GLOSSARY
Enterprise Resource Planning (ERP)
System that unifies finance, procurement, inventory, and operations data.
ERP platforms centralize accounting, purchasing, inventory, and reporting so teams have a single source of truth.
ERPs like our ERP platform connect to POS, PMS, RMS, and HRM to synchronize costs, stock, and labor across the business. Core modules span GL, AP/AR, purchasing, inventory, and fixed assets.
Hospitality and retail often extend ERP with recipe/BOH costing, vendor catalogs, and landed-cost tracking. Tight ERP integration reduces reconciliation effort, speeds month-end close, and feeds real-time margin and variance reporting.
Related
Related terms.
-
Acquirer
Bank or payment institution that signs merchants and routes their card transactions into the card networks.
-
API (Application Programming Interface)
A set of rules and protocols that allows different software applications to communicate with each other.
-
Apple Pay
Mobile wallet by Apple that tokenizes cards for contactless and in-app payments.
-
BaaS (Banking as a Service)
A model where licensed banks expose banking capabilities to other companies via APIs, letting them embed accounts, cards, or payments.