Your Virtual Credit Manager

NOVEMBER 1, 2022

Photo by Kenny Eliason on Unsplash Effective collections is the single most important factor for achieving reliable cash inflows. Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. The solution to the collections challenge therefore starts with Prioritization.

Credit and Collections 130

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

Your Virtual Credit Manager

APRIL 9, 2024

There has always been a strong correlation between the cost of funds and accounts receivable (AR) management. Any delays in receiving payments from customers can, therefore, have a more pronounced effect on a company's bottom line profits. Where Are Interest Rates Headed? it just might help them pay you sooner.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Credit Card Payments Collections Automation 130

Your Virtual Credit Manager

MARCH 26, 2024

Approving a new customer for credit terms is merely the first step taken by a B2B vendor to begin an open credit relationship. Economic circumstances may prompt a vendor to either tighten or loosen its credit policies and customer credit limits. Your Account Reviews provide the foundation for your Portfolio Monitoring.

Bankruptcy 130

Bankruptcy Bad Debt Credit Scoring Chapter 11 130

Your Virtual Credit Manager

FEBRUARY 13, 2024

Clearly, the level of Business Credit Risk is going to remain elevated as we move through 2024, bringing with it the potential for corresponding increases in bad debt and delinquency. The good news is that there are a number of actions you can take to reduce your loss exposure and shore up your accounts receivable (AR).

Bankruptcy 130

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

Your Virtual Credit Manager

DECEMBER 27, 2022

For example, there are firms burning through their cash reserves that may still be considered worthy of credit on their next order, but not the order that comes in three months from now. Cash flow is the biggest cause of customers defaults, but often cash flow is a result of other financial problems or miscues.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Bankruptcy 130

Your Virtual Credit Manager

OCTOBER 31, 2023

Accounts receivable (AR) represent the amounts owed your business by your customers for the purchase of goods or services delivered on credit. Because AR constitutes one of largest assets on your books, proactively managing accounts receivable is crucial for the financial health of your business.

Bad Debt 130

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

Your Virtual Credit Manager

OCTOBER 17, 2023

Extending credit is the financial backbone of Business-to-Business (B2B) commerce. If you require payment in advance or upon delivery of goods or services, you are unlikely to find many customers willing to trade on those terms causing your business to not generate enough revenue to survive.

Bad Debt 130

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

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. These costs are usually small, but not always trivial.

Bad Debt 130

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

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Effectively managing accounts receivable (AR) is essential for a company's financial well-being. Poor receivables performance affects cash flow, and it is no secret that cash flow problems are the leading cause of business failures. Credit evaluations, however, often take time. Offer ends 9/30/23.

Credit and Collections 130

Credit and Collections Bad Debt Accounts Receivable (AR) Deductions 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? Credit Risk Evaluations : If you purchase Credit Risk Insurance, the insurer will serve as your Credit Department.

Bad Debt 130

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

Bad Debt 130

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. it just might help them pay you sooner!

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

billtrust

NOVEMBER 1, 2022

The primary goals of accounts receivable The best KPI for accounts receivable Ten AR optimization goals you should accomplish How to get paid faster with key collection strategies How accounts receivable automation can eliminate manual tasks. What is the best KPI for accounts receivable?

Accounts Receivable (AR) 52

Accounts Receivable (AR) Bad Debt Days Sales Outstanding DSO 52

lsq

JULY 31, 2023

We have seen a decreased appetite for risk and increased instances of banks asking companies to exit lines of credit – or worse, banks leaving companies in limbo somewhere between not fundable but not yet in turnaround or workout. For many companies, the answer is accounts receivable (AR) finance. And rightly so.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Bankruptcy Credit and Collections Default 52

lsq

JULY 31, 2023

We have seen a decreased appetite for risk and increased instances of banks asking companies to exit lines of credit – or worse, banks leaving companies in limbo somewhere between not fundable but not yet in turnaround or workout. For many companies, the answer is accounts receivable (AR) finance. And rightly so.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Bankruptcy Credit and Collections Default 52

Gaviti

FEBRUARY 6, 2023

And with the proliferation of AI and machine learning tools in the digital landscape, 2023 is the perfect time for accounts receivable (AR) teams to examine their processes and find areas for improvement through better technologies, tactics, and process management.

AR Automation 52

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

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.

Credit Risk 20

Credit Risk Bad Debt Credit and Collections AR Aging 20

tillful

NOVEMBER 8, 2022

Accounts receivable (AR). Accounts receivable refers to money owed to a business by third parties like customers or clients. For example, if you provide a service and allow your client 60 days to pay, the amount they owe you will be recorded under your accounts receivables until it’s paid.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit Scoring Deductions Credit and Collections 52

Your Virtual Credit Manager

JUNE 27, 2023

Some business customers are easy to deal with, others not so much. Some have good credit, others are clear risks. No two are alike, but they do tend to fall into some common groupings. If a Faithfully Tardy customer runs into cash flow problems, you are likely to see them extend their payment cycle even further.

Collector 26

Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26