Agile project management (APM) is the process of breaking down projects into smaller, manageable sections to focus on the continuous improvement of a product or service. With this approach, teams enhance their speed and collaboration by repeatedly adjusting to changing feedback and requirements throughout the project life cycle. In this article, we explore what agile…
What is
What a Small Business Letter of Credit Is & How It Works
A letter of credit is issued by a bank or other financial institution as a way to guarantee payment in the event the customer does not pay. This can be especially useful when conducting business internationally or when making large complex purchases where failure to receive payment could result in cash flow issues. Companies that…
What Is User Presence? A Guide for Small Businesses
User presence is a feature that shows the status of connected users and co-workers within a communications platform. This technology is a unified communications as a service (UCaaS) application that recognizes when a specific IP address, user profile, or device is active on a network. This feature allows users to change and display their status…
What Are Employee Wellness Programs? A Small Business Guide
Employee wellness programs are designed to support the overall health and welfare of employees within a company. They often include a variety of activities and resources aimed at promoting physical, mental, financial, social, and holistic wellness. From fitness challenges and nutrition counseling to stress management workshops and mental health support, employee wellness programs offer a…
What Is Accounting Software & Why Your Business Needs It
Accounting software is designed to automate, streamline, and manage various accounting and financial tasks within an organization. It comes in various forms, including cloud-based, desktop-based, and specialized solutions tailored to specific industries or business needs. It helps businesses efficiently keep track of financial transactions, manage accounts payable (A/P) and accounts receivable (A/R), generate financial reports,…
What Is an Omnichannel Contact Center? A Guide for Small Businesses
An omnichannel contact center provides a unified interface where businesses can manage customer communications across various channels. Supported channels include email, SMS, live chat, and social media, and essential call center features like advanced call routing and workforce management are also available. In this article, we explore what an omnichannel contact center is, its key…
What Is a Cost of Living Raise & How Does It Work
A cost of living raise, also referred to as a cost of living adjustment (COLA), is a wage increase intended to help employees cope with rising prices due to inflation. Unlike wage adjustments that are based on the employee’s work performance, employers look at market price indexes to determine the pay hike percentage. This is…
What an Operating Lease Is & How It Works
An operating lease is an agreement to utilize an asset without ownership rights. This agreement is similar to a rental agreement, in that the lessor allows the lessee to use the asset for a set period and under conditions permitted by the lessor. Assets commonly associated with an operating lease include equipment, automobiles, and real…