Sat.May 13, 2023 - Fri.May 19, 2023

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9 Trade Credit Traps to Avoid

Your Virtual Credit Manager

When a commercial account wants to buy your product, chances are they will want credit terms. Business credit, also known as trade credit, facilitates the flow of goods and services between business trading partners. In one sense, it is a short term loan, but unlike bank lending and other forms of commercial credit, the loan isn’t the product.

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Scottish Startup Know-it Reaches National Audiences With New STV Ad Campaign

Know-It Global

Glasgow-based fintech Know-it has launched a new national TV ad campaign in partnership with STV. Having won the prestigious Startup Summit award, Know-it were awarded airtime on STV to reach a national audience on primetime television. Know-it is a cloud-based credit management platform that streamlines the complete credit control process, enabling users to credit check and monitor, chase for payment, collect overdue unpaid invoices and more, working with the likes of Creditsafe, Companies Hous

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Interview with Jarod Coffman (Coffman Construction)

NorthOne

Recently, we interviewed Jarod Coffman, the 21-year-old YouTube creator, Instagram construction influencer, and lead framer of Coffman Construction. Jarod has 40,000 followers between his YouTube and Instagram accounts where he shares framing and carpentry tips as well as his latest home projects. In this interview, Jarod shares tips for bidding on projects effectively, advice for young people entering the trades, his motivation for sharing construction information through engaging videos, and h

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How Does Debt Settlement Work? Pros & Cons

Credit Absolute

Debt settlement, which is also referred to as debt negotiation or debt arbitration, is a process whereby a creditor agrees to reduce the total amount of debt owed and in return, the borrower pays the rest in a lump sum. This typically involves the creditor waiving interest and fees on the debt. Debt settlement can […] The post How Does Debt Settlement Work?

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Services That Your Company Can Provide In Inclement Weather

Skogen Capital Lending

When snow or rain hits, many companies struggle to reach their customers and maintain business. You can assist these organizations through the one that you own while increasing your profits. Here are a few services that you provide in inclement weather. Food Delivery As a business owner, you may own a fleet of vehicles to service your clients. If you are looking for a way to bring a little extra money into your organization, partner with a local restaurant to provide delivery when it becomes sli

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Team Know-it Hit London For Accountex

Know-It Global

Team Know-it have just returned from an amazing trip down to Accountex London! We had a great time talking to new and existing clients whilst showing new audiences how Know-it helps businesses mitigate credit risk, reduce debtor days and boost cashflow. Are you an accountant? Know-it helps accountants and bookkeepers better serve their clients by allowing them to automate their complete credit control process.

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Slow is Smooth, Smooth is Fast

StackSource

CEO Tim Milazzo explores the mantra "Slow is smooth, smooth is fast" and its application in commercial real estate dealmaking, highlighting the importance of precision, preparation, and efficient processes for achieving accelerated outcomes.

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How wholesale businesses can stop getting invoices paid late

Chaser

As the late payment crisis deepens, wholesale business owners have struggled to pay their invoices on time. Late payments can wreak havoc on a company's cash flow and put them in danger of being unable to pay their suppliers or make payroll.

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Esker recognized as a Leader in the Gartner® 2023 Magic Quadrant™ for Integrated Invoice-to-Cash applications

The Esker Blog

At Esker, we already felt honored to be named a Challenger in 2022’s first-ever Magic Quadrant for Integrated Invoice-to-Cash solutions. Now, we are all the more thrilled to make it into the Leader* quadrant for 2023! This puts us (again) in the unique position of being recognized in both the I2C and P2P Magic Quadrants. Since we’d like to continue on this path, we’re spending a good amount of time reflecting on what works and what it is that our customers like about us.

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Great expectations: Loan review system regulations and how to adhere to them

Abrigo

Does your loan review system meet regulatory expectations? Read more for specific objectives every loan review system should meet. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review officers must figure out how to adhere to the FDIC’s guidance on loan review and credit risk review systems.

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When do Credit Card Payments Report to Credit Bureaus?

The Red Spectrum

When it comes to managing your finances and building a healthy credit history, understanding how credit card payments affect your credit reports is essential. Credit reports play a crucial role in determining your creditworthiness and can significantly impact your ability to obtain loans, secure favorable interest rates, or even rent an apartment. This blog will explore when credit card payments report to credit bureaus , the factors influencing reporting timelines, and the importance of timely

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Accountex 2023 | Highlights, photos, debtor daze and more

Chaser

Accountex London 2023, the leading event for finance professionals, accountants, and bookkeepers, took place last week at the London ExCeL. Over 10,000 attendees came from all over Europe to network, gain insights, and explore cutting-edge solutions in the accounting and finance industry. Chaser exhibited at the event alongside 250+ other global brands , and Accountex hosted 180 CPD-accredited talks and seminars that were designed to arm the attendees with all the knowledge and inspiration neede

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ADC Attends the 2023 WPO Entrepreneurial Excellence Forum

Accounting Department

Last week, AccountingDepartment.com Business Development Representatives, Shawn Marcum, and Luke Backus attended the 2023 Women President's Organization Entrepreneurial Excellence Forum in Las Vegas, NV.

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Developing loan reviewer training: What personnel need for success

Abrigo

Loan reviewer training and development What might a loan review curriculum look like and how can your financial institution develop good loan reviewers? You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Loan review departments often lack funds for training and education, but a shortage of experienced loan reviewers is a challenge for many banks.

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How The Credit Card Rewards Game Will Change In 2023

The Red Spectrum

Building company credit is crucial for running a small business. Utilizing credit cards made for small businesses is one approach to building business credit. Credit card rewards programs that are frequently included with these cards can help businesses save money on purchases and earn rewarding incentives. However, credit card rewards programs are not static and have undergone significant changes in recent years.

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Jim Rohn’s Top Piece of Financial Advice You Can Use Right Now

Due

What is the key to financial independence ? Well, it’s not the amount of money you have. It’s how you spend your money. The reason? In order to create and maintain wealth, you should live below your means, as well as avoid debt. It is well known among millionaires that spending less than you earn opens the door to more opportunities. Your money can be invested, saved, or donated to a charity of your choice.

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Dynamic Forecasting Keeps Business Owners in the Know

Accounting Department

Experienced business leaders know that accurately predicting future financial outcomes is a highly complex challenge. It’s a process not to be left only to logic that is based on reviews of combined financial reports from the past.

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Considering the scope and depth of loan review roles and processes

Abrigo

How to evaluate loan review processes based on their scope and depth A closer look at loan review can help your institution determine what steps to take to please regulators and streamline processes. You might also like this webinar, "Return to basics: Asking the right credit risk questions." WATCH Takeaway 1 Scope and depth are useful evaluation benchmarks for your financial institution's loan review process.

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Using Business Loan to Expand Operations For Your Business

The Red Spectrum

Are you a small business owner with big dreams of expanding your operations? Look no further! In this blog post, we’ll explore how a small business loan can be a powerful tool to fuel your growth and take your business to new heights. From monitoring your business to building business credit, we’ll cover all the essential aspects of utilizing a business loan for expansion.

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How Automation Helps with Cash Flow

Enterprise Recovery

With the "unprecedented" events of the past few years, businesses are looking to become more efficient in all areas of their organizations. An area that is often overlooked due to its manual processes is accounts receivable. Even though payments by check have declined since 2019, thirty percent of B2B clients are still writing checks and sending them in the mail.

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Create a Retirement Plan in 15 Minutes (Free Template)

Due

According to a 2021 survey conducted by the Federal Reserve, approximately 36% of non-retired adults in the United States felt that their retirement savings were on track, while 45% felt they were somewhat or far behind. If you don’t want to enlist in the latter group, plan your retirement strategically. However, you may find the process procrastinating, and that’s where this 15-minute retirement plan template comes in.

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Things You Need to Start a New Business

Eagle Business Credit

Start-ups are a hot topic these days, with many small players having rocketed to the top of the marketplace in the past couple of decades. Not all businesses get off the ground. If cash flow doesn’t stop your new business dreams, then lack of planning will. Take the time to prepare a business plan and be sure to have your ducks in a row from financing to marketing with hiring the right people in between.

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Clueless underwriting (part 1)

Cpcmcredit Blog

This could be a very long series. I heard the latest example from a representative who works for a very decent lender with whom I have a number off contented clients. This example wasn’t my client but the response to this prospect was ridiculous Heavy demands on guarantees were demanded from the client because the lender had recently had a bad debt in the “same sector” What sort of logic is that?

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Essential Guide to Small Business Loans

The Red Spectrum

Small businesses are the backbone of any economy, driving innovation, creating employment opportunities, and contributing to economic growth. However, starting or expanding a small business often requires a significant amount of capital, which may be limited. Small business loans can be a lifeline in such cases, providing the necessary funds to fuel growth and meet various business needs.

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8 Legitimate Retirement Fears & How to Overcome Your Real Money Fear

Due

You are not alone if you habitually fear running out of funds during your retirement years. As much as 66% of US citizens are concerned about their finances running dry as they near their retirement age. Monetary fears during your retirement are genuine. After all, everyone craves a financially secure future after working for decades! Around 50% of Americans fear unexpected health expenses during their retirement, while 21% are worried about early retirement.

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How Are Customer Relationships Affected By Invoice Factoring?

Eagle Business Credit

Many growing businesses considering accounts receivable funding have concerns about how a factoring company will affect their customer relationships. Will they think my business is struggling? Will they be hunted down by my financier for late payment? Will they be uncomfortable not paying my business directly? We’ve heard all of these questions, but we find that our clients actually see healthier relationships with their customers while they use our factoring services.

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Do we need EU workers? Of course we do

Cpcmcredit Blog

This blog attempts to avoid politics but on occasions government policy overlaps into the concerns of SMEs to such an extent that it simply cannot be avoided. The latest issue is migration Its probably best that I will refrain from saying what I think of Suella Braverman but her suggestion that businesses can simply “train up” required workers to fill gaps is naive and simplistic in the extreme.

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Legislative Coverage: NYAG Proposes Law Targeting Conflicts of Interest in Crypto Industry; Bill Would Require Independent Audits of Crypto Firms

Reorg Blog

The post Legislative Coverage: NYAG Proposes Law Targeting Conflicts of Interest in Crypto Industry; Bill Would Require Independent Audits of Crypto Firms appeared first on Reorg.

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How Much Did the Fed Raise Interest Rates in 2022? 

Due

Last month, the Federal Reserve increased interest rates again , the ninth consecutive increase since the Fed began raising rates in March 2022. While the full effects of the latest rate hike remain to be seen, analysts debate whether the Fed will raise rates again at its next meeting in May. This is the big question on the minds of many Americans: Will increased interest rates push the economy into a recession?

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Small Business Cash Flow

Eagle Business Credit

If you are concerned about your cash flow, you aren’t the only one. 69% of small business owners have cash flow concerns that keep them up at night according to The State of Small Business Cash Flow by Intuit that surveyed 3,000 small business owners about their cash flow. Cash is king. Cash flow is the lifeblood of your business. If you run your own business, you are probably sick of hearing these phrases.

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Recession-Proofing Your Small Business – Is now the time?

Inc. Authority

While it is still unclear whether we will encounter a recession in the coming year, more than 90 percent of today’s small business owners are worried about the possibility of a recession, according to a recent survey by Goldman Sachs. … Continue reading → The post Recession-Proofing Your Small Business – Is now the time? appeared first on Inc Authority.