ZuraTM – Glossary of Terms
A
Accounts Receivable
Money that a company expects to receive from clients after sending them an invoice for services. It represents income that has not been paid yet.
ZuraTM – Helps companies generate timely and error-free invoices for on-time payments and perfect cash flows.
AI (Artificial intelligence)
Smart computer technology that performs tasks like humans—such as reading data or making decisions—to save time and reduce manual work.
ZuraTM – built to leverage AI to cut down manual work while being mindful of the human-in-loop component.
Approved Hours
The total consultant hours that have been reviewed and approved for processing in payroll and invoicing.
ZuraTM – Real time visibility into total number of approved hours by consultant / client.
Archival
The process of securely storing historical timesheet data for compliance, auditing, or future reference.
ZuraTM – seamlessly integrates with any archival system – AWS S3, Dropbox, SFTP, to mention a few.
ATS (Applicant Tracking System)
A software used by employers during the recruiting and hiring process to track the candidate applications and manage the hiring process more efficiently.
ZuraTM – seamlessly integrates with any ATS – Bullhorn, JobDiva, Ceipal, to mention a few.
Automatic Approval
A feature that approves timesheets based on predefined rules without the need for manual review, speeding up the approval process.
ZuraTM – One of the key features of the product that processes and approves at the rate of 3 seconds / timesheet.
Automation
The use of technology to perform tasks without human intervention. It helps increase efficiency, reduce manual effort, and minimize errors.
ZuraTM – The premise on which the platform was designed for companies with timesheet processing challenges.
Average Margin/Hr
Shows how much profit a company makes per hour from a consultant after paying them.
ZuraTM – provides real-time numbers to leadership teams of talent management companies.
Average Rate / Hr
The average hourly rate charged to clients across all consultants.
ZuraTM – provides real-time numbers to leadership teams of talent management companies.
B
Bench Pay
Payment given to consultants who are not actively on a project but are retained by the company.
ZuraTM – can support storing this information.
Bill Rate
The amount a client pays for each hour a consultant works.
ZuraTM – can support storing this information.
C
C2C
Corp-to-corp is a term used to describe when a consultant provides services under an incorporated business entity rather than as an employee.
ZuraTM – can support timesheet processing for this employment type.
C2C Passthrough
A billing setup where the staffing firm charges the client exactly what the consultant's vendor charges, without adding a margin.
ZuraTM – can support timesheet processing for this employment type.
Compliance
Ensuring all business operations meet legal, tax, company rules, and industry standards.
ZuraTM – auto- stores all timesheet data into secured location for audit and litigation purposes.
Computer Vision
A field of AI that enables systems to interpret and extract information from visual inputs like scanned timesheets.
ZuraTM – leverages this technology for timesheet data ingestion.
Consultant Master Data
The complete profile of a consultant, including personal info, job details, and project records.
ZuraTM – can integrate with any ATS / HRIS, supports spreadsheet imports or can be used as a system of records.
Contract Timeline
The total duration of a consultant’s engagement with a client, from the start date to the end date.
ZuraTM – one of the key validations for approving / unapproving timesheets.
Cutoff Date
The deadline by which all timesheets must be submitted to be included in a specific payroll or invoice cycle.
ZuraTM – sends timely reminders for submissions before cutoff date.
D
Daily Work Hours
The number of hours a consultant is expected to work each day.
ZuraTM – uses this data for computation of OTs and DOTs.
Dashboard
A visual overview that displays key insights, analytics, and real-time updates—helping users quickly monitor performance, track consultant activity, and manage workflows efficiently.
ZuraTM – real-time, intuitive and interactive dashboards capturing key financial and operational metrics.
DOT(Double Overtime)
Double Overtime refers to a pay rate where consultants are compensated at twice their regular hourly rate.
ZuraTM – can support including this attribute in consultant master data.
Duplicate Timesheet
A repeated timesheet entry that is flagged to avoid duplicate payments or invoice submissions.
ZuraTM – built to have a monitoring agent that purges duplicate timesheets.
E
No Content Found
F
Freelancer or 1099
A 1099 contractor is a self-employed individual hired for specific tasks or projects. They manage their own taxes and work independently rather than being full-time employees.
ZuraTM - Supports the timesheet processing for this category.
File Format
The layout or structure used to organize data in a file, such as .pdf, .xlsx, or .csv.
ZuraTM – versatile to support multiple formats.
File Type
The category of file being uploaded, such as document, image, or spreadsheet.
ZuraTM – versatile to support multiple file types.
G
No Content Found
H
HRIS (Human Resource Information System)
A system used to manage personnel data such as employee records, benefits, and payroll details.
ZuraTM – integrates with any standard HRIS.
I
Ingestion
The process of importing external data (e.g., timesheets or consultant records) into the system.
ZuraTM – can ingest data from multiple file types and file formats.
Integration
The process of connecting different software systems or applications so they work together seamlessly, sharing data and functionality.
ZuraTM – seamlessly integrates with industry standard HRIS, ATS, Accounting, Payroll, Invoicing and secure storage / archival platforms and environments.
Invoice Frequency
How often invoices are generated for clients—weekly, biweekly, monthly, etc.
ZuraTM – supports preconfigured setting up of invoicing calendars for multiple frequencies.
Invoicing System
Software that helps create, send, and manage billing documents (invoices).
ZuraTM – seamlessly integrates with all industry standard invoicing systems or can be configured to act as one.
J
No Content Found
K
KPI (Key Performance Indicator)
Quantitative metrics used to track and evaluate performance, such as revenue per consultant or approval turnaround time.
ZuraTM – built to offer real-time insights into financial and operational KPIs.
L
No Content Found
M
Manual Timesheet Approval
The process of reviewing and approving timesheets by a human, typically used when automated rules aren’t met.
ZuraTM – intelligently built to include the human-in-loop component for exceptions needing human intervention and judgement.
Monitoring Agents
Automated background services that track data submissions, approvals, purging of duplicate timesheets and system errors in real time.
ZuraTM – background monitoring agents that do a host of functions for reduced errors and faster timesheet approvals.
N
No Content Found
O
OCR (Optical Character Recognition)
Technology used to extract typed or handwritten text from scanned documents, such as paper timesheets.
ZuraTM – leverages this technology for timesheet data ingestion.
OT Bill Rate
The hourly billing rate charged for a consultant’s overtime work.
ZuraTM – can support including this attribute in consultant master data.
OT Pay Rate
The hourly wage paid to consultants for overtime work, typically higher than the standard rate.
ZuraTM – can support including this attribute in consultant master data.
P
Pay Date
The actual date when payment is made to consultants.
ZuraTM – can support pre-configuration of the payroll calendar with this attribute by location / state for smooth and error-free payroll processing.
Pay Rate
The hourly wage or salary a consultant earns.
ZuraTM – can support including this attribute in consultant master data.
Payroll Frequency
How often consultants are paid—weekly, biweekly, or monthly.
ZuraTM – can support pre-configuration of the payroll calendar with this attribute by location / state for smooth and error-free payroll processing.
Payroll Period
The time window (e.g., one week or one month) for which a consultant’s hours are calculated for payroll.
ZuraTM – can support pre-configuration of the payroll calendar with this attribute by location / state for smooth and error-free payroll processing.
Payroll Software
A tool used to calculate, process, and manage consultant payments.
ZuraTM – seamless integration with any industry standard payroll software.
Payroll Tax Rate
The percentage of earnings withheld or paid for payroll taxes.
ZuraTM – can support including this attribute in consultant master data.
Q
No Content Found
R
Reminder
A system notification prompting users to take specific actions, such as submitting timesheets or approving pending items.
ZuraTM – designed to send out automated reminders for timesheet submissions to consultants, thus freeing valuable hours for operations managers.
S
No Content Found
T
Time Management System
A suite of tools used to track, submit, and approve consultant working hours.
ZuraTM – can integrate with any time management system and ingest data for automated approvals of timesheets.
Timesheet
A document or digital form used by consultants to record hours worked during a specific period.
ZuraTM – developed to improve the efficiency of the entire timesheet workflow.
Timesheet Approval
The workflow for reviewing and verifying a timesheet before it's used for payroll or invoicing.
ZuraTM – designed for companies to automate this process for faster approvals and reduction of manual work.
Timesheet Notification
Alerts sent to users about the status of timesheets.
ZuraTM – unique feature that sends out an automated email notifying the user of success / failure / partial success of the timesheet submission.
Timesheet End Date
The last day covered by a timesheet entry.
ZuraTM – verifies this date against the contractual timeline, holiday calendar to validate and approve timesheets.
Timesheet Start Date
The first day covered by a timesheet entry.
ZuraTM – verifies this date against the contractual timeline, holiday calendar to validate and approve timesheets.
Total Invoice Amount
The total amount billed to a client based on consultant hours and bill rates.
ZuraTM – provides a monthly real-time number for leadership to review and take necessary actions.
Total Margin
The total profit made from a consultant’s work after paying them.
ZuraTM – provides a monthly real-time number for leadership to review and take necessary actions.
U
Unapproved Hours
Consultant hours that have been submitted but not yet reviewed or approved for payroll or invoicing.
ZuraTM - designed to move timesheets with unapproved hours into separate buckets for managers to take corrective actions.
V
No Content Found
W
W2C
W-2 employee is a formally employed individual working for a company or organization.
ZuraTM designed to support the timesheets of this employee category.
X
No Content Found
Y
No Content Found
Z
No Content Found
