Your Virtual Credit Manager

FEBRUARY 20, 2024

Financial Health Priorities: Organizations may have specific financial health priorities such as improving liquidity, managing working capital, or reducing credit risk. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. Where do you need to improve?

DSO 130

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

Your Virtual Credit Manager

MAY 14, 2024

If conditions are satisfactory and all your credit and collection assignments have been completed, you can then address the many other tasks and challenges requiring your attention. Do you need help collecting past due receivables or understanding your customer portfolio risks? Why Are Metrics Needed if You Have an AR Ledger?

AR Metrics 130

AR Metrics DSO Credit and Collections Accounts Receivable (AR) 130

Gaviti

MARCH 4, 2024

Once an invoice hits accounts receivable (A/R), it enters what’s called the average collection period. Other common names include “days sales in accounts receivable,” “average receivables collection period,” or “ days sales outstanding (DSO).” What Is an Accounts Receivable Average Collection Period?

DSO 52

DSO Credit and Collections Days Sales Outstanding Credit Sales 52

Gaviti

APRIL 3, 2024

When accounting departments want a quick evaluation of the health of a business, they often look at their DSO, or days sales outstanding. However, days sales outstanding are subject to a range of factors and targets should always be based on the wider context of the business and industry.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Chaser

MAY 2, 2024

Assessing how credit departments receive late payments can help them determine the efficiency of their collection methods. Metrics such as days sales outstanding (DSO) , and average days delinquent (ADD) can help them know their current position and areas they need to improve on.

Average Days Delinquent 52

Average Days Delinquent Days Sales Outstanding DSO Credit and Collections 52

Gaviti

JANUARY 8, 2023

It adds an extra step to credit extension and A/R processes, but it saves organizations time they would otherwise spend hunting payments for invoices. How Prioritization Strategies Improve Collections Performance. Accounts Receivable teams can use prioritization strategies to increase the efficiency of their collections process.

Credit and Collections 98

Credit and Collections Days Sales Outstanding DSO High-Risk Accounts 98

Lockstep

JUNE 15, 2022

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . Getting Started . External and Supporting Data .

AR Automation 89

AR Automation Bad Debt DSO Accounts Receivable (AR) 89

Emagia

NOVEMBER 21, 2023

Most recently that meant talking with a group of leaders in the B2B credit industry as part of NACM South Central’s annual “Day at the Races” event in Louisville, KY. How can AI help decrease DSO (Days Sales Outstanding)? AI can help decrease DSO by improving collections and credit management processes.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections B2B Credit 52

Your Virtual Credit Manager

DECEMBER 19, 2023

As part of that budget, you have likely made some accommodation for your accounts receivable (AR), probably in the form of a Days Sales Outstanding (DSO) objective based on past performance. Hopefully, that is why you are reading Your Virtual Credit Manager. We can help you focus on the AR issues that matter the most.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

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 52

B2B Credit Credit Management Credit and Collections Days Sales Outstanding 52

Your Virtual Credit Manager

APRIL 11, 2023

Subscribe now Ten Reasons Accounts Receivables Under Perform Failure to Conduct Credit Checks: Sometimes newer business are so excited to get an order, they fail to check the new customer’s credit, only to end up selling to a deadbeat and not getting paid. Here’s more on Credit Checks. An under performing AR.

Bad Debt 130

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

Gaviti

NOVEMBER 20, 2023

By extension, most A/R invoice-to-cash management platforms and teams base their key performance indicators (KPIs) on the measurement of Days Sales Outstanding, or DSO. It’s a comparison of how much you were owed at the beginning of the period versus how much you actually collected during that same period.

Collection Effectiveness Index 52

Collection Effectiveness Index Days Sales Outstanding DSO Credit and Collections 52

Your Virtual Credit Manager

JULY 25, 2023

Turning your inventory over faster and your payables slower will add cash to your balance sheet, as will raising capital by selling shares in your company or getting a loan or line of credit. Here are the KPIs you will need at a minimum: Days Sales Outstanding (DSO) - This metric tells you how fast you are converting your sales into cash.

Best Possible DSO (BPDSO) 130

Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

Gaviti

SEPTEMBER 7, 2023

Days sale outstanding is one of the most widely used criteria for judging the effectiveness of your accounts receivable strategy. DSO Formula (Ending Total Receivables ÷ Total Credit Sales) x Number of Days What Is the ‘Best Possible’ DSO? It also paints a picture of the health of your company.

DSO 52

DSO Days Sales Outstanding Past Due Invoices Credit and Collections 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. it just might help them pay you sooner!

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

TreviPay

MAY 12, 2023

Days sales outstanding (DSO) is another good example. What is days sales outstanding (DSO)? Days sales outstanding (DSO) (also known as days receivables or cash collection period ) is a measure used to help determine the state of businesses’ collection process.

DSO 52

DSO Days Sales Outstanding Credit and Collections Total Receivables 52

Onguard

OCTOBER 31, 2023

Credit management, a term often associated with the finance department, turns out to be a dynamic process involving several departments within an organisation. Think sales, marketing, customer success and IT. Let’s face it, manual credit checks and invoice processing can be time-consuming and error-prone.

Credit Management 52

Credit Management Days Sales Outstanding Credit and Collections DSO 52

TreviPay

JANUARY 31, 2023

In-house trade credit management – a costly distraction and unnecessary risk Managing your in-house trade credit program may once have seemed like a good idea – but much has changed: costs and complexity have spiraled. At the same time, the risk of underwriting trade credit is also eliminated.

DSO 52

DSO Days Sales Outstanding Credit Scoring Credit and Collections 52

Gaviti

NOVEMBER 29, 2022

It also gives companies the ability to move away from manual tracking in spreadsheets, to a real-time dashboard, which saves time and gives a full and reliable visualization of the current state of collections. So, how can using a collection dashboard help, and why is it so indispensable as a growth tool? Days Sales Outstanding.

Dashboards 52

Dashboards Average Days Delinquent Credit and Collections Cash Forecasting 52

Gaviti

JANUARY 2, 2024

Average Days Delinquent (ADD) ADD is an essential cash flow metric. It offers data on the effectiveness of your collection efforts by measuring the average number of days it takes to collect overdue payments. But continually high ADD scores across clients may indicate poor collection efficiency on your side.

Collection Effectiveness Index 52

Collection Effectiveness Index Average Days Delinquent DSO Days Sales Outstanding 52

Your Virtual Credit Manager

JULY 11, 2023

This article focuses on one widely used metric, Days Sales Outstanding (DSO) and the best ways to understand it. DSO is criticized as large variations in monthly sales can drive large changes in the metric, as can extending payment terms. For example, if collections are constant and sales are rising, DSO will increase.

Best Possible DSO (BPDSO) 100

Best Possible DSO (BPDSO) DSO AR Metrics Credit and Collections 100

Credit Management Group UK

JANUARY 8, 2023

Preparation before Christmas is ideal in ensuring that your cash flow remains positive throughout the festive period and into the New Year; when you return to work January, jump right back into your collection strategy. Collection strategy – organise your debtors to suit business. Use a mixture of collection techniques.

Days Sales Outstanding 75

Days Sales Outstanding Credit and Collections Credit Management 75

Gaviti

APRIL 24, 2024

Dunning workflows are a series of automated emails and actions that A/R teams use to collect invoices from customers. The Dunning Notice: The Foundation of any Dunning Workflow A dunning notice , or dunning letter, is a document sent to customers at various stages in the dunning process to collect unpaid invoices.

DSO 52

DSO Credit and Collections Bad Debt Days Sales Outstanding 52

Know-It Global

APRIL 13, 2023

This is why it’s crucial that businesses get a firm grip of their cashflow, and one of the most effective ways to maximise your cashflow is by reducing your debtor days. What are debtor days? Debtor days, or as some call days sales outstanding (DSO), is a measure of how long it takes for a company to collect payment from its customers.

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Eagle Business Credit

MAY 2, 2024

At Eagle Business Credit, we understand that effective management of working capital not only improves liquidity but also enhances a firm’s overall profitability and performance. Credit checks and risk assessments ensure that terms are aligned with customer reliability, reducing the likelihood of bad debts.

Days Sales Outstanding 52

Days Sales Outstanding Credit and Collections Bad Debt DSO 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

Gaviti

MARCH 3, 2024

For example, RPA in accounts receivable can automate invoice distribution, payments, collections, payment matching and reconciliation. RPA use cases in finance include invoice processing, bank reconciliation, accounts payable and receivable, payroll processing and credit and risk management. Collections analytics.

DSO 52

DSO Credit and Collections Days Sales Outstanding Cash Applicator 52

Emagia

FEBRUARY 5, 2023

Automation of accounts receivable is the process of automating various manual tasks involved AR process like invoicing, collecting, and tracking receivable to ensure timely collection. Credit Management The starting point in the AR process is credit check, though that is part of broader OTC process.

AR Automation 52

AR Automation Days Sales Outstanding DSO Credit and Collections 52

Collenda

JULY 19, 2023

The platform helps businesses to optimise receivables management and generate more liquidity by actively tracking open invoices, minimising manual collection effort, and maximising recovery rates with automated, customisable processes and workflows. Its state-of-the-art security architecture meets the highest standards.

DSO 52

DSO Days Sales Outstanding Credit and Collections Credit Management 52

Gaviti

DECEMBER 5, 2023

Long payment cycles, supply chain shortages and seasonality combined with a reliance on manual processes for collections are just a few factors that propel companies in the transportation and logistics industries to seek a more efficient process for their cash optimization. These challenges include: Manual A/R collections processes.

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52

Gaviti

DECEMBER 5, 2023

Long payment cycles, supply chain shortages and seasonality combined with a reliance on manual processes for collections are just a few factors that propel companies in the transportation and logistics industries to seek a more efficient process for their cash optimization. These challenges include: Manual A/R collections processes.

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52

Emagia

JULY 3, 2023

Using an AI-powered multi-OCR engine to collect accurate and error-free check remittance information would result in significant cost savings by removing 100% of lockbox key-in fees. The longer it takes, the more it affects both the productivity of your AR team and the credit lines of your customers, ultimately impacting your bottom line.

Automated Cash Application 52

Automated Cash Application Cash Applicator Days Sales Outstanding AR Automation 52

Gaviti

DECEMBER 20, 2022

This helps to ensure that all outstanding payments get handled quickly and efficiently. Automation can help speed up the accounts receivable process, from invoice creation and approval to payment collection. Improved Management and Tracking of Collections. 30% improvement in days sales outstanding.

Days Sales Outstanding 98

Days Sales Outstanding Credit and Collections Transactions 98

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. After all, staying in business is hard if you can’t collect the money your customers owe you.

Accounts Receivable (AR) 52

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

Emagia

AUGUST 23, 2023

Receivables are the sums that a company’s customers or clients owe it for items sold or services provided on credit. When a company grants a customer short-term credit, they record a receivable in their accounting system and send them an invoice to collect payment. It stands for the business’s right to get paid by its clients.

Credit and Collections 52

Credit and Collections DSO Days Sales Outstanding Bad Debt 52

Collenda

MARCH 25, 2022

Collenda held a Webinar together with the credit management consulting firm CRiON about working capital performance, do you see a lot of need for improvement? There are many levers that receivables and collections managers can use to improve performance and liquidity. We talked to him. Can you name a few “dysfunctions” please?

DSO 52

DSO Days Sales Outstanding Credit and Collections Default 52

Gaviti

SEPTEMBER 4, 2022

Incorrect customer information can be the culprit behind a few missed payments here and there, but if a failure to collect has become a regular occurrence in your business, it’s time to examine your outreach process in more depth. Other companies want to minimize the time to collect due to limited flexibility with their operating costs.

Days Sales Outstanding 52

Days Sales Outstanding Credit and Collections 52