March, 2023

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Avoid these Six Collection Myths

Your Virtual Credit Manager

Photo by aisvri on Unsplash As in many areas of modern society, there are mistaken beliefs, myths if you will, that form a backdrop for various activities in which we engage. For example, TV dramas have perpetuated the myth that you have to wait 24 hours before filing a missing person report. Nothing could be further from the truth. The sooner you notify the police the better the chances of finding the missing person.

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Vertican Technologies Acquires Interest in Greentree Legal Offering Its Clients Process and Serving and Litigation Support Services

RMAi Blog

Fairfield, NJ – Vertican Technologies , a global leader in the legal collection software industry, is proud to announce it has invested in Greentree Legal (GTL) in another milestone of Vertican’s plan to provide the collection industry with the tools it needs to become more efficient, compliant, and profitable. GTL’s core focus offers clients seamless management of process service, courier and skip trace services nationwide, and is led by founder and CEO Paula Ashcraft.

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Top Businesses for Women Entrepreneurs to Start in 2023

Due

The number of female entrepreneurs is growing rapidly. In fact, in 2021, 49% of new businesses were started by women , up from 28% in 2019, according to a survey by HR services company Gusto. According to the U.S. Census Bureau, in 2020, 21.4% of all U.S. businesses were owned by women , and those businesses employed 10.9 million employees. Those are staggering numbers and represent how women are advancing in an area that has long been dominated by men.

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The Top Five Credit Management Issues and How to Resolve Them

Credit Management Group UK

There is no doubt about it, credit management, in particular credit control, can be frustrating at times; this may lie in the fact that many different departments of a business will contribute towards the success of a credit management function, and therefore there is a wide scope of possibilities in identifying underperforming areas in order to make improvements.

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Solopreneur: What It Means and How to Start Your Business | Incfile

incfile

More and more people are dropping out of the traditional workforce to go it alone, start a solopreneur business and become their own boss. But before we dive into the ins and outs of starting your solopreneur business, let's first cover the basics.

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Invoice Factoring Examples: 3 Ways It Can Work

FundThrough

As small business owners and entrepreneurs ourselves, we know how important it is to thoroughly explore a way of funding your business before you try it. Which is probably how you landed on this page, looking for an invoice factoring example. Fear not! Invoice factoring is what we do… but not only that, we help […] The post Invoice Factoring Examples: 3 Ways It Can Work appeared first on FundThrough.

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RMAI Presents FinancialLiteracy.Rocks for Financial Capability Month

RMAi Blog

March 31, 2023 (Sacramento, CA)  – Receivables Management Association International (RMAI) provides a digital consumer resource for financial success: FinancialLiteracy.Rocks ( [link] ). RMAI is committed to protecting consumers and helping them reach their financial goals, manage debt, and create a stronger economic future for themselves one financial decision at a time.

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14 Ways to Revamp Your Personal Finances Even When Money is Tight

Due

Many of the opportunities available to you are dictated by your financial situation, making it difficult to overstate the importance of taking care of your personal finances. When it comes to managing money, most of us have room for improvement. Understanding your current financial situation, setting goals, and making a plan are all important steps for improving your financial situation.

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2023 Esker Survey: Sustainability in the Workplace

The Esker Blog

As More Companies Weigh Cuts to ESG Budgets, 76% of U.S. Employees Say Sustainability at the Workplace is More Important Than Ever An Esker survey of salaried workers reveals that sustainability concerns play an increasing role in where people want to work, where they want to invest, and who they want to do business with. Purpose of This Study With recession concerns and rising costs squeezing margins for many employers, 84% of CEOs in a recent KPMG survey said that they had cut or were consider

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Get To “Know” Our New Customer Success Manager

Know-It Global

We’ve just introduced a brand new member to the Know-it team! Welcome Clara Gobrecht, our new Customer Success Manager! Clara will be on hand to onboard new users and help businesses get the most out of the Know-it platform to help them mitigate credit risk, reduce debtor days and boost their cashflow. We sat down with Clara for a quick chat to learn more about her and how she’ll help support businesses in the UK. 1.

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How to Ignite Your Company’s Growth With Working Capital

Plooto

All business owners face the epic challenge of growing their business while having enough cash to fund product development, expand sales and marketing, or hire additional staff. The key to success lies in having positive working capital , which provides excess cash to invest in growth. To quote an industry maxim: “Revenue is Vanity, Profit is Sanity and Cash is King” — Alan Miltz.

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The Ultimate Guide to Employment Contracts: How to Do Them Right

incfile

As a small business owner, you might feel that employment contracts are unnecessary, especially if you’re just working with a contractor or remote assistant. However, there are certain legal responsibilities beyond payroll taxes that come along when you hire someone (albeit for a short period of time) to help you. If you’re working with or planning to hire full-time or part-time employees without the appropriate business contracts , then you’re opening your business up to legal red tape and heft

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The Credit Services Association (CSA)?Elects?Tim Kirk to its Board of Directors

RMAi Blog

NORFOLK, Va. – PRA Group is pleased to announce that Tim Kirk, country operations director for the company’s UK business, has been appointed to the Credit Services Association Board of Directors. The Credit Services Association (CSA) is the national trade association in the UK for organizations active in the debt collection and purchase industry. The association confirmed five board members—two returning and three new—during its Annual General Meeting of the Association.

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How the Current Real Estate Market Can Affect Your Finances

Due

The real estate market is in an interesting state right now. Home sales are slowing because of higher interest rates, but prices in some areas have yet to drop. Overall, the median existing home sales price in January 2023 was up 1.3% from the same time last year, but home prices in expensive areas have gone down, while prices in less expensive areas have gone up.

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Pre-visit planning 101: Boost your patient financial experience (in 3 steps)

Waystar

This is the third post in a new Waystar blog series: 7 steps to sharpen your healthcare revenue cycle. Can’t wait for a new blog each week? Download the eBook to learn 7 steps for maximizing your healthcare RCM software. Before looking at the patient financial experience, it’s key to understand one fact: patient financial responsibility has increased significantly in the past few years, and it’s only projected to grow more.

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Epic Billing Made Easy: Why SSI is the Claims and Clearinghouse Solution of Choice for Hospitals and Health Systems

SSI Healthcare Rev Cycle Solutions

Epic Billing Made Easy: Why SSI is the Claims and Clearinghouse Solution of Choice for Hospitals and Health Systems [Live Webinar] LIVE WEBINAR: March 29, 2023 at 10 am CT As a trusted industry leader with 900 Epic clients , SSI makes Epic billing as easy as possible, so you don’t ever have to leave your Epic environment ! If you’re an Epic client looking for a reliable and hassle-free claims and clearinghouse partner for your hospital or health system, look no further than SSI.

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Why Effective Working Capital Management Can Improve Your Entire Business

Plooto

While there is no magic wand that will guarantee the financial success and stability of your business forever, effective working capital management (WCM) ensures you have enough cash to make regular payments , cover unexpected costs, and purchase basic materials used to produce goods.

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Tips to Managing Your Online Credit Card Spending

Credit Absolute

Amazon, Home Depot, and Target, oh my! Online spending spiked considerably during the 2020 pandemic and, while it has tapered off since, is still experiencing record highs. In fact, according to SupplyGem, U.S. retail e-commerce sales for the fourth quarter of 2022 were $262.0 billion. According to NPR, 78% of shoppers shop online to avoid waiting […] The post Tips to Managing Your Online Credit Card Spending appeared first on Credit Absolute.

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RMAI Presents New DEI Guide, Implementing Diversity Equity Inclusion Best Practices

RMAi Blog

RMAI Diversity Equity Inclusion Program Baseline Recommendations March 20, 2023 (Sacramento, CA)  – RMAI introduces a new guide for the accounts receivables management industry, Implementing Diversity Equity Inclusion Best Practices: RMAI Diversity Equity Inclusion Program Baseline Recommendations. This companion guide to the January 2022 Consumer Financial Protection Bureau (CFPB) Report on Diversity and Inclusion within Financial Services identifies the foundational areas of a Diversity Equity

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4 Reasons Why Happy Employees Are Good for Your Bottom Line

Due

When running a company, it’s natural to use stock price and profits as metrics for how your business is performing. But if you’re not actively supporting your employees, you are missing out on a large piece of the puzzle. Happy employees not only makes for a more positive workplace environment, but it also benefits a company’s bottom line. As a company, you likely prioritize the happiness of your clients and customers.

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4 top tips to revamp your point-of-service collections in healthcare

Waystar

This is the fourth post in a new Waystar blog series: 7 steps to sharpen your healthcare revenue cycle. Can’t wait for a new blog each week? Download the eBook to learn 7 steps for maximizing your healthcare RCM software. Point-of-service collections in healthcare grow more complex — and more critical — each day. When patients generate up to 30% of a provider’s revenue, organizations must have a solid financial clearance process to set expectations and boost pre-service payments.

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What is a Merchant Cash Advance?

biz2credit

Many small business owners who are desperate for cash consider merchant cash advances (MCAs). For owners of startups or those with poor credit, an MCA can seem like the only financing option for getting through a cash flow crisis, purchasing inventory, addressing an urgent need for working capital, dealing with a financial emergency, or for … Continue reading "What is a Merchant Cash Advance?

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Update to our Customers on Silicon Valley Bank

Plooto

On Friday, the California Department of Financial Protection and Innovation (DFPI) closed Silicon Valley Bank ("SVB") and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver. Earlier today, the New York State Department of Financial Services (DFS) closed Signature Bank (“Signature”) and appointed the FDIC as the receiver. In addition, the Federal Reserve, FDIC, and U.S.

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Using Working Capital Loans for Franchise Financing

Skogen Capital Lending

Finding the right financing for your franchise business can be difficult because its unique operational model often requires flexible cash that many traditional loan programs are not built to provide. Most business loans from banks and other traditional lenders are given for specific asset financing goals, and they use the assets in question as collateral.

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Superlative RM Receives Tier 1 Top Agency Award From Cascade365

RMAi Blog

ELK GROVE, CA – Superlative RM , a collection agency located in Elk Grove, CA and Phoenix, AZ, is honored to announce its receipt of the 2022 Tier 1 Top Agency Award from Cascade365 — a family of companies that provide accounts receivable liquidity solutions to the consumer finance and healthcare industries. “I’m very fortunate to be able to say our team is both dedicated and extremely hard-working.

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Financial Red Flags That Might Be Hurting Your Relationship

Due

Talking about money to your partner and spouse is never an easy conversation to have, especially if you’re unsure what they think about it, or if you have limited knowledge of how to work with money. Not all of us share the same philosophy about money, how we earn and spend it, or how we invest it. Unfortunately, the friction surrounding the topic of money and finances can lead to greater relationship issues such as so-called financial infidelity, where people hide their purchases from their par

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Where to Find Small Business Grants for Women | Incfile

incfile

Who run the world? Women. According to the National Association of Women Business Owners, there are 12.3 million women-owned businesses in the United States today. Current women in business statistics show that not only are women-led small businesses on the rise, but women are also four times more inclined to don the boss hat.

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Claims Automation for Health Plans: Transformation with a Small “t”

FICO Blog

Home Blog FICO Claims Automation for Health Plans: Transformation with a Small “t” By focusing on transformation with a small “t” that addresses measurable performance gaps, health plans and administrators can use claims automation to control costs and risk FICO Admin Tue, 07/02/2019 - 02:45 by Paul Crowder expand_less Back To Top Tue, 03/14/2023 - 14:15 Some time ago, I witnessed a plea for help in a global healthcare summit from a Director of Claims Management for assistance in automating thei

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Why Operational Cash Flow Is Vital for Business Growth

Plooto

In our previous blog, we covered the fundamentals of cash flow projections and how you can use those to create long-term strategies for your business. However, there are numerous types of cash flows that provide insight into the financial health of your business. Some of these include Investing cash flow, financing cash flow, free cash flow, and operating cash flow (OCF).

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Opting into intelligent automation in healthcare? Start here.

Waystar

This is the fifth post in a new Waystar blog series: 7 steps to sharpen your healthcare revenue cycle. Can’t wait for a new blog each week? Download the eBook to learn 7 steps for maximizing your healthcare RCM software. Intelligent automation in healthcare has grown quickly in recent years. While some organizations had to put it off to address other priorities, staffing shortages driven by the Great Resignation have made that impossible.

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Slovin Partner Brad Council Installs Solar Panels In Honduras

RMAi Blog

CINCINNATI, OH – Slovin and Associates , a creditor’s rights law firm in Ohio, Kentucky, and Indiana, has a long history of community involvement. Partners Randy Slovin and Brad Council have spent decades in the community helping those in need. This past November, Mr. Council and his wife took a trip to the Olancho region of Honduras where they helped install solar panels at three different remote schools in just a week.

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