Business OPS Terminology

Question 1

IVR

Answer 1

Interactive Voice Response Interactive voice response is a technology that allows a computer to interact with humans through the use of voice and DTMF tones input via a keypad

Question 2

WIN

Answer 2

What’s Important Now

Question 3

(LI)2

Answer 3

Learn and Inovate

Question 4

PHT

Answer 4

Phone Handle Time AHT is the average time it takes to handle a call or transaction from start to finish – from call initiation, to hold time, to talk time, and all the way through to any related tasks an agent must perform post-phone call to resolve that call.

Question 5

CHT

Answer 5

Chat Handle Time To calculate AHT for a phone channel, you need to divide the sum of your total talk, hold, and follow-up time by your total number of calls. Follow-up time includes the time it takes to get back to a customer if the case is not resolved on the initial call or chat.

Question 6

BPO

Answer 6

Business Process Outsourcing (BPO) is a subset of outsourcing that involves contracting the operations and responsibilities for a particular business process to a third-party service provider. As a Business Process Outsourcing partner, TaskUs provides customer experiences and back office operations for our clients.

Question 7

LIBOR

Answer 7

London Interbank Offering Bank The London Inter-bank Offered Rate is an interest-rate average calculated from estimates submitted by the leading banks in London. Each bank estimates what it would be charged were it to borrow from other banks. The resulting rate is usually abbreviated to Libor or LIBOR, or more officially to ICE LIBOR.

Question 8

WFHTK

Answer 8

Work From Home Tool Kit

Question 9

MVP

Answer 9

minimum viable product (MVP) is a development technique in which a new product or website is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product’s initial users

Question 10

ACH

Answer 10

ACH An automated clearing house is a computer-based electronic network for processing transactions, usually domestic low value payments, between participating financial institutions. It may support both credit transfers and direct debits.

Question 11

EPS

Answer 11

Earnings per share (EPS) is calculated as a company’s profit divided by the outstanding shares of its common stock. The resulting number serves as an indicator of a company’s profitability. It is common for a company to report EPS that is adjusted for extraordinary items and potential share dilution. The higher a company’s EPS, the more profitable it is considered.

Question 12

IBR

Answer 12

Income-Based Repayment (IBR) is a federal student loan repayment program that adjusts the amount you owe each month based on your income and family size. … You are a new borrower or had no outstanding balances on a federal student loan when you received the new loan.

Question 13

AHT

Answer 13

Average handle time (AHT) is a call center metric for the average duration of one transaction, typically measured from the customer’s initiation of the call and including any hold time, talk time and related tasks that follow the transaction.

Question 14

FTE

Answer 14

An FTE is the hours worked by one employee on a full-time basis. The concept is used to convert the hours worked by several part-time employees into the hours worked by full-time employees. On an annual basis, an FTE is considered to be 2,080 hours, which is calculated as: 8 hours per day.

Question 15

NPS

Answer 15

The Net Promoter Score is an index ranging from -100 to 100 that measures the willingness of customers to recommend a company’s products or services to others. It is used as a proxy for gauging the customer’s overall satisfaction with a company’s product or service and the customer’s loyalty to the brand.

Question 16

VTO

Answer 16

Voluntary Time Off (VTO). The VTO Program is an option for employees looking to balance work and personal/family demands. Full time employees can use VTO to reduce their fiscal year working hours without losing full time employee benefits.

Question 17

PTO

Answer 17

Paid time off (PTO) is an employer-provided benefit that grants employees compensation for personal time off, vacation days, federal holidays, sick leave, and maternity and paternity leave. Paid time off policies are not a requirement of the Fair Labor Standards Act (FLSA).

Question 18

MLO

Answer 18

(Home Loans) A Loan Originator or Mortgage Loan Originator (MLO) is the front door to the mortgage getting process. An MLO has two jobs; the first is to persuade you that their lending prowess is your best borrowing option. The second is to help you navigate your way to the closing table.

Question 19

EXL Service

Answer 19

EXL Service is an American multinational professional services company mainly involved in the operations management and analytics. EXL offers insurance, banking, financial services, utilities, healthcare, travel, transportation and logistics services.

Question 20

Market Capitalization

Answer 20

the total dollar market value of a company’s outstanding shares. Referred to as the market cap, calculated by multiplying shares outstanding by the current market price of one share. Use this figure to determine a company’s size, as opposed to using sales or total asset figures

Question 21

Leverage Ratio

Answer 21

Financial measurement that looks at how much capital comes in the form of debt (loans), or assesses the ability of a company to meet its financial obligations. Important given that companies rely on a mixture of equity and debt to finance operations, and knowing the amount of debt held by a company is useful in evaluating whether it can pay its debts off as the come due

Question 22

Hedge Fund

Answer 22

Alternative investments using pooled funds that employ numerous different strategies to earn active return, or alpha, of investors. Aggressively managed, uses derivatives and leverage in both domestic and international markets with the goal of generating high returns. Generally accessible to accredited investors, requires less SEC regulations than other funds

Question 23

Balance Sheet

Answer 23

Financial statement that summarizes a company’s assets, liabilities and shareholders’ equity at a specific point in time. Gives investors an idea as to what the company owns and owes, as well as the amount invested by shareholders

Question 24

Inventory Turnover

Answer 24

Shows how many times a company’s inventory is sold and replaced over a period of time.

Question 25

Dividend

Answer 25

Distribution of a portion of a company’s earnings, decided by the board of directors, paid to a class of its shareholders. Can be issued as cash payments, shares of stock or other property

Question 26

Enterprise Value

Answer 26

A measure of a company’s total value, often used as a more comprehensive alternative to equity market capitalization. Calculated as the market capitalization plus debt, minority interest and preferred shares, minus total cash and cash equivalents

Question 27

Quick Ratio

Answer 27

An indicator of a company’s short-term liquidity, and measures a company’s ability to meet its short-term obligations with its most liquid assets. Excludes inventories from current assets

Question 28

Free Cash Flow

Answer 28

Measure of a company’s financial performance, calculated as operating cash flow minus capital expenditures. Represents the cash that a company is able to generate after spending the money required to maintain/expand its asset base. Allows a company to pursue opportunities that enhance shareholder value

Question 29

Economies of Scale

Answer 29

Reduced costs per unit that arise from increased total output of a product. EX: A larger factory will produce power hand tools at a lower unit price, and a larger medical system will reduce cost per medical procedure

Question 30

Discount Rate

Answer 30

Interest rate charged to commercial banks and other depository institutions for loans received from the Federal Reserve’s discount window

Question 31

Deferred Annuity

Answer 31

Delays income, installment or lump-sum payments until the investor elects to recieve them. Two main phases: savings, which is when you invest money into the account, and income, which is when the plan is converted into an annuity begins paying the account owner. Can be variable or fixed.

Question 32

Inflation

Answer 32

The rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling.

Question 33

Gross Margin

Answer 33

Company’s total sales revenue minus its cogs, divided by total sales revenue, expressed a s a percentage. Represents the percent of total sales revenue that the company retains after incurring the direct costs associated with producing the goods and services it sells. The higher the percentage, the more the company retains on each dollar of sales, to service its other costs and debt obligations.

Question 34

Book Value

Answer 34

the value at which the asset is carried on a balance sheet and calculated by taking the cost of an asset minus the accumulated depreciation. Also the net asset value of a company, calculated as total assets minus intangible assets (patents, goodwill) and liabilities.

Question 35

Short Selling

Answer 35

The sale of a security that is not owned by the seller or that the seller has borrowed. Motivated by the belief that a security’s price will decline, enabling it to be bought back at a lower price to make a profit.

Question 36

Basis points (BPS)

Answer 36

Basis points (BPS) refers to a common unit of measure for interest rates and other percentages in finance. One basis point is equal to 1/100th of 1%, or 0.01%, or 0.0001, and is used to denote the percentage change in a financial instrument.

Question 37

B2B

Answer 37

Borrower to Borrower

Question 38

Top of the Funnel

Answer 38

A user is just starting to do research about a product and is unsure about technical requirements or exact needs with the product. They might spend time research different brands right now and try to understand which brand would suit their needs.

Question 39

Middle Funnel

Answer 39

Users are clued into the most popular brands and may have signed up for some email campaigns to receive information about products from these brands. They have built up expectations about what they want now and will disregard brands that they see as not able to provide good value and quality for them.

Question 40

“Bottom of the Funnel” or “Lower Funnel”

Answer 40

Users have now decided on their favorite brands now and start to look for reviews and information from customers to really inform them on what they will get when they purchase from them. Remarketing and long-tail keyword optimization will help you to stay in the mind of your users at this stage of the conversion process.

Question 41

KPI

Answer 41

Key Performance Indicators (KPIs) are the critical (key) indicators of progress toward an intended result. KPIs provides a focus for strategic and operational improvement, create an analytical basis for decision making and help focus attention on what matters most. As Peter Drucker famously said, “What gets measured gets done.”

Question 42

OKR

Answer 42

Objectives and key results (OKR) is a goal-setting framework for defining and tracking objectives and their outcomes.

Question 43

Balanced scorecard

Answer 43

A balanced scorecard is a strategy performance management tool – a semi-standard structured report, that can be used by managers to keep track of the execution of activities by the staff within their control and to monitor the consequences arising from these actions.

Question 44

WoW

Answer 44

Week Over Week: To calculate month-over-month growth for a single month, simply take the difference between this month’s total number of users and last month’s total number of users, and then divide that by last month’s total. You can use the same formula to calculate your week-over-week growth or year-over-year growth.

Question 45

MoM

Answer 45

Month Over Month: To calculate month-over-month growth for a single month, simply take the difference between this month’s total number of users and last month’s total number of users, and then divide that by last month’s total. You can use the same formula to calculate your week-over-week growth or year-over-year growth.

Question 46

YoY

Answer 46

Year over Year: To calculate month-over-month growth for a single month, simply take the difference between this month’s total number of users and last month’s total number of users, and then divide that by last month’s total. You can use the same formula to calculate your week-over-week growth or year-over-year growth.

Question 47

Total Variable Profit

Answer 47

The variable margin starts with sales revenues but uses the cost of selling and administration as a way to figure your profit percentage. Add up your total revenue from sales. Add up all of your costs for marketing and administration, as well as shipping and invoicing. Subtract your variable costs from your revenues. Divide your variable costs by your profit and multiply by 100. For example, sales of $1,000,000 minus variable costs of $150,000 equals 850,000. Divide 150,000 by 850,000 for a figure of 0.17. Multiply by 100 and your variable costs are 17 percent of sales. The variable profit margin is 83 percent.

Question 48

Gross Profit

Answer 48

Gross profit margins are figured by total sales. You subtract the cost of goods sold from sales revenues. Cost of goods sold is calculated like this: beginning inventory plus new inventory minus ending inventory. So your gross margin is sales minus cost of goods sold. You can turn this into a percentage by dividing your profit by cost of goods sold and multiplying by 100. For example, sales of $1,000,000 on a $700,000 as a cost-of-goods-sold figure should be calculated as 1,000,000 minus 700,000, which equals $300,000 profit. Divide the profit of 300,000 by 700,000 which equals 0.42. Multiply by 100 and you find a 42 percent gross profit margin. The cost of goods sold is 58 percent of sales.

Question 49

Gross Margin Pricing

Answer 49

Use a simple formula to maintain your gross margin when pricing items. Subtract the margin from 100 percent, and divide the cost of the item by the result. For example, if you want a 30 percent margin and an item costs $5, divide five by (100 percent minus 30 percent). This means you divide five by 70 percent. It is easier to put it this way: five divided by 0.70. This equals 7.14. Set the price at $7.14 to maintain a 30 percent gross margin.

Question 50

Variable Plus Gross Margin Pricing

Answer 50

Use your variable expenses and your gross margin to cover all of your costs when setting prices. Find the cost of your item, such as $5. Divide by both the gross margin and the variable expenses. You might have a gross margin of 30 percent and variable expenses of 15 percent. So five divided by (100 percent minus 30 percent minus 15 percent) translates to five divided by 55 percent. Write it as five divided by 0.55. You find that you need to set a price of $9.09 to cover all your costs.

Question 51

CPFA

Answer 51

The Certified Plan Fiduciary Advisor (CPFA) credential – developed by some of the nation’s leading advisors and retirement plan experts – demonstrates your knowledge, expertise and commitment to working with retirement plans.

Question 52

CFP

Answer 52

CFP ( Certified Financial Planner) CFP is an internationally recognised certification and is considered to be the gold standard in Investment Advisory / Financial Planning Industry. … CPFA ( Certified Personal Financial Advisor ) CPFA is the certification exam given by NISM

Question 53

MAU

Answer 53

Monthly active users (MAU) is a key performance indicator (KPI) used by social networking and other companies to count the number of unique users who visit a site within the past month. Websites generally recognize monthly active users via an identification number, email address, or username.

MAU helps to measure an online business’s general health and is the basis for calculating other website metrics. MAU is also useful when assessing the efficacy of a business’s marketing campaigns and gauging both present and potential customers’ experience. Investors in the social media industry, pay attention when companies report MAU, as it is a KPI that can affect a social-media company’s stock price.

Question 54

DTMF

Answer 54

Dual-tone multi-frequency signaling (DTMF) is a telecommunication signaling system using the voice-frequency band over telephone lines between telephone equipment and other communications devices and switching centers.[1] DTMF was first developed in the Bell System in the United States, and became known under the trademark Touch-Tone for use in push-button telephones supplied to telephone customers,

Question 55

MCC

Answer 55

A Merchant Category Code (MCC) is a four-digit number listed in ISO 18245 for retail financial services. An MCC is used to classify a business by the types of goods or services it provides.

Question 56

IDP

Answer 56

IDP (internal data products) have a quality control process which is tuned towards mass production. Due to the large number of products, and due to the standardized pipeline process, it is not feasible, and not necessary, to check each individual product. Instead a statistical monitoring has been implemented.

Question 57

White Label

Answer 57

White label products are made by one company and packaged and sold by other companies under various brand names.

Question 58

ITA

Answer 58

“invitation to apply” They come with a standard application and do not constitute any type of actual pre-approval. Credit-card offers that say you’re pre-approved, pre-screened, pre-qualified, pre-selected – or any other “pre,” for that matter – are known as “invitation to apply” (ITA) offers

Question 59

EBITA

Answer 59

Earnings before interest, taxes, and amortization (EBITA) refers to a company’s earnings before the deduction of interest, taxes, and amortization expenses. It is a financial indicator used widely as a measure of efficiency and profitability.