API (Application Programming Interface)
A set of rules and protocols that allows different software applications to communicate with each other. Often used for integrating different business tools and automating workflows.
Cloud-based
Software or services that run on remote servers accessed through the internet, rather than locally on your computer. Enables access from anywhere with an internet connection.
Integration
The ability to connect different software tools so they can share data and work together. For example, connecting your accounting software with your payment processor.
Bank Reconciliation
The process of matching your business's recorded transactions against your bank statements to ensure accuracy and identify discrepancies.
Double-Entry Bookkeeping
An accounting method that records each transaction twice - as both a debit and a credit - to maintain balanced books and reduce errors.
General Ledger
The complete record of all financial transactions in your business, organized by accounts (like revenue, expenses, assets, and liabilities).
Journal Entry
A record of a financial transaction in your accounting system, including the date, amounts, and affected accounts.
ACH (Automated Clearing House)
An electronic network for financial transactions, commonly used for direct deposits and automated bill payments.
Interchange Fees
Fees paid between banks for accepting card-based transactions. These typically make up the majority of credit card processing fees.
Payment Gateway
Software that securely processes credit card transactions for online businesses by encrypting sensitive information.
Virtual Terminal
A web-based system that allows businesses to process credit card payments through a computer instead of a physical card reader.
CRM (Customer Relationship Management)
Software used to manage all your company's relationships and interactions with customers and potential customers.
Lead Scoring
A methodology used to rank prospects against a scale that represents the perceived value each lead represents to the organization.
Pipeline Management
The process of tracking and managing potential sales as they move through different stages, from initial contact to closed deal.
Sales Automation
Tools and processes that automatically handle repetitive sales tasks, like sending follow-up emails or updating contact records.
Content Management System (CMS)
Software that helps users create, manage, and modify website content without needing specialized technical knowledge.
SSL Certificate
A digital certificate that authenticates a website's identity and enables an encrypted connection, shown by the padlock icon in browsers.
Responsive Design
Website design approach that makes web pages render well on different devices and screen sizes.
SEO (Search Engine Optimization)
Practices used to increase the quantity and quality of traffic to your website through organic search engine results.
Benefits Administration
The process of managing employee benefits like health insurance, retirement plans, and paid time off.
HRIS (Human Resource Information System)
Software that combines HR activities and information technology, typically including payroll, benefits, time and attendance, and more.
PEO (Professional Employer Organization)
A firm that provides comprehensive HR services through co-employment, allowing small businesses to offer better benefits and HR support.
Time and Attendance
Systems used to track when employees start and stop work, often including features for scheduling, time off requests, and overtime calculations.
Freemium
A business model where basic services are provided free of charge while more advanced features require paid subscriptions.
SaaS (Software as a Service)
Software that is licensed on a subscription basis and centrally hosted, typically accessed through a web browser.
Subscription-based
A business model where customers pay a recurring fee at regular intervals (monthly, annually) to access a product or service.
CPQ (Configure Price Quote)
Software that helps businesses generate accurate price quotes for complex products and services.
Middleware
Software that acts as a bridge between different applications, databases, and services to facilitate data sharing and communication.
Uptime
The amount of time a system or service is operational and available for use, often expressed as a percentage.
Workflow Automation
The creation of automated processes to replace manual work, typically involving a series of tasks triggered by specific events or conditions.