The Business Classification Scheme is used to describe common business functions and activities. The number of levels within the scheme can vary depending on level of detail and how the scheme will be used. Generally the structure of the scheme is hierarchical, moving from general to specific. Each function has activities that are related to it and each activity might have categories of transactions specific to the activity.
For public sector organizations these are usually defined, managed, and provided as guidance by the public records office for the particular jurisdiction.
The Term Store refers to the database in which managed metadata is stored, by configuring this you are defining the database used by RecordPoint, the Term Group and Set therefore refer to the collection of related terms.
Examples of Business Classification Terms
Before you create or modify the term store, the Managed Metadata Service must be configured.
Classification terms should be associated to a RecordPoint outcome before it can be used for creating rules.