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JARGON BUSTERS

Are you confused by a SaaS or puzzled by ta ERP?

Our jargon buster gives clear and concise definitions for grammar and literary terms.

ERP - ENTERPRISE RESOURCE PLANNING

The initials ERP originated as an extension of MRP (Material Requirements Planning; later manufacturing resource planning and CIM (Computer Integrated Manufacturing). It was introduced by research and analysis firm Gartner in 1990. ERP systems now attempt to cover all core functions of an enterprise, regardless of the organization's business or charter. These systems can now be found in non-manufacturing businesses, non-profit organizations and governments.

SaaS - SOFTWARE AS A SERVICE

Software as a service (SaaS, typically pronounced 'sass') is a model of software deployment whereby a provider licenses an application to customers for use as a service on demand. SaaS software vendors may host the application on their own web servers or download the application to the consumer device, disabling it after use or after the on-demand contract expires. The on-demand function may be handled internally to share licenses within a firm or by a third-party application service provider (ASP) sharing licenses between firms.

CRM - CUSTOMER RELATIONSHIP MANAGEMENT

Customer relationship management (CRM) is a broadly recognized, widely-implemented strategy for managing and nurturing a company’s interactions with customers and sales prospects. It involves using technology to organize, automate, and synchronize business processes—principally sales related activities, but also those for marketing, customer service, and technical support. The overall goals are to find, attract, and win new customers, nurture and retain those the company already has, entice former customers back into the fold, and reduce the costs of marketing and customer service.

According to Forrester Research, spending on customer relationship management is expected to top $11 billion annually by 2010, as enterprises seek to grow top-line revenues, improve the customer experience, and boost the productivity of customer-facing staff.

ICT - INFORMATION AND COMMUNICATION TECHNOLOGIES

Information and communication technologies or ICTs allow users to participate in a rapidly changing world in which work and other activities are increasingly transformed by access to varied and developing technologies. By this definition, you could almost say ICT is technology's version of economic growth, to satisfy the needs and wants of the community over time. ICT is also a very age friendly mechanism ICT tools can be used to find, explore, analyze, exchange and present information responsibly and without discrimination. ICT can be employed to give users quick access to ideas and experiences from a wide range of people, communities and cultures.
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