Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle. it just might help them pay you sooner!

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Abrigo

FEBRUARY 18, 2017

This is part of larger efforts to expand credit unions’ ability to expand their commercial lending portfolios. The purpose of the new rule is to give credit unions more flexibility to implement principle-based risk management processes and policies. Morris provides solutions to mitigate these risks: 1.

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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.

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

Your Virtual Credit Manager

JANUARY 9, 2024

Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. In fact, once you decide to sell a customer on open credit, most of the accounts receivable (AR) management tasks that follow have a reactive component.

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

SAP Credit Management

AUGUST 4, 2023

This blog shares highlights on Solution Order Management in SAP S/4HANA Cloud, public edition 2308. Watch the following video to get a glimpse of the new features: Credit Checks for Solution Orders Credit checks can be performed against the payer of solution orders. Your Voice Matters!

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Your Virtual Credit Manager

DECEMBER 26, 2023

In our case, we found our readers had an affinity for articles on identifying collection risks and the best ways of dealing with past due balances. Subscribe now Learn to Recognize These Red Flags There are two types of credit risk affiliated with selling on open credit terms.

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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. Because AR constitutes one of largest assets on your books, proactively managing accounts receivable is crucial for the financial health of your business. What do you need help doing?

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Credit Management Group UK

APRIL 21, 2024

The best way of avoiding credit control issues in your business is to ensure that you are paid in full before providing any goods or services. The majority of B2B businesses offer credit terms to their customers. Bad debt There will always be a risk when offering credit of having a bad debt.

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Your Virtual Credit Manager

JANUARY 16, 2024

If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. Late payments and even non-payment are simply inevitable.

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Your Virtual Credit Manager

DECEMBER 5, 2023

Keeping it simple is the best way to optimize your results. Likewise, customers who exhibit more Credit Risk should receive more and earlier attention than customers who have a lower Credit Risk profile. If not, you will need to note whether each account is a high, medium, or low credit risk.

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Credit and Collections Accounts Receivable (AR) Third Party Collections Credit Risk 130

Your Virtual Credit Manager

AUGUST 22, 2023

The bad news is that nearly 21 percent of last year’s startups will fail this year leaving you with a bad debt on your books if you sold to them on credit terms. The following table contains data about business formations and failure rates to illustrate these risks: 1 LendingTree analysis of U.S.

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Credit and Collections Bad Debt Credit Risk Bankruptcy 130

Your Virtual Credit Manager

DECEMBER 12, 2023

The other prominent challenge is administering the contracting, billing, and receivables management processes supporting the recurring revenue. Ideally you need to not only check the customer’s credit as part of the customer aquisition and onboarding process, but also prior to renewal. it just might help them pay you sooner!

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Days Sales Outstanding DSO Credit Management Small Businesses 130

Your Virtual Credit Manager

MARCH 13, 2023

World class receivables management involves efficiently converting orders to cash while minimizing profit dilution. Your Virtual Credit Manager works with SMBs to root out the system constraints, process inefficiencies and hidden risks that create unnecessary transactional friction, thereby diluting profitability and hindering cash flow.

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Your Virtual Credit Manager

DECEMBER 20, 2022

A sure path to business success involves selling more to your best customers. Share Controlling Credit Risk Increasing sales to high margin customers disproportionately increases total gross profit. They pay you at a discount and then assume the risk. The key is controlling your exposure to higher risk receivables.

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Deductions Credit and Collections Bad Debt Credit Risk 130

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

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Credit Risk Credit Unions Dashboards CECL 88

Your Virtual Credit Manager

MARCH 14, 2023

Myths get in the way of implementing best practices. Simply put, collection myths get in the way of doing the best job possible. Order an updated credit bureaus report. Learn More About Credit Reports 5. Commercial collections is no different. Adhering to collection myths more often than not leads to bad outcomes.

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Collector Past Due Invoices Bad Debt Credit and Collections 189

Abrigo

NOVEMBER 12, 2023

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. They also give the lender tools to monitor and manage the situation.

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Credit Risk Credit Unions Default CECL 88

Your Virtual Credit Manager

OCTOBER 17, 2023

Extending credit is the financial backbone of Business-to-Business (B2B) commerce. To avoid unacceptably large credit losses, a system of credit controls and procedures must be implemented. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

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

Your Virtual Credit Manager

JANUARY 3, 2023

Likewise, cleaning out the clutter that’s accumulated in your AR Ledger will make your AR portfolio “easier” to manage. Clutter can also cause new orders to be placed on a credit hold when it otherwise would have been automatically released. For more on the importance of periodic credit reviews, click here.

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Abrigo

FEBRUARY 16, 2024

Preparing your credit administration for the next cycle Financial institutions should consider these tips for maintaining an efficient credit process throughout the year. You might also like these on-demand webinars tackling common credit risk questions.

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Credit Risk CECL Credit Unions 78

Abrigo

FEBRUARY 6, 2024

Develop an MBL program while mitigating risk Credit unions looking for alternate paths to growth in today's rising rate environment may be primed to leverage member business lending. Register Takeaway 1 Credit unions developing or tightening up an existing MBL strategy should start by engaging the board of directors to outline goals.

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Credit Unions Credit Risk Small Businesses 88

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. Strategic Objectives: The strategic objectives of the organization, such as growth, profitability, or risk mitigation, can influence the choice of metrics.

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

Your Virtual Credit Manager

NOVEMBER 28, 2023

The impact on your workforce if you delay payroll, in today’s labor tight market, can seriously deplete your workforce not to mention the morale of those who stay — and it probably won’t be your best people who stay. In practice, it’s not so easy. More About Purchasing Credit Reports

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Cash Forecasting Credit and Collections Accounts Receivable (AR) Invoice Disputes 130

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.

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Credit Unions CECL Default Credit Risk 88

Abrigo

OCTOBER 10, 2023

Review the 2023 Loan Review Survey results with experts and get their take on emerging trends and best practices register for Webinar Takeaway 1 Effective loan review requires experienced staff, well-organized outsourcing, or a combination of the two. Learn what other banks are doing to manage.

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Credit Unions Credit Risk CECL 78

Abrigo

OCTOBER 10, 2023

Review the 2023 Loan Review Survey results with experts and get their take on emerging trends and best practices register for Webinar Takeaway 1 Effective loan review requires experienced staff, well-organized outsourcing, or a combination of the two. Learn what other banks are doing to manage.

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Credit Unions Credit Risk CECL 78

Abrigo

OCTOBER 17, 2023

Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. This article describes recent comments by financial regulators about managing change.

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Your Virtual Credit Manager

SEPTEMBER 12, 2023

Effectively managing accounts receivable (AR) is essential for a company's financial well-being. Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Offer ends 9/30/23.

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

Abrigo

DECEMBER 14, 2023

Practical tips for conducting effective strategic planning meetings Financial institutions' strategic plans should be cohesive, focused, and have buy-in from stakeholders. Learn how to tap your data to generate management insights. What has been the historical performance of your CRE portfolio risk metrics?

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Credit Risk Dashboards Credit and Collections CECL 88

RMAi Blog

FEBRUARY 9, 2023

February 9, 2023 (Sacramento, CA)  – Members of Receivables Management Association International (RMAI) elected Officers and Directors to its Board for 2023. Of the ten-member Board, eight are continuing service from the previous year. RAzOR Capital LLC, Director Amber Russo, Kino Financial Co., LLC, Director Andrew J.

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Law Firms Credit and Collections Debt Collections 130

SAP Credit Management

SEPTEMBER 1, 2023

Banks and other financial institutions reward businesses with environmental, social and governance (ESG) strategies by giving them lower interest rates and other advantages, a practice called sustainable finance. In other words, there is a direct link between cost-effective capital and being able to demonstrate sustainability practices.

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Credit and Collections Credit Risk Transactions 167

Abrigo

JANUARY 30, 2024

Takeaway 3 ThinkBIG conference sessions can help bank and credit union professionals earn required credits for continuing education. Abrigo’s ThinkBIG conferences have been a cornerstone of learning for lenders, risk professionals, and AML/CFT professionals for more than two decades. Don’t take our word for it, though.

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Credit Unions CECL Credit Risk Cybersecurity 78

Your Virtual Credit Manager

MARCH 7, 2023

On the plus side, promptly processing orders and avoiding unnecessary credit holds raises customer satisfaction. These problems include slow payments, partial payments, a dissatisfied customer as well as extra costs should the order need to be reworked, a return processed, credit issued, or re-invoiced. The result was a real disaster.

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Credit and Collections Order to Cash Bad Debt Credit Management 100

TreviPay

APRIL 18, 2024

In this video, TreviPay Managing Director of EMEA, Inez Berkof-Hollander highlights the importance of selecting the right partner to execute your global expansion strategy: Ready to conquer the global market? TreviPay, operating in 32 countries and 20 currencies, makes managing this process a breeze.

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Transactions 59

Abrigo

OCTOBER 10, 2023

How industry analysis can improve your credit risk management Understanding your customers' businesses leads to better loan pricing, structure, and risk management. You might also like this webinar series, "Tackling common credit risk questions during challenging times."

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CECL Credit Risk Credit Unions Small Businesses 78

RMAi Blog

APRIL 13, 2023

In support of Financial Capability Month, the Receivables Management Association International (RMAI) presents the following information. Credit cards and debit cards can be confusing. Credit cards allow you to use other people’s money while debit cards only let you spend your own money.

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Credit and Collections Credit Unions Deductions Credit Application 130

RMAi Blog

APRIL 14, 2023

Savings accounts generally have minimal risk since funds are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. Pay off credit cards and high interest debt. The RMAI Receivables Management Certification Program is celebrating its 10 th anniversary in 2023.

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