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Have you thought about Outsourced Credit Management?

Credit Management Group UK

I have found over the years that many businesses do not have a dedicated credit control department within their business, rather this task is assigned to a role as an added responsibility; this often leads to poor collection activity due to lack of time and training to focus on effectively carrying out credit control.

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What Triggers Your Collection Efforts?

Your Virtual Credit Manager

If all your customers paid promptly — by the time the invoice was due — you would not need to do any collection work. The amount of collection activity with which you are tasked is directly proportional to your customers’ payment habits. Are there past-due accounts you are trying to collect?

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Red Flags, Slow Payments, and Collection Secrets

Your Virtual Credit Manager

Hopefully, these insights will help you with your collection efforts Not a subscriber … why don’t you take advantage of a YVCM subscription? An increasing number of customers paying beyond terms (past due) will decelerate your cash flow, though you will eventually collect the funds owed.

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AR Data Management, AR Automation, & Accelerating Cash Flow

Your Virtual Credit Manager

Likewise, cleaning out the clutter that’s accumulated in your AR Ledger will make your AR portfolio “easier” to manage. What’s Involved in “Cleaning” an AR Portfolio In a perfect world, your AR Ledger would contain only whole, current invoices; or at least nothing seriously past due.

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Top AML concerns for credit unions: A BSA Officer’s perspective

Abrigo

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Kingdom Trust had virtually no process to identify and report suspicious transactions, processing over $4 billion in international wires with no controls.

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Top AML concerns for credit unions: A BSA Officer’s perspective

Abrigo

Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. Kingdom Trust had virtually no process to identify and report suspicious transactions, processing over $4 billion in international wires with no controls.

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Cybersecurity Awareness Month: How financial institutions can stay safe and secure online

Abrigo

Department of Homeland Security (DHS) as a collaborative effort between government and industry to ensure every American has the resources they need to protect themselves from cyber threats. Host webinars or workshops for your employees, customers, or members that cover topics such as password management or phishing prevention.