Data Management Software Glossary: Key Terms & Concepts

The overall accounts payable (AP) balance of a corporation at a given moment in time will appear in the current liabilities column of its balance sheet. Accounts payable are debts that mus...read more

A bank reconciliation statement reconciles an entity's bank account with its financial records. The statement lists all deposits, withdrawals, and other transactions in a bank account over...read more

An invoice and a bill are documents that convey the same information about the amount owing for the sale of goods or services. Still, a company uses an invoice to collect money from its cu...read more

A self-service portal is a website or app that enables workers (or external clients for externally visible support providers) to help themselves when they require assistance, information, ...read more

Project management is used to supervise a team's efforts to meet all project objectives while staying within budget. The information is described in project documentation, prepared at the ...read more

Customer support is a term used to describe services that assist customers in making the most cost-effective and proper usage of a product. From product planning to installation, training,...read more

The process of procuring, maintaining, utilizing, and distributing a company's inventory is referred to as inventory management. This comprises the storage and processing of raw materials,...read more

Invoice is time-stamped commercial document that itemizes and records a transaction between a buyer and a seller. If products or services were acquired on credit, the invoice would general...read more

Supplier Management covers the process of sourcing, selecting, and managing suppliers to keep the supply chain running efficiently. It helps organizations manage vendor relationships and c...read more

Financial management is a process of planning, organizing, regulating, and monitoring financial resources to meet the goals and objectives. It is ideal for controlling an organization's ec...read more

A system or process for capturing, tracking and storing electronic documents such as PDFs, word processing files, and digital photographs of paper-based content is known as document manage...read more

The technique of managing a task throughout its life cycle is known as task management. Planning, testing, tracking, and reporting are all part of the process. Persons can use task manager...read more

Material management is the end-to-end acquiring, designing, processing, and distributing of content. It is a set of methods and technologies that make it easier to collect, handle, and tra...read more

A requirement is a need or expectation from a stakeholder that a product, service, or solution must satisfy to be useful. Requirements are often communicated as business rules and should b...read more

People can collaborate more easily with the help of collaboration tools. The goal of a collaboration tool is to help a group of two or more individuals achieve a common goal or objective. ...read more