Subscription Management Software Glossary: Key Terms & Concepts

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

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

A tax is a governmental mandatory financial charge or levy imposed on a taxpayer to fund certain public expenses. The taxation system is critical for a country's economy since money is req...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

A quote, also known as a proposal, is a document that establishes a contractual connection between two parties. A quote is a supplier's response to a prospective customer's request - one l...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

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

Payment Processing is defined as providing a Person with the ability to charge or debit accounts using any payment mechanism, including but not limited to Remotely Created Payment Orders, ...read more

A customer portal is a website that allows current customers to access services and information. It's usually safe and confidential, and it requires authentication. Account information, pa...read more

An invoice is a business document delivered by a seller to a buyer that refers to a sale transaction and identifies the items, quantities, and agreed prices for products or services the se...read more

When a subscription business charges a customer's credit card for items or services on a regular billing schedule, this is known as recurring billing. Subscription services typically charg...read more

Quotes, also commonly known as estimates, are an integral part of any software that deals with project management or client services. They serve as a way to provide potential clients with ...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

The process of keeping track of clients' orders and managing the actions required in completing them is known as order management. Accepting the order, picking, packing, and shipping the t...read more