Living in one of the friendliest places in the country, Lake County business owners are most likely familiar with conducting business with a smile and a handshake. However, as more small- to medium-sized businesses angle for global growth, it’s imperative to know the latest business world lingo. Here are a few acroynms you need to know if you plan to carry on a conversation with your favorite techie:
CRM: Customer Relationship Management is a system for managing a company’s interactions with current and future customers. It often involves using technology to organize, automate and synchronize sales, marketing, customer service and technical support. A CRM system helps manage customer correspondence such as promotional emails or e-newsletters. CRMs can also keep track of social interactions, visits to your website, create landing pages, etc. A few examples of such software include HubSpot, Zoho and Infusionsoft.
SaaS: Software as a Service is a term made popular by the growing trend of having cloud access and being able to work anywhere with an Internet connection. Technically speaking, it’s a software distribution model in which applications are hosted by a vendor or service provider and made available to customers over a network, typically the Internet. Using online software providers has erased the need for many of the CDs we once needed to upload software on to individual machines. This type of service allows you to use any machine, anywhere, as long as it’s a secure connection. SaaS examples include the Adobe Creative Suite and Salesforce.
SEO: Search Engine Optimization and
SERPs: Search Engine Response Pages go hand-in-hand. Most business owners are familiar with SEO, but may not be up to speed on SERPs. SEO is the process of optimizing your website so that it ranks higher on search engines. SERPs are the actual results, pages that show up when you type in a query.
2FA: Two-Factor Authorization adds an extra step to your basic log-in procedure. Without 2FA, you enter your username and password and you’re done. The password is your single factor of authentication. Two-factor authorization mandates provide two separate ways to prove that you are who you say you are. Odds are that you are currently using 2FA regularly. If you’ve ever used an ATM (Automatic Teller Machine) to withdraw funds, you have used 2FA. In this instance, the first factor is possession of the card. The second factor is the four-digit pin number. Passwords are easy to hack, mainly because we are so predictable (the two most popular passwords are “password” and “123456”). Having two separate ways to authenticate yourself helps protect your data.
BYOD: Bring Your Own Device refers to the policy of permitting employees to bring personal mobile devices (laptops, tablets and smart phones) to their workplace and to use those devices to access privileged company information and applications. It’s gaining popularity around the world with some companies reporting increased productivity, but it can be dangerous. Security is iffy at best.