March, 2024

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Keeping Rural Healthcare Afloat: Midwestern Financial Struggles

RevCycle

The idyllic landscapes and tight-knit communities of the Great Lakes region mask a growing concern – the financial struggles of rural healthcare. These facilities, often the sole source of medical care for miles around, face unique challenges in maintaining financial margins and collecting patient revenue. This article explores the financial struggles of rural healthcare in the Great Lakes region and proposes solutions, including implementing flexible payment policies, up-front collections, and

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Are You Secure?

Credit Research Foundation

The sounds of market risk continue to be played through many channels of communication, and the credit professional needs to manage and mitigate these threats to protect the organization’s major asset – its accounts receivable. So, the question is: What are credit professionals doing about it? The folks from NCS Credit, Jerry Bailey and Alec Papesch, shared their view of both the current economic landscape and the finer points of utilizing UCC filings and Mechanics Liens to secure your accounts

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Embracing the unknown: understanding faith

Due

In life’s grand adventure, pivotal moments demand we step beyond the familiar confines of our comfort zones. These are the instances when we’re summoned to leap of faith. Here, faith isn’t a religious notion — but a universal principle that surpasses all limitations. Understanding the leap of faith It’s the belief in the unseen, the conviction in the unknown, and the trust in life’s process.

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Best States for Women Small Business Owners in 2024

Lendio

The number of small businesses has been increasing in the United States over the past several years. Last year, the White House announced that more than 10 million small businesses were created in 2021 and 2022. Along with its growth in the total number of businesses, the U.S. is also seeing growth in the number of women-owned businesses in the country.

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From Psychology to Programming: Navigating My Journey into the Tech Industry

Plooto

What led you to go into the tech industry? I started university studying psychology because it was my passion. In my second year, like everyone does, I took what I thought would be a really easy course: Computer Science 101. Many people might not think computer science would be an easy study, but for some reason, I thought it would be a breeze. Turns out, for me it was.

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Considering a Merchant Cash Advance? Answer This One Question

FundThrough

We’ve been noticing a trend: an increasing number of our clients have merchant cash advances (MCAs) listed on their lien reports. A recent U.S. Consumer Financial Protection Bureau report highlights this surge, revealing that MCA use more than doubled over five years, leading to heightened regulatory scrutiny. This quick-fix financial solution, often seen as an […] The post Considering a Merchant Cash Advance?

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Black Swan

Credit Research Foundation

As we embark on the new year, there’s been a renewed interest in a potential black swan event on the horizon. Historically speaking, the term gets its derivation from a Latin expression; its oldest known occurrence is from the 2nd-century Roman poet Juvenal’s characterization in his Satire VI of something being “rara avis in terris nigroque simillima cygno” (“a bird as rare upon the earth as a black swan”).

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Understanding the art of goodbyes

Due

In the vast landscape of human interaction, one experience binds us together, regardless of our cultural, linguistic, or geographical differences. It’s the act of saying goodbye. This simple yet profound ritual marks the end of an encounter, a conversation, or a relationship. This remarkable encounter we participate in regularly takes place everywhere, whether you are in a finance meeting or with your kids at the park.

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Is Your Small Business Profit Margin Good?

Lendio

Quick—when was the last time you calculated your business’s profit margin? If you answered “Last week,” excellent! And if you don’t remember, you’re probably way overdue. But were your numbers good or bad? Every company is unique, so the yardstick you measure your profit margins against isn’t the same one your neighbor uses. What’s considered a “good” range varies across industries—restaurants average a slim 6–8 %, whereas the advertising and public relations industry averages

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5 strategies to reduce future cybersecurity threats in the healthcare revenue cycle

Waystar

If you’re a leader in healthcare revenue cycle management, cybersecurity threats are a top concern — and they have to be when nearly 50 million Americans are affected by health-record data breaches annually. This was called into sharp focus recently, when a cyberattack breached the network of a health IT giant, disrupting operations for healthcare organizations across the U.S.

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Financial Challenges Faced by Non-Profits and Solutions to Help Them Succeed

Accounting Department

Non-profit organizations often stand at the frontier of social change, operating with the noblest of causes but facing challenges unique to their sector, particularly in the financial realm. With a mission-driven focus and often a limited budget, navigating the complex financial landscape of a non-profit can be daunting.

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CRE loan distress: Spot the symptoms, diagnose, and treat problem loans

Abrigo

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. Would you like other articles like this in your inbox? 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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How to Incorporate Credit Risk Management in Business

Credit Management Group UK

When budding entrepreneurs decide to be the next Mark Zuckerberg, dreaming of creating a vast business empire and billions in sales, the last thing they usually think about is the financial risk to their business and to them personally. Some may find the thought of managing financial risk daunting, but it should be straight forward. Having credit risk processes in place from the outset is ideal, but credit risk management procedures can be implemented at any stage to reduce your exposure to risk

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The Two Investments That Made Me a Multi-Millionaire (And You Can Make it Too!)

Due

I am often asked about my journey as a financial educator who aims to help people build wealth outside of the traditional system. Specifically, what were the critical decisions that led me to this point? Success doesn’t follow a one-size-fits-all formula. I can, however, say that two crucial investments led me to becoming a multimillionaire. One is pretty common, and one may surprise you.

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5 Quotes By Confucius On Running A Small Business

Lendio

Chinese culture is known for many things. Not only are they know for their business sense, but for their philosophy as well. So it’s no wonder that one of their most popular philosophers, Confucius, has a number of quotes related to running a business. Here are 5 of the best quotes by Confucius on running your small business: Perseverance “It does not matter how slowly you go so long as you do not stop.

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International Women's Day - Unveiling potential: Women's role in redefining fintech | Chaser

Chaser

On this International Women's Day, I reflect on my journey as a woman in fintech and how I have navigated this complex landscape, paving the way for future female leaders in this space. The fintech sector, mirroring the finance realm it transforms, thrives on fierce competition, disruptive innovation, and exponential expansion. Yet, amidst its glamorous facade of advanced technology and modern workplaces, lurks a pervasive issue that extends beyond this burgeoning field: gender equality.

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AccountingDepartment.com's 20th Year is Here!

Accounting Department

Two decades ago, a brilliant CPA joined forces with a daring sales expert, united in their mission to revolutionize how entrepreneurs approached their accounting needs—and thus, AccountingDepartment.com came into existence. While that may be the condensed version passed down in company lore, the reality is far more captivating and undoubtedly inspiring.

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Customer retention in banking: A proactive guide

Abrigo

Strengthening customer relationships with tangible value and personal touch Customer retention in banking can be challenging for community financial institutions. Follow this guide for strategies to stay competitive. You might also like this SMB Lending Insights report for banks and credit unions Download report Takeaway 1 Banks need to implement customer retention strategies to keep their valuable customers, not just attract new ones.

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Get Paid Faster With These Six Credit Management Tricks

Credit Management Group UK

Getting paid on time is an ideal situation for any business that offers credit to their customers; but unfortunately this is not the case for many businesses throughout the UK. Late payment can, at times, be done in all innocence but others will provide spurious excuses as to why you have not received payment, or just completely ignore you. Late payment from customers may seem like it is unavoidable, and it will be at times, but using small, simple tricks can make a massive difference.

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Oxfam’s latest research says corporate America is fueling inequality

Due

In a recently released research document, Oxfam stated that major United States companies contribute to global inequality. The charity said, “The largest US corporations have been driving the inequality crisis, actively concentrating power and money in the hands of wealthy CEOs and shareholders while limiting the power of workers, influencing our politics, avoiding taxes, and accelerating climate change.

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5 Quotes on Having a Vision for Your Company

Lendio

Creating and maintaining a vision for your company is just as important for your businesses long-term success as marketing and selling is. Vision not only motivates you and your employees, it helps you stay focused on the goal and work together toward something. Visualizing goals “If you want to reach a goal, you must ‘see the reaching’ in your own mind before you actually arrive at your goal.” – Zig Ziglar Researchers have proven that visualizing an outcome and the proce

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AI for accountants – what does it all add up to?

blue dot counseling

I'm no Luddite but I don't adopt technology for the sake of it. New tech has to have a practical use. The post AI for accountants – what does it all add up to? appeared first on Blue Dot Consulting.

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Streamlining Financial Processes: The Impact of Client Accounting Services on Efficiency

Accounting Department

Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations. This is where client accounting services come into play. In this blog post, we will explore how client accounting services (CAS) streamline financial processes for businesses, highlighting the benefits of outsourcing accounting functions to i

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Bank wire fraud – How social engineering and technology perpetrate fraud losses

Abrigo

Bank wire fraud is growing and becoming more complex. Here are a few simple things you, as a financial crime professional, can do to slow it down. Would you like other articles like this in your inbox? Takeaway 1 Bank w ire transfer fraud is increasing due to technological advances today. Takeaway 2 Transnational criminal organizations commit b ank wire transfer fraud and use a variety of techniques to make Americans their victims.

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Agreeing Commercial Credit Payment Plans

Credit Management Group UK

Agreeing payment plans with delinquent customers is a common part of credit control. We’ve included some guidelines to help you get the best outcome for your company and to make consequences of defaulting on the agreement clear to your customer. Push back on their first offer of payment, it’s unlikely their first offer is their best offer. Look at what leverage you are using to encourage they pay your debt in the shortest amount of time.

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Fisker’s financial future takes a spin after automaker pulls out of share talks

Due

Fisker, the California-based automotive electric vehicle (EV) start-up, has encountered a twist in its finance share saga. An unnamed automotive company has stepped out of major share talks, leaving the company’s future unknown. Fisker’s share talks collapse Fisker’s Newsroom released a statement last week , stating the company “is in continuing negotiations with a large automaker for a potential transaction to develop EV platforms and to manufacture in the US.

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Aryza Strengthens Legal & Insolvency Division with Key Appointments

Collenda

Aryza Strengthens Legal & Insolvency Division with Key Appointments Aryza Group, a leading provider of financial software solutions, has announced significant advancements within its Legal & Insolvency division with the appointment of three key leaders to strategic roles. Elliott Green assumes the role of Head of UK, Legal & Insolvency, taking on full responsibility for the division’s UK profit and loss management.

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Court Opinion Review: Yellow, Terraform and McDermott International

Reorg Blog

This Court Opinion Review considers the dispute over who will resolve the Yellow pension claims, objections to an unusual retainer arrangement in Terraform and some dry wit from a U.K. judge in McDermott International.

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Social Media Strategies for Business Growth in the Digital World | Beyond the Books Podcast by AccountingDepartment.com

Accounting Department

We are thrilled to announce that Episode 15 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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She’s a bulldozer when it comes to credit control and getting paid

blue dot counseling

I'm sure there are awards ceremonies for credit control and getting paid but if they don't present the Golden Bulldozer award then something is badly wrong in the world of credit management. The post She’s a bulldozer when it comes to credit control and getting paid appeared first on Blue Dot Consulting.

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Beyond the Transaction: Episode 4

TreviPay

Beyond the Transaction Ep. 4: The Power of The Network & Changing Customer Preferences in Corporate Travel Join Allen Bonde, TreviPay CMO , as he discusses airline distribution and payments with industry expert Wendy Ward from UATP. In this episode, we explore the dynamic interplay between individual traveler preferences and corporate necessities, unveiling the power of the network in shaping the future of travel.