Onguard
OCTOBER 19, 2023
Credit management has undergone a significant transformation in recent years. Whereas credit management was previously seen as the back office’s grab-can, today it is an essential part of an organisation’s financial strategy. In the process, the challenges posed by COVID-19, persistent inflation and rising interest rates also require a different, more proactive and sophisticated approach.
Your Virtual Credit Manager
OCTOBER 17, 2023
Extending credit is the financial backbone of Business-to-Business (B2B) commerce. If you require payment in advance or upon delivery of goods or services, you are unlikely to find many customers willing to trade on those terms causing your business to not generate enough revenue to survive. (Photo by Jandira Sonnendeck on Unsplash ) In most cases, you therefore have to extend credit to your B2B customers, which entails the following risks: Not being paid anything Being paid an amount less than
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Due
OCTOBER 18, 2023
Once an eagerly awaited milestone, retirement is currently undergoing a transformative reevaluation. Traditionally seen as a well-deserved period of rest and relaxation, the dream of early retirement is now being challenged by a new perspective – that of embracing lifelong work. This paradigm shift reflects the changing nature of work, increased life expectancy, and the desire for personal fulfillment.
Chaser
OCTOBER 19, 2023
Poor cash flow caused by late payments is one of the most common problems faced by businesses. It can affect the growth, stability, and even survival of a company. Unfortunately, late payments are becoming increasingly common in today's business landscape.
Abrigo
OCTOBER 19, 2023
Abrigo has been awarded a G2 “Leader” badge award for its loan origination and anti-money laundering solutions. Along with these recognitions, Abrigo won “Best Support” and “Easiest to Do Business With” badges for its loan origination platform. What is a G2 award, and why is Abrigo so proud of this win? G2 is the world’s largest and most trusted tech marketplace where users can discover, review, and manage software.
SMB Commercial Lending
OCTOBER 17, 2023
2023 Update: SBA Loans for Business Expansion In a bid to stimulate business growth, the #SmallBusinessAdministration (SBA) has officially affirmed that no equity infusion or #SellerFinancing is mandatory when purchasing a company that shares the same NAICS code as the buyer's current business in the same geographical area. The recent revisions to the SBA 7(a) loan program herald promising opportunities for both buyers and sellers.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Chaser
OCTOBER 16, 2023
At the risk of sounding like a broken record ( we've covered this a few times ), the key to staying on top of your accounts receivables, implementing good credit control, and getting paid on time, is good administration. We know it's not flashy or exciting, but making sure you've got your admin right will help you get paid faster, avoid bad debt, allow you to accurately predict your cash flow, and even improve your relationship with your customers.
Abrigo
OCTOBER 19, 2023
Ideas for educating and promoting cybersecurity in October Cybersecurity Awareness Month is an opportunity for banks and credit unions to promote online safety and take steps to reduce cyber risks. You might also like this whitepaper: "Protecting banking customers starts with you." DOWNLOAD Takeaway 1 Cybersecurity Awareness Month, in its 20th year, highlights the shared responsibility of everyone to safeguard their digital data and assets.
Due
OCTOBER 18, 2023
A recent study by the National Institute on Retirement Security paints a worrying picture for Generation X, particularly those born between 1965 and 1980, as they move closer towards retirement. The study suggests that Gen X is less prepared for retirement than both Baby Boomers and millennials, with many individuals falling significantly short in their retirement savings.
Accounting Department
OCTOBER 18, 2023
Enterprise resource planning (ERP) systems are instrumental in helping businesses achieve optimal efficiency. By integrating various essential business functions into a unified platform, ERP systems provide a real-time overview of the business while supporting day-to-day operations and workflows.
Chaser
OCTOBER 16, 2023
We've all had that one friend who borrows money and assures us that he's going to pay as soon as the cash from his car comes through. Three years later… While a bad debt is incredibly frustrating in our personal lives, overdue payments in business can be crippling. These outstanding amounts in business are known as Accounts Receivable. They can quickly get out of hand and impact your financial health if not managed correctly.
Abrigo
OCTOBER 16, 2023
Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.
Credit Management Group UK
OCTOBER 18, 2023
We hope this blog finds you well. If there is anything you would like to see more of in our round ups from more Credit Management Hints & Tips to help on E-learning webinars let us know: COMMERCIAL CREDIT MANAGEMENT Business leaders wary of borrowing as interest rates rise Economy predicted to avoid recession in 2023 SMEs unable to access financing amid economic uncertainty Small firms relieved to see modest GDP rise REGULATION & COMPLIANCE Economy predicted to avoid recession in 2023 KP
Accounting Department
OCTOBER 19, 2023
No business model works without effective financial management. Every organization must be able to allocate its resources and make informed decisions. Financial Planning and Analysis (FP&A) has become increasingly important in driving business success. It is vital for long-term growth. FP&A is a data-driven approach to financial management, which allows organizations to make informed decisions to improve their profitability.
Eagle Business Credit
OCTOBER 16, 2023
Starting a small business can be an exciting venture filled with dreams of success and profitability. While many new entrepreneurs are keenly focused on generating profits, they often overlook a critical factor that plays a pivotal role in achieving that goal: working capital. In this article, we will explore the essential relationship between working capital and profit, breaking down complex financial concepts into digestible bites for small business owners.
Abrigo
OCTOBER 17, 2023
Why change management is vital for banks and credit unions Regulators promote change management to manage risk, but banks and credit unions can also achieve important benefits when they manage change. You might also like this 7-step guide to a successful software implementation. DOWNLOAD Takeaway 1 Financial institutions should review change management processes, given the ever-evolving landscape and examiners' attention.
Due
OCTOBER 17, 2023
In order to predict the possible emergence of an upcoming bull market, it is essential to first analyze the economic factors that were prevalent in 1995. According to renowned financial expert Tony Dwyer, this period was marked by low inflation rates, substantial productivity, and robust corporate earnings, ultimately leading to the establishment of a strong bull market.
Reorg Blog
OCTOBER 19, 2023
The post Court Opinion Review: You-Know-Who Steps Down, Delaware’s Race From the Bottom Continues, DSG Adrift, Yellow Suit Stays in Kansas appeared first on Reorg.
TreviPay
OCTOBER 18, 2023
I recently sat down with Michael Noble, VP of Strategic Partners for TreviPay , to learn more about the Financial Partner Gateway and how it will be a game-changer for banks. Michael has extensive experience helping businesses with A/R automation. In addition to being the former CEO of Apruve, his professional journey includes several startups including Limewire, Xanboo and Nitch.
Abrigo
OCTOBER 16, 2023
Advice from a former credit union BSA Officer A former compliance officer offers considerations for creating a successful and compliant AML program at your credit union. You might also like this resource: "Building a strong future: Succession planning strategies for you AML program." Watch webinar Takeaway 1 Recent FinCEN consent orders show that weak compliance programs are coming under more scrutiny, especially at gap institutions.
Due
OCTOBER 17, 2023
A 401K is an employer-sponsored retirement savings plan that employees can contribute to pre-tax, thus reducing their annual tax liability. Some employers also contribute to the account as a benefit to the employee. A 401K is a valuable part of a long-term financial and retirement plan that all employees should take advantage of. But you may be in a financial situation and considering cashing out your 401K.
Reorg Blog
OCTOBER 19, 2023
The post CASE SUMMARY: Rite Aid Aims to ‘Significantly’ Right-Size Balance Sheet, Rationalize Lease Portfolio Through Dual-Track Comprehensive Restructuring Under RSA With Second Lien Noteholders; March 2024 Emergence Targeted appeared first on Reorg.
blue dot counseling
OCTOBER 16, 2023
If you are writing a budget or a business plan and you want to achieve a profit target – make profit your first cost! The post Profit is your first cost appeared first on Blue Dot Consulting.
Biz2X
OCTOBER 20, 2023
Reading Time: 3 minutes Creating a winning digital lending experience requires a deep, customer-centric understanding of the diverse needs of the businesses seeking financing. Whether dealing with a gas station, architectural firm, law practice, or IT company, distinct patterns and cash flow dynamics characterize each enterprise. For instance, gas stations witness a continuous influx of customers, resulting in frequent cash flow, while architectural firms may experience sporadic income tied to s
Due
OCTOBER 16, 2023
Every month, Americans spend between $150 and $200 on gas. There are many factors that contribute to this, including the state, lifestyle , and driving habits. Gas still accounts for almost 2.24% of American families’ monthly income, or about $5,000 per year. However, those figures are higher. As of this writing, the price of oil hit over $93 a barrel — the highest price of the year.
Reorg Blog
OCTOBER 18, 2023
German automotive supplier Standard Profil, or SP, is currently enjoying a favorable input cost environment as illustrated by the 24% fall in synthetic rubber prices from their peak in 2022. This, coupled with continued robust organic growth and a €10 million cash injection from its shareholder, has resulted in an uptick of its €275 million senior secured notes due 2026 to the high 70s from the low 60s in May.
blue dot counseling
OCTOBER 20, 2023
If your business can improve profitability the rewards include more money in the bank, a higher value for your business as well as greater peace of mind and the feeling of a job well done. Making lower profits than you think you should leads to the opposite outcomes and a lot less fun. So, what […] The post Improve profitability – in five simple steps appeared first on Blue Dot Consulting.
Biz2X
OCTOBER 20, 2023
Reading Time: 3 minutes Creating a winning digital lending experience requires a deep, customer-centric understanding of the diverse needs of the businesses seeking financing. Whether dealing with a gas station, architectural firm, law practice, or IT company, distinct patterns and cash flow dynamics characterize each enterprise. For instance, gas stations witness a continuous influx of customers, resulting in frequent cash flow, while architectural firms may experience sporadic income tied to s
Due
OCTOBER 16, 2023
The investment landscape in the next decade is expected to undergo significant changes compared to the past 20 years, according to wealth managers and investment advisors. Swiss private bank Syz’s CIO, Charles-Henry Monchau, warns against basing long-term decisions solely on past performance as factors like shifting demographics, global geopolitical changes, and technological advancements will play a critical role in upcoming asset allocation decisions.
Reorg Blog
OCTOBER 18, 2023
Lippo Malls Indonesia Retail Trust has proposed amendment and restatement exercises, or A&Rs, for three near-term bank loans which would extend the maturity of the loans by three years.
blue dot counseling
OCTOBER 19, 2023
This company has annual sales in the millions of pounds and it reminded me that there are many businesses in the UK of all shapes and sizes that do not have adequate financial information. The post How good are your management accounts? appeared first on Blue Dot Consulting.
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