Customer serviceCustomer service is the assistance and advice provided by a company to those people who buy or use its products or services. Each industry requires different levels of customer service, but towards the end, the idea of a well-performed service is that of increasing revenues. The perception of success of the customer service interactions is dependent on employees "who can adjust themselves to the personality of the customer". Customer service is often practiced in a way that reflects the strategies and values of a firm.
Present valueIn economics and finance, present value (PV), also known as present discounted value, is the value of an expected income stream determined as of the date of valuation. The present value is usually less than the future value because money has interest-earning potential, a characteristic referred to as the time value of money, except during times of zero- or negative interest rates, when the present value will be equal or more than the future value. Time value can be described with the simplified phrase, "A dollar today is worth more than a dollar tomorrow".
Payment service providerA payment service provider (PSP) is a third-party company that allows businesses to accept electronic payments, such as credit cards and debit cards payments. PSPs act as intermediaries between those who make payments, i.e. consumers, and those who accept them, i.e. retailers. They will often provide merchant services and act as a payment gateway or payment processor for e-commerce and brick and mortar businesses.
Plain old telephone servicePlain old telephone service (POTS), or plain ordinary telephone system, is a retronym for voice-grade telephone service employing analog signal transmission over copper loops. POTS was the standard service offering from telephone companies from 1876 until 1988 in the United States when the Integrated Services Digital Network (ISDN) Basic Rate Interface (BRI) was introduced, followed by cellular telephone systems, and voice over IP (VoIP). POTS remains the basic form of residential and small business service connection to the telephone network in many parts of the world.
Online service providerAn online service provider (OSP) can, for example, be an Internet service provider, an email provider, a news provider (press), an entertainment provider (music, movies), a search engine, an e-commerce site, an online banking site, a health site, an official government site, social media, a wiki, or a Usenet newsgroup. In its original more limited definition, it referred only to a commercial computer communication service in which paid members could dial via a computer modem the service's private computer network and access various services and information resources such as bulletin board systems, downloadable and programs, news articles, chat rooms, and electronic mail services.
Service economyService economy can refer to one or both of two recent economic developments: The increased importance of the service sector in industrialized economies. The current list of Fortune 500 companies contains more service companies and fewer manufacturers than in previous decades. The relative importance of service in a product offering. The service economy in developing countries is mostly concentrated in financial services, hospitality, retail, health, human services, information technology and education.
CommerceCommerce is the large-scale organized system of activities, functions, procedures and institutions that directly or indirectly contribute to the transfer of goods and services on a large scale and at the right time, place, quantity and price from the original producers to the final consumers within local, regional, national or international economies. The English-language word commerce has been derived from the Latin word commercium, from com ("together") and merx ("merchandise"). Commerce is not business (i.
Loose couplingIn computing and systems design, a loosely coupled system is one in which components are weakly associated (have breakable relationships) with each other, and thus changes in one component least affect existence or performance of another component. in which each of its components has, or makes use of, little or no knowledge of the definitions of other separate components. Subareas include the coupling of classes, interfaces, data, and services. Loose coupling is the opposite of tight coupling.
Electronic businessElectronic business (also known as online business or e-business) is any kind of business or commercial transaction that includes sharing information across the internet. Commerce constitutes the exchange of products and services between businesses, groups, and individuals and can be seen as one of the essential activities of any business. Electronic commerce focuses on the use of information and communication technology to enable the external activities and relationships of the business with individuals, groups, and other businesses, while e-business refers to business with help of the internet.
