or cross-industry basis. The following cost categories are often checked within IT benchmarking:
 

• Data communication
• IT sourcing
• Software
• Hardware
• IT staff
• External IT consultants
• Other IT costs

E-Procurement

Also known as "Electronic Procurement". This is the process of requisitioning, ordering and purchasing products and services over the internet. 

E-Procurement Technology

This is the technology or software that facilitates the process of e-procurement. It typically computerises procurement related activities, thereby reducing or eliminating the need for paper of manual process.
 

IT Spend Analysis

This is the practice of collecting, cleansing, classifying and analysing IT spend data with the purpose of reducing procurement costs, monitoring compliance and improving efficiency.