IT service management & procurement
Terms related to the activities and procedures necessary to acquire information technology (IT) products and services.- tier 1 vendor - A tier 1 vendor is one of the largest and most well known in its field -- often enjoying national or international recognition and acceptance.
- tier 2 vendor - A tier 2 vendor is a smaller and less well-known provider as compared to a tier 1 vendor and is often also limited in its geographic coverage as well.
- total benefit of ownership (TBO) - Total benefit of ownership is the sum of measurable and intangible returns that a company receives from investing in assets and/or personnel.