Your Virtual Credit Manager

JANUARY 17, 2023

Share A Case in Point A parts distributor was having difficulty with collections and high dispute volumes. it just might help them pay you sooner! it just might help them pay you sooner!

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

Your Virtual Credit Manager

MAY 16, 2023

By avoiding the following common traps, or myths if you will, businesses can minimize the risk of non-payment or default and make better informed decisions about extending credit to other businesses that will boost sales and profits. High risk customers shouldn’t be granted credit. That’s the bottom line.

Bad Debt 100

Bad Debt Credit and Collections Default High-Risk Accounts 100

Your Virtual Credit Manager

NOVEMBER 14, 2023

Purchasing Credit Insurance, however, will only reduce the risk problem if: The policy covers the financially weak, higher risk customers. Credit Insurance policies often exclude individual, high risk accounts. Insurers want to be paid for the risk they bear. The policy cost is acceptable.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

APRIL 11, 2023

Poor Credit Controls: Poor credit control practices can result in providing goods or services to high-risk accounts that are likely to pay beyond terms or even default on payments. If they don’t pass muster for open credit terms, there are still other options for securing or insuring payment.

Bad Debt 130

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

Your Virtual Credit Manager

JUNE 27, 2023

Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts. This persona may exhibit characteristics such as a history of defaults, financial instability, industry volatility, or a poor credit rating. it just might help them pay you sooner!

Collector 26

Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26

Know-It Global

JUNE 20, 2023

Similarly, suppliers can evaluate the risk of late payments or default, allowing them to set appropriate credit terms. This will allow you to identify high-risk accounts and take proactive measures to mitigate potential losses.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Your Virtual Credit Manager

NOVEMBER 1, 2022

If you are just getting started working on a collections backlog, we recommend first going after customers with higher probabilities of default, followed by the customers with large amounts past due (to provide cash flow for your business).

Past Due Invoices 130

Past Due Invoices Credit and Collections Bad Debt Accounts Receivable (AR) 130