RevCycle
JULY 31, 2024
Change is a constant force in today’s business landscape. New technologies emerge at breakneck speed, customer expectations evolve, and market forces constantly shift. While some employees thrive on constant evolution, change can also be disruptive and demotivating for others. As a leader, it falls on you to navigate this transition and keep your team engaged and enthusiastic.
RMAi Blog
JULY 30, 2024
PETALUMA, CA — Cascade Receivables Management, LLC, part of the Cascade365 Family of Companies (“Cascade”), is proud to announce that it was recently selected as one of the 2024 Best Places to Work in Collections by ACA International and the Best Companies Group. This survey program is administered by Best Companies Group, a division of BridgeTower Media, which conducts over 60 local, national, and industry “Best Places” programs each year.
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Your Virtual Credit Manager
JULY 30, 2024
Disputes and payment deductions can raise havoc with your revenue, profit and cash flow. They sap your revenue, one small drip at a time. Over time it can become “death by a thousand cuts” and cause significant profit dilution. When selling products or services you expend the full cost of production, then bill at the full price. With disputes and deductions, however, you are being asked to accept less money than you billed, not to mention any resolution costs involved trying to recov
biz2credit
JULY 18, 2024
Only 50% of small businesses survive five years of business, according to the U.S. Census Bureau. While it may be an intimidating number to face, understanding the risks small businesses face is the first step to crafting a financial strategy that effectively anticipates and manages these threats to your business. The best defense from financial … Continue reading "Top Financial Risks Facing Small Businesses and How to Manage Them" The post Top Financial Risks Facing Small Businesses and H
Know-It Global
JULY 16, 2024
We are excited to announce the appointment of Ryszard Jedrzejewski as our Chief Operating Officer! We sat down with RJ for a quick chat to learn more about him and why he wanted to be a #knowitall 1. Welcome to Know-it! Tell us a b-it about yourself I have been fortunate over my career to have worked for lots of great companies, such as Experian, National Australia Bank, GE Capital, a fintech start-up business (Castlight Financial in Glasgow), Clydesdale Bank, M&G Investments, and a manageme
Chaser
JULY 18, 2024
Overdue payments are sometimes inevitable due to delayed client payments, disputed invoices, economic downturns, or simply clients’ oversight. When these receivables linger unpaid, they can start to erode the financial stability of your company. After all, cash flow is the lifeblood of your business, and without it, every part of your operations—from payroll to expansion—faces potential jeopardy.
Plooto
JULY 11, 2024
Financial technology (fintech) makes it easier for businesses to do everything from issuing invoices and processing payments to managing expenses and making payroll. These solutions are the behind-the-scenes tools that quite literally allow businesses to send and receive money.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Your Virtual Credit Manager
JULY 23, 2024
In every accounts receivable (AR) portfolio there are customers that almost always pay on time, other customers that pay within a reasonable proximity of the due date, and those that pay consistently slow. It usually only takes about six months to figure out the segment into which a new business customer will fall. Once each customer’s payment proclivities are known, assigning appropriate monitoring and collection strategies is easily done, thereby ensuring adequate collection coverage.
biz2credit
JULY 2, 2024
The beauty salon and spa industry is a vibrant sector known for its growth potential and ability to offer essential services to a diverse clientele. Whether you’re starting a new salon or expanding an existing one, securing the right financing is crucial for growth and stability. In this article, we’ll explore some popular financing strategies … Continue reading "Strategies for Financing Your Beauty Salon and Spa" The post Strategies for Financing Your Beauty Salon and Spa published
Know-It Global
JULY 29, 2024
We are excited to announce the appointment of Jordan Renwick as our Group Chief Technical Officer. We sat down with Jordan for a quick chat to learn more about him and why he wanted to be a #knowitall Welcome to Know-it! Tell us a bit about yourself Sure, I’m a local, born and raised just outside Glasgow. I’ve spent the last decade in and around technology working for a bunch of companies along the way.
Accounting Department
JULY 30, 2024
In the modern business landscape, data is power. For business owners, entrepreneurs, and CEOs, QuickBooks stands as a beacon, illuminating the path with insightful dashboards that transform raw financial data into strategic insights. The mere mention of 'dashboard' may conjure images of speedometers and gauges, which is apt considering QuickBooks dashboards are designed to keep your finger on the pulse of your business functions.
CreditStrong for Business
JULY 25, 2024
Despite being a below-average credit score, prospective home buyers with 600 credit scores may qualify for home mortgage loans. Borrowers with a lower credit score may not qualify for conventional loans, but loan options exist for people with a steady income and a reasonable credit history. Credit scores range from 300 to 850. The typical minimum credit score requirement is roughly 580 through FHA mortgage lenders and other various home loan programs.
Gaviti
JULY 24, 2024
Running a business is hard enough. Don’t let invoicing and processing slow you down. Creating efficient invoice processing procedures ensures you make the most of your time and money. So, where do you start? Understanding the top invoice processing best practices and the importance of automation will create a solid foundation for your business. What Is an Invoice Processing Cycle?
Your Virtual Credit Manager
JULY 9, 2024
When you agree to sell to a business customer on open credit terms, common practice involves setting a credit limit aligned to the payment terms you are granting. In preparation for this decision, you should have previously made the new customer sign a credit agreement as part of their application for open credit terms and thereby confirming their acceptance of your terms of sale.
biz2credit
JULY 16, 2024
Securing restaurant financing can be particularly challenging during tough economic times when traditional funding sources tighten their criteria. This article offers practical advice for restaurant owners looking to obtain the necessary capital to start, sustain, or grow their businesses despite an uncertain economic climate. We’ll highlight alternative financing options, strategies for presenting a compelling business … Continue reading "Tips for Securing Restaurant Financing in Tough Ec
Due
JULY 15, 2024
A Texas pharmaceutical marketer has been sentenced and will now pay the United States government $59 million in reparations. The sentence comes after a lengthy court battle that put Californian Quintan Cockerell in the sights of government legal professionals. Texas pharmaceutical marketer sees jail time Cockerell was found guilty of manufacturing the most expensive medications that doctors could prescribe as custom orders.
Chaser
JULY 23, 2024
Whether you're a business owner overseeing multiple transactions or a consumer keeping track of monthly expenses, understanding the mechanics of a billing cycle is crucial. A billing cycle is the interval between the last statement date and the next. This seemingly simple process plays a role in maintaining financial clarity and ensuring predictable cash flow.
Waystar
JULY 24, 2024
Healthcare organizations are bracing for another wave of uncertainty resulting from the ripple effects of February’s nationwide cyberattack. As individual data breach notifications begin to go out, patients of affected health organizations will likely have new questions and concerns. If hackers begin using the stolen data for fraudulent activity, patients could end up with exhausted benefits or surprise bills for care they never received.
Gaviti
JULY 25, 2024
Artificial intelligence is now an integral part of what makes accounts receivable software work and cash application solutions in particular. A/R departments often turn to cash application software at a point when they see a need to replace manual processes with automated ones and realize they are using their talent to complete mundane tasks or spending valuable resources on identifying manual errors that result in payment processing delays.
Your Virtual Credit Manager
JULY 2, 2024
Debtors come in all shapes and sizes. In a business-to-business (B2B) environment, most debtors will be easy to work with. That’s because the people you will be dealing with are professionals like you. Their job is to control disbursements for their company just as your job involves maximizing cash inflows for your employer. A discussion between professionals typically results in a mutually satisfactory resolution.
Accounting Department
JULY 23, 2024
In today's competitive business landscape, staying ahead of the competition requires more than just a great product or service. Entrepreneurs, small business owners, and financial analysts must focus on tracking key financial metrics to ensure their company's growth and financial health.
Due
JULY 13, 2024
Dollar General, the nationwide store, has agreed to an Occupational Safety and Health Administration (OSHA) settlement for $12 million. The Department of Labour division has been involved with the renowned U.S. store as they questioned the current health and safety standards, raising concerns about overall workplace safety. As part of the $12 million settlement, Dollar General has agreed to various changes to workplace practices and standards.
Credibly
JULY 25, 2024
Table of Contents Understanding a business line of credit Understanding business loans The differences between a business line of credit and a loan Business line of credit vs business loan: How to choose what’s right for your business Pros and cons of business lines of credit and business loans Where to get business lines of credit and loans FAQs about business lines of credit and business loans A lack of funding can block ambitious growth for small businesses.
CreditStrong for Business
JULY 29, 2024
A perfect credit score is more than just a badge of honor. It is a goal we could (and should) all aspire to. While only a small percentage of Americans have the 850 credit score, it is not a target out of reach for the average person. Is it Possible to Get an 850 Credit Score? A 2019 Experian study found that just 1.2% of credit-holding Americans had the perfect FICO® score of 850.
Gaviti
JULY 18, 2024
There are two main types of cash flow forecasting: short term and long term. Short-term forecasting predicts the company’s cash flow for under 12 months, while long-term forecasting looks beyond twelve months. Financial professionals often agonize over which one to use, but most organizations need both. What is Short-Term Cash Forecasting? Short-term forecasting looks at the cash inflows and outflows over a shorter period.
Your Virtual Credit Manager
JULY 16, 2024
Once an order has been approved and fulfilled, the primary objective in terms of Accounts Receivable (AR) management is getting paid. Some customers will always pay on time. Others will always pay beyond terms and the remainder will fall somewhere in between. Keeping these latter two groups under control requires collection efforts. (Photo by Michael Starkie on Unsplash ) At a fundamental level, collections involves contacting customers to collect the money they owe you.
Accounting Department
JULY 16, 2024
Growing a business is a multifaceted challenge that requires careful financial management. For many business owners, juggling daily operations while keeping track of finances is daunting. Enter Client Accounting Services (CAS), a crucial element for business growth that improves financial accuracy, reduces costs, and offers expert financial guidance.
Due
JULY 4, 2024
The U.S. Department of Labor (DoL) has injuncted a bar owner in Little Rock, Arkansas, for violating several federal laws. The bar in question, the Benton Tavern, and its owner, Tim Steppach, violated child labor laws, stole tender’s tips, and fired an employee who had enough of the abuse they faced each day. “Our investigation identified numerous violations by Tim’s Tavern and Tim Steppach, and we are using every enforcement tool available to protect their employees and to hold this employer fu
Chaser
JULY 16, 2024
Every business owner knows that keeping your finances in check means getting your paperwork right, especially when it comes to invoicing. As a cornerstone of your business's financial framework, invoices record transactions and ensure that cash flows smoothly between parties.
Accenture Credit Management
JULY 1, 2024
In part one of my blog, I explored how current macroeconomic events are akin to a solar storm and the Northern Lights are the manifestation of the banking industry’s reaction to uncertainty. In part two, I will discuss key areas banks should focus on to avoid becoming paralyzed by the challenges they face. Over the… The post Navigating the storm: Strategic focus areas for retail banks in uncertain times appeared first on Accenture Banking Blog.
NorthOne
JULY 24, 2024
When you’re an entrepreneur, having the right financial partner by your side is critical to your success. For small businesses in New Jersey, choosing the right bank goes beyond simply. The post The 5 Best Banks for Small Business in New Jersey (2024) appeared first on North One Blog.
Abrigo
JULY 9, 2024
What the rule means for financial institutions FinCEN aims to get AML/CFT programs to redirect their focus on the highest-risk areas, so banks and credit unions should begin preparing. Would you like other articles like this in your inbox? Takeaway 1 FinCEN’s proposed new AML/CFT program rule is intended to redirect AML/CFT programs to focus on the highest-risk areas, using innovative techniques and a goal-oriented approach.
Accounting Department
JULY 4, 2024
Growing a business can be an exhilarating experience, but it comes with its fair share of challenges. One crucial area that requires meticulous attention is accounting. Proper accounting practices are the backbone of financial stability and growth, yet many small to medium-sized businesses (SMBs) often overlook them.
Due
JULY 23, 2024
A Louisiana federal jury convicted a fraudulent medical practitioner for his part in an opioid and $5m health care fraud scheme. Adrian Dexter Talbot was at the center of the case surrounding his Medex Clinical Consultants (Medex) company. Based out of Sidell, St. Tammany Parish, Louisiana, he was responsible for a lengthy fraud scheme, according to court documents and testimonies.
Enterprise Recovery
JULY 31, 2024
Consumer and business debt are two distinct types of debt that are handled quite differently. Consumer debt is the debt individuals incur for personal expenses, such as credit card debt, student loans, or mortgages. Business debt, however, refers to the debt incurred by businesses or organizations for various purposes, such as operational expenses, investment in assets, or expansion.
Credit Management Group UK
JULY 7, 2024
Late payment and poor payment practices are not issues that are isolated to a particular industry, these issues will affect businesses across all industries throughout the UK and worldwide. However, certain industries tend to be more susceptible to specific issues that result in delayed payment. For recruitment companies, issues such as ‘behind your back’ or ‘back door’ practices (i.e. when candidates that have been introduced by a recruitment company are hired by the client without payment of t
CreditStrong for Business
JULY 29, 2024
When you apply for business funding, most lenders want you to provide your Social Security Number (SSN), undergo a credit check, and personally guarantee your debt. That might minimize your lender’s risk, but it’s less desirable for you as a borrower. To get a business loan with an EIN only, you’ll have to separate your business and personal finances and establish a healthy business credit profile.
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