The acronym 'COTS' stands for Commercial Off-The-Shelf software solutions, which are pre-packaged applications available for purchase. These solutions are designed to meet the needs of a wide range of users and can be integrated into existing systems with relative ease. COTS software offers several advantages, including cost-effectiveness, faster deployment, and established support from vendors. Businesses often opt for COTS to save on development time and resources while ensuring access to reliable and proven functionalities.