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5 Ways Invoice Factoring Can Offer Quick Financial Solutions to Your Business

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StrategyDriven Managing Your Finances Article | 5 Ways Invoice Factoring Can Offer Quick Financial Solutions to Your BusinessSmall or established businesses need effective cash flow to run their operations. However, maintaining a proper cash flow can prove hectic with the market and economic changes. A business should seek alternative funding to keep its operations active and productive. Besides applying for a loan, businesses can utilize invoice factoring as an alternative financing option. Pointed below are the ways invoice factoring can offer quick financial solutions to your business.

Offers Financial Flexibility

It is prudent for your business to maintain flexibility in cash flow. Your business needs to fund its operations and sustain its workforce despite hard economic times. Invoice factoring financing becomes vital as it offers your business the flexibility it deserves. You can use the unpaid invoices to get the funds you need at any time. You, however, need to find and work with a reputable factoring company to enjoy the flexibility. Remember, invoice factoring makes cash available to your business and helps avoid financial struggles that might affect its operations in the end.

Helps You Save Time and Resources

Note that applying for a bank loan means waiting for days before getting approval. The approval chances are also minimal, and your business can get affected as you wait for the approval. Most banks and credit unions also dictate that you provide collateral to process the loan. This, in the end, can be inconvenient, especially to a struggling business. However, using your unpaid invoices to secure funds saves time and resources. You avoid worrying about collateral and wasting during the application process.

Easy Application Process With Higher Financial Approval

Financial history, credit score, and collateral determine your chances of getting a loan approved by the bank. You must meet the criteria and the requirements for your business to get the funds it needs. This is, however, different when you consider invoice factoring. You don’t need to worry about collateral or your financial history to get approval. You only need to show your financial history to the customers. The factoring company needs to be confident about the payment history before taking your unpaid invoices.

Credit Control

Collecting your payments and managing the credit can have different impacts on your business. You need to be effective with debt collection to keep your cash flow steady. It is, however, hard when you have to deal with sneaky customers. You get quick financial solutions by considering invoice factoring as you avoid the stress of dealing with your customers. Note that the factoring company you sell your invoices to handles the payment collection process and credit control. You get more time and space to manage your business.

You Use the Funds for Any Business Purpose

Unlike other forms of loans, invoice factoring provides you with the funds to use for any business needs. There are no restrictions or conditions on where and how to use the funds. You can improve your working capital, fund expansion, purchase new stock and equipment and add more staff with the funds you get through invoice factoring. You enjoy financial freedom by working with a reputable factoring company.

It is crucial for a business to maintain its cash flow for its operations. However, it can prove hectic when you lack a proper financing avenue. As much as applying for loans can prove beneficial, the process can be overwhelming. You need invoice factoring to get quick financial solutions and enjoy other benefits, as highlighted above.

10 Percent More Revenue with No Marketing Spend

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StrategyDriven Announcement | 10 Percent More Revenue with No Marketing SpendGrow your business without spending a single additional dollar on marketing or ads!

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It simply comes down to this. Anyone can say anything these days, and of course they do. Everyone will tell you they can help you build your business… or that they have the best products and services. We believe the proof lies in “RESULTS.” Isn’t that what you want for your business and your bottom line… RESULTS?

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Ways to Update Your Current B2B Website Design

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StrategyDriven Online Marketing and Website Development Article, Ways to Update Your Current B2B Website DesignMany marketers and business leaders believe a website is complete when it goes live. However, a B2B web design needs consistent monitoring and updating to ensure it is still working properly and you are focusing on the right business goals. To update your B2B website design, try these few things.

Do a Website Audit

This doesn’t need to be complicated but is an opportunity to make sure everything on your website is in proper working order. Go through each page and check for issues that need fixing, such as outdated or incorrect information, broken links, style and format issues, broken forms, and technical errors. Regularly doing website audits is one of the most important aspects of updating your website.

Check Your Website Analytics

If you can install tracking and analytics tools on your B2B website, such as Google Analytics, then you can monitor how your current website is performing. Website analytics provide data on things such as the most popular and least popular pages, pages with the highest time on page, pages with the highest bounce rates, which pages are converting visitors into leads, and more. You can see which pages are helping you generate clients and get insights into how to optimize the rest of the site based on this information. One best practice is to do A/B testing on your website. This involves creating different versions of an aspect on the website, such as the CTA, and testing them against each other to see which one performs better or drives more conversions.

Update Keywords

Keywords are an important part of your website and should be updated as your business evolves and changes. Even if you did SEO keyword research when you built your website, it’s likely these keywords will change based on your audience’s preferences and needs. It’s crucial you devote time to checking your keywords regularly. You can use tools to make this an easier process, such as Google Keyword Planner, Semrush, or Moz. You don’t always need to create new content for your keywords, in some cases, you can simply update your existing content to correlate with new keywords. This can be a simple and effective way to make sure that the website is up to date and still relevant without having to do a full website overhaul.

Regularly Publish Blogs

One way to keep your B2B website updated is by regularly writing and publishing blogs. How often you do this depends on your business and availability of copywriting resources. A small company may only be able to post a few times every month, whereas large businesses may have the bandwidth and resources to post every day. In addition to considering how often you publish, think about what you are hoping to accomplish with each blog post and who the target market is for each blog. Regularly posting blogs helps improve brand awareness and establishes your brand as a thought leader in the industry.

Refresh Your Existing Content

Google and search engines reward websites that publish fresh content regularly and adding new content is a quick way to update your B2B web design, especially with tools like Sharepoint Edits which make customization quick and simple. When you add new content, it can be a great way to improve your b2b web design. You don’t necessarily need to add new content to accomplish this. You can update or refresh older content that drives traffic to your website. By refreshing existing content, you are creating relevant and fresh content that may even double your traffic. For any business in an industry that is evolving, keeping your website updated and relevant is important. Not only is it important to Google, but it also helps with visitor engagement.

These tips should help to ensure your website is current and relevant. However, every few years it’s important to redesign a B2B website design and content to ensure it’s fresh, consistent with your brand, and reflects current trends in design.

How To Maximize Your Call Center Productivity – Call Center Incentive Program Ideas

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StrategyDriven Managing Your People Article | How To Maximize Your Call Center Productivity – Call Center Incentive Program IdeasIt is important to recognize that every job position and every employee needs a bit of a boost from time to time. This is why incentive programs are critical to driving performance. This is especially true in call centers, where a highly stressful working environment can make it difficult for the employees to remain in their position for a longer time.

Due to this, most of the large organizations have a formal reward and recognition program in place. Out of those organizations, more than 70% have different call center incentive programs, ranging from 3 to 6. They are based on different incentives and aimed at individual workers. Studies show that the companies with the call center incentive program in place have increased the performance of their workers by 27%.

In a stressful working environment, your employees might feel like their efforts were not appreciate. It is likely that individual employees would work harder if they were more appreciated. This is why it is a good idea to set up formal recognition programs for your employees. These programs make employees feel appreciated and encouraged to work harder.

A good call center incentive will lead to a boost in performance and overall improvement in your company culture.

Call Center Incentive Ideas

In every call center, employees have the opportunity to work with customers to create pleasant experiences. While the work can be complex, the effects of delivering an exceptional experience to customers are worth it. However, if your employees are unhappy, they are not likely to provide a pleasant experience to your customers.

Your employee mental health, and their feeling of appreciation, are closely connected with your customer experience. In order to improve the service and the customer experience, it is critical to provide incentives that will motivate your employees to do better. And the best way to keep your employees motivated is by providing incentives that will boost productivity and maintain morale.

Here are some ideas on building a successful call center incentive strategy.

1. Awarding the Employee of the Month

It has been proved that recognition is one of the most significant call center incentives. It’s essential to recognize people for a job well done regularly. A lot of companies have an employee of the month award to recognize the efforts of their employees. You can also split your call center into teams and set up a friendly competition.

When you break up your call center into more teams, you can have more awards given. These awards can be by votes and can encourage co-workers to be supportive of their peers. Most of the employees believe that rewarding employees who perform well is important. This emphasizes to your employees that you value their efforts and notice their hard work.

A side benefit is that when their manager appreciates them, it improves their relationships. Employees end up trusting their managers, and it leads to a more positive experience for everyone. It is an essential step to recognize your best employers in order to keep them motivated. Have a variety of ways to showcase your appreciation towards your workers.

2. Set Goals for Your Team

In order to know what habits to praise and which employees to award recognition to, it is important to have set goals as an individual. The first step to this would be finding out how you can help your employees reach their goals. You can locate the people that want to advance in your company and have a talk with them. Figure out what would work the best for them as individuals and for your company as a whole.

By helping your employees achieve these career goals, you can have them working for you more productively. Get your employees to clarify their goals; you can encourage them to pursue the next stage of their life.

This might be hard to do with remote teams. You would need to rely on video calls and online conferences to connect with your team. Try using HR videos to communicate ideas more creatively across the team.

It won’t always be the case that your employees want to remain working in a call center. Some employees will have goals to move to another position. Instead of having them disengage with the work, encourage them in the work they are doing, and help them get to the next stage of their career.

There is no better way to motivate your employees, but by helping your best employees have a fantastic future for themselves. Find your workers who have ambitions toward advancement and encourage them. Help them improve their position and be better workers. Consider how to get people to the next level and develop your employees in your company.

By helping your employees become better at their job and helping them prepare for future careers, you showcase a great culture and a team mindset. Having people collaborate fosters camaraderie. It brings people together. When combined with fun events and programs, it helps people stay motivated and think about being a part of a more excellent ideal.

Combine personal goals, a fun time, collaboration, and managers that care. It makes a powerful combination and encourages people to try more for their companies.

3. Reward the Employees Who Care

Your employees will feel more appreciated if they know that the rewards are personal. They don’t have to be expensive outings or trips. Even a personalized thank you note can make a huge difference to your employees.

Having a formal recognition plan can boost employee morale. Personalized rewards are even better.

To make a personalized reward means that you need to understand what interests your employees. For example, make sure you have asked beforehand what is essential for them. This can be done by conducting focus group interviews, or by online forms and surveys. After this, formulate a plan on considering how to reward them for their work beyond better pay.

Sometimes you should consider using incentives that aren’t cash payments. It can be travel or merchandise awards. Make something personal to your employees. It can be a dream vacation or a personalized cup with a picture of their family. There are a lot of these subtle touches that can impact your relationships with your employees and boost everyone’s morale. Whenever possible, consider how to personalize your rewards and recognitions.

A way to find out what your employees care about and what interests them is to survey your employees. Try forming a pre-formatted questionnaire about different prizes, a dream vacation, and career goals. When you set up a survey it should express that you want to help them achieve their goals and get things they want in life. Even if it doesn’t match your specific goals, encouraging them will lead to increased morale and trust in your company. Employees will work harder for you and it will ultimately lead to more productivity.

4. Shake up the Routine

Agent churn can be a big issue in call centers. This is mostly due to having little room for growth and nothing is done to relieve the monotonous nature of the job at regular intervals. Not to mention that the stress in call center calls is a real thing. Your employees are front line in dealing with your customers and the customers are not always pleasant.

Then it is no wonder that call center agents rank as one of the highest turnover jobs in the world, This turnover rate can get up to 45% in certain cases.

One way to reduce turnover and poor performance is to invest in gamification to motivate employees to engage and achieve. Try setting up a few games to be played in your call center in Fridays, to make the day-to-day slightly more interesting.

5. Allow Time-Off or Working From Home

Sometimes the best reward can be some time to yourself. If you would like to set up a wonderful call center incentive program, consider making impromptu time away from the office a spot prize optional for on-the-fly recognition. According to researches, instant recognition has been linked to increased productivity, greater employee satisfaction in the workplace, enhanced teamwork, and more.

Of course, this may require some work in the resource management, but when executed correctly, it can become a fantastic incentive to perform at optimal levels throughout the day.  Having a day off, or a chance to work a few days from the comfort of their home could be a great morale boost for your loyal employees.<

6. Let Your Employees Pick Their Shifts

Because many call centers operate 24/7, employees will always have a preference for certain work shifts. This may also differ from one person to the next. Some of your employees will prefer working the nights, while some better function in the early mornings.

This is why, if possible, you should have a talk with your employees and set up the shifts in your call center according to their preference. This won’t always be possible, however, with a bit of compromise it can be a great call center incentive.

5 Technical Considerations When Starting Your Business

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StrategyDriven Business Startup Article | Entrepreneurship | 5 Technical Considerations When Starting Your BusinessIf you’re starting your own business and you don’t know what technical aspects you need to consider then don’t worry, you have definitely come to the right place. There are so many different technical considerations you need to think about before starting your business, working out whether or not you need to hire help in advance. Whilst it may take a chunk out of your start-up budget, you can relax knowing you’re not going to run into any problems. With that in mind, here are 5 technical considerations to think about when starting your own business:

Do You Have A Website Up And Running?

One of the most important parts of owning a business is ensuring you have a website up and running. Although it doesn’t equal success for every business, most business owners have found that creating a website has increased their visibility ten-fold. Whilst you can set up a site on your own, often it’s better to hire both a designer and a developer who can help you put together the best possible solution. For tips and tricks when it comes to hiring a website team, you can visit this site here.

Do You Need To Consider Hosting And Servers?

Although this may sound a little too technical, you need to think about both hosting and servers, especially if you have a large business. If you have a business that has the scope to grow, you may want to consider hosting your site, your data and your systems on your own server. If that’s the case, you can visit Linux VPS for more details.

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Have You Thought About Email Addresses Across The Business?

If you’re going to be hiring a team of people when you start your business, everyone is going to need their own personal email address. Whilst this may seem unimportant to begin with, it’s important you have this set up from the start to avoid any breaches of data. Alternatively, if you want to have a variety of different inboxes depending on the enquiry, you will need to have separate email addresses for each inbox. For more information when it comes to setting up several email addresses at once, you can visit this site here.

Have You Considered Security And Protection?

When it comes to technology within your business it is important you’re doing everything you can to protect your data and your IT systems. Whether this means downloading antivirus and malware software or taking precautions when it comes to GDPR, you need to be sure your business is technologically safe.

Are You Going To Be Using Social Media?

Finally, are you going to be using social media within your business? Whilst this may not be considered a form of technology to some, using social media to grow your business requires a lot of knowledge when it comes to tech. Whether it’s setting up your accounts, building a following or using ads to reach new customers – you need to have a certain level of skill in order to use social media for business.

Are you starting a business soon? What technical considerations do you need to think about before you get started? Let me know in the comments section below.