Polydocs

Automate Data Capture for Infor ERP

Glossary

Pitch

Pitch

Pitch

A pitch is a summary of your story/business idea in a single sentence (max. In one paragraph) – also called a high-concept. It is a kind of advertising slogan, because the term “pitch” originates from the agency or advertising agency industry. Today, startups use a pitch to try to convince investors of their business idea in the shortest possible time.  

A distinction is made between the elevator pitch, the startup pitch and speed pitching sessions.

The supreme discipline is the elevator pitch (“elevator presentation”) and the shortest presentation type of pitch. The name Elevator Pitch comes from the fact that in the past, young entrepreneurs often only had the opportunity to convince successful business people of their ideas in short elevator pitches. Even today, one usually only has a few seconds to arouse the interest of a potential investor. Therefore, in this type of presentation, no additional documents or presentations (Keynote, PowerPoint, etc.) are used. This is because they would be more of a hindrance than a help in such conditions.

In a startup pitch, which is not quite as limited in time as the elevator pitch, presentations often serve as aids – the so-called pitch deck. Even if more time is available for the presentation, it still makes sense to keep it short rather than long. The presentation should therefore be limited to 10-13 slides and not be overloaded with too much text. Less is often more and pictures often say more than a thousand words. This is because many investors listen to dozens of presentations a day and have to concentrate on each individual pitch. As a result, attention spans are usually exhausted after just a few minutes.

Speed pitching session events are modeled on the principle of speed dating. At these events, founding teams have the opportunity to convince a potential investor of their startup idea within a short time (approx. 3 – 5 min.). Then they change the interlocutor, the investor, and the presentation starts all over again. With this type of pitching, startups have the advantage of being able to present their business idea to several potential investors at once.

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What is behind the abbreviation DMS?

DMS

What is behind the abbreviation DMS?

The abbreviation DMS stands for Document Management System. It is basically a system and software that is used to manage, store and track electronic documents and images. This paper-based and unstructured data can be captured through the use of scanners or document capturing softwares. A DMS does not only control and structure documents within an organization but also makes it available and accessible for all. 

A Document Management System (DMS) can also be used to integrate the stored documents and the available information with the company’s business processes. For example, in the Finance department. Scanned and captured invoices can be automatically synchronized with the company’s ERP booking system. Another example could be also in the Procurement department. Related documents to a purchase order can also be integrated via DMS to an Order Management System. 

DMS systems are generally not developed for specific sectors. Nevertheless, it is important to take this into account when looking for the right software. DMS providers with experience in your company’s industry, can better understand and implement it to your business processes.

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What is behind the abbreviation ERP?

erp

What is behind the abbreviation ERP?

The abbreviation ERP stands for “Enterprise Resource Planning”. This is a software that supports companies in resource planning. ERP software integrates a variety of business applications and operational data. To do this, databases that are created in the different areas of a company are linked together and the data is all stored on a central database. 

An ERP system is used to control all the business processes that take place in a company. This includes, for example, purchasing and sales, materials management, production, sales, human resources management and, last but not least, finance. Accordingly, an ERP system contains various areas in a single program and, ideally, all of a company’s processes are covered by it.

There are different systems and providers on the market for different industries. An automobile manufacturer has different requirements for its program than a pure dealer. The pure dealer, for example, does not need sophisticated merchandise management software with bills of materials. A small business also has different requirements than a large corporation. Therefore, there are also different systems that are offered here.

Whichever system is finally chosen, each company decides for itself after an exact examination of all data and facts. After all, it should fit the company, meet its requirements and, above all, make everyday work easier and increase efficiency.

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