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?

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

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. Situations change, both for you and for your customer. Even more likely are changes to a customer’s business.

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

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 52

Credit Risk Credit and Collections Bad Debt Default 52

Emagia

NOVEMBER 16, 2022

The common business risks include credit risk which mainly refers to the risk of the borrowers failing to repay credit or loan that has been extended to them, customers failing to pay the invoices raised against the supply of goods or services, or vendors failing to supply goods or services after having been paid in time.

Credit Risk 59

Credit Risk Credit and Collections Default Credit Management 59

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Did you know? What are you waiting for, get started now.

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Abrigo

SEPTEMBER 15, 2022

Researchers find construction loans with more on-site inspections are less likely to default, suggesting that loan monitoring adds value to lenders. More construction loan monitoring ultimately decreases loan default, according to a new FDIC Center for Financial Research working paper. On-site inspections. percentage points. “As

Default 78

Default Credit Risk Credit and Collections Credit Scoring 78

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Did you know? What are you waiting for, get started now.

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

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.

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Bankruptcy Bad Debt Credit Scoring Chapter 11 130

Your Virtual Credit Manager

DECEMBER 27, 2022

For example, there are firms burning through their cash reserves that may still be considered worthy of credit on their next order, but not the order that comes in three months from now. Cash flow is the biggest cause of customers defaults, but often cash flow is a result of other financial problems or miscues.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Bankruptcy 130

Your Virtual Credit Manager

FEBRUARY 13, 2024

Clearly, the level of Business Credit Risk is going to remain elevated as we move through 2024, bringing with it the potential for corresponding increases in bad debt and delinquency. Start with your largest customers along with those you know are at risk. For more on credit evaluations, check out this post.

Bankruptcy 130

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

Your Virtual Credit Manager

MAY 16, 2023

When a commercial account wants to buy your product, chances are they will want credit terms. Business credit, also known as trade credit, facilitates the flow of goods and services between business trading partners. The purpose behind extending trade credit is to facilitate the sale of some other product or service.

Bad Debt 100

Bad Debt Credit and Collections Default High-Risk Accounts 100

MNS Credit Management Group

AUGUST 7, 2023

However, there is always the possibility of loan default. Lenders are picky about whose businesses they give credit to. A company that does not have a sufficient corporate credit score may struggle to obtain crucial loans. What is a company credit score? Business Credit Scores Are Determined By A Number Of Things.

Credit Scoring 52

Credit Scoring Credit Risk Credit and Collections Bad Debt 52

Abrigo

MARCH 13, 2024

How to respond to CRE loan distress Use these tips for banks and credit unions to identify and handle commercial real estate loans that are showing signs of being problem CRE credits. Takeaway 1 Engaging the bank or credit union loan workout team or an outside expert can help restore CRE loans in distress or mitigate their impact.

Credit Unions 89

Credit Unions CECL Default Credit Risk 89

Your Virtual Credit Manager

OCTOBER 31, 2023

Accounts receivable (AR) represent the amounts owed your business by your customers for the purchase of goods or services delivered on credit. The other factor is the credit worthiness of your customers, which you can impact, but cannot guarantee. Especially in these times of high interest rates and economic uncertainty.

Bad Debt 130

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

Your Virtual Credit Manager

DECEMBER 20, 2022

Share Controlling Credit Risk Increasing sales to high margin customers disproportionately increases total gross profit. If the reduction in sales is caused by a concern about the customer’s ability to pay you, there are ways to mitigate this risk and reap the additional profit. Here’s how?

Deductions 130

Deductions Credit and Collections Bad Debt Credit Risk 130

Know-It Global

JULY 5, 2023

Maintaining a healthy cashflow through credit control is crucial for the long-term success and sustainability of any enterprise, especially against the backdrop of soaring insolvencies and record instances of late payment. One effective strategy for achieving this goal is to implement a robust credit control system.

Bad Debt 52

Bad Debt Credit and Collections Debt Collections Credit Risk 52

TreviPay

AUGUST 8, 2023

Credit is a powerful and useful tool, but it should be handled with care… Whether it’s for purchases, mortgages, loan approvals, or B2B financing, many organizations need to create a clear and effective credit decisioning process. What is credit decisioning? What factors play a role in credit decisioning?

Credit and Collections 52

Credit and Collections Credit Risk Credit Card Companies Credit Application 52

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices. Order a new credit report, request updated financial statements, and re-check the references provided when they first applied for credit.

Credit and Collections 130

Credit and Collections Bad Debt Default Credit Risk 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. What are these barriers?

Credit and Collections 130

Credit and Collections Bad Debt Invoice Disputes Credit Management 130

Know-It Global

JUNE 14, 2023

Offering trade credit can bring a huge boost to your business! One effective strategy that accomplishes both goals is offering trade credit. This is an arrangement where businesses extend credit to their customers, allowing them to purchase goods or services and pay at a later date.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk Credit Scoring 52

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Abrigo

MAY 18, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." How broad a field does loan review need to plow to unearth potential credit risks and assess overall credit quality? Scope in loan reviewing What is the scope of an adequate loan review?

Credit Risk 78

Credit Risk Credit and Collections Default Credit Scoring 78

Credit Management Group UK

MAY 27, 2024

On the converse side, when a judgment is obtained in default, (the debtor didn’t respond to the claim so the Claimant is able to enter Judgment) which in our experience has sometime been due to a court error due to their backlog, a debtor is having to wait up to 6 months with a CCJ against them which may be incorrect.

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Credit and Collections Credit Management Credit Risk Default 81

Serrala

AUGUST 29, 2022

The below will guide you through a few easy steps to identify if your credit landscape is due an upgrade. Credit Risk Management Software for Effective Credit Control Proactive credit risk management is a must to support a healthy business strategy.

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Credit and Collections Credit Risk Dashboards Credit Scoring 52

tillful

MAY 17, 2023

Here’s a closer look at what collection filings and derogatory marks mean for businesses. Plus, learn how long they stay on your record, how to prevent them, and tips on getting your business credit back on track. What does it mean to have a business debt in collections? What is a derogatory mark on a credit report ?

Credit and Collections 52

Credit and Collections Bankruptcy Credit Reporting Agencies Credit Scoring 52

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 Flow is the number one cause of small business bankruptcies.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Did you know? What are you waiting for, get started now.

Bad Debt 52

Bad Debt Credit and Collections Credit Risk Default 52

tillful

JUNE 14, 2023

Looking to learn the ins and outs of Experian business credit scores ? as a consumer credit reporting company, but it also collects information on millions of businesses and provides business credit reporting services. You can download the Tillful iOS app to check if your company has a credit profile with Experian.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 52

Know-It Global

JULY 26, 2023

Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Consider shortening the credit period, tightening credit limits, or implementing stricter credit approval processes. Struggling for time?

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Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98

Know-It Global

MARCH 21, 2023

A business credit report is a powerful tool at your disposal that will allow you to get a glimpse into the financial shape of your customers, helping you make smarter credit decisions. The key metric displayed on a business credit report is a business credit score. Get Your Free Business Credit Report!

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit and Collections Credit Risk 52

Serrala

MARCH 14, 2024

Read more Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available. Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk Default 52

Serrala

MARCH 14, 2024

Read more Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available. Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk Default 52

tillful

MAY 12, 2023

A poor business credit score or thin credit history can get in the way when applying for small business loans. This is especially true in higher interest rate environments, when lenders pull back on credit (like now). For instance, you may choose to improve your credit score at this stage before you start your loan applications.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. Did you know? What are you waiting for, get started now.

Bad Debt 52

Bad Debt Credit and Collections Credit Risk Default 52

apruve

OCTOBER 5, 2022

Technology is revolutionizing business payments and trade credit management. If you’re a large business looking for better ways to manage trade credit , you might be wondering: How does trade credit work today? Fintech innovation makes it possible to automate all aspects of the trade credit process. What is Trade Credit?

Credit and Collections 52

Credit and Collections Days Sales Outstanding DSO Default 52

Serrala

MARCH 14, 2024

Read more Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available. Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve customer trust.

DSO 52

DSO Credit and Collections Days Sales Outstanding Invoice to Cash 52

Abrigo

APRIL 21, 2016

As technology and data collection improve, banks and credit unions are finding ways to use this information to improve their loan decision making and thus improve their asset quality in the long term. A probability of default model (PDM) is a system for objectively quantifying future credit risk.

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Default Credit Unions Credit and Collections Credit Risk 60