SMB owners often ask, “How can I encourage employees to join our retirement plan?” Motivating your team to save secures their financial future while ensuring high earners avoid penalties caused by low contributions from others. Adopting proven strategies increases participation.…
Third-party billing refers to a financial arrangement where a company or organization (the third party) handles invoicing and payment processes on behalf of another entity, such as a business or healthcare provider. How does third-party billing work? Third-party billing operates…
When establishing business credibility, a PAYDEX® score is one of the most critical metrics to monitor. This score, issued by Dun & Bradstreet, provides a clear snapshot of how reliably a company meets its financial obligations. As a trust signal…
What Is a Wire Transfer A wire transfer is a method of sending money electronically between banks or financial institutions. This process allows individuals or businesses to transfer funds securely and quickly, often domestically or internationally. The sender initiates the…
What Is Opportunity Cost? Opportunity cost for a small business refers to the potential benefits or profits lost when resources—such as time, money, or labor—are allocated to one choice over another. It represents the cost of the next best alternative…