Bad Debt, Credit and Collections and Credit Application

Due Diligence Doesn't End with the Credit Application

Your Virtual Credit Manager

JANUARY 23, 2024

Approving a customer for credit terms is merely the first step in an open credit relationship. Economic circumstances may cause you to tighten your credit policies and customer credit limits. In this case, ongoing Portfolio Monitoring was critical to turning up the customer intelligence that avoided a huge bad debt loss.

Credit Application

Credit Application Bad Debt Bankruptcy Credit Scoring

Debt Collection Mistakes Can Prove Costly

Your Virtual Credit Manager

JANUARY 16, 2024

If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. You need to be doing the right things.

Debt Collections

Debt Collections Collector Credit and Collections Bad Debt

Introducing: Cash Application, Credit Application Management, Integrated AI and Much More

Gaviti

SEPTEMBER 6, 2023

Contact your customer success manager or email us at info@gaviti.com Join our webinar on Sep 13th to learn more about the new Cash Application module >> Credit Application Management: Empowering Risk Management and Visibility Avoid high risk customers from the start and monitor ongoing risk as they build a relationship with you.

Cash Applicator

Cash Applicator Credit Application Collector Credit and Collections

How to Incorporate Credit Risk Management in Business

Credit Management Group UK

MARCH 4, 2024

Having credit risk processes in place from the outset is ideal, but credit risk management procedures can be implemented at any stage to reduce your exposure to risk of bad debt write off, improve cash flow and protect your profit Below are a few methods to use for managing credit risk.

Credit Risk

Credit Risk Bad Debt Credit and Collections Credit Application

Equip Your Collection Agency for Success

Your Virtual Credit Manager

NOVEMBER 29, 2022

Photo by Ralph Hutter on Unsplash Confronted with high interest rates and inflation, and heading into a what is increasingly looking like a recession, small- and medium-sized businesses (SMBs) will probably need to use a Collection Agency more than they have in the past.

Credit and Collections

Credit and Collections Accounts Receivable (AR) Collector Default

Get Ready for a Wave of Commercial Bankruptcies

Your Virtual Credit Manager

FEBRUARY 13, 2024

This prediction, although bold, is corroborated by the broader economic data, including escalating corporate bankruptcies, tightening loan standards by banks, and the surge in delinquent debt balances and consumer debt. For more on credit evaluations, check out this post. Here’s more on setting credit limits.

Bankruptcy

Bankruptcy Credit and Collections Bad Debt Accounts Receivable (AR)

Seven Hacks for Improving Later Phase Collection Results

Your Virtual Credit Manager

AUGUST 8, 2023

Collecting from other businesses begins as a series of reminders followed by administrative tasks to provide your customer with the information they need to pay your invoice, and can also involve reconciling your information to theirs. Later phase collections require a much heavier reliance on problem solving and negotiation skills.

Credit and Collections

Credit and Collections Third Party Collections Bad Debt Credit Management

Is Your AR Generating All the Cash Flow It Should?

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Credit evaluations, however, often take time. Offer ends 9/30/23. Subscribe now 2.

Credit and Collections

Credit and Collections Bad Debt Accounts Receivable (AR) Deductions

Avoid Falling Into These 7 AR Management Traps

Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle.

Credit and Collections

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

Tips for Customer Focused & Effective Credit Management

Credit Management Group UK

JULY 19, 2023

Small businesses need to ensure they have the most effective credit management systems and skills to tackle late payment seriously, to avoid becoming one of those statistics. Yet many companies take a ‘sledge hammer’ approach to collecting payment from their customers. Credit management should be ‘customer focused’.

Credit Management

Credit Management Bad Debt Credit and Collections Credit Application

Don't Leave Converting Sales into Cash to Chance

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. The company ended up writing off millions of dollars in bad debt.

DSO

DSO Credit and Collections Bad Debt AR Aging

Why is B2B Credit Automation Critical in The Digital Era?

Emagia

FEBRUARY 2, 2024

OTC, the main cash flow driver, has many subsets within it, and credit management is more important than it looks on the surface. The top line and bottom line will be positively impacted when a sales order is received and fulfilled, but your business is at risk till you collect cash against the invoice.

B2B Credit

B2B Credit Credit and Collections Credit Application Credit Management

Resolve to Be More Proactive in 2024

Your Virtual Credit Manager

JANUARY 9, 2024

Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. In fact, once you decide to sell a customer on open credit, most of the accounts receivable (AR) management tasks that follow have a reactive component. There is nothing wrong with that.

Credit and Collections

Credit and Collections AR Aging Accounts Receivable (AR) Deductions

AR Data Management, AR Automation, & Accelerating Cash Flow

Your Virtual Credit Manager

JANUARY 3, 2023

Over time, AR Ledgers unfortunately tend to collect “Clutter.” Clutter can also cause new orders to be placed on a credit hold when it otherwise would have been automatically released. Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late.

AR Automation

AR Automation Collector Credit and Collections Bad Debt

B2B Credit Management

TreviPay

MARCH 20, 2023

Credit management is integral to accounts receivable management. Good credit management supports consistent cash flow, smooth payment collections, customer satisfaction, and much else. Getting B2B credit management right can make a huge difference to a company’s success and growth… What is credit management?

B2B Credit

B2B Credit Credit Management Credit and Collections Days Sales Outstanding

What is Credit Risk Management: Principles, Examples, and Best Practices

Emagia

JUNE 12, 2023

Credit risk management plays a critical role in the financial health and stability of businesses across industries. It involves identifying, assessing, and mitigating the potential risks associated with extending credit to customers or counterparties. What is Credit Risk Management? Credit Risk Management Steps?

Credit Risk

Credit Risk Credit and Collections Bad Debt Default

Best Practices for Managing Delinquent Accounts in Accounts Receivable

Gaviti

NOVEMBER 16, 2023

The method you choose will depend on a range of factors, including how you define a delinquent account, the level of delinquency, how it impacts your organization, and whether or not it affects your company’s credit report. It extends the time period until a receivable is collected, increasing the risk of negative cash flow.

Credit and Collections

Credit and Collections Bad Debt Debt Collections Invoice to Cash

Accounts Receivable Analysis: Meaning, Objectives, Importance

Gaviti

APRIL 11, 2024

Are you offering enough or too much credit to customers? Are you able to collect invoices on all of the revenue your business generates? How much bad debt does the company have, and how has this changed over time? How much bad debt does the company have, and how has this changed over time?

Bad Debt

Bad Debt Credit and Collections Collection Effectiveness Index DSO

Key Advantages of Autonomous Finance in A/R Collections

Gaviti

OCTOBER 30, 2023

What are the Benefits of Autonomous Finance in A/R Collections? Automating manual tasks such as A/R invoice collections and account reconciliation eliminates these tasks that are prone to human error. As a result, businesses can increase productivity in their A/R collections teams without hiring additional staff.

Days Sales Outstanding

Days Sales Outstanding Invoice Collections Credit and Collections DSO

How To Minimize Bad Debt For Small Business

Eastern Credit Management Services

NOVEMBER 13, 2019

There are two places that you can institute policies around to help minimize your risk of overdue accounts receivable before you extend credit to your customer and after the overdue account is accrued. A detailed credit application does two things, it informs your customer of the terms and conditions of the credit you extend.

Bad Debt

Bad Debt Small Businesses Credit Reporting Agencies Credit and Collections

The Importance of the Accounts Receivable Aging Report

Gaviti

APRIL 18, 2024

As an assessment and diagnostic tool, it’s hard to overstate the importance of your company’s accounts receivable (AR) collections aging report. This report is a valuable tactic to stay on top of cash flow and improve short-term collections forecasting. Cash flow problems usually relate to collection policies or customer behavior.

AR Aging

AR Aging Credit and Collections Bad Debt Accounts Receivable (AR)

Are There Hidden Risks in Your AR Portfolio?

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. Situations change, both for the vendor and for its customers.

Bankruptcy

Bankruptcy Bad Debt Credit Scoring Chapter 11

Credit Management Source

Due Diligence Doesn't End with the Credit Application

Debt Collection Mistakes Can Prove Costly

Trending Sources

Introducing: Cash Application, Credit Application Management, Integrated AI and Much More

How to Incorporate Credit Risk Management in Business

Equip Your Collection Agency for Success

Get Ready for a Wave of Commercial Bankruptcies

Seven Hacks for Improving Later Phase Collection Results

Is Your AR Generating All the Cash Flow It Should?

Avoid Falling Into These 7 AR Management Traps

Tips for Customer Focused & Effective Credit Management

Don't Leave Converting Sales into Cash to Chance

Why is B2B Credit Automation Critical in The Digital Era?

Resolve to Be More Proactive in 2024

AR Data Management, AR Automation, & Accelerating Cash Flow

B2B Credit Management

What is Credit Risk Management: Principles, Examples, and Best Practices

Best Practices for Managing Delinquent Accounts in Accounts Receivable

Accounts Receivable Analysis: Meaning, Objectives, Importance

Key Advantages of Autonomous Finance in A/R Collections

How To Minimize Bad Debt For Small Business

The Importance of the Accounts Receivable Aging Report

Are There Hidden Risks in Your AR Portfolio?

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