Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Inefficiencies
Shortcomings, waste, or weaknesses in processes or operations that hinder productivity or result in resource underutilization.
Title Deeds
Legal documents that establish ownership of a property or asset, often used as collateral for loans or to prove property rights.
Vision Realization Programs
Initiatives, projects, and programs that aim at achieving the economic and social targets of the Saudi Vision 2030. The Council of Economic and Development Affairs monitors its performance and implementation.
Manifest
A document containing a full description of the goods carried on the various means of transport.
Country of Origin
The country that manufactures the items stated in the bill of quantities, and shown by the bidders.
Bill of Lading
A legal contract that serves three functions: a receipt for the goods, a document of title, and proof of the contract of shipment of goods. This is a document prepared and issued by a shipping company when goods being exported are shipped by sea.
Negative Assurance
A form of assurance where an auditor expresses a lack of evidence to support specific assertions, typically used in review engagements.
Off-plan Sale
Sale or lease of a detached real estate unit before its construction is completed.
Affirmed
A reconfirmation or maintenance of a previously assigned credit rating by a credit rating agency.
Prequalification
Verification of government entity of availability of the necessary qualifications and capabilities to carry out works or secure purchases with bidders before submitting bids.
Beneficiary Onboarding
The process of introducing beneficiaries to the products and services and guiding them to use the benefits offered, as well as providing ongoing support throughout their journey, from registration to becoming permanent beneficiaries.
Payment Order’s Date of Receipt
The date of receipt of the payment order to the Ministry of Finance and before its registration on the system.
Creation Date of Payment Order
The date of creating an order for payment through the Etimad Platform at the government entity.
Sending Date
The date of sending the invitation to issue a document or transaction.
Creation Date
The date of uploading the competition on the bidding system by the government body.
Payment Order’s Registration Date
The registration date of payment order in the financial system of the Ministry of Finance.
Date of Registration
The date on which the person is registered in accordance with the provisions of the Value Added Tax System in the KSA and its Implementing Regulations, or as specified in the tax registration certificate issued by the Zakat, Tax and Customs Authority.
Fair Trade
A movement promoting ethical trade practices, ensuring producers (especially in developing countries) receive fair wages and work in safe conditions.
Digital Experience (DX)
The overall perception and interaction users have when engaging with digital products, services, platforms, or channels.
Beneficiary Cross Channel Experience
The overall interaction and continuity that beneficiaries experience when they engage with multiple channels or platforms such as website, mobile app, or social media accounts.
B2C Beneficiary Experience
The experience while and after using the service and further interactions.
Post Qualification
After selecting the best quotation, the government entity shall verify that the bidder has the necessary qualifications and capabilities to carry out the work or secure the purchases before awarding the contract.
Date of Opening Offers
Examination date of all offers that have been received by the government body and in the presence of the competitors and the values of the offers should be announced publicly to ensure transparency.
User Experience (UX)
The overall experience that users have when interacting with a product, system, or service, aimed at ensuring that the user’s interaction is meaningful, efficient, and satisfying.
Beneficiary Experience
The general perception and feelings of the beneficiary regarding the services provided, based on their interactions and experiences, and what is reflected in the beneficiary's sense of satisfaction with the quality and effectiveness of this experience.
B2B Beneficiary Experience
The overall interactions and satisfaction that businesses have when engaging with products, services, or solutions.
Market Segmentation
The process of dividing a market into distinct groups of consumers with similar needs or characteristics.
Data Analysis
A process of examining, auditing, selecting, transforming, storing, and modeling data to get useful information that help for decision-making.
Big Data Analytics
The use of advanced data analysis techniques to identify patterns and trends in large datasets.
Financial Analysis
Evaluating and interpreting financial data to assess the financial health, performance, and viability of an entity, often using ratios, comparisons, and other tools.
Loss Aversion
A psychological principle stating that people prefer avoiding losses more than acquiring equivalent gains, influencing decision-making.
Risk Analysis
The process of assessing and evaluating potential risks, their likelihood, and impact on a business, investment, or project, to make informed decisions.
Business Impact Analysis (BIA)
A systematic process for evaluating the impact of an interruption to critical business operations.
Quantitative Analysis
The process of using mathematical and statistical techniques to assess and interpret data, typically to make informed business decisions.
Beneficiaries’ Journey Analytics
The process of understanding the impact of each interaction a beneficiary has with the services it provided.
Beneficiary Insights Analysis
Using data and analytics to gain deeper insights into customer behaviors and preferences.
Transformation
Significant structural changes in an economy or industry to enhance efficiency and growth.
Customer Experience (CX) Transformation
A comprehensive transformation in streamlining processes, leveraging technology, and adapting behaviors to enhance beneficiary experience at every touchpoint.
Financial Planning
The process of setting financial goals and creating a strategy to achieve them, covering aspects like savings, investments, retirement, and tax planning.
User Behavior Analytics (UBA)
The process of collecting and analyzing user data to detect harmful or unusual behaviors.
Beneficiary Touchpoint Analysis
Evaluating the effectiveness of various touchpoints in the customer journey to identify areas for improvement.
Text Analytics
Methods mine through large quantities of text data and identify trends and insights without human intervention. This enables the filtering, categorizing, and enriching of beneficiary data that will be displayed.
Investment Hedging
A risk management strategy used by investors and businesses to offset potential losses by taking contrary positions in related assets or markets.
Ongoing Structural Transformation
The continuous process of restructuring industries and sectors for long-term growth.
Electronic Money Transfer
A digital movement of money between accounts, including transactions like direct deposits, wire transfers, and online payments.
Call Forwarding
The process of transferring a call from one agent to another within the call center to ensure that the beneficiary receives the appropriate support.
Automated Clearing House (ACH) Transfers
Electronic funds transfers between banks for transactions like payroll and bill payments.
Beneficiary Journey Personalization
Designing the customer experience based on individual preferences, behaviors, and previous journeys for the same customer.
Labor Force Planning
Aligning human resource needs with an organization's strategic goals and objectives, ensuring the right people with the necessary skills are in the right roles.
Cuts
Reductions in expenses, interest rates, or budget allocations, often implemented to improve financial stability, control inflation, or manage costs within an organization.
Clearance
The accomplishment of the Customs formalities necessary to allow goods to enter home use, to be exported or to be placed under another Customs procedure.
Cash Flow from Operations
The cash generated or used by a company's core business activities, including revenue, expenses, and working capital changes, excluding financing and investing activities.
Rating Migration
The movement of a credit rating from one category to another over time. It can be an upgrade (improvement) or a downgrade (deterioration) in the credit rating.
Authorization
Defining and verifying access rights to organizational information and technical assets.
Estate or Inheritance
Assets of a deceased natural person or persons. The Estate may include both monetary and non-monetary assets.
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