Glossary
Processes, automation and AI, in plain words.
Short definitions of the terms that come up most when a company improves and automates its processes. No unnecessary jargon.
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AI agent
An AI agent is a system that uses a language model to pursue a goal, taking steps with the data and tools it has been given permission to use.
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API
An API (application programming interface) is a set of rules that lets one program request data or actions from another in a structured, controlled way.
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Approval workflow
An approval workflow is the sequence of steps through which a request, such as a purchase, expense or quote, is reviewed and authorised before going ahead.
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Automated bank reconciliation
Automated bank reconciliation compares bank transactions with accounting entries and matches them using set rules, without manual intervention.
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Bottleneck
A bottleneck is the step in a process with less capacity than the demand placed on it, which limits the pace of the whole process and creates a backlog.
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Business process automation
Business process automation is the use of technology to carry out the repetitive tasks in a business process without manual work, following defined rules.
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GDPR
The GDPR is the European Union's General Data Protection Regulation, which governs how organisations collect, use and protect personal data.
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Generative AI
Generative AI is artificial intelligence that creates new content, such as text, images or code, based on patterns learned from large volumes of data.
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OCR (optical character recognition)
OCR is the technology that converts text in an image, such as a scan, a photo or a PDF without a text layer, into digital text a computer can process.
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On-premise
On-premise software is installed and run on a company's own servers, rather than in the cloud on an external provider's infrastructure.
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Process improvement
Process improvement is the systematic analysis of how work is done in order to redesign it and reduce time, errors and costs without losing quality.
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Process map
A process map is a structured picture of how a process is carried out: its steps, who performs them, which systems are used and where delays occur.
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RAG (retrieval-augmented generation)
RAG is a technique in which a language model first retrieves information from a company's own documents and then answers from it, citing the source.
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Return on investment (ROI)
Return on investment (ROI) is the ratio between the benefit an investment generates and what it costs, usually expressed as a percentage.
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RPA (robotic process automation)
RPA is software that automates tasks by repeating what a person would do on screen: opening applications, copying data and clicking buttons.
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