Business Software Glossary

Common Acronyms found in the Business Software Industry

ATP (Available To Promise):
Allows a business to identify what stock is on-hand or promised to customers

BAM (Business Activity Monitoring):
A software application used to monitor a business's processes and workflows. This technology often includes triggers and alerts based on pre-defined criteria that will spur another workflow, report or notification as part of an overall business process improvement initiative

BI (Business Intelligence):
A technology used to transform raw data into meaningful business information

BPM (Business Process Management):
The analysis of various tasks within a business, their effects and how they flow through to other departments can be improved and made more efficient through trigger-based, automated workflows

CRM (Customer Relationship Management):
A process or methodology for managing current and future clients. Client/prospect information is organized, automated and analyzed using software technology that connects and consolidates all data from various departments

EDI (Electronic Data Interchange):
A technology interface between two or more applications used primarily for e-Commerce and sending/receiving orders

ERP (Enterprise Resource Planning):
A software application that is used to manage a company's resources: sales (order processing and accounts receivable), expenses (purchase orders and accounts payable), inventory (engineering, planning and materials management), employees (human resources), overall accounting

HRM (Human Resources Management):
A process or methodology for managing an organization's employees. Employee information is organized, automated and analyzed using software technology that connects and consolidates all data from various departments

MCA (Manufacturing Cost Accounting):
A module within ERP software for manufacturers that combines labour performance data with the cost of purchasing and processing materials to provide a clear view of actual costs to manufacture products.

MRP (Material Requirements Planning):
Software technology used by manufacturers for production planning and inventory control

SCM (Supply Chain Management):
Software technology to manage the flow of goods from purchase to manufacturing through to shipping

VAR (Value Added Reseller):
A company that sells a software application that was developed by another company and adds additional functionality and or value through professional services. These are typically smaller businesses that are more geographically focused and have extensive experience in specific industries and/or product functionality

WMS (Warehouse Management System):
Software technology used to manage materials within a warehouse including shipping, receiving, picking and shelving