Bectran

JULY 26, 2023

As technology continues to evolve, the traditional credit process is becoming more and more obsolete in the 21st century. Credit professionals are turning to automated and digitized processes and workflows to free them from tedious, paper-intensive processes.

Transactions 89

Transactions Accounts Receivable (AR) Credit and Collections 89

Your Virtual Credit Manager

FEBRUARY 7, 2023

Looking around us, the Amazons, Netflixes, and HubSpots of the world were billing and charging clients automatically, while our business’s billing and collections looked pretty much the same as it had been done before computers. Getting paid can be a pain. Why not share this newsletter with your small business customers?

AR Automation 130

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

Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

MNS Credit Management Group

SEPTEMBER 24, 2023

In addition to giving solicitors instructions to start legal proceedings, we also offer credit management services including sending letters of demand prior to legal action, a service that looks into a company’s history, credit reports, and status reports. When a client owes a business money, consumer collections take place.

Debt Collections 52

Debt Collections Credit and Collections Collector Credit Management 52

Waystar

MARCH 21, 2023

Point-of-service collections in healthcare grow more complex — and more critical — each day. Use these four tips to improve your collections at the time of care. Point-of-service collections in healthcare tip: 1. Share the costs Co-payment collections are a necessity. Can’t wait for a new blog each week?

Credit and Collections 98

Credit and Collections Deductions Transactions 98

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

SAP Credit Management

JANUARY 30, 2023

I would like to show you, how external collected requirements can be uploaded into SAP Focused Build by using the requirements import function. So it can happen that the system set up and the collection of the requirements need to run in parallel. This function was designed to bring requirements from one system into another.

Transactions 137

Transactions 137

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. DOWNLOAD Takeaway 1 Preventing fraud is a top concern of credit unions considering adopting FedNow, the new instant payments infrastructure from the Federal Reserve. These include the ability to accept a payment without posting.

Credit Unions 88

Credit Unions Credit and Collections Transactions Cybersecurity 88

Your Virtual Credit Manager

AUGUST 23, 2022

A key difference (besides volume of transactions) is the lack of labor specialization. Photo by CDC on Unsplash Small businesses have to deal with many of the same challenges as larger ones.

Transactions 130

Transactions Small Businesses 130

Eastern Credit Management Services

DECEMBER 4, 2023

In the intricate world of debt recovery, success is not just measured by dollars collected but also by the relationships built along the way. At Eastern Credit Management Services, based in the heart of Atlantic Canada, we understand that communication, choice, and control are the pillars of a successful collections strategy.

Credit and Collections 52

Credit and Collections Credit Management Transactions 52

TreviPay

NOVEMBER 20, 2023

Although it’s commonly accepted B2B trends lag behind consumer-focused initiatives, business customers still want—and expect—fast and frictionless transactions. Credit Cards Are Convenient but Not Perfect In many ways, credit cards seem like the answer to an inefficient, error-prone and slow payments process.

Credit and Collections 105

Credit and Collections Transactions Credit Application 105

Emagia

JULY 12, 2023

Point of Sale (POS) transactions have revolutionized the way businesses conducts their sales and interact with customers. In a rapidly evolving digital landscape, POS transaction serves as the pivotal link between the buyer and the seller, facilitating seamless and secure payment processes. What is POS (Point of Sale) Transaction?

Transactions 52

Transactions Credit and Collections 52

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

Due

APRIL 24, 2023

The versatility of credit cards in terms of acceptance and rewards makes them a preferred payment method for millions. After all, credit cards were introduced to ease up your payments and, thereby, your lifestyle, right? However, nobody wants to be an unfortunate victim of a credit card scam. billion through fraud.

Credit and Collections 111

Credit and Collections Transactions 111

Emagia

MAY 16, 2023

The average collection period is an important accounting metric that evaluates a company’s ability to manage its accounts receivable (AR) effectively. It measures the time it takes for the business to collect payments from its clients, which reflects its cash flow effectiveness and ability to meet short-term financial obligations.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections DSO Credit Sales 52

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. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank.

Credit Scoring 130

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

Your Virtual Credit Manager

APRIL 30, 2024

Photo by Freddie Collins on Unsplash ) Trade credit terms are intended to provide a convenience for the customer and unlike most loans are generally unsecured, in large part because they have a short term. Do you need help with Customer and Portfolio Risk Analysis, or are there Past-Due Accounts you are trying to collect?

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 100

Waystar

MARCH 21, 2023

Point-of-service collections in healthcare grow more complex — and more critical — each day. Use these four tips to improve your collections at the time of care. Point-of-service collections in healthcare tip: 1. Share the costs Co-payment collections are a necessity. Can’t wait for a new blog each week?

Credit and Collections 52

Credit and Collections Deductions Transactions 52

Lendio

NOVEMBER 17, 2023

Understanding the nuances of financial transactions can be intimidating, with credit card factoring being a prime example. In this article, we’ll dissect the concept of credit card factoring, delve into why it’s illegal, explore common examples, and examine the potential consequences of engaging in such activities.

Credit and Collections 52

Credit and Collections Credit Scoring Transactions Deductions 52

Gaviti

OCTOBER 23, 2023

One possibility is by running a business credit score and report on new customers. What is a Business Credit Score and Report? A business credit score is a rating whose goal is to demonstrate how financially responsible a business is as well as its potential for profitability.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

Sky Business Credit

MAY 2, 2023

May 1, 2023 – Sky Business Credit announced the promotion of Beverly Milici to Vice President of Operations. She will continue to ensure clients are receiving the highest possible level of credit and collections service. In this role, she assisted the President in underwriting and credit approval of new business.

Credit and Collections 98

Credit and Collections Transactions 98

Gaviti

MARCH 21, 2023

If this sounds like your company, then the best solution is to accelerate your accounts receivable collection so you can turn sales into capital you can actually use to maintain your business. There are many strategies to streamline invoice collection to get the money owed to your company quicker.

Invoice to Cash 52

Invoice to Cash Credit and Collections Alternative Payment Methods Credit Card Payments 52

Emagia

AUGUST 1, 2023

One doubt that always pops up regarding is if accounts receivable is a debit or credit. The amount represents a financial obligation owed to the business, reflecting the outstanding balance yet to be collected. This article will detail the fundamental principles underlying the proper classification of accounts receivable.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections Cash Applicator Credit Representative 52

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 98

Cash Applicator Credit Application Collector Credit and Collections 98

Your Virtual Credit Manager

APRIL 25, 2023

Inevitably you will need to initiate collection activities; in other words, start requesting past due customers pay what they owe your firm for goods and/or services provided on credit terms. What are the other tasks that will not get done or be delayed because of the time you devote to collections?

Credit and Collections 130

Credit and Collections Past Due Invoices Collector DSO 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

DECEMBER 19, 2023

Hopefully, that is why you are reading Your Virtual Credit Manager. If, however, there are unpaid invoices that have been allowed to go beyond the 90 day mark, you have a serious collection problem. In most cases (90 percent or more), we find the customer has a valid claim and deserves a credit.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Abrigo

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. Has your credit union started your annual process for updating your anti-money laundering/countering the financing of terrorism (AML/CFT) risk assessment?

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Eastern Credit Management Services

JUNE 13, 2023

In the challenging world of debt recovery, writing effective collection letters and demand notices is a paramount skill that can significantly impact your chances of successful debt resolution. Outline Consequences of Non-Payment: Clearly outline the consequences of continued non-payment in your collection letters and demand notices.

Credit and Collections 52

Credit and Collections Debt Collections Credit Management Transactions 52

Lockstep

JULY 27, 2022

In today’s economy, it is essential to be able to allocate credit where it is needed most. based B2B sales are paid using customer credit, knowing how much credit to extend and to which customers is of dire importance. Issuing too much credit to the wrong customers can lead to disastrous outcomes. .

Credit Scoring 86

Credit Scoring Accounts Receivable (AR) Bad Debt AR Automation 86

SAP Credit Management

AUGUST 28, 2023

Interest Calculation Tax authorities may have to calculate and post credit/debit interests on payables/receivables. The Penalty and Interest Simulation Report (transaction code FPI7) is pretty useful: this report simulates the interest and penalty per document on a business partner.

Credit and Collections 138

Credit and Collections Transactions 138

Abrigo

MAY 30, 2023

Timelines for small business loan data collection and reporting Deadlines for complying with the new CFPB section 1071 rule requirements for financial institutions to collect data on small business loan activities. Takeaway 3 The earliest deadline requires financial institutions to begin collecting data Oct.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

TreviPay

MARCH 13, 2023

In the business-to-business (B2B) world , order and transaction values can be large. Thankfully, there are things a business can do to mitigate the impact – including debit notes and credit notes. Thankfully, there are things a business can do to mitigate the impact – including debit notes and credit notes.

Credit and Collections 52

Credit and Collections Transactions Order to Cash 52

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. AI can also improve security by detecting fraudulent transactions in real-time and reducing false positives to enhance user trust. The short version is: yes.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections B2B Credit 52

SAP Credit Management

SEPTEMBER 1, 2023

As the heart of business processes and information, having the right ERP software is essential to collecting, measuring, and sharing sustainability data and KPIs. Banks are increasingly committed to net-zero lending practices and, as a result, they are factoring sustainability into credit risk assessments for all their lending.

Credit and Collections 167

Credit and Collections Credit Risk Transactions 167

Due

JANUARY 3, 2023

You might get asked similar questions by lenders when you apply for loans and credit cards. To find out, they might check your credit report. What are credit reports, why are they important and what is in them? What is a Credit Report and Why is it Important? Credit Reports vs. Credit Scores.

Credit Scoring 119

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 119