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Glossary

MSP industry glossary

Acronyms, vendor categories, frameworks, and the jargon you need to translate when a client, a junior tech, or a board member asks.

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AYCE

All You Can Eat. Flat-fee unlimited support pricing.Compliance

BAA

Business Associate Agreement. Required HIPAA contract.Endpoint policy

BYOD

Bring Your Own Device. Employee-owned device policy.Compliance

CMMC

Cybersecurity Maturity Model Certification. DoD framework.Engagement model

Co-managed

Hybrid engagement sharing IT duties with in-house staff.Security

EDR

Endpoint Detection and Response.Service desk

FCR

First Call Resolution. Percentage of tickets resolved on first contact.Compliance

HIPAA

Health Insurance Portability and Accountability Act.Framework

ITIL

IT Infrastructure Library. Service management framework.Software category

ITSM

IT Service Management.Security

MDR

Managed Detection and Response.Finance

MRR

Monthly Recurring Revenue.Software category

PSA

Professional Services Automation.Sales process

QBR

Quarterly Business Review.Software category

RMM

Remote Monitoring and Management.Contract

SLA

Service Level Agreement.Compliance

SOC 2

Service Organization Control 2 audit framework.Service desk

TTFR

Time To First Response.Service desk

TTR

Time To Resolution.Service offering

vCIO

Virtual Chief Information Officer.Security

XDR

Extended Detection and Response.Security model

Zero Trust

Identity-centric security architecture.