In each company, there are different abbreviations that are used among the employees. Below are shown some of the most used abbreviations that you can hear if you’re working in a sales department.
Furthermore, you can understand what Q1, Q2, Q3 and Q4 means, what is SLA, CAPEX AND OPEX, ISO, GDPR, CRM and ERP.
What is Q1, Q2, Q3 or Q4?
The calendar year is divided into four quarters:
1 Quarter: 1 January – 31 March
2 Quarter: 1 April – 30 June
3 Quarter: 1 July – 30 September
4 Quarter: 1 October – 31 December
It’s usually used in the sales department to follow their sales reports dividing them into 4 quarters.
What is SLA?
SLA or Service Level Agreement is a contract between two companies that describes what standards should be obligated by the provider. What includes one SLA?
-Time of repair
What is CAPEX and OPEX?
CAPEX AND OPEX are two definitions that are used in the corporate world. The differentiation between them is:
CAPEX means Capital Expenditures and OPEX means Operating Expenses.
CAPEX – office, hardware equipment such as computers
OPEX – monthly salaries of the employees, software costs, rent
What is ISO?
ISO is a certification that covers defined standards. The company is required to follow these standards in order to have this certification. Companies use ISO standards to demonstrate the ability to consistently provide products and services that meet customer and regulatory requirements. The latest ISO standard is 9001:2015.
What is GDPR (General Data Protection Regulation)?
General Data Protection Regulation (GDPR) came into force on May 25, 2018, and it’s designed to protect the personal information of individuals. It means that once you leave your desk, you should not distribute any internal information out of the office- company’s names, prices, client’s personal information.
What is CRM (Customer Relationship Management)?
CRM (Customer Relationship Management) system represents the front office and it carries out all communication and interaction with customers, prospects or business partners and the ERP system takes on the role of the back office, meaning it is responsible for the service creation and billing etc.
What is ERP (Enterprise Resource Planning)?
ERP (Enterprise Resource Planning) system interact with clients, communicate with suppliers. Furthermore, ERP is used for managing and analyzing in-house data for routine tasks across various departments of the company. ERP systems are operative systems for all business transactions and processes.