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No matter what industry you’re working in, you don’t want to get on the IRS’ bad side. Whether it’s misclassifying an employee by mistake, or not keeping up-to-date records, there are lots of little ways you can make mistakes with payroll.

Not to mention, with inflation on the rise, over half of all Americans are living paycheck to paycheck. That means all it takes is one small error and you’d have (deservedly!) unhappy staff on your hands. Luckily, many common payroll errors are entirely preventable – especially if you implement strong payroll system management.

What is payroll system management?

Payroll system management encompasses the payroll process that ensures employees receive their salaries from their employers. It also involves ensuring that both the business and the employees meet any required fiscal responsibilities to state or federal authorities. These can range from Social Security and Medicare taxes to FUTA (Federal Unemployment Tax Act) payments. 

There are a number of reasons why efficient payroll management is important. Not only does it keep the organization’s financial records up to date, but it also ensures that a business is complying with relevant regulations. It helps a business pay their employees on time and with the right amount, as well as covering the various tax requirements and maintaining their records. Without that efficiency, organizations can face salary claims and government penalties. 

Managing these payroll challenges is essential to ensure smooth operations and compliance.

Common payroll mistakes to avoid 

Mistakes happen, but payroll-related mistakes can be costly to both the business and the employee. Here are some of the most common errors – and how to avoid them.

1. Employee classification

One easy-to-make mistake is misclassifying the employees you have. It’s important to understand the difference between an employee and an independent contractor as the tax requirements differ between them. Generally speaking, an independent contractor would submit their own invoices, pay their own tax, and aren’t under anyone’s immediate management. However, the definition can vary from state to state.

 If your payroll department is unsure how to classify a worker, they can ask the IRS to help determine status (form SS-8). Alternatively, if you have already made errors in this area, you can seek help, again from the IRS, through their Voluntary Classification Settlement Program.

2. Wrong data

Data and information mistakes are the most common type of payroll errors. One thing to note is that there are certain employee documents you are required by law to keep for four years or more:

• Tax forms
• Timesheets
• Proof of payments
• Any canceled checks

To ensure efficient payroll system management, you need the correct information. Your initial data collection happens when an employee fills out a W-2. You need to be sure the following information is accurate: 

• Full name. Check spelling and include any middle names. Also, update this if there is any change of name.
• Social security number. Every American has a unique social security number which helps identify them. 
• Address. This needs to be their current home address and should be updated in your records if they move. 
• Date of birth. 
• Employment dates. Your records should show when the person started working for you and, if applicable, the date on which employment ended. 
• Employment details. This section should cover factors such as hourly rates, overtime rates, and any bonus details.

Additionally, make sure you have up-to-date bank details and payment methods, as missing this information can delay payments to your employees.

3. Missed deadlines

It’s crucial that your business complies with any set deadlines. There are two deadlines you need to consider. The first is the monthly (or biweekly) deadline set for you to deposit your share of taxes and any withholding taxes. You may face penalties of up to 15% if you miss these deadlines. There are also quarterly and annual returns that your business should file with your W-2s. 

4. Withholding issues

Taxes can be complicated, there’s no denying that. With so many different rules and regulations to consider, it’s no surprise that there are regular issues with the withholding process. Some of the common mistakes you should be aware of include:

• Erroneous calculations of deductions (both pre and post-tax). 
• Missing out taxable benefits such as bonuses or gift cards.
• Failing to withhold taxes at the state or federal level. 
• Taking the wrong deductions from exempt employees. 
• Issuing the wrong W-2 forms. 

5. Exempt vs. non-exempt

This can be an area that causes real confusion. Your non-exempt employees, who are usually hourly ones, are entitled to overtime payments while your non-exempt ones are not. If a non-exempt employee works more than 40 hours in any given week, then you need to pay them time and a half. Trying to avoid any related obligations violates the FLSA (Fair Labor Standards Act) and you could face a lawsuit. 

There are three main conditions to meet to be classified as exempt: 

• Have earnings that equal or exceed $684 per week or $35,568 annually (as of August 2023).
• Be in a managerial or administrative role or have a professional degree (for example, an engineer).
• Be receiving a salary (or a consistent hourly schedule) where their final salary is relatively unchanged). 

How your payroll management system should work

It is likely that every process within your organization has guidelines in place, and payroll management should be no different. By following these guidelines, you reduce the risk of errors and regulatory non-compliance. 

1. Collect relevant data 

Gone are the days of payroll being a purely manual process. There are now even systems that can help employers manage the payroll process for one employee! So, whatever system or software you are using, the first step is to collect and enter all the data you need to both pay any taxes and provide accurate paychecks.

Your system should be able to calculate and pay all taxes due before it processes payroll for a particular time period. The data you enter into your system should include employee grades, state and federal deductions, any applicable allowances, and details of any loans or advances made. 

Additionally, consider leveraging modern technology to enhance your payroll management. Incorporating AI for accounting can streamline data entry, reduce errors, and improve overall efficiency in managing your financial and payroll records.

2. Compile all necessary documents

Documenting each employee should start during the onboarding process – using an online form builder that links to your payment management system can ensure your payroll department has all the necessary information. This can include:

• A list of Federal withholdings that apply to your employees. 
• Eligibility forms that contain all the professional and personal information about each employee. 
• Forms for state income tax and any other relevant withholding details. 

3. Ensure you have all the required company information

You need to make sure that all the details of your company are contained in the system. If you operate in more than one state, you also need to include every state tax ID number that applies to the locations you operate in. You also need to set the frequency of when salaries are paid, and by which method (cheque, direct deposit, etc). 

4. Integrated time tracking 

To pay the correct salaries, you need to know the hours worked by employees. Investing in time-tracking software that can be integrated can make this much easier. While it can be tempting to stick with manual time tracking, especially if you’re running payroll for small business, it can be very prone to human error.

5. Set up compliance norms 

You may operate separate company and payroll bank accounts. By linking these, and setting up compliance norms, your payroll system can reconcile all of your payroll details and can help ensure that salary payments are free of errors. It can also help you avoid potential penalties that would be applied if you failed to meet certain regulatory requirements. 

6. Gross salary

With accurate data and a properly set up payroll management system, the first thing it will normally calculate is gross pay. It should take note of total hours worked including overtime, as well as any bonuses that may be due for that time period. This should mean that you now have a gross figure for each employee and your system can move to the next step. 

7. Net salary

Once you have a gross figure, you can apply any deductions such as pre-tax and tax withholdings. Efficient payment system management means that these figures are deducted from the employee’s gross salary and will provide a net figure which is what employees receive. 

8. Employer responsibilities

Your system should recognize the various employer responsibilities such as paying withheld tax, as well as employer contributions for things like Medicare and Social Security. 

9. Reconcile and verify

Regularly check that your payroll software is working properly and that any updates have been installed. Reconcile all your figures and verify their accuracy. It can be helpful if your payroll system is integrated with any accounting software you use. 

10. Generate reports and documents

The penultimate stage in the process is to generate reports and documents and send them to any relevant departments and managers such as your finance department. If you feel overburdened by documentation, you can utilize a document-understanding solution. You should also let employees know any necessary details and if there are any expected delays. 

11. Paycheck details

Depending on the state you operate in, you should be issuing a statement to employees when they receive their salary. These statements should show all pertinent details such as hours worked, gross and net figures, and all deductions made. 

The Takeaway

It’s important to remember that efficient payroll system management is not just about complying with the various tax laws, it’s also about ensuring your employees are not inconvenienced. 

With so many software solutions available, the likelihood of human error is vastly reduced. However, the employer still has a responsibility to ensure that tax deadlines are met and that accurate data is put into the system they use so that salaries are paid on time and that the figures are correct.

Featured image by Money Knack, www.moneyknack.com on Unsplash

The post A Simple Guide to Efficient Payroll System Management appeared first on noupe.

In today’s fast-paced digital world, TikTok has emerged as a powerhouse in the realm of social media marketing. With its rapidly growing user base and engaging content, TikTok offers a unique opportunity for businesses to showcase their products and services through TikTok ads. In this comprehensive guide, we will walk you through everything you need to know to create outstanding TikTok ads that captivate your audience and boost your brand’s visibility.

What are TikTok Ads?

TikTok ads are a form of paid advertising on the TikTok platform. They allow businesses and brands to promote their products, services, or campaigns to a vast and diverse audience of users. TikTok offers several ad formats that cater to different marketing goals, ensuring that there’s an option for every business. These ads appear seamlessly in users’ feeds, making them an integral part of the TikTok experience.

Types of TikTok Ads

To create a successful TikTok marketing strategy, it’s essential to understand the various ad formats available. Here are the primary types of TikTok ads:

1. In-Feed Ads

In-feed ads are short video ads that appear in users’ feeds as they scroll through the app. These ads are skippable and can be up to 60 seconds long. They are a fantastic option for increasing brand awareness and engagement.

2. Branded Hashtag Challenges

Branded hashtag challenges encourage users to create content related to your brand or campaign. These challenges often go viral, amplifying your reach. They can include a banner on the Discover page to drive participation.

3. Branded Effects

Branded effects involve creating custom filters and effects that users can use in their videos. This interactive approach increases user engagement with your brand.

4. TopView Ads

TopView ads are the first thing users see when they open the TikTok app. These are 60-second videos that grab the user’s attention and can lead to higher click-through rates.

5. Branded AR Content

Augmented reality (AR) ads allow users to interact with your product in a virtual environment. These ads can be highly immersive and drive user engagement.

How Much Do TikTok Ads Cost?

TikTok ads’ cost can vary widely based on factors like your target audience, ad format, and campaign objectives. On average, businesses can expect to pay between $10 and $300 per 1000 views (CPM) for in-feed ads. Branded hashtag challenges may cost anywhere from $50,000 to $150,000, depending on the level of promotion you require. Remember that TikTok allows you to set a daily or lifetime budget to control your spending.

TikTok Ad Specs

Each type of TikTok ad has specific requirements to ensure your content displays correctly and effectively. Here are the general ad specifications you need to keep in mind:

• Aspect Ratio: 9:16 is the recommended aspect ratio for TikTok ads.
• Video Length: Most TikTok ads should be between 15 to 60 seconds in length.
• File Format: Use MP4 or MOV video file formats.
• Resolution: A minimum resolution of 720p is recommended for high-quality visuals.
• File Size: Keep your video file size below 500MB.
• Sound: Ensure your ad works both with and without sound, as many users watch videos on mute.
• Captions: Include clear and concise captions for accessibility.

How to Set Up a TikTok Ad Campaign

Creating a TikTok ad campaign involves several steps:

1. Create a TikTok Ads Account

• Go to TikTok Ads Manager and sign up for an account.
• Verify your email address and complete your profile.

2. Select Your Campaign Objective

• Choose the primary goal of your campaign, such as website clicks, app installations, or video views.

3. Define Your Target Audience

• Specify the demographics, interests, and behaviors of your target audience to reach the right users.

4. Set Your Budget and Schedule

• Determine your daily or lifetime budget and choose your campaign start and end dates.

5. Choose Ad Format

• Select the most suitable ad format for your campaign goals.

6. Plan Your Ad Ahead

• Use a task tracker to organize and schedule your ad creation process efficiently.

7. Create Ad Creative

• Develop compelling video content that aligns with your chosen ad format and campaign objectives.

8. Launch Your Campaign

• Review your campaign settings and creative, then launch your TikTok ad campaign.

9. Monitor and Optimize

• Continuously monitor your campaign’s performance and make adjustments to improve results.

5 TikTok Ads Examples

To inspire your TikTok ad creation, let’s take a look at five standout TikTok ad examples:

1. Fenty Beauty’s In-Feed Ad

• Fenty Beauty’s in-feed ad showcased their makeup products with a catchy soundtrack, capturing the essence of their brand.

2. Guess’s Branded Hashtag Challenge

• Guess encouraged users to participate in a branded challenge, driving user-generated content and engagement.

3. NBA’s Branded AR Content

• The NBA used augmented reality to let users virtually dunk a basketball, creating an immersive ad experience.

4. GrubHub’s TopView Ad

• GrubHub’s TopView ad presented mouth-watering food visuals to promote their food delivery service.

5. Pepsi’s Branded Effects

• Pepsi created custom filters that turned users into dancing emojis, adding a fun and interactive element to their ad campaign.

TikTok Advertising Best Practices

To make your TikTok ads truly great, follow these best practices:

• Keep it Short and Sweet: TikTok users have short attention spans, so make your content engaging from the start.
• Use Popular Music: Incorporate trending songs to increase the chances of your ad going viral.
• User-Generated Content: Encourage user-generated content through challenges and contests.
• Tell a Story: Craft a compelling narrative or showcase a unique aspect of your product.
• Optimize for Mobile: Ensure your ad looks and works well on mobile devices.
• A/B Testing: Experiment with different ad creatives to discover what resonates best with your audience.
• Engage with Comments: Respond to user comments to foster a sense of community and trust.

Conclusion

TikTok ads are a dynamic and effective way to promote your brand to a vast and engaged audience. By understanding the various ad formats, following best practices, and continuously optimizing your campaigns, you can create great TikTok ads that resonate with users and drive business growth in 2023 and beyond. So, seize the opportunity and let your creativity shine on TikTok!

Featured image by Alexander Shatov on Unsplash

The post How to Make TikTok Ads appeared first on noupe.

Imagine you’ve just launched a fantastic new app and then boom! Overnight, it’s a hit. Thousands, maybe even millions, flock to download it. You’re thrilled, but then reality sets in. Your servers start groaning under the pressure and the dreaded “Server Unavailable” messages start popping up. 

In the online world, patience is rare, and users will switch to a competitor at the slightest inconvenience.

The key to avoiding such pitfalls lies in one crucial concept – scalability. But scalability isn’t just about bracing for an avalanche of users. It’s about ensuring your application boasts quick page loads, zero downtime, and flawless user experience, no matter the number of users.

So, if you’re ready to elevate your app game, keep reading as we deep-dive into eight techniques so your application thrives as it grows. Let’s get started!

What is application scaling?

Think of scalability like a high-speed elevator in a skyscraper. It’s all about getting you from the ground floor (your app’s launch) to the penthouse suite (massive user growth) smoothly and efficiently. 

This scalability is one reason why many businesses are migrating to web applications. In tech jargon, scalability is your system’s capacity to handle and expand in a way that accommodates growth.

If you’re wondering why scaling matters, it ensures that your application can seamlessly adapt to changing circumstances, such as increased demand, improved performance, cost-effectiveness, resilience, and future-proofing your business.

When it comes to constructing this high-speed elevator for your application, you generally have two paths:

1. Vertical scaling: Akin to swapping out your current elevator with a more powerful one. You’re essentially enhancing the capabilities of your existing server, adding more speed, power, and capacity to the system you already have. It’s a quick fix but has limits – there’s only so much you can upgrade a single machine.
2. Horizontal scaling: Imagine if, instead of upgrading your existing elevator, you decide to install multiple new ones. You’re essentially adding more servers to distribute the work. This approach is more flexible but requires strategic architecture to manage the increased complexity.

Remember, don’t start thinking about scalability when your elevator is already jam-packed. Plan for it right from the design phase. Ignoring scalability during these stages is like building a skyscraper on a shaky foundation. Sooner or later, it’ll crumble under the weight of its own success.

Finding slow points in your applications

Before you start tinkering with your application’s scalability, you should identify the bottlenecks slowing you down. Imagine your high-speed elevator is now experiencing delays – you wouldn’t just start replacing cables or motors without knowing what’s causing the slowdown, right?

Identifying bottlenecks is the diagnostic phase where you pinpoint the weaknesses that could hamper performance when you scale. Thankfully, various tools and methods can help:

• Performance monitoring tools: Software like New Relic or Grafana provides real-time insights into your application’s performance, helping you identify slow database queries, memory leaks, or CPU limitations.
• Message queuing: For applications that deal with real-time data processing, using a message broker like RabbitMQ helps isolate bottlenecks related to message handling.
• Load testing: Use tools like Apache JMeter or LoadRunner to simulate high traffic and monitor how your application responds. This can expose weak points that may not be visible under normal conditions.
• Code profiling: Tools like VisualVM for Java or Py-Spy for Python allow you to analyze the code execution, helping you find broken algorithms that could slow you down.

Understanding where the bottlenecks are is the first step toward effective scaling. Once you know what you’re up against, tailoring your scaling strategy to combat these issues is easy.

8 Must-know techniques to scale your web applications

In web development – ensuring applications adapt to user demand is as crucial as a morning cup of coffee. To help lift your web app’s performance, here are eight techniques for you to consider:

1. Load balancing

Load balancing orchestrates the distribution of incoming network or application traffic across multiple servers, ensuring no single server gets overwhelmed. This is important for complex e-commerce platforms like Magento enterprise hosting, where high traffic volumes are the norm.

Load balancing allows for better resource utilization, maximizes throughput, and minimizes response time. Popular strategies include:

• Round robin: Distributes requests sequentially to each server in the list.
• Least connections: Routes new requests to the server with the fewest current connections.
• IP Hash: Directs requests from the same IP address to the same server, ensuring session persistence.

By effectively distributing the traffic, load balancing enhances performance and makes your application more resilient.

2. Database sharding

Sharding your database is another effective technique for making your application scalable. In this approach, you distribute a single dataset across multiple databases. This means handling all read requests is divided among several databases called “shards” rather than overloading a single one.

Both horizontal and vertical scaling play a role. With horizontal scaling, you introduce new nodes to help distribute read operations. In contrast, vertical scaling involves beefing up a single database server by adding more CPUs or increasing the RAM and storage capacity.

3. Caching

Caching is like keeping a notepad of your most frequently used calculations. Instead of re-doing the math every time, you can refer to your notepad for quick answers. In applications, caching stores copies of frequently accessed data in “high-speed” storage, allowing rapid data retrieval.

Types of caching include:

• Data caching: Stores pieces of data to reduce redundant data operations.
• Full-page caching: Stores the entire HTML of a page to avoid repetitive rendering.

Caching improves application performance by reducing the need to fetch data from the source repeatedly, thereby saving time and resources.

4. Microservice architecture

In a microservices architecture, each component focuses on a specific function and operates independently. This architectural approach boasts several benefits, such as easier debugging processes, the flexibility to use different technologies for different services, and increased resilience for your overall system.

5. Asynchronous processing

Asynchronous processing allows for the distribution of tasks to be handled independently of the main application thread. This means heavier tasks can be processed in the background, freeing up the application to handle other tasks in real-time.

For example, tasks like image uploads can consume vast resources and time if processed sequentially. By using asynchronous processes, tasks can be offloaded to background processes. Thereby improving the overall performance and efficiency of your application.

6. Autoscaling

Autoscaling is a technique that dynamically allocates resources according to the real-time needs of an application. This involves adjusting resources like CPU and RAM on the fly to meet demand.

Cloud platforms such as AWS Auto Scaling or Google Cloud’s Compute Engine offer easy-to-implement autoscaling solutions. These platforms allow you to set predefined policies to automatically scale resources up or down, ensuring your application performs optimally.

For more information, take a look at this article “What is Autoscaling: Why Do You Need It?” 

Source

7. Content Delivery Network (CDN)

A Content Delivery Network, or CDN, is a network of servers that communicate to deliver internet content more quickly. These servers store copies of your application’s resources and are located near end-users. This minimizes the distance the data travels – improving access times.

The use of a CDN is crucial for scalability. It shortens the load on your primary server by distributing traffic across multiple locations. Users experience quicker load times and reduced latency, which enhances their overall experience.

By effectively managing sudden traffic surges, a CDN ensures that your web application remains robust and scalable.

8. Optimize code and queries

Optimizing your application’s code and database queries is crucial for optimal performance. As your application scales, inefficient code can quickly become a significant bottleneck. This leads to slow load times and poor user experience.

Various tools assist in identifying these inefficiencies. Query analyzers help locate slow database queries, while code profiling tools identify which parts of the code are resource-intensive.

Best practices for optimization include database indexes and caching frequently-used queries. These measures enhance your application’s performance and allow for more efficient use of server resources. In the long run, this makes your application far more scalable.

The benefits of application scalability

• Improved performance: Handles increased traffic without slowing down, enhancing user experience. Faster load times significantly improve customer satisfaction and overall engagement.
• Cost-effectiveness: Optimized server usage reduces operational costs as you only pay for the resources used. This leads to better financial efficiency, freeing up your budget for other business needs.
• Resilience and high availability: Distributed resources across multiple servers improve system reliability and minimize downtime – ensuring your application remains accessible during peak usage or server failures.
• Easier management and updates: Scalable architecture allows for easy deployment of updates and new features with minimal disruption. This flexibility simplifies ongoing maintenance and enhances the agility of your development team.
• Future-proofing: A scalable system can grow and adapt, making it easier to meet evolving needs and market changes, thereby protecting your investment.

Your scaling journey begins here

So, let’s bring it back to that elevator, shall we? Just like a top-notch elevator must adapt to varying levels of demand, so must your scaling strategies. Remember, scaling isn’t a one-time event but rather a continuous journey. 

As your user base expands and technology evolves, your scaling strategies should adapt to meet new challenges. By staying committed to ongoing iteration and optimization, you’re ensuring that your application remains speedy, resilient, and cost-effective.

Featured image by Ilya Pavlov on Unsplash

The post Useful Techniques for Scaling Applications appeared first on noupe.

Fraud causes commercial misery for countless businesses. But, as large businesses tend to have more resources to withstand it, small businesses are especially vulnerable. 

This is because the attention of small, and particularly less established, businesses is often consumed with just staying solvent rather than focused on threats. 

But, the good news is that there are steps you can take, yes, even as a small business owner with scarce time and money. Read on to find out how you can deploy fraud risk management without having to spend a fortune.

What is fraud risk management?

Well, this bit’s fairly straightforward. Effective fraud risk management is the practice of:

• Identifying the likely fraud threats that might come your way.

• Deploying the means to prevent, confront, and defeat these threats.

That’s it. So, nothing to worry about.

OK, it’s a little more complicated than that, but we’ve broken everything down into the following easy-to-adopt techniques.

9 techniques to safeguard small businesses

There are numerous techniques you can use to effect fraud risk management, but we’ve narrowed them down to the following nine. Others may suit your specific industry, but this will give you a solid place to start from.

Identifying vulnerabilities

Fraud risk management is a kind of risk assessment. And it’s in the identification of threats that risk assessments begin. Here we’ll go through some of the ways that your business can be vulnerable to the threats posed by cybercriminals, scams, and fraud. 

Employees

An area thought to be one of the biggest data security risks in most organizations is the staff themselves. In fact, employees are responsible for almost a fifth of all data breaches. 

Why is this? It’s not that your employees are trying to bring your business down. It’s that your employees are human, and one of the specialties of the human race is to make mistakes and forget things.

So, we’re looking here at an inability to use passwords responsibly or spot a scam. It can also be about not being able to keep certain aspects of the company as confidential as they need to be. It’s this kind of indiscretion that can form a very usable fraud attack vector.

Fourth parties

It’s not only your own direct employees you have to consider. It’s also other companies that you have dealings with. If an external body handles your accounts or data, then you’ll be placing your confidential financial details in their hands. 

If your data is handled by external parties, double-check their data security policies and make sure that they don’t allow your data to be handled by any other organizations. 

Modern equipment and practices

Threats are always looking for ways to circumvent controls. So, you need to make sure that you’re using the latest gear and techniques to overcome fraud danger. Consider doing a risk assessment of all the solutions you currently use. 

For example, check that you’re using the most up-to-date small business accounting software that is compliant with recent data regulations such as GDPR or the latest cybercrime laws, depending on where you’re based. You should also make sure that your staff is trained on how to handle sensitive data as well as how to spot and deal with any potential data breaches. 

Implementing internal controls & fraud prevention

Fraud risk management is all about tackling fraud before it happens. You want to have a watertight framework that simply doesn’t let fraud in. To do this, you need to set about instituting internal controls across the board. There has to be comprehensiveness and consistency.

As soon as you’ve identified a specific threat, think about what you can do to counter it. That way, you can hope to make that threat disappear before it manifests itself.

So, for instance, take employees who, for whatever reason, don’t update their passwords as often as they should. To tackle this issue, make sure that everybody updates their access credentials every month (and double it up with multi-factor authentication). Then, apply this from the moment an employee starts with you, and you’ll soon tie off that fraud threat route.

Employee training and awareness programs

You can’t be everywhere at all times. Your employees are your eyes and ears when you’re busy elsewhere. This means that they need to be alert to the dangers of fraud wherever they might appear.

To do this effectively, you should train them in what to look out for. Whether it’s unusual customer activity or a suspicious email link, your employees should be aware of the various dangers and how to avoid them. 

And here’s the important bit—have regular training updates to reinforce the message. Update with any recent developments. In time, your corporate culture can grow around effective fraud risk management processes.

It might be worth investing in a dark web scan service. This can trawl where you don’t want to be going to see if your business has cropped up there as a potential fraud target.

Regular monitoring and detection systems

Security trends may come and go, but vigilance never goes out of fashion. Check your finances frequently. Frauds that go undetected tend to repeat and can be ongoing for years, causing tremendous financial damage to a small business.

If you can spot an anomaly early, you’re in a better position to counter it. Similar to employee training, you want to have as many systems in place that regularly check for anomalies. 

You should already be using spyware and other malware detection software to make sure your site remains secure. But, you should also consider looking into more industry-specific tools that can perform things such as device fingerprinting, customer authentication, and AI-based pattern detection. 

Creating protocols for incident response and reporting

Two elements are important here: speed and confidentiality.

If an employee suspects fraud, they need to be able to follow the prescribed action path with minimal delay. This means that there has to be a prescribed action path in the first place and that everybody has to know about it. To whom do they report suspected fraud? What happens if that route’s blocked for some reason?

If a customer is suspected of fraudulent activity, there has to be a process whereby the whistle is blown while not exposing the customer’s details any more than necessary. After all, we’re innocent until proven guilty. 

Also, there should be an anonymous reporting system in place. This cuts the risk of the whistleblower suffering consequential ill-treatment.

Vendor and supplier evaluation

This comes back to the fourth-party vulnerability we mentioned earlier. It’s vital that every partner organization you deal with has the same fraud risk management processes as you do. They will have access to some of your company’s confidential details, so be mindful of this.

Use companies that have reputable profiles and good reviews. Have regular meetings so that everybody is clear on what standards you expect.

Strengthening data security and access

Remember when we talked about obsolete equipment and techniques? It’s crucial that you re-visit your fraud risk management strategies on a frequent basis to see that what worked once is still working well. Just like anything else, security measures grow old and ineffective over time, so you need to be in there and replace them before they do.

Look at introducing new practices that seem to deliver a good security result, such as using digital signatures or multiple-factor authentication (MFA). 

Working with law enforcement and authorities

Transparency is what’s required as far as law enforcement is concerned. Everyday confidentiality demands opacity, yes. But you have to turn that on its head so that those with a legitimate interest can access all areas of your business.

You also need to remain aware of any developments in the statutory framework related to security. In this way, you can protect your business and your customers from the latest fraudulent practices.

Continuous assessment and improvements

The best systems today are rarely the best systems tomorrow. Improvements are always possible. Fraudsters continuously improve their game, so you need to improve your fraud risk management on an ongoing basis.

Keep up-to-date with the latest fraud trends and legislation, as this will make it easier to check whether your current fraud prevention processes are still robust. You should also make sure your fraud detection software is up to date and covering your needs. A good fraud detection system should be able to automatically detect new vulnerabilities and alert you to them.

On top of this, risk management also relies on good organization. Use project management and ERP software to keep track of the processes you have in place, remind you when a review is due, and store resources, such as training documents and information. 

But, bear in mind, as a fourth-party software, you should also check the project management or  ERP security features don’t leave your details vulnerable. For example, you want to make sure that it has features such as automatic lockout after periods of inactivity and that it adheres to global security compliance programs, such as ISO27001 and SOC2.

Finally, although internal audits are valuable, you may, from time to time, benefit from an external party doing an assessment of your fraud risk assessment. They may spot things that elude you or that you tend to de-emphasize for whatever reason.

Effective fraud risk management

It’s important that you don’t waste time in implementing a robust fraud risk management framework. And as in a lot of crucial business practices, it’s equally important that you get everybody’s buy-in. Otherwise, it can feel like shouting in the wilderness.

The internal controls of your fraud risk management program will only be as effective as your staff enables them to be. So you have to make sure everybody understands how important all this is to the business. This is how you reduce the risk of fraud to as close to zero as possible, or at least to an acceptable level.

The best fraud risk management can all but seal off your business from the worst that fraudsters can throw at it.

Featured image by Artem Podrez on Pexels

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In today’s developing world of technology, our furry companions aren’t forgotten. The advent of smart dog houses has revolutionized the way we care for our companions. These new kinds of houses and technologies offer comfort and security for our beloved pets. In this article, we’ll be exploring the world of smart dog houses and their features, highlighting popular firms, apps, and technologies, and offering some practical advice for pet owners. 

What is a Smart Dog House?

Smart dog houses, also known as automated or connected dog houses, are designed to provide an enhanced living environment for your pets. These innovative abodes are equipped with various sensors, devices, and features that cater to your dog’s needs as well as offer pet owners a new level of control. By tracking their pet’s health or safety, pet owners can also provide some information from the data they collected. Pet owners can create pet care apps to help them collect and manage pet information.

Features That Make Them Smart

• Climate Control: One of the primary features of smart dog houses is their ability to regulate temperature. Integrated heating and cooling systems ensure that your dog is comfortable year-round. This is especially beneficial in extreme weather conditions.

• Remote Monitoring: Many smart dog houses come with cameras that allow you to keep an eye on your pet while you’re far away. You can check in on them through a mobile app, ensuring their safety and well-being.

• Feeding Systems: Automated feeding systems dispense food at scheduled times, even when you’re not at home. This ensures that your pet is well-fed and helps with portion control.

• Air Quality Control: Some smart dog houses have air purification systems to maintain clean and healthy air quality. This can be vital for dogs with allergies or some health issues.

• Security Features: Smart dog houses often include security features like locking mechanisms and alarms to keep your pet safe from potential intruders or dangers.

• Lighting: Integrated lighting systems provide visibility at night and create a comforting ambiance for your pet.

• Noise Control: These houses may come with noise-reduction features to help keep your dog calm in noisy environments if your dog is easily disturbed by sounds. 

Popular Smart Dog House Firms, Apps, and Technologies

PetSafe Smart Dog House: PetSafe offers a range of smart dog houses with features such as self-warming floors, app-controlled feeding, and automatic door locking. Also, PetSafe has various containment systems to keep your pet in the garden safely. 

PetParker: A Vancouver-based company, PetParker offers smart stations for dogs to provide more flexibility for pet owners. By cooperating with businesses and governments, PetParker smart dog stations allow pet owners to transform their customers’ experience. 

Furbo Dog Camera: While not a dog house itself, the Furbo Dog Camera is a popular device that allows you to monitor your pet and dispense treats remotely. It’s a great addition to any smart dog house because it offers 360-degree zero-blind spot vision. You can even notify your dog of emergencies at home with the Furbo Dog Camera.

SureFlap Microchip Pet Door: This smart pet door technology allows your dog to enter and exit the house while keeping unwanted animals out. It’s compatible with microchips and RFID collar tags. It could be a great addition to your existing dog house to make it smart or more useful. 

Petnet SmartFeeder: The Petnet SmartFeeder is a popular app-controlled feeding system that ensures your pet is fed the right portions on time. It also provides nutritional recommendations. SmartFeeder’s app connects your phone with the device and then allows you to control your pet’s eating routine. 

How to Buy a Dog House?

Smart dog houses can be purchased from various sources, including online markets such as Amazon and Walmart. Amazon offers a wide range of options from various sellers, allowing you to compare prices and features easily. Walmart provides the convenience of both online and in-store shopping in the United States, with the option to physically examine products before buying. When purchasing a smart dog house, consider factors like size, features, and your budget. Also, you can read product reviews and check for warranties to ensure a satisfying purchase that meets your dog’s needs.

Advice for Smart Dog House Owners

1. Training: While smart dog houses offer convenience, it’s essential to train your dog in order to use them effectively. Gradually introduce your pet to the new features and devices.

2. Maintenance: Regularly clean and maintain the smart dog house, especially the air filters, to ensure your pet’s health and comfort.

3. Security: Ensure the security features of the dog house are functioning correctly, and keep your app’s login credentials secure to prevent unauthorized access.

4. Adjust Settings: Use the mobile app to adjust settings like temperature, feeding schedules and lighting based on your pet’s needs.

5. Regular Check-Ins: Even with remote monitoring, make an effort to physically spend time with your pet. No technology can replace the bond you share.

Conclusion

Smart dog houses represent a significant step forward in pet care and ownership. They offer a range of features designed to increase your dog’s quality of life and provide peace of mind for pet owners. With the right training and maintenance, these innovative homes can truly be a haven for your companions. As technology continues to advance, we can only imagine what exciting developments await our beloved pets in the future.

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