Call center fraud is the deliberate act of faking an identity in a phone call to access confidential information or take control of user accounts. It manifests in various forms, including phishing, account takeover, and card not present (CNP). To prevent bad actors from infiltrating your system, understand the common types of deceitful practices, invest…
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What Is an Invoice Number & How to Design a Numbering System?
An invoice number is a unique and sequential number assigned to each invoice document. Invoice numbers can be purely numeric, such as 10021, or alphanumeric, such as INV-10021. It allows businesses and customers to refer to a particular invoice easily when multiple invoices exist, making it much easier to match invoices with payments. For small…
What Is Commercial Property Insurance?
Commercial property insurance is an important business policy that either replaces or repairs damaged commercial property. Different types of commercial property insurance cover different types of property, such as tools and equipment or the printers in an office. Business owners who own a building, furniture, or equipment should strongly consider purchasing it. Commercial property insurance…
What Is Bulk Email Marketing? Why It Works + Examples
Bulk email marketing (also called “mass email marketing”) is one of the oldest forms of digital marketing—mainly because it’s enduringly effective. If you open your inbox on any given day, you’ll likely find a dozen or so marketing emails, from newsletters to limited-offer coupons. That’s because emails remain a meaningful way to reach your audiences….
What Is Vendor Managed Inventory? Pros, Cons & Examples
Vendor managed inventory, or VMI, is a collaborative strategy that differs from traditional supply chain models by bridging the gap between suppliers and retailers to make inventory management a shared responsibility. VMI can benefit both vendors and retailers if done correctly, but it requires careful setup and close communication. In this article, we’ll cover what…
Commercial General Liability Insurance Cost & Coverage 2024
Commercial general liability insurance coverage, or CGL coverage, protects businesses from financial losses due to third-party bodily injury, property damage, and personal advertising and reputational harm claims. A small business owner with a yearly revenue of around $200,000 can generally expect to pay $170 to $13,000 annually. The wide range reflects the inherent risks of…
What Is Talent Management & How to Apply It—Ultimate Guide
For HR professionals and small business owners, understanding talent management ensures that the right talent is in place to meet current and future business objectives. Effective talent management also enhances employee satisfaction and engagement. Therefore, having robust talent management strategies are essential for fostering a high-performance culture that aligns individual achievements with the company’s broader…
Pros and Cons of Crowdfunding a Business
Before proceeding with a crowdfunding campaign, it’s important to factor in the potential advantages and disadvantages to determine if it’s a suitable option to raise funds for your business. For businesses considering this route, we’ve put together a list of the pros and cons of crowdfunding to help you prepare for your campaign. Pros of…