Software solutions are very popular in the business world. And why wouldn’t they be? Cutting-edge software technologies offer a variety of advantages for business in need of streamlining certain operations. Maybe you’ve already heard about some of them without even knowing, because they all go by these fancy acronyms – CRM, BPM, PM, LC software, and so on.
If you want to find out what CRM, BPM or any of the other popular “acronym” software solutions are, you have stumbled on the right article. Let’s see which software solutions used in business ecosystems are the most popular and what those acronyms stand for.
What is CRM software?
CRM stands for customer relationship management. A CRM software solution includes a variety of tools that make the lives of sales, service and marketing departments much easier. In layman terms, CRM software is used to manage a customer-business relationship.
Depending on the features it comes with, its use cases may go from business contacts and leads management to sales projection and sales process optimization. The most beneficial features are designed to improve the management of CRM business processes. Some of them are customer data and interaction, automated sales, lead tracking, sales, marketing and customer service analytics, and many other. If you want to find a more detailed answer to the “What is CRM?” question, you can visit this page.
What is BPM software?
BPM stands for business process management. BPM software solutions are designed to help the organizations analyze, modify and monitor their workflow so that it becomes more effective. BPM software has become a must-have for organizations that have to thrive in volatile, saturated and ever-changing markets.
With BPM software in your hands you will be able to adopt your process to the changes that emerge in the market, while at the same time not having to sacrifice your productivity and efficiency. Many vendors that specialize in business software solutions have started to include features that support business process management.
What is LC software?
LC stands for live chat and live chat software, and it’s exactly what it seems to be – a software that enables you to communicate with your website visitors. While this not a brand new software solution on the market it became very popular with the expansion of ecommerce and SaaS industries. It provides unique opportunities for businesses to engage with prospects and leads, the moment they arrive on the website.
Live chat software is also popular in businesses with extensive customer support services, where it plays the crucial role in ticket deflection, improving customer satisfaction and resolving customer issues on the go.
What is PM software?
PM, is nothing else but project management. Project management software is one of the most commonly used software solutions by business of all sizes. These solutions put the power back in the hands of busy managers, as PM software is used to streamline project management efforts. The latest versions even come with dedicated mobile apps so that managers can do it on the go and from whatever device.
The most common features of PM software go as follows:
- Project planning and scheduling
- Time tracking
- Team collaboration
- Reporting and notification system
In other words, everything a manager and their team need to stay on top of their tasks and see them through before a deadline.
What is KB software?
KB stands for knowledge base, and knowledge base software is another popular tool that comes from the business software toolbox. This software is used for storing the most valuable business information. This can include the best practices, user guides and documentation for employees and customers. FAQ, and so on.
With this software you can create powerful online pages and help both your employees and customers. The KB software support the creation of both internal KB, where your employees are the target audience, and external KB, where your customers are your audience. The latest versions of this software are completely mobile-ready, which makes them very convenient for users – both those who write and those who read the content.
What is LMS software?
LMS software is a cornerstone of online learning. LMS stands for learning management system, and LMS software streamlines course creation and management of the learning process. If you have ever participated in an online course, the chances are that it was created and published via an LMS software solution.
Organizations use it to provide new training opportunities for their employees and keep them motivated, as well as for compliance training and onboarding training. Since the continued education of employees offers a great deal of benefits for organizations, LMS software has become a very popular tool in the business world.
Now that you know which five software solutions can improve your business, try to find the one that best aligns with your business goals and needs. The right business software can really help you streamline your workflow and make room for more productivity, efficiency and cost reduction.