SaaS Glossary - Essential Terms Defined

The method of gathering and handling cash flows is known as cash management. Individuals and businesses alike benefit from good cash management. It is an important part of a company's financial stability in business.

A community forum is an online platform provided by a company or a brand where members, consumers, and fans can come together to ask questions, receive peer-to-peer support, discuss brand preferences, and form social connections.

Many software offer concurrency support, allowing several users to operate on the same record simultaneously. Similarly, concurrency control is the mechanism through which the outcome of the update\delete operation of a record is defined, when you have multiple users working on the same record at the same time.

A contact database allows a company to handle and coordinate information about its clients, customers, and other contacts more efficiently. Due to a large number of contacts and workers dealing with these contacts, many organizations often encounter duplicate data or incomplete details on contacts. When contact information is collected in a single, easy-to-use database, it provides a central location and a straightforward way to locate this type of information.

Curriculum management handles the development and implementation of curriculum for educational institutions.

Collections is a term used by a business when referring to money owed to that business by a customer. When a customer does not pay the business within the terms specified, the amount of the bill becomes past due and is sometimes submitted to a collection agency. When a business sells a product or service to a customer, payment is expected either at the time of the transaction or within a defined period of time such as 30 days. Unfortunately, some customers do not pay the business within those set terms and, at this point, the account can be considered in collections.

Collaboration is the process of two or more individuals, groups, or organizations collaborating to accomplish a task or achieve a goal. It is a method of working in which individuals collaborate for the common good of the company.

Collaboration tools make it easier for people to work together. A collaboration tool's aim is to assist a group of two or more people in achieving a shared goal or objective. Paper, flipcharts, post-it notes, and whiteboards are examples of non-technical collaboration tools. Collaboration software, on the other hand, is a technological tool.

Cooperative writing involves two or more people working together to produce a written document. Also known as collaborative writing or group writing, cooperative writing is an important part of the business world, and many types of business and technical writing depend on the efforts of collaborative writing teams.

A change order is work that is added to or deleted from the original scope of work of a contract, which alters the original contract amount and/or completion date. A change order may force a new project to handle significant changes to the current project.