Glossary

ERP stands for Enterprise Resource Planning. It's a type of software system that businesses use to manage and integrate essential parts of their operations. An ERP system functions as a central hub for data and processes, aiming to streamline information flow, improve efficiency, and provide a unified view of core business activities.

Enterprise resource platform (ERP) integration is the process of connecting all your business systems to your ERP. This can be as simple as configuring data systems and payment gateways to interact efficiently with your ERP or may involve using specialized software to extend their native capabilities and optimize data streams. 

Expansion revenue refers to the additional revenue generated by your existing customers. It represents the growth in their spending beyond their initial purchase or contracted amount. In simpler terms, it's the money you earn from your customers when they buy more, upgrade their plans, or add new features and services.

Expense management refers to the process of overseeing, controlling, and optimizing expenses incurred by individuals, businesses, or organizations.

An expense report is a document used by individuals or employees to record and report business-related expenses incurred during the course of their work.

An expenses app, also known as an expense management app or a spending tracker app, is a mobile application designed to help individuals or businesses track, manage, and control their expenses.

Extract, Transform, Load (ETL) is a fundamental process in financial data management. It refers to the steps involved in collecting financial data from various sources, preparing it for analysis, and storing it in a central location for easy access and reporting.

Financial reconciliation, or account reconciliation, is the process of comparing two or more business records to confirm the information they contain matches. This ensures accuracy across the business, reduces revenue leakage, supports compliance processes and equips decision-makers with the most reliable data possible.

‘Financials First’ is an approach or strategy in business software implementation where the financial management modules of an enterprise resource planning (ERP) system, like NetSuite, are implemented and prioritized before other modules or functionalities.

A fixed asset register is a physical log or software system that keeps a record of all the assets a business owns.