Definitions for every term, status, and concept used across the IQ Suite platform.
A renewal status indicating the contract is currently in force and has not yet reached its end date or been terminated.
The dropdown menu accessed by clicking the logo in the sidebar. Allows you to navigate between IQ Suite products (Renewal IQ, Deal IQ, Request IQ, etc.) without signing out.
A structured process where certain actions (e.g. renewals above a value threshold, requests exceeding £50,000) must be reviewed and approved by a designated stakeholder before proceeding.
A request status indicating the request has been allocated to a specific team member via the Triage Queue. The assigned person is responsible for progressing the request.
An SLA indicator showing that 75–100% of the allowed resolution time has elapsed. The request is approaching its deadline and may require escalation.
A classification for procurement requests. Standard categories include Software, Hardware, Services, Licensing, Infrastructure, and Other.
A request status indicating the request has been fully resolved and closed. For requests exceeding £50,000, this status is only reached after approval.
A unique identifier assigned to each renewal record (e.g. RIQ-001). Used across the platform for tracking, searching, and cross-referencing contracts.
The default landing page of each IQ Suite app. Displays key performance indicators, summary charts, recent activity, and quick-action shortcuts.
A visual representation of all active deals organised by stage (Discovery, Assessment, Negotiation, Final Review, Closed). Provides a bird's-eye view of deal flow and bottlenecks.
The first stage of the deal pipeline. Involves initial market research, vendor identification, and preliminary requirement gathering before formal evaluation begins.
An auto-generated summary document presenting deal highlights, financial analysis, risk assessment, and recommendations in a format suitable for stakeholder presentations and governance meetings.
The fourth stage of the deal pipeline. The deal has been fully evaluated and negotiated; this stage involves final stakeholder approval before the deal is closed (won or lost).
A checkpoint in the deal pipeline where specific criteria must be met before a deal can advance to the next stage. Gates ensure thorough evaluation at each step and prevent deals from progressing prematurely.
A request status indicating active work is being done to fulfil the request. The assigned team member is currently sourcing, evaluating, or procuring the requested items.
A renewal status indicating the contract is being evaluated. Typically used when a team member is assessing whether to renew, renegotiate, or terminate.
A unique alphanumeric code generated for each organisation. New users enter this code during sign-up to join an existing team and access shared data.
A measurable metric displayed on dashboards and analytics pages. Examples include total contract value, on-time renewal rate, average deal cycle time, and SLA compliance percentage.
The third stage of the deal pipeline. Involves active discussions with the vendor on pricing, terms, SLAs, and contractual obligations.
A request status indicating work has been temporarily paused, typically due to budget constraints, pending information, or organisational priorities.
An SLA indicator showing that less than 75% of the allowed resolution time has elapsed. The request is progressing within acceptable timelines.
An SLA indicator showing that more than 100% of the allowed resolution time has elapsed. The request has breached its SLA target and requires immediate attention.
A status indicating an action is awaiting sign-off from a senior stakeholder. In Request IQ, this applies to requests exceeding £50,000. In Renewal IQ, it applies to renewals routed through approval workflows.
A classification that determines the SLA target for a request. Four levels: Critical (5-day SLA), High (10-day), Medium (20-day), and Low (30-day).
A renewal status indicating the contract has been successfully renewed for a new term. These records are excluded from alert calculations.
A target resolution timeframe assigned to each request based on its priority level. IQ Suite tracks SLA compliance automatically and flags requests that are At Risk or Overdue.
An action that temporarily hides a renewal alert for 7 or 30 days. Useful when you've already taken action on a renewal but it hasn't yet been updated in the system.
A renewal status indicating the decision has been made not to renew the contract. The vendor relationship for this contract is ending. These records are excluded from alert calculations.
A dedicated interface for team leads to process newly submitted procurement requests. Actions include Accept (move to Under Review), Reject (with reason), or Assign (allocate to a specific team member).
A centralised list of all vendors with active or historical contracts. Includes contact information, contract counts, total spend, and links to associated renewals.