Your Virtual Credit Manager
NOVEMBER 14, 2023
It affects the level of bad debt loss (uncollected Accounts Receivables) you suffer. Its impact on revenue: it can result in higher sales (and gross profit), or lower sales and gross profit depending on how much risk your Credit Policy tolerates and how well it is executed. Insurers want to be paid for the risk they bear.
Your Virtual Credit Manager
APRIL 11, 2023
Poor Credit Controls: Poor credit control practices can result in providing goods or services to high-risk accounts that are likely to pay beyond terms or even default on payments. Late or inconsistent follow-up on overdue accounts leads to longer payment cycles and increased bad debt write-offs.
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Your Virtual Credit Manager
MAY 16, 2023
By avoiding the following common traps, or myths if you will, businesses can minimize the risk of non-payment or default and make better informed decisions about extending credit to other businesses that will boost sales and profits. Credit evaluations prevent more bad debts than collection efforts.
Your Virtual Credit Manager
JANUARY 17, 2023
it just might help them pay you sooner!
Know-It Global
JUNE 20, 2023
It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. This guide provides a comprehensive overview of credit control practices and strategies that your business can implement to mitigate credit risk, reduce debtor days and boost cashflow!
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 task is twofold: Optimizing cash inflows (and avoiding bad debt) confined by the number of requests for payment that can be made within a specified time period.
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