In today’s competitive landscape, choosing the right technology can significantly enhance a business’s efficiency and flexibility. However, navigating the multitude of options and deciphering the sea of acronyms associated with software can be overwhelming. in this blog, we provide a handy glossary of essential acronyms and software jargon, ensuring you can distinguish your ERP from your DOP with confidence.
If researching new software solutions, visit our Choosing Software Guide designed to simplify the process of discovering what software you need and what options are available to best manage and grow your wine business. This guide is packed with practical advice from successful wine businesses who have experienced and tested different software solutions.
API (Application Programming Interface)
An API is the virtual vehicle allowing two applications (bits of software) to communicate with each other.
Integration
In the software world, this is the joining of one software into another system, using an API. The integration can be very simple and generic, or complex and custom for industry specific and advanced functionality.
DOP (Digital Operating Platform)
A single platform or system incorporating many integrations and often several solutions, that are experience-driven by nature, and are agile enough to evolve quickly alongside market opportunities and industry needs. DOP enables a best-in-class tech stack for a business.
ERP (Enterprise Resource Planning)
A term created in the 90s to describe a suite of integrated business applications. Originally purposed to serve manufacturing resourcing and processes, then evolving to encapsulate Accounting, CRM and BI.
ERP or DOP?
Research by leading tech consultancy Forrester suggests traditional ERPs fail to deliver the speed, flexibility, and intelligence necessary for today’s digital era, hailing DOPs as the way forward.
SaaS (Software as a Service)
A complete software solution, which is cloud-based and a pay as you go / subscription model. SaaS means no more on-premise software in your building with the concern of cyber security, servers and infrastructure. SaaS empowers remote working, as the software can be accessed anywhere with an internet connection.
On-prem (on-premise software)
This refers to an IT infrastructure / data centre, including software applications and hardware, which are physically hosted on site (i.e. your office), so you also have your own servers.
Cloud
The opposite of on-prem. Servers hosting IT infrastructure and data are accessed via the internet through a third-party provider. SaaS stems from cloud computing.
What’s safer, cloud or on-prem?
Whilst either can be as secure as the other in theory, general opinion is cloud is the more secure due to the heavy, continual security investment.
BI (Business Intelligence)
The use of technology to mine and analyse business data and transform it into actionable insights for informed decision making. A step up from reporting!
POS (Point of Sale)
This refers to a physical shop or retail environment at the point where a sale takes place, however people use the same phrase POS when referring to the till software or system, while others differentiate by calling it ePOS, (electronic point of sale). A POS system or ePOS system is the wider digital solution managing inventory and uniting stock and transactions online and offline.
Wine Hub is a business management platform for wine businesses, developed by and for the wine industry. Wine Hub manages inventory, optimises daily operations, prioritises customer experience and helps increase revenue through centrally mastered multi-channel selling. Get a demo or speak to our team to start researching if this software solution is the right one for your business.
