As a business owner, you need to know the lingo that comes with your business technology systems. You might feel confused when your IT service provider starts throwing around different terms in a conversation. That’s why we have created a quick list of IT terms every business owner should know.
Managed Service Provider (MSP)
A managed service provider (MSP) is a company that remotely manages your IT infrastructure and end-user systems. Your IT company will most likely provide these services using a subscription system (as-a-service model). With a managed service provider, you receive the full support of an IT team managing, monitoring, updating, and repairing your IT systems.
The as-a-service (aaS) model allows you to pay a subscription to use certain services, products, and software instead of having to purchase the product or software upfront. This means you can turn large capital expenses to operational expenses.
Just about every technology and software company offers a cloud computing solution, but does the cloud actually mean? Cloud computing allows you to access your data from an off-site server via the internet.
Instead of having a server physically located at your place of business, a cloud provider houses your server in their data center. You access the server through the internet. As long as you have access to the internet, you can access your files. This allows you to work from virtually anywhere.
Internet Service Provider (ISP)
Your internet service provider (ISP) is the company that provides you with internet access. It’s important for you to choose a reliable provider with enough bandwidth so that you can keep your business running smoothly and efficiently. Nothing slows down employee productivity like a slow internet connection.
Customer Relationship Management (CRM)
A CRM or customer relationship management is your strategy for managing customer relationships and interactions. Typically, when people are talking about CRMs, they are referring to the software that helps you manage your contacts, sales, productivity, etc. Ultimately, your goal with a CRM is to improve your relationships with your customers, track your sales funnel, and manage projects.
Enterprise Resource Planning (ERP)
Enterprise Resource Planning refers to the software that helps manage many aspects of your business such as accounting, inventory, and HR. Your ERP is a critical component to running your business efficiently.
Internet of Things (IoT)
The internet of things (IoT) is a network of devices, appliances, headphones, vehicles, etc., that have the ability to connect to the internet. In simple terms, IoT refers to any “smart” device besides a computer that is internet enabled.
You know you need it but what does it really mean? Cybersecurity is the practice of protecting your computers, servers, network, data, and all Internet-connected systems from malicious attacks. There are different subsets of cybersecurity, such as information security, that break down this large subject into more specific areas of concern. With all the stories of data breaches buzzing around in the news, cybersecurity is becoming a high concern for business owners and customers.
Business Continuity and Disaster Recovery (BCDR)
BCDR can be broken down into two terms Business Continuity and disaster recovery. These two terms are often used together because they work hand in hand. The main goal is to limit risk and downtime of your business after an emergency or natural disaster. It’s important for your business to have a backup and recovery plan in place so you can get your business running before your customers go to a competitor.
Personally Identifiable Information (PII)
Any data that could specifically identify you is considered personally identifiable information (PII). The information can be sensitive or non-sensitive. Sensitive data, like medical records or financial information, which could result in harm if released needs to be encrypted.
Virtual Private Network (VPN)
You may have employees are working remotely who need to access company data securely from their location. This is where a VPN or virtual private network comes into play. A VPN allows your employees to securely connect to your network from virtually anywhere. This way, your employees are not putting your company data at risk.
All of these acronyms can quickly become overwhelming. This guide will help you learn the IT terms every business owner should know.
Need to brush up on other tech terms? Check out our telephony guide here!