PECOS Project
Glossary
There are many terms that we use in our work that you may not be familiar with. To help you understand this new terminology a glossary or list of terms, including acronyms, has been provided below.
If you come across a word, acronym or phrase, and want it explained, let us know by sending an email to PECOS-SysAdmin@dundee.ac.uk
A
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XYZ
A
APUC
Advanced Procurement for Universities and Colleges Ltd
E
EDI - Electronic Data Interchange
Developed in the 1960s using an early principle of sending and receiving messages entirely electronically. Used predominantly by large companies with huge volumes of commercial traffic and, more often than not, involved in retail or production.
eAuction
An online exercise in which suppliers compete against each other with open bids for the right to provide goods or services to the buyer.
eProcurement
eProcurement applications deliver on-line Procurement services and provides a single standard platform to conduct business with suppliers.
Key features include:
- electronic catalogues
- punch out to suppliers´ websites for dynamic products
- recurring requisitions
- easy to use web access
- workflow routings
- electronic orders dispatched over the internet to suppliers
- line item reporting capability
eProcurement Order Process
Order process where an eProcurement System is used to place the order.
ePS
eProcurement Scotland Service.
ePS is enabling the entire Scottish public sector, including central government, local government and the NHS to win the cost savings and efficiencies of eProcurement. It is a fully hosted and managed 24 x 7 eProcurement service which supports the full purchase to pay cycle´ providing a range of services including e-sourcing (electronic tendering and auctions) and transactional purchase to pay solutions.
eSourcing
The use of web-based technologies and electronic communications networks for the pre-contract phases of the purchasing process.
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M
Matching
The activity of comparing purchase orders,receipts, and invoices to ensure compliance.
Maverick Spend
Spend committed with a non-contracted supplier where a contract exists for the goods services required.
MI - Management Information
Purchasing data gathered by systems transformed into meaningful information by reporting applications.
P
Paper Invoice Process
Invoice process where all steps are conducted manually.
PECOS - Professional Electronic Commerce On-Line System
PECOS stands for Professional Electronic Commerce Online System. It is a centralised, fully automated internet based procurement system accessed through an Internet connection. It will enable everyone in the University to access it easily from their computer providing they have Internet access. PECOS will be used by staff to raise orders and transmit them to suppliers. A commitment against a budget will be registered within 24 hours in CODA. Invoices will continue to be processed through CODA.
It is well-established and used by a wide variety of organisations worldwide. The software is remotely hosted and its flexibility allows implementation to be tailored to meet the requirements of different organisations. The software is provided by Elcom, a leading global provider of Internet-based electronic procurement solutions.
PECOS Approver
The person approving the requisition (request for goods / services), which has been submitted by a requisitioner (person placing the order for the goods / services) via the PECOS system, which then submits a purchase order to the supplier.
PECOS Requisitioner
The person completing the requisition (request for goods / services) in the PECOS system, and submitting the subsequent purchase order for approval.
Procurement
The purchasing cycle from identification of requirement through to payment.
Punch-Out
A method by which a buyer interacts with a supplier´s website and retrieves requisition content into a purchasing application for submission to internal processes.
PO - Purchase Order
A legally binding document issued to a supplier for provision of goods or services.
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R
Receipt
A document that quantifies the product or service received).
Requisition
The initial document listing the goods or services required.
Reverse Auction
See eAuction.
RFQ
Request for quotation.
ROI - Return on Investment
In eProcurement, the benefits achieved through use of the system over time minus the total cost of implementation and use.
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U
UAT - User acceptance Testing
A process during implementation when users test that the system handles the business process as required.
V
VFM - Value for Money
The principle underpinning all public sector purchasing activity.
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W
Workflow
The application by the eProcurement system of the GDA´s business rules. Workflow defines the routing of data from one part of the procurement process to the next based on set rules.
Whole Life Cost
The total cost of a product or service over its expected lifetime. For example, when calculating the Whole Life Cost of a printer you should consider the following: -
- The initial purchase price.
- The cost of consumables, ie print cartridges
- The length of warranty that is included in the purchase price
- The cost of repair if it breaks down and is out of warranty (this should include, call out charges, travel, labour and parts)
- Any other incidentals
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X Y Z
XML - eXtensible Mark-up Language
A meta or syntax language describing the data format of documents when they are transmitted electronically.
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