(1). In finance, a term used to describe client assets currently managed by the firm. Usually used during sales staff meetings to encourage employees to get their existing clients to increase the size of their relationship with the firm, often through cross-pollination.
(1). The slow, silent expansion of responsibilities by an operations department or, worse, an outsourced service provider. Scope Creep is usually only discovered after you receive an outsized bill or you realize that your job has somehow been centralized in a foreign country.
“Aren’t we a little concerned about scope creep here, Mike? Remember what happened when we centralized our client service reps a few years ago – all of sudden we had 200 guys in Bangalore calling themselves ‘Steve from Dallas’!”