The Ultimate Qashiopedia
RFI
RFI stands for Request for Information. It is a document or questionnaire used by companies to gather information from vendors about their products or services. Typically used to identify suitable vendors, it can also provide insight into the overall market.
RFP
RFP stands for Request for Proposal. It is a detailed document that follows an RFI, outlining the business's needs and requirements. A well-prepared RFP allows vendors to provide better proposals, making it easier for businesses to evaluate different options.
RFQ
RFQ stands for Request for Quotation. This document usually follows an RFP and specifies exact requirements and specifications. It is used to confirm a vendor's ability to meet these requirements and to identify the lowest possible price.
Role-Based Permissions
Refers to the specific access levels and responsibilities assigned to different users based on their role within the system. These roles establish what users can view, manage, or control in the platform, ensuring that access is appropriately restricted according to their job functions. The four main user roles are company admin, assistant admin, accountant admin, and end user.
Rolling budget
A rolling budget, also known as a budget rollover or continuous budget, is one that is updated after its relevant period, typically every quarter or month, to introduce a new budget period. Companies utilise rolling budgets for improved accuracy and flexibility, allowing them to adapt without needing to create an entirely new budget each year.
Rolling forecast
A rolling forecast is a continuous financial model that companies use to plan operations and predict performance over a specified period, usually a year, updated monthly or quarterly. This approach enhances accuracy and reduces risk due to improved visibility.
RPA finance
RPA, or Robotic Process Automation, refers to the use of technology to automate repetitive back-office tasks typically performed by human employees. In finance, RPA is commonly employed for tasks such as data entry, invoice processing, and record keeping to improve efficiency.
SaaS management
SaaS management involves centralising a business's software-as-a-service applications by managing and monitoring the entire lifecycle of these applications within the company's portfolio, including visibility and access for all users.
Settlement
In financial terms, settlement is the final step in the exchange of a payment or security, after which transactions are considered complete. Settlement can also occur in the context of debt, where a debt settlement involves paying a lower amount than owed with the agreement that the reduced figure will be paid in full.
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