Your Virtual Credit Manager

MARCH 12, 2024

As a result, trade credit, where businesses extend financing to customers, is undergoing rapid advancements, but it also poses high risks, especially in assessing creditworthiness, dealing with economic fluctuations, and fraud. While these are excellent recommendations, they are a bit laden with consultant-speak.

AR Transformation 100

AR Transformation Credit and Collections Accounts Receivable (AR) Order to Cash 100

Your Virtual Credit Manager

APRIL 16, 2024

Market volatility and rising costs are instead disrupting working capital budgets, causing late payments that inflate accounts receivable (AR). check, ACH, credit card, etc.), Know the Law: Familiarize yourself with the legal complexities of commercial credit and debt collection. Share Read more

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Accounts Receivable (AR) Debt Collections Credit and Collections Collector 130

Your Virtual Credit Manager

JANUARY 2, 2024

Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. For most firms, late customer payments are a frequent occurrence and collecting them can be a difficult task. This post focuses on the aspect of collections that involves Credit Holds.

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Bad Debt Credit and Collections Accounts Receivable (AR) Credit Management 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. There are multiple costs and vulnerabilities that emerge.

Bad Debt 130

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

Your Virtual Credit Manager

NOVEMBER 14, 2023

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. What’s Right for Your Firm?

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Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

MARCH 21, 2023

Subscribe now Lessons to Be Learned Looked at from the perspective of somebody responsible for the management of a portfolio of accounts receivable (AR), the events surrounding the SVB collapse present a cautionary tale. Any enterprise extending credit to another business needs to have real treasury expertise.

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

Your Virtual Credit Manager

DECEMBER 5, 2023

This misguided search for a singular understanding applies to many things, including collecting Accounts Receivable (AR). Optimal Collection results are achieved by utilizing different collection techniques with different types of customers. If not, you will need to note whether each account is a high, medium, or low credit risk.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Third Party Collections Credit Risk 130

Your Virtual Credit Manager

MAY 7, 2024

Credit Risk: Persistent payment issues with a customer often signal credit risk, impacting a supplier's ability to secure financing or credit insurance related to the receivable in question. This can limit a supplier's capacity to extend credit to other customers. our standard subscription is only $5 per month.

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Credit and Collections Credit Risk Credit Management Order to Cash 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!

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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. You should also pro-actively use your Collection Agency to collect any AR that has drifted more than 90 to 120 days past due.

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Credit and Collections Accounts Receivable (AR) Collector Default 130

Your Virtual Credit Manager

APRIL 4, 2023

With a growing number of experts predicting a recession to hit later this year, and inflation and interest rates remaining at elevated levels, squeezing every dollar out of your investment in Accounts Receivable (AR) is more important than ever. What constitutes optimization of a company’s AR?

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

Your Virtual Credit Manager

OCTOBER 25, 2022

The result of timely and accurate Remittance Processing is an accurate Accounts Receivable (AR) Ledger, which provides the current status of every customer’s balance owed to you. Alienation of customers whose orders are unjustly held up because their payment has not yet been applied. This problem affected most of their customers.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Cash Applicator Deductions 130

Plooto

JANUARY 16, 2023

Thank you for choosing Plooto for your AP/AR automation needs. Plooto’s payment processing features have helped many businesses like yours streamline their credit card processing , cut costs, and save time.

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AR Automation 98

The Esker Blog

JANUARY 3, 2023

And after years of supplier shortages, drastic demand fluctuations, increased operating costs and liquidity pinches, finance leaders are prioritizing goals associated with reaching the lowest DSO possible and quickly recovering payment on accounts receivable (AR). Are your credit terms appropriate and followed by your sales department?

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DSO Accounts Receivable (AR) Credit and Collections Days Sales Outstanding 98

The Esker Blog

DECEMBER 13, 2022

With the New Year right around the corner, it’s an opportune time for finance leaders to review, reassess and rethink their accounts receivable (AR) strategies. Where should AR leaders focus their attention? Within the invoice-to-cash (I2C) process, there are many areas that AR leaders could focus on. Rethink processes.

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Accounts Receivable (AR) DSO Bad Debt Invoice to Cash 97

Your Virtual Credit Manager

DECEMBER 12, 2023

Ideally you need to not only check the customer’s credit as part of the customer aquisition and onboarding process, but also prior to renewal. Obviously, the criticality of customer credit increases with the amount of revenue being generated. We are currently offering 33% off our standard SMB consulting rates.

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Days Sales Outstanding DSO Credit Management Small Businesses 130

Your Virtual Credit Manager

AUGUST 22, 2023

The bad news is that nearly 21 percent of last year’s startups will fail this year leaving you with a bad debt on your books if you sold to them on credit terms. it stands to reason that most of you customers will be small businesses as well as being firms that are under 10 years of age.

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Credit and Collections Bad Debt Credit Risk Bankruptcy 130

Gaviti

APRIL 24, 2023

The AR team must identify problems and seek long-term solutions. Poor Vetting Process for New Customers When you extend credit, you must do so because you can reasonably expect to get paid that money eventually. To make matters worse, bad debtors often take on as much credit as possible without considering their repayment ability.

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Credit and Collections Bad Debt 95

Your Virtual Credit Manager

JULY 18, 2023

Photo by Campaign Creators on Unsplash Commerce between companies is facilitated by a trade credit relationship. When a supplier or vendor grants open credit terms to their business customers, both parties benefit. Subscribe now When Are Financial Statements Not Needed? D&B, Experian, Equifax, CreditSafe, etc.)

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Credit and Collections Credit Scoring Credit Management Credit Application 130

Your Virtual Credit Manager

JANUARY 10, 2023

Photo by Patrick Hendry on Unsplash Although defaults resulting in significant bad debt losses are a rare event for trade creditors, much of the focus of AR Management is on credit risk. Banks make money by lending so they pay close attention to the credit risk of the borrower. Buy Credit Reports 4.

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Credit and Collections Bad Debt Invoice Disputes Credit Management 130

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.

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

billtrust

DECEMBER 20, 2022

Accelerate digital payments by leveling up your AR automation. Automated AP comes with challenges for AR teams. She recently was a guest speaker at a Billtrust webinar where the discussion focused on the most pressing cash application challenges burdening AR departments. Automated AP comes with challenges for AR.

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AR Automation Digital Lockbox Cash Applicator Collector 52

apruve

AUGUST 30, 2022

Why are B2B Payment Trends Moving Digital? Efficiency and cost are perennial concerns for AR teams with B2B payments. Part of the move to digital is the increasing pressure on credit departments in enterprise organizations to lend wisely. However, credit cards often come with fees, especially for international purchases.

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Days Sales Outstanding DSO Transactions 52

TreviPay

AUGUST 11, 2023

Why are B2B payment trends going digital? Efficiency and cost are perennial concerns for AR and finance teams along with B2B payments. Part of the move to digital is the increasing pressure on credit departments in enterprise organizations to lend wisely. They have the same reasons as consumers do.

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Credit Card Payments Accounts Receivable (AR) Days Sales Outstanding Transactions 52

Lockstep

JULY 27, 2022

In today’s economy, it is essential to be able to allocate credit where it is needed most. based B2B sales are paid using customer credit, knowing how much credit to extend and to which customers is of dire importance. Issuing too much credit to the wrong customers can lead to disastrous outcomes. .

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Credit Scoring Accounts Receivable (AR) Bad Debt AR Automation 86

The Corcentric Blog

MAY 22, 2023

Multiple steps within the O2C cycle, such as invoicing, credit & collection, payments, and reporting are undertaken within accounts receivable. It is possible to obtain success by leveraging automated AR technology, but understanding the best way to use this type of solution is important.

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Order to Cash AR Automation Credit and Collections Credit Application 40

Lockstep

JULY 20, 2022

What are Credit Cards? A credit card is a plastic card that gives the cardholder a line of credit to purchase items or withdraw cash. Credit cards are one of the most popular payment methods today. What are Virtual Cards? This reduces the risk of fraud. .

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Electronic Funds Transfer DSO Days Sales Outstanding AR Automation 84

Emagia

JULY 3, 2023

Cash Application Automation for True Straight-Through Processing It takes a lot of human effort for your internal accounts receivable (AR) personnel to manually match payments to customers’ accounts. Consider using cash application software and AR automation to simplify this procedure and reduce manual labor.

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Automated Cash Application Cash Applicator Days Sales Outstanding AR Automation 52

Gaviti

MARCH 21, 2023

If the potential customer has poor credit or gives off any sort of indication that they will not be able to make payments on time, you may want to consider not doing business with them. This may include direct deposits, credit card payments, sending in a paper check, or some other alternative.

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Invoice to Cash Credit and Collections Alternative Payment Methods Credit Card Payments 52

Lockstep

MAY 17, 2022

This week, we are celebrating the success of our wonderful customers, because accounting teams are the backbone of every business. Even more so, without the organization and fortitude of the accounts receivable (AR) teams, cash flow would be a “cash trickle.” .

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Accounts Receivable (AR) Days Sales Outstanding DSO 52

billtrust

OCTOBER 5, 2022

Which are the key activities of remote AR departments? What are the five most frequent mistakes made by remote AR staff? If you’re like most businesses, your accounts receivable (AR) process could use a little streamlining. Below are a few tips to help you streamline your accounts receivable.

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Accounts Receivable (AR) Credit and Collections AR Automation Credit Card Companies 52

billtrust

OCTOBER 27, 2022

Credit cards. One of the most common forms of payment is the good old-fashioned credit card. Credit cards allow customers to make purchases without carrying large amounts of cash. You’ll need to accept credit card payments to stay competitive while doing business online. Debit cards.

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Credit and Collections Bad Debt Credit Card Payments Transactions 52

Waystar

MAY 31, 2023

Since implementing these targeted patient financial care strategies, Renown Health has seen great results, including a 21% increase in patient payments and a 50% reduction in AR days. Under their legacy vendor, they had to rely on point solutions, manual reconciliation, and far too many credit card companies in the collections process.

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Medical Billing Credit and Collections Credit Card Companies 52

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. Read on for tips on controlling your AR and maximizing your ROI today.

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

NorthOne

JUNE 4, 2023

How to Streamline the Accounts Receivable Process Accounts receivable (AR) processes are essential to effective invoice and payment tracking. A streamlined AR process can improve cash flow and reduce the burden of manual invoicing and payment tracking.

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Accounts Receivable (AR) Credit and Collections Transactions Small Businesses 52

TreviPay

JANUARY 6, 2023

With one co-branded card, FBO’s clients can pay for all the fuel and aviation services they need from from the FBO, or any other supplier across the global TreviPay Aviation Network. Valuable Level III data is captured for every transaction, no matter where clients spend with their card on the TreviPay Aviation Network.

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Invoice Disputes Credit and Collections Transactions 52

TreviPay

JANUARY 6, 2023

With one co-branded card, FBO’s clients can pay for all the fuel and aviation services they need from from the FBO, or any other supplier across the global TreviPay Aviation Network. Valuable Level III data is captured for every transaction, no matter where clients spend with their card on the TreviPay Aviation Network.

Invoice Disputes 52

Invoice Disputes Credit and Collections Transactions 52