The term "version control system" (VCS) refers to software that helps manage changes to source code over time. It allows multiple developers to work on a project simultaneously, tracking modifications, maintaining a history of changes, and enabling collaborative development. Key features of a VCS include branching, merging, and rollback capabilities. Popular VCS tools include Git, Subversion (SVN), and Mercurial. By employing a VCS, teams can enhance their workflow efficiency, reduce conflicts, and ensure code integrity.