Interactive voice response (IVR) is a voice-over-internet-protocol (VoIP) technology that helps callers access information or technical experts to resolve concerns. It’s best for businesses and contact centers that experience high call volumes and are looking to reduce wait time while improving quality service. In this article, we answer, “what is IVR?” and explore how it…
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What Is an Early Payment Discount? A Small Business Guide
An early payment discount―also called a prompt payment or cash discount―is a reduction in an invoice balance when it’s paid before the due date. It provides an incentive for customers to pay their bills before they’re due. When used strategically, early payment discounts can speed up the bookkeeping process, increase customer loyalty, and improve cash…
What Are Liabilities in Accounting? With Examples
In accounting, liabilities are debts your business owes to other people and businesses. Examples of liabilities include bank loans, IOUs, promissory notes, salaries of employees, and taxes. Liabilities are on the right side of the balance sheet, and these accounts have a normal credit balance. It means that crediting liability accounts increases their balances while…
Fulfillment Centers: An Ultimate Guide for Small Businesses
A fulfillment center is a third-party service provider that manages inventory, processes orders, and ships packages for other businesses. The term fulfillment refers to all supply chain functions related to receiving, processing, and delivering customer orders. For many ecommerce retailers, the strain of handling fulfillment operations in-house leaves them at a loss for crucial resources…
What Are Source Documents in Accounting?
In accounting, a “source document” refers to any document that substantiates and evidences a transaction. It’s important to retain and organize these documents to research problems or questions that arise concerning transactions. You also might need to provide these to the IRS if it audits you or questions anything related to your tax return. 1….
Dropshipping vs Order Fulfillment: Which Method Is Better?
In the world of ecommerce, dropshipping and order fulfillment companies are often debated or incorrectly referred to interchangeably—but their differences make a direct comparison tricky. While they both offer solutions for merchants seeking outsourced fulfillment services, they apply to entirely different business models: Dropshipping is when sellers partner with manufacturers and suppliers to accept orders…
What Is Call Filtering: A Small Business Guide
Filtering calls gives users control over who can reach your business. The technology enables users to accept, decline, route, and block specific numbers, preventing spam and forwarding calls based on preferences. This guide answers what is call filtering and what it means to filter calls to help you optimize its use to improve productivity, lower…
What Is an Auto-attendant Phone System? Our Small Business Guide
An auto-attendant is a popular voice-over-internet-protocol (VoIP) feature that transfers incoming callers to the right agent or department without needing a phone operator. This voice menu system allows companies to lessen wait times and manage large-scale call volumes. With its self-service functions, callers can get the help they need through touch-tone dialing, giving agents more…