ACA
The Affordable Care Act, often referred to as Obamacare. Passed in 2010, it is a requirement by all U.S. employers to offer insurance for full-time employees.

ACH
Automated clearing house. An electronic network for financial transactions within U.S. boundaries that processes payments in large volumes.

Agile solutions
Business solutions that can adapt quickly and efficiently to company needs.

Angel investors
Wealthy business leaders interested in providing loans and services to startup companies usually without much gain (unless the company is extremely successful).

AP
Accounts payable. Money owned by an organization or company to its suppliers as a liability on balance sheets.

App
Short for application. A self-contained program that fulfills a certain purpose and is downloaded to mobile devices.

AR
Accounts receivable. Money owned by customers to another company or organization in exchange for goods and services.

Asset management
The management, procurement, operation, maintenance, upgrading and disposal of valuable assets such as properties, investments and cash equivalents. Sage has asset management software: Sage Fixed Assets.

Benefits administration
The administration of services such as paychecks, health insurance, and deductibles for a company or business. Some HRIS systems, like Sage HRMS, do this.

Big data
Data sets that are large and complex enough to warrant specialized data-analytic software.

Business intelligence
Technology-driven process for data analysis and presenting actionable information.

Business management solutions
Programs, cloud-based tools and initiatives that aid business managers with controlling, leading, monitoring and planning business activities.

Chip and PIN
A global standard of credit and debit payments using an electronic chip on the card and PIN number.

Cloud
Data that is stored in an external hard drive in a different location. Find out more.

Contactless payments
Payments that are made using mobile devices, credit or debit cards and an NFC terminal. Sage has terminals that handle contactless payments.

CPA
Certified Public Accountant. Requires successful completion of the AICPA exam. You can receive contuining education credits thorugh Sage Summit, the largest small business conference in the world.

Customer relationship management (CRM)
An approach toward managing interactions between the company and the customer. Sage CRM is a system that makes that management easier.

Crowdfunding
The act of drawing masses together via digital means to support a cause or effort.

Crowdsourcing
The act of drawing masses together via digital means to create digital content or "native" advertising.

Customizable
Any medium that provides an opportunity for quick changes that differentiate it from another product or service.

Deductibles
Any services, goods or items a business can use as a subtraction from taxes in the following season.

Depreciation
The decrease in value of an object or asset over a set period of time. Asset management products, like Sage Fixed Assets, enable you to do this easily.

E-check
Electronic checks delivered by email or online payment processing system.

E-filing
A form or other document that can be filled out via an electronic device.

Ecommerce
Any business that provides services or goods sold through an online website or platform.

Enterprise
A term for business or company that implies a larger scale organization. Enterprises are usually larger than 500 employees.

ERP
An acronym for enterprise resource planning. ERP software is used to collect, store, manage and interpret data from various business activities.

Fixed assets
Assets, programs, or services that are purchased for long-term usage. Fixed assets include land, buildings and equipment.

Fraud
Any act of crime that tricks a party in the process – for example a false business deals or promises of payment after services.

Gift card
A card preloaded with store credit up to a certain dollar amount.

GL
General ledger. A term for a company's complete record of financial transactions over the entire lifetime of the company.

HR
Human Resources. Manages payroll, hiring and interpersonal relations in an office.

HRMS
Human resource management software. Used to manage payroll, benefits, performance reviews, applicant tracking and employee self-services.

HRIS
Human resource information system. Used to track addresses, social security numbers, tax status and withholding information.

Hybrid cloud
Cloud computing environment that uses a mixture of on-premise private cloud services and third-party cloud software with an immediate connection between the two.

ISO
The International Organization for Standardization. Non-governmental organization that produces occupational, environmental and business standards that require certification and testing.

Lead pipeline
The lifecycle of research-to-purchase behavior by consumers towards discovering a brand or service.

Learning management system
Software application for that administers, tracks, reports, and delivers e-learning technology, courses and training programs. Some HRIS systems have that capability built in, like Sage HRMS.

Loyalty card
A card that customers can use to build rewards such as points towards a free or discounted item. Sage Payment Solutions has options that can build this reward system.

Mid-market
A company with sizeable revenues between $50 million and $1 billion.

Mobile device
Equipment that is not attached to a surface or fixture and therefore can be taken on-the-go. Some examples include laptops, smartphones, and tablets.

Mobile payments
Payments made to a company or organization via a mobile device such as a tablet, smartphone, or wearable technology. Mobile payments can include a swiper that attaches to a mobile device and contactless or NFC payments.

Net-D
Hyphenated as Net-10, Net-15, Net-30 and Net-60, Net-D are forms of trade credit that specify the net amount expected to be paid in full by a seller within 10, 15, 30 or 60 days.

Nontraditional funding
Any funding that is obtained outside of normal means such as loans, crowdfunding, stock investment or cashout.

NFC
Near-field communication device. This includes mobile card readers.

On-premises, on-prem, on-premise
Any body of work that takes place in the office space or on a work site. For examples, if your ERP (enterprise resource planning) is on-premises, it’s at your physical location versus in the cloud (or off-site).

Outsource
The act of sending work to be completed remotely or off-site.

PATH act
Protecting Americans from Tax Hikes. The act was passed in 2015 as a means to protect businesses from unfair tax spikes. Find out more about taxes.

Payment processing
The act of handling payment transactions from different channels such as debit and credit for banks using front-end and back-end processing. Payments can include anything that enables your business to accrue money for goods and services sold. Among the types of payment processing are debit and credit card processing, online processing (like ACH and electronic checks), physical checks, mobile payment processing (taking payments on the go), and accepting gift cards. See Sage Payments.

Payroll
A list of organizational employees and the amount of money each should be paid.

PCI
Payment Card Industry standard. The standard for connection computers and related devices. Sage is PCI-complaint, which is important for payment processing.

Plug-in
A module that can be added to software to give extra functions and features.

Private cloud
Cloud computing programs or data that exists within a closed network, i.e. can only be accessed by computers or accounts with permission.

Professional development
The advancement and fulfillment of business and personal goals for an individual, company, or organization. Some HRIS systems track employees’ career paths and training, like Sage HRMS.

Real-time
The actual time in which a process or event occurs. Watching an event live on TV is an example of real-time.

SaaS
Software as a service is an online, cloud-based software option that charges for subscription or usage via the Internet.

Sales pipeline
The lifecycle of path-to-purchase behavior for consumers. Also referred to as the sales funnel.

SAN member
Sage Accountants Network member.

SBA
Small Business Association of America. Dedicated to helping small businesses through workshops and memberships.

Scalable
Elements of a business that can be increased or decreased easily, i.e. company structure.

SCORE
U.S. nonprofit association of over 13,000 members dedicated to helping small businesses grow strong.

Segment
An area or particular demographic of a market or consumer base.

Self-service
A product or service that can be accessed by the individual without outside assistance.

Small business
A company with less than $50 million in revenue and under 100 staff members.

Smartphone
A cellular phone with the ability to access the Internet and download various applications.

SMB
Small to medium-sized businesses.

Third-party vendor
An outside vendor used to purchase goods or services unrelated to the primary company.

Value pricing
The setting of a product or service price point depending upon the benefit it provides to customers.

Venture Capitalists
Wealthy investors interested in pooling funds for small and medium-sized businesses under third-parties.

Wearables
Wearable technology such as smartwatches and Bluetooth enabled rings that notify users of incoming messages or updates.

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