Travel Agency Software Glossary: Key Terms & Concepts

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

Your firm will be able to hold funds in multiple currencies if you have a multi-currency bank account. When conducting a business across borders, having a multi-currency account can help y...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

The set of actions and methods used by businesses to efficiently assign their resources to jobs, tasks, or projects they need to perform, as well as plan start and completion dates for eac...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

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

Email marketing is a type of marketing that informs your customers via email list of new products, discounts, and other services. It can also be a pitch to educate audience on your brand's...read more

An organization creates and controls marketing and sales processes, people, policies, and platforms to offer goods and services indirectly through partner firms through channel management,...read more

A payment gateway is a technology used in e-commerce websites and applications that enables secure online transactions, allowing customers to pay for goods and services electronically. It ...read more

When a product's maker utilises the buyer's or marketer's branding instead of its own, this is known as white labelling. The finished product appears to have been created by the buyer. Whi...read more

Online booking refers to a software feature that allows users to make reservations or appointments through the internet, without the need for traditional means such as phone calls or in-pe...read more

Remote access is a software feature that allows users to access a computer or network from a remote location. This means that individuals can access their work or personal computers from a...read more