EMB is Your In-house Consulting Solution

Oct 20, 2015

In-house consulting and strategy groups are becoming a popular alternative to external consulting firms. Today, many large companies like Cisco, Siemens, Google, Disney, IBM, and Deutsche Bank, contain consulting groups to help solve operational problems. Major companies have discovered that internal consulting groups are more cost-effective, attract top talent, and have higher levels of confidentiality than external business consulting companies. The following are the top tips for companies that want to set up an In-house consulting firm.

Set Size and Objectives. Decide how big your In-house consulting firm will be. Your firm must be small enough to justify expenditures, but big enough to handle the workload. Also consulting managers must establish and maintain clear objectives to measure success.

Carefully Pick Projects. Extensively research, staff, and deliver projects with clear objectives, deliverables, and start and completion dates. Avoid requests to work on projects with no clear ending dates or fuzzy deliverables.

Fund From Within. Charge full costs to clients. Ensure that clients are willing and able to pay all the fees from their own budgets. Self-funding ensures that the group remains neutral to the parent company.

Pay for the Best. Invest in recruitment. Focus on professional development, offer opportunities for advancement, create clear paths for advancement, and have a fun team. The entire team should be involved in the recruitment process. Try to allocate 5-15% of the team’s time to running recruiting campaigns, and interviewing candidates. Offer competitive salaries or bonus benefits to attract top talent.

Exceed Client Expectations. It is not enough to win on price alone. You must consistently go beyond customer expectations. To do this consistently, management must foster a culture of excellence with clear values. Staff should challenge each other and hold one another accountable. This ensures that employees will give their best to every project even when management isn’t looking.

The business consulting industry is undergoing a transformation. Major and medium sized companies are starting to realize the cost savings and security that comes with In-house consulting groups. If you are a business consulting merchant interested in In-house consulting, you will need an experienced payment processor to handle client payments. EMB is the #1 business consulting payment processor online. Start your application today.

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Having a merchant account allows an account holder to take advantage of merchant cash advances. When a merchant is approved for an advance, the business agrees to receive a lump sum of cash in exchange for an agreed-upon percentage of future credit card sales.

Pricing varies depending the merchant’s industry, past credit card processing history, the type of business seeking the account, average ticket sales, and average transaction volumes.

Yes, EMB works with merchants who are building their credit, as well as those who have poor credit. EMB also approves merchants that have no credit card processing history and businesses that have lost their merchant accounts due to high chargebacks.

Several factors influence a merchant’s risk level. Though only one factor likely will not get a merchant classified as high risk, a combination of these may: business size, location, and industry, credit score, credit card processing history, a industry’s reputation for excessive chargebacks, a prior history of high chargeback ratios, and whether a merchant exclusively sells online.

Virtual terminals are stationed on a merchant’s website, making it easy for customers to make a payment or purchase online. Merchants or a payment processor can easily set up virtual terminals, so online businesses can accept credit and debit card and e-check transactions.

A merchant account is a business account with an acquiring bank. Without this business account, which actually works more like a line of credit, a merchant cannot accept and process credit and debit card transactions. Businesses need a merchant account to accept major credit cards via a static point-of-sale terminal, mobile card reader, or through a virtual payment gateway.

After filling out EMB’s simple online application and submitting any necessary, requested documents, many merchants get approved within 24 and 48 hours.

EMB specializes in working with high-risk merchants. EMB works with many merchants, including but not limited to businesses in these industries: gambling and gaming, adult entertainment, nutraceuticals, vaping and e-cigarettes, electronics, tech support, travel, high-end furniture, weight loss programs, calling cards, e-books and software, and telecommunications.

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