Retail Software Glossary: Key Terms & Concepts

Purchasing is a method by which an individual or organization acquires goods or services to achieve its objectives. Despite the efforts of numerous organizations to establish purchase stan...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

Connected Business's Multi-Location Accounting function helps businesses with many locations or branches to keep track of their financials per location. Some multi-location companies have ...read more

Inventory management includes keeping track of product levels and accurately entering and exiting stock from the system. Maintaining current product data is critical to the system's succes...read more

The actions required to register a customer's order into a company's order processing system are known as order entry. Internally, this information is usually categorised as a sales order ...read more

Purchase order management is an internal procurement procedure used by businesses to ensure that every purchase is justified, essential, and cost-effective. Many companies have well-define...read more

The transporting of people or products from one location to another by ship or other methods is known as shipping. Shipping Management is when the entire shipping process is managed from s...read more

Custom pricing models are a feature of software that allows businesses to set unique pricing structures for their products or services. This feature enables companies to tailor pricing mod...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

Customer relationship management (CRM) is a tool that allows to keep track of all of the company's relationships and interactions with its customers and prospects. Its objective is straigh...read more

Employee management is a crucial aspect of any organization, as it involves the effective and efficient management of all the employees within the company. It is a process that involves pl...read more

An app or software sends out alerts, which are actionable and content-rich push notifications. These alerts can be for various reasons, including messages from teammates, reporting manager...read more

Collaboration has received a lot of attention in the marketing world recently. It's taking off in a big way but still has many questions surrounding it that make the majority of business o...read more

A product catalog is a marketing tool that contains vital product information to assist buyers in making a purchasing choice. Product characteristics, descriptions, measurements, price, we...read more

A search filter is a feature that allows a visitor to narrow down the search results on a product listing page, such as by size, color, price, or brand. Multiple filters can be used to lim...read more