Enterprise resource planning (ERP)

Terms related to business, including definitions about project management and words and phrases about human resources, finance and vertical industries.

What is CAD (computer-aided design)? - CAD (computer-aided design) is the use of computer-based software to aid in design processes by creating simulations of real-world objects.
What is Capability Maturity Model (CMM)? - The Capability Maturity Model (CMM) is a methodology used to develop and refine an organization's software development process.
What is change control? - Change control is a systematic approach that includes the various steps needed to process changes made to a product or system.
What is cloud computing? Types, examples and benefits - Cloud computing is a general term for the on-demand delivery of hosted computing and IT services over the internet with pay-as-you-go pricing.
What is conduct risk? - Conduct risk is the potential for a company's actions or behavior to harm its customers, stakeholders or broader market integrity.
What is core HR (core human resources)? - Core HR (core human resources) is an umbrella term that refers to the essential, mandatory and fundamental tasks and functions of an organization's HR department as it manages the employee lifecycle and develops human capital.
What is corporate social responsibility (CSR)? - Corporate social responsibility (CSR) is a strategy undertaken by companies to not just grow profits, but also to take an active and positive social role in the world around them.
What is cost management? Definition, steps and benefits - Cost management is the process of planning and controlling a business budget.
What is cost of goods sold (COGS)? - Cost of goods sold (COGS) is the total of the costs directly attributable to producing things that can be sold.
What is CPQ software (configure price quote software)? - CPQ (configure, price, quote) is programming that helps sales representatives and self-service customers quickly generate accurate quotes for configurable products and services.
What is cross-docking? - Cross-docking is the practice of unloading goods from inbound delivery vehicles and loading them directly onto outbound vehicles.
What is customer experience (CX) and why is it important? - Customer experience (CX) is the sum total of customers' perceptions and feelings resulting from interactions with a brand's products and services.
What is customer experience management (CXM)? Ultimate guide - Building brand loyalty among customers involves a customer-centric strategy and measuring feedback through voice of the customer data to improve customer experiences.
What is customer segmentation? - Customer segmentation is the practice of dividing a customer base into groups of individuals that have similar characteristics relevant to marketing, such as age, gender, interests and spending habits.
What is data as a service (DaaS)? - Data as a service (DaaS) is an information provision and distribution model in which data files -- including text, images, sounds and videos -- are made available to customers over a network, typically the internet.
What is data monetization? - Data monetization is the process of measuring the economic benefit of corporate data.
What is days sales outstanding (DSO)? - Days sales outstanding (DSO) measures the average time it takes a business to collect payments after a sale.
What is deal registration? - Deal registration is a key feature of many vendors' channel partner programs, enabling a partner -- such as a value-added reseller (VAR), system integrator (SI) or managed services provider (MSP) -- to register a sales opportunity with the vendor before actively pursuing it.
What is demand planning and why is it important? - Demand planning is the process of forecasting the demand for a product or service so it can be produced and delivered more efficiently and to the satisfaction of customers.
What is demand shaping? - Demand shaping is an operational supply chain management (SCM) strategy where a company uses tactics such as price incentives, cost modifications and product substitutions to entice customers to purchase specific items.
What is DevOps 2.0? - DevOps 2.0 is the extension of DevOps practices through the entire organization, beyond development and IT ops.
What is digital disruption? - Digital disruption is the change that occurs when new digital technologies and business models affect the value proposition of existing goods and services.
What is digital labor? - Digital labor is work that's performed by robotic process automation (RPA) systems and interactive applications, including chatbots and digital assistants.
What is digital transformation? Everything you need to know - Digital transformation is the incorporation of computer-based technologies into an organization's products, processes and strategies.
What is digital trust? - Digital trust is the confidence users have in the ability of people, technology and processes to create a secure digital environment.
What is direct marketing? - Direct marketing is a type of advertising campaign that seeks to elicit an action (such as an order, a visit to a store or website or a request for further information) from a selected group of consumers in response to communication from a marketer.
What is dual sourcing? - Dual sourcing is the supply chain management practice of using two suppliers for a given component, raw material, product or service.
What is e-business? - E-business (electronic business) is the conduct of online business processes on the web, internet, extranet or a combination thereof.
What is emotional intelligence (EI)? - Emotional intelligence (EI) is the area of cognitive ability that facilitates interpersonal behavior.
What is enterprise content management? Guide to ECM - Enterprise content management is a set of defined processes, strategies and tools that enables a business to obtain, organize, store and deliver critical information to its employees, business stakeholders and customers.
What is Epicor Software Corp.? - Epicor Software Corp.
What is executive leadership? - Executive leadership is the ability of those who manage or direct employees in an organization to influence and guide these individuals.
What is field service management (FSM)? - Field service management (FSM) is a system of managing off-site workers and the resources they require to do their jobs efficiently.
What is financial analytics and why is it important? - Financial analytics is the creation of ad hoc analysis to answer specific business questions and forecast possible future financial scenarios.
What is FinOps? - FinOps -- a combination of the terms finance and DevOps -- is a framework for managing operational costs across an organization, often in conjunction with cloud computing.
What is greenwashing? - Greenwashing refers to the act of making false or misleading claims about the positive environmental impact that a company, product or service has on the environment.
What is hardware as a service (HaaS)? - Hardware as a service (HaaS) is a procurement model that's similar to leasing or licensing.
What is HRIS (human resources information system)? - A human resources information system (HRIS) is software that aids organizations in maintaining detailed employee information and managing and automating core human resources (core HR) processes.
What is IDoc (intermediate document)? - IDoc (intermediate document) is a standard data structure used in SAP applications to transfer data to and from SAP system applications and external systems.
What is IFS AB? - IFS AB (Industrial and Financial Systems) is an enterprise resource planning (ERP) software vendor that specializes in asset-intensive, project-centric industries, such as manufacturing and distribution.
What is incremental innovation? - Incremental innovation is a series of small improvements or upgrades made to a company's existing products, services, processes or methods.
What is Infor? - Infor is a New York-based vendor of ERP and other enterprise business software.
What is information rights management (IRM)? - Information rights management (IRM) is a discipline that involves managing, controlling and securing content from unwanted access.
What is inventory management? - Inventory management is the component of supply chain management that tracks and supervises noncapitalized assets -- or inventory -- and stock items.
What is IoT Cloud (Salesforce IoT Cloud)? - IoT Cloud is a Salesforce platform designed to store and process internet of things (IoT) data.
What is IT asset management (ITAM)? - IT asset management (ITAM) is a set of business practices that combines financial, inventory and contractual functions to optimize spending and support lifecycle management and strategic decision-making within the IT environment.
What is labor arbitrage? - Labor arbitrage is the practice of searching for and then using the lowest-cost workforce to produce products or goods.
What is lead scoring? - Lead scoring is a methodology sales and marketing departments use to determine the worthiness of leads, or potential customers, by attaching values to them based on their behavior relating to their interest in products or services.
What is Lean management? - Lean management is an approach to managing an organization that supports the concept of continuous improvement, a long-term approach to work that systematically seeks to achieve small, incremental changes in processes to improve efficiency and quality.
What is lean manufacturing? - Lean manufacturing is a methodology that focuses on minimizing waste within manufacturing systems while simultaneously maximizing productivity.
What is LinkedIn and how does it work? - LinkedIn is a social networking site designed specifically for the business community.
What is modeling and simulation (M&S)? - Modeling and simulation (M&S) involves creating a digital representation of a given system to gather data and help inform decisions or predictions about it.
What is multichannel marketing? - Multichannel marketing refers to the practice of companies interacting with customers via multiple direct and indirect channels to sell them goods and services.
What is NFV MANO (network functions virtualization management and orchestration)? - NFV MANO (network functions virtualization management and orchestration), or just MANO, is an architectural framework used to manage and orchestrate virtual network functions (VNFs) and other software components.
What is Open Platform Communications (OPC)? - Open Platform Communications (OPC) is an interoperability standard for secure data exchange in industrial automation and other areas.
What is operational risk? - Operational risk is the risk of losses caused by flawed or failed processes, policies, systems, people or events that disrupt business operations.
What is Oracle PartnerNetwork (OPN)? - Oracle PartnerNetwork, also known as OPN, is a channel partner program that provides resources and benefits for value-added resellers (VARs), independent software vendors (ISVs) and other businesses that want to collaborate with Oracle.
What is order management? - Order management is the administration of business processes related to orders for goods or services.
What is order to cash (OTC or O2C)? - Order to cash, or OTC or O2C, is a business process that involves receiving and fulfilling customer requests for goods or services.
What is PaaS? Platform as a service definition and guide - Platform as a service (PaaS) is a cloud computing model where a third-party provider delivers hardware and software tools to users over the internet.
What is PeopleSoft? - PeopleSoft is an enterprise resource planning (ERP) software suite owned by Oracle Corporation.
What is predictive analytics? An enterprise guide - Predictive analytics is a form of advanced analytics that uses current and historical data to forecast activity, behavior and trends.
What is procure-to-pay (P2P)? - Procure-to-pay (P2P), also known as purchase-to-pay, is the process organizations use to obtain essential resources.
What is product as a service? - Product as a service (PaaS) is the concept of selling the services and outcomes a product can provide rather than the product itself.
What is production planning and why is it important? - Production planning is the act of developing a guide for the design and production of a given product or service.
What is professional services automation (PSA)? - Professional services automation (PSA) is a type of software application suite that provides a service business with the functionality it needs to manage core business processes.
What is PUE (power usage effectiveness)? - Power usage effectiveness (PUE) is a metric used to determine the energy efficiency of a data center.
What is pure risk? - Pure risk refers to risks that are beyond human control and result in a loss or no loss, with no possibility of financial gain.
What is quality of experience (QoE or QoX)? - Quality of experience (QoE or QoX) is a measure of the overall level of a customer's satisfaction and experience with a product or service and the vendor that's providing that product or service.
What is residual risk? How is it different from inherent risk? - Residual risk is the risk that remains after efforts to identify and eliminate some or all types of risk have been made.
What is RFI (request for information)? - A request for information (RFI) is a formal process for gathering information from potential suppliers of a good or service.
What is risk avoidance? - Risk avoidance is the elimination of hazards, activities and exposures that can negatively affect an organization and its assets.
What is risk exposure in business? - Risk exposure is the quantified potential loss from currently underway or planned business activities.
What is ROI? How to calculate return on investment - Return on investment (ROI) is a crucial financial metric investors and businesses use to evaluate an investment's efficiency or compare the efficiencies of several different investments.
What is sales enablement? - Sales enablement is composed of strategies, tools and processes that provide sales representatives with the ability to boost their productivity and revenue generation.
What is sales motion? - A sales motion is the particular sales method an organization uses to sell and deliver a product or a service to its customers.
What is Salesforce Customer Success Platform? - The Salesforce Customer Success Platform (CSP) is the official name of the Salesforce portfolio of products.
What is Salesforce Einstein 1? - Salesforce Einstein 1 refers to an integrated set of artificial intelligence (AI) and machine learning (ML) technologies developed for the Salesforce platform.
What is Salesforce Journey Builder? - Salesforce Journey Builder is a campaign planning tool in Salesforce Marketing Cloud to build personalized customer journeys and deliver unique campaigns and content that enhance customer experiences and secure their loyalty.
What is Salesforce Marketing Cloud? - Salesforce Marketing Cloud is a customer relationship management (CRM) and digital marketing platform that enables marketers to generate better marketing outcomes and ROI.
What is Salesforce Platform (formerly Force.com)? - Salesforce Platform (formerly known as Force.
What is Salesforce Sales Cloud? - Salesforce Sales Cloud is a customer relationship management (CRM) platform designed to support sales, marketing and customer support in both business-to-business and business-to-consumer contexts.
What is Salesforce Service Cloud? - Salesforce Service Cloud is a customer relationship management (CRM) platform for Salesforce clients to provide service and support to their business customers.
What is Salesforce Wave Analytics (Salesforce CRM Analytics)? - Salesforce Wave Analytics, now known as CRM Analytics, is a business intelligence (BI) and analytics platform from Salesforce that provides native analytics, visual insights and predictions powered by artificial intelligence (AI) for Salesforce CRM to help businesses make better, data-driven decisions.
What is Salesforce Work.com? - Salesforce Work.
What is SAP Basis? - SAP Basis is the technical foundation that enables SAP applications to function.
What is SAP Business Suite? - SAP Business Suite is a bundle of enterprise software applications that integrate data, processes and functions for important areas such as finance, sales and human resources (HR), as well as offer industry-specific features.
What is SAP Business Technology Platform (Cloud Platform)? - SAP Business Technology Platform (BTP), formerly SAP Cloud Platform, is SAP's platform as a service (PaaS) product that provides a feature-rich development and runtime environment for building scalable, cloud-based enterprise applications.
What is SAP ERP Central Component (SAP ECC)? - SAP ERP Central Component (SAP ECC) is an on-premises enterprise resource planning (ERP) system.
What is SAP Fieldglass? - SAP Fieldglass is a cloud-based vendor management system (VMS) that enables organizations to manage their external workforce.
What is SAP Fiori? - SAP Fiori is a design system that specifies how SAP business applications should look, feel and behave across desktop and mobile platforms.
What is SAP HEC (HANA Enterprise Cloud)? - SAP HEC (HANA Enterprise Cloud) is a managed, private infrastructure as a service (IaaS) offering that enables organizations to deploy and run SAP software applications on IT infrastructure managed by SAP.
What is SAP MM (SAP Materials Management)? - SAP MM (SAP Materials Management) is a module in the SAP ECC and SAP S/4HANA software suites that enables authorized users to centrally manage purchasing and inventory processes across an entire organization.
What is SAP Planned Delivery Time (PDT)? - SAP Planned Delivery Time (PDT) is the estimated number of calendar days it takes for a company to receive materials or goods from an external vendor after placing a purchase order.
What is SAP Plant Maintenance (PM)? - SAP Plant Maintenance (PM) is a component of SAP ERP Central Component (ECC) that helps businesses support and maintain equipment and systems.
What is SAP Production Planning? - SAP Production Planning (SAP PP) is the component of ERP Central Component (SAP ECC) that helps businesses plan the manufacturing, sale and distribution of goods.
What is SAP Project System (SAP PS)? - SAP Project System is a module in the SAP ERP system that enables tightly controlled project management from planning to completion.
What is SAP Quality Management (QM)? - SAP Quality Management (QM) is a component of SAP ERP Central Component (ECC) that helps businesses implement and run quality control (QC) processes.
What is SAP Sales and Distribution (SAP SD)? - SAP Sales and Distribution (SAP SD) is an SAP ERP Central Component (ECC) core functional module that helps organizations store and manage customer- and product-related data.
What is segregation of duties (SoD)? - Segregation of duties (SoD) is an internal control mechanism designed to prevent errors and fraud by ensuring at least two individuals are responsible for the separate parts of any task.