CRM, sales and invoicing glossary
In short
57 terms a Hungarian small business meets when choosing a CRM, selling and invoicing, each with a short definition and explanation.
Updated:
- 57terms, each with a short definition
- 19letters, A to Z
- 11tax terms, with their official source
- HU · ENin Hungarian and English
A
- Abandoned cart
- An abandoned cart is a basket put together in an online shop but never ordered: the buyer added something, then left before or during checkout.
- Advance invoice
- An advance invoice is the invoice issued for an advance payment received before delivery.
- API
- An API (application programming interface) is the defined gateway through which one program reads or changes another program's data.
C
- Cash book (házipénztár)
- A cash book (házipénztár) is the record of a company's cash: how much is in the till, and when and why each payment in and out happened.
- Churn
- Churn is the share of customers who stop buying or cancel their subscription in a given period.
- Conversion rate
- A conversion rate is the share of people at one step who take the next, such as the share of visitors who buy.
- CRM
- A CRM (customer relationship management) is software that keeps a company's customers, its conversations with them and its sales opportunities in one place.
- CRM integration
- CRM integration connects the CRM to other systems (a webshop, an invoicing service, a calendar, email) so data moves between them without copying by hand.
- Cross-sell
- A cross-sell is offering the buyer an add-on or related service that goes with what they bought.
- CSV import
- A CSV import loads the rows of a comma- or semicolon-separated text file (CSV), saved from a spreadsheet, into a program, such as bringing customers from Excel into a CRM.
- Customer journey
- The customer journey is the sequence of steps a person goes through from first hearing of a company to buying, and the relationship that follows.
- Customer lifetime value (LTV)
- Customer lifetime value (LTV) is the total revenue or margin a customer brings in over the whole time they stay with a company.
- Customer management
- Customer management is the work of keeping track of a company's customers and its dealings with them, so that no request or quote is lost.
- Customer portal
- A customer portal is a web page where customers see their own records and matters (quotes, invoices, support tickets) without the company having to send each one separately.
- Customer satisfaction (CSAT)
- Customer satisfaction (CSAT) measures how satisfied a customer was with one specific purchase, service or interaction, usually as an answer on a short scale.
D
- Delivery note (szállítólevél)
- A delivery note records which goods the company handed over, when and to whom; it is not an invoice.
- Double opt-in
- Double opt-in is a sign-up that only becomes valid once the person clicks the link in a confirmation email sent to the address they gave.
E
- E-invoice
- Under the Hungarian VAT Act an e-invoice is an invoice issued and received in electronic form.
- Email bounce
- An email bounce is a message the recipient's mail server did not deliver, and sent an error notice back to the sender about it.
- Email campaign
- An email campaign is an email or series of emails sent at once to a chosen list of recipients.
F
- Follow-up
- A follow-up is the agreed next step with a customer, such as a call or an email, scheduled after an earlier conversation or quote.
G
- GDPR
- The GDPR is the European Union's General Data Protection Regulation (2016/679), which sets the rules for processing personal data and the rights of the people concerned.
- Gift card
- A gift card (gift voucher) is a voucher of a set value, identified by a code, that its holder can later use to pay at the issuing company.
I
- Inventory management
- Inventory management is keeping track of how much of each product is in stock and what changed it.
K
- KATA (flat-rate tax for small taxpayers)
- KATA is Hungary's flat-rate tax for small taxpayers, a fixed monthly tax that can only be chosen under stricter conditions since 1 September 2022.
L
- Lead
- A lead is a person or company that has shown interest in a product or service but has not bought yet.
- Lead scoring
- Lead scoring gives prospects points for what they do, so it is clear whom to contact first.
- Link in bio
- A link in bio is a single page that gathers several links, so the one link a social profile allows leads to all of them.
- Loyalty programme
- A loyalty programme is a scheme in which a returning buyer earns points, discounts or other benefits from their purchases, so that they buy from the same place next time.
M
- Marketing automation
- Marketing automation performs repetitive steps by rules set in advance, without anyone stepping in, such as sending emails or creating a task after an event.
- MCP (Model Context Protocol)
- MCP (Model Context Protocol) is an open protocol through which an AI assistant reaches the data and actions of outside systems, through defined tools.
N
- NAV Online Számla
- NAV Online Számla is the Hungarian tax authority's system to which invoicing software reports the data of domestic invoices.
- NPS (Net Promoter Score)
- NPS (Net Promoter Score) measures customer loyalty with one question: how likely, from 0 to 10, they are to recommend the company to a friend.
O
- Online booking
- Online booking lets a customer pick a free slot for a service on the web themselves, without phoning.
- Online shop
- An online shop is a website where buyers put products in a cart, order and pay for them.
P
- Proforma invoice (díjbekérő)
- A proforma invoice (díjbekérő) is a request for payment sent before delivery or before the invoice; it is not an invoice.
- Project management
- Project management is planning a piece of work that has a deadline and a budget, following it through and closing it: who does what, by when, and with how much time and money.
Q
- Quote
- A quote is a written offer to a buyer setting out what the company would supply, at what price and on what terms.
R
- Recurring invoice
- A recurring invoice is a template plus a schedule: the system issues the same invoice by itself at set intervals, monthly for example.
- Round-robin lead assignment
- Round-robin lead assignment hands new enquiries to colleagues in turn, so that every new enquiry has an owner straight away.
S
- SaaS (software as a service)
- SaaS (software as a service) is software used in a browser rather than installed, usually for a monthly or yearly fee.
- Sales forecast
- A sales forecast is an estimate of how much revenue to expect in a given period, based on open deals, invoices already issued and recurring fees.
- Sales funnel
- A sales funnel describes how the number of prospects shrinks step by step from first contact to purchase.
- Sales opportunity (deal)
- A deal (or sales opportunity) is a specific expected sale in a CRM: to whom, what, for how much, and where it stands now.
- Sales pipeline
- A sales pipeline arranges open deals by stage, from the first contact to a deal won or lost.
- Segment (dynamic list)
- A segment is the group of contacts who meet certain conditions, such as a city, a tag or a purchase.
- Self-hosting
- With self-hosting the software runs on the company's own or rented server, so the data stays under the company's control.
- Shared inbox
- A shared inbox is an email address a team handles together (info@ or orders@, for example), where everyone sees incoming mail and it is clear who answers which message.
- SLA (service level agreement)
- An SLA (service level agreement) is a promised level of service; in a helpdesk, usually how soon the first reply and the resolution arrive.
- Small-business VAT exemption (alanyi adómentesség)
- The small-business VAT exemption (alanyi adómentesség) lets a business whose revenue stays below a legal limit charge no VAT on its sales.
- Storno invoice (sztornó)
- A storno invoice is a document that cancels an invoice issued earlier; an issued invoice cannot be deleted or rewritten, only cancelled or corrected.
- Support ticket
- A support ticket is a recorded customer request, with its own number, status, owner and deadline.
U
- Upsell
- An upsell is offering the buyer a more expensive or fuller version of what they chose, such as a larger package.
- UTM parameters
- UTM parameters are labels added to the end of a link (utm_source, utm_campaign and others) that show where a visitor came from.
V
- VAT in Hungary (ÁFA)
- ÁFA is Hungary's value added tax on the sale of goods and services; its standard rate is 27 percent.
W
- Web form (lead form)
- A web form (lead form) is a set of fields on a company's website where an enquirer leaves their details and request, and which becomes a new contact or lead in the CRM.
- Webhook
- A webhook is an automatic notification: when something happens in one system, it sends the event's data to an address in another system.
Questions
How many terms does the glossary hold?
57 terms, A to Z, each with a short definition and an explanation. Tax terms carry their official source, with the date it was checked.
What is a CRM, in short?
A CRM (customer relationship management) is software that keeps a company's customers, its conversations with them and its sales opportunities in one place.