Your Virtual Credit Manager

MARCH 19, 2024

Whether you have automated the collection process or not, mapping out collection strategies for the different types of customers in your accounts receivable (AR) portfolio is an accepted best practice. Are there past-due accounts you are trying to collect?

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Accounts Receivable (AR) 100

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. In small companies, this may occur due to a lack of credit analysis skills.

Credit and Collections 130

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

Your Virtual Credit Manager

MARCH 5, 2024

Are there past due accounts you are trying to collect? The experts at Your Virtual Credit Manager can help you bring in the cash. We are currently offering 33 percent off our standard rates. These are all distractions to the main objective and they reduce the efficiency of your limited collection effort.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Accounts Receivable (AR) 100

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.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

MAY 2, 2023

Epiq Bankruptcy: Bankruptcy Filings Increase Across All Chapters in March; Commercial Filings Up 79 Percent Year-over-year If you are extending credit to other businesses on open terms, reassessing your company credit policies as well as the latent risks that may affect accounts receivable (AR) performance and cash flow should be a top priority.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

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.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Collector Default 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.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

DECEMBER 27, 2022

Cash flow is the biggest cause of customers defaults, but often cash flow is a result of other financial problems or miscues. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank. Credit grantors will often consider other factors as well.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) 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.

Bad Debt 130

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

Your Virtual Credit Manager

JUNE 27, 2023

No two are alike, but they do tend to fall into some common groupings. Identifying the groupings within your customer accounts receivable (AR) portfolio enables you to deal with them all more effectively and efficiently. Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts.

Collector 26

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

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.” Frequent communication is advised so these customers are clear about your expectations and the ramifications of failing to comply with them.

Credit Risk 20

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. We are currently offering 33% off our introductory rate.

Bad Debt 130

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.

DSO 130

DSO Credit and Collections Bad Debt Collection Effectiveness Index 130

Your Virtual Credit Manager

NOVEMBER 1, 2022

The key factors informing your prioritization scheme are: The amount of the past due accounts receivable (AR) The age of the past due AR (e.g, It is most effective when the Escalation Protocols are agreed to by management and explained to all customer-facing personnel. 15 days or 120 days?)

Credit and Collections 130

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? Even so, if you are heavily selling big box retailers, they may be able to help you, especially if you have a backlog.

Bad Debt 130

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.

AR Automation 52

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.

Bankruptcy 130

Bankruptcy Bad Debt Credit Scoring Chapter 11 130