Business Management Software

• ASP stands for application service provider. This would be a business that installs and manages software at their location. So if you used an ASP for your Business Application Software, the functionality of this software could be provided by an internet connection or a private data network. You would pay a setup fee and or a monthly cost for this service.
• B2B has become a very common term that means business to business. One way this term is used is if any business uses the internet to communicate with other businesses. This could mean submitting purchase orders from your business to a vendor. Or it could mean sending out request for quotes to several businesses.
• B2C can you guess this initialization based on the above definition? B2C stands for business to consumer. If you utilize the internet to communicate with individual customers or consumers, then your business is considered to be a B2C type of organization. An eCommerce transaction or web store-front is a B2C operation.
• CIO is the Chief Information Officer in an organization. This is the person who is responsible for taking care of the computers, private networks and software in a company. This includes all types of information technology.
• CRM stands for customer relationship management. This is the type of software features that will include how businesses keep track of, and take care of, their customers. The CRM is what technically allows a company to provide great customer service by doing things like providing awards or frequent shopping programs, and by monitoring trends.
• CSP is the commerce service provider. This is an internet based business that specializes in providing eCommerce solutions for other businesses. So this type of company is an ASP (above) who specializes in eCommerce.
• DSL is a Digital Subscriber Line. This is a type of phone line that allows a user to exchanged data at a higher speed, over a wired telephone line. The line can then be used for voice and data. The data is set at a specific speed. The line can be used to connect to the internet or a private network and has a set monthly cost for the line.
• EDI stands for electronic data interchange. This term is used to describe the electronic communications standard that is used for exchanging or trading documents. This type of service is usually reserved for items like purchase orders and sales orders. It is generally utilized for items that are in a standardized document format, like X-12.  
• EFT is an Electronic Fund Transfer. This is how you send or receive money electronically. For example, you would use EFT to send money electronically from your bank account to a vendor’s account, or to receive a payment from a customer’s financial account to your business account.
• ERM has two meanings. The first stands for enterprise relationship management. This is a strategy used to facilitate communication between all employee computers within a private network or “enterprise.” The second meaning is enterprise resource management. This is used to describe the tools and techniques that you utilize to manage all the pieces or resources for the enterprise or private network. This could mean the computers, the data or internet network, the database, software and other “resources.”
• ERP stands for Enterprise Resource Planning. This is a software solution that allows a business to manage or plan the consolidation of an entire business’ (enterprise) accounting, purchasing, sales, inventory, etc…into one management system.
• FIFO is an initialized term that stands for First-In-First-Out. This is a strategy of how an item like sales, inventory or documents for example, are handled within a company. You can handle them first in, first out—or transactions can be prioritized by size, amount or other reference.
• FTP or file transfer protocol is one method used to exchange information between computers over the internet, a private network, or other type of networking hardware.
• ISP stands for Internet Service Provider. This is a company that provides access to the internet to paid users. This connection to the internet is provided via software that connects to the ISP over telephone lines for dialup, or dedicated cable or data lines.

Summary