article thumbnail

Recurring Billing: Definition, How it Works, and Best Practices

Stax

Benefits of Recurring Billing for Merchants Recurring billing presents a strategic advantage for merchants, transforming how payments are managed and fostering stronger customer relationships. Personalization could be recommending relevant add-ons or sending customized communication based on their unique preferences and behaviors.

article thumbnail

Preparing for Third-Party Audits: Best Practices for Success

Scytale

A third-party audit is an assessment of a company’s internal controls, security practices, or compliance processes conducted by an independent auditing firm. The SOC 2 Bible Everything you need to know about compliance Download the Whitepaper Why Do Companies Need Third-Party Audits?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Ultimate Guide to Surcharges: What is a Surcharge and How Does It Work

Stax

Cost recovery, industry standards, regulatory compliance, and consumer sensitivity are key factors to consider when calculating surcharges. Companies, particularly those in the healthcare, transportation, and food industries, levy surcharges to meet these compliance standards. Regulatory Compliance. Minimum usage surcharge.

article thumbnail

Exploring the Key Sections of a SOC 2 Report (In Under 4 Minutes)

Scytale

We’ve done the latter quite extensively already, and we can tell you everything you need to know about SOC 2 compliance in two seconds flat. However, that’s the thing about compliance—there’s always another SOC 2 rabbit hole to explore. Let’s Recap the SOC 2 Framework What is SOC 2 Compliance ?

article thumbnail

Content Services Platforms: The Future-Ready Solution for Managing Content

How To Buy Saas

There must be more than a central repository to hold content (in some circumstances, even that presents a challenge). Compliance burden: Regulatory requirements complicate complex data management, with 67% citing high levels of regulation that hinder day-to-day operations. This inefficiency is costly for banks and insurance companies.

article thumbnail

Understanding Credit Card Processing Fees for Merchants: How Much Does Processing Credit Cards Cost?

Stax

Payment Gateway: A service provider that facilitates communication between the merchant’s POS system and the acquiring bank’s payment processing system. The steps to process a credit card transaction Step 1: Authorization Request The process initiates when a customer presents their credit card for payment.

article thumbnail

The Top 10 Important Finance Mistakes First Time Founders Make

SaaStr

I simply couldn’t get them to even remotely tie to his presentation deck. Removed from everyday business, she can only speak to the larger picture, which is important, but that’s often not enough with the fundamental processes of billings, collections, cash flow management, revenue reporting, corporate compliance and more.

Finance 323