Level 2 and 3 credit card processing are transaction types reserved for businesses that accept payments from other organizations (typically high-volume B2B transactions) instead of individual customers. These processing levels can save your company money—but they come with additional requirements, so you need a card processing service that can handle that additional data. We’ll explore…
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Accounts Payable Internal Controls: Best Practices + Free Manual
Accounts payable internal controls are a set of policies, procedures, and practices that ensure the accuracy, integrity, and security of accounts payable transactions.
The main objective of accounts payable internal controls is to reduce the risk of error and fraud that may proliferate in the accounting information system if not detected, prevented, and corrected on time. Having controls in place helps the A/P team deliver on their responsibilities and maintain independence in reviewing and approving all A/P transactions….
What Is a Franchise & How Does It Work? SMB Guide
A franchise is a business model in which a parent company, or licensor, grants permission to a licensee to share its business concept. The resulting business, a franchise, helps the licensor expand while retaining control over products, delivery methods, marketing, and concepts. In return, the licensee receives an established product with permission from the franchise…
What Is HRIS? Overview, Features & Cost
Learn all about HRIS software and how it can help you streamline the recruiting, hiring, and employee management process by aggregating data in one convenient place at an affordable price.
A human resources information system (HRIS) centralizes employee-related information, helping businesses keep track of employee data, job data, and other employment and HR compliance records. It is a software system that manages employee information with systems that include applicant tracking, benefits administration, performance management, time and attendance, and payroll. Costs are generally reasonable at an…
What Is a Business Model: Key Types & How to Create One
Every aspiring entrepreneur should have a roadmap—a strategy for growing their business from a core idea to a profitable venture. A business model defines an entrepreneur’s overall plan for making a profit, identifying its core product (or service), target market, value proposition, and strategy for sustainability. This guide will introduce you to the basics of…
Returns Management: Ultimate Guide for SMBs
Returns management is a supply chain process that addresses unwanted, recently purchased merchandise. It begins with a customer requesting to return an item and ends with the item being returned to inventory, refurbished, recycled, or otherwise disposed of. This article guides you through the process of handling returns, returns management strategies to implement in your…
What Is Customer Service Experience? Strategies, Examples & Tips
Customer service experience is a customer service aspect based on the customer’s interactions with your business’s sales and service teams across the sales cycle—before, during, and after purchasing your product, service, or solution. But the best approach must be holistic, proactive, omnichannel, and ongoing, encompassing the totality of customer experience. Learn what customer service is,…
What Is Customer Service Analytics? Types, Benefits & Examples
Customer service analytics is the process of studying customer behavior, preferences, and expectations to get insights that can improve your customer interactions. This data helps your sales reps connect with prospects better to earn their trust and business. In this guide, we define customer service analytics, its types, benefits, and examples, which can help improve…