Your Virtual Credit Manager

FEBRUARY 28, 2023

Your Virtual Credit Manager (YVCM) previously published an article discussing the pros and cons of Prompt Payment Discounts. However, at this point in time there are other factors in play that favor the use of discounts to encourage earlier payment by your customers. This is a subject that has valid arguments for and against.

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Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

APRIL 11, 2023

Accounts Receivables (AR) require active management. Any O2C friction that results will ultimately have a negative affect on AR performance. Photo by Elisa Ventur on Unsplash When a company’s AR under-performs, the consequences are substantial. Here’s more on Credit Checks.

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Bad Debt Credit and Collections Accounts Receivable (AR) Days Sales Outstanding 130

Your Virtual Credit Manager

DECEMBER 6, 2022

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you. Cash is king.

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DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

NOVEMBER 29, 2022

In fact, most SMBs should look into using Collection Agencies to not only maximize the recovery of Accounts Receivable (AR) at high risk of never being collected, but to collect all old receivables. Historically, the probability of default for a pool of receivables tends to increase as the receivables age.

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Credit and Collections Accounts Receivable (AR) Collector Default 130

Your Virtual Credit Manager

JUNE 20, 2023

Special Offer: On June 26, 2023, at 1PM EDT, David Schmidt will be leading a live webinar covering “ Strategic Collections: Process Efficiency and Tactics to Drive Superior AR Performance.” In terms of extending credit, tightening credit controls to minimize the risk of bad debt loss is a natural result of this mindset.

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Credit Risk Bad Debt Credit and Collections AR Aging 20

Your Virtual Credit Manager

SEPTEMBER 5, 2023

Subscribe now Impact of Offering Discounts From the seller’s perspective, the effect on revenue from offering an early pay discount needs to be weighed against the potential reduction in Accounts Receivable (AR) carrying costs, bad debt and collection expenses. it just might help them pay you sooner!

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Bad Debt Credit and Collections Accounts Receivable (AR) Default 130

Your Virtual Credit Manager

AUGUST 29, 2023

As you review your metrics, here are five signs that there may be a problem with your collection practices: DSO Is Rising: Days Sales Outstanding is the most common metric for measuring accounts receivable (AR) performance. If DSO is rising, you are falling behind.

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DSO Credit and Collections Bad Debt Collection Effectiveness Index 130

Your Virtual Credit Manager

NOVEMBER 1, 2022

Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. The eternal challenge for collectors is that that there are typically more customers to be contacted than time and resources allow. Buy Credit Reports When Is it Time to Automate Collections?

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Credit and Collections Past Due Invoices Bad Debt Accounts Receivable (AR) 130

Your Virtual Credit Manager

APRIL 18, 2023

So, how can a small business acquire high level functional expertise with its “Jack of all trades” workforce, especially in regard to managing the Accounts Receivable (AR) asset? to minimize the chance of bad debt loss. One way is to outsource the function.

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Bad Debt Credit and Collections Accounts Receivable (AR) Third Party Collections 130

Gaviti

FEBRUARY 6, 2023

As accounting processes continue to evolve, it’s becoming increasingly clear that harnessing the power of technology can help businesses streamline their operations and make more informed decisions. Below, we’re reviewing some of the top accounts receivable challenges in 2023 and offering quick ways to shore up your collections process.

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AR Automation DSO Accounts Receivable (AR) Days Sales Outstanding 52

Your Virtual Credit Manager

MARCH 26, 2024

In other words, Portfolio Monitoring involves looking out for external factors that affect your customers and the distribution of risk in your accounts receivable (AR) portfolio. About 25 years ago, a credit manager I know saved his company from a seven-figure bad debt loss by monitoring the Internet on his biggest customers.

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