Credit Management Group UK

JUNE 16, 2024

Throughout my years in commercial credit management, I have identified several mistakes that companies make within their order to cash process; mistakes that are often very small and easily fixed; make enough of them, however, and you could find your cash flow isn’t flowing the way you would like it to. Mistakes in Commercial Credit Management: no terms and conditions of sale It is amazing how many times I have come across a company that don’t include their terms of sale with their quotes.

Credit Management 102

Credit Management Credit and Collections Order to Cash Credit Risk 102

TreviPay

SEPTEMBER 11, 2024

Unlock the Secrets to Effective B2B Credit Management Navigating credit management for B2B buyers isn’t just a task—it’s an art. TreviPay’s “Smart Start Guide: Quick Guide to Effective Credit Management for B2B Buyers” is your comprehensive resource to mastering credit management – an essential aspect of your business. With The Guide, You’ll Learn How to: Understand B2B Buyer Needs : Explore the differences between B2B and B2C markets and how these impact your approach to credit management

Credit Management 98

Credit Management B2B Credit Transactions 98

Your Virtual Credit Manager

JANUARY 2, 2024

Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. For most firms, late customer payments are a frequent occurrence and collecting them can be a difficult task. If collections are not done properly and in an adequate frequency , your AR will age, cash flow will decrease, and the risk of bad debt loss will increase.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Credit Management 130

Credit Management Group UK

APRIL 15, 2024

I have found over the years that many businesses do not have a dedicated credit control department within their business, rather this task is assigned to a role as an added responsibility; this often leads to poor collection activity due to lack of time and training to focus on effectively carrying out credit control. For many businesses it is not deemed feasible to have a credit control department which is entirely understandable, however from experience, those that are left with credit control

Credit Management 95

Credit Management Credit and Collections 95

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Bad Debt

Emagia

NOVEMBER 8, 2024

Artificial intelligence (AI) is no longer a futuristic concept—it’s here, and it’s reshaping industries across the globe. That is not to say AI’s emergence in business and finance won’t cause problems if used improperly, warned Wanda Borges, Esq., a legal expert with more than three decades of experience during a recent episode of the Emagia AI for Finance podcast.

Order to Cash 52

Order to Cash Law Firms Credit Management 52

RMAi Blog

DECEMBER 16, 2024

With new laws and regulations often passed at the federal, state, and local levels, the receivables management industry is ever-changing. For organizations like National Credit Adjusters , we spend quite a lot of time supporting RMAI, who is working with local policymakers and stakeholders on approaching fair and safe regulatory change , instead of embracing change for the sake of change.

Collector 130

Collector 130

CreditStrong for Business

OCTOBER 30, 2024

Lenders and credit card issuers use your credit score to determine your financing terms, such as your annual percentage rate and credit limit. However, that doesn’t mean every point you gain or lose changes your results. Instead, creditors generally create offers for multiple credit score ranges known as credit tiers, and tier 1 credit is the one you want to reach.

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Credit Scoring 98

Gaviti

NOVEMBER 21, 2024

Many businesses underestimate the importance of their accounts receivable (A/R) process, assuming they’ll “get paid eventually.” This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly impact the bottom line.

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Automated Cash Application Credit and Collections Cash Applicator Deductions 98

Due

OCTOBER 31, 2024

Two men have been sentenced for their part in a scheme to launder hundreds of thousands of dollars internationally. According to a Justice Department report on the case, Li Pei Tan of Georgia and Chaojie Chen, 41, a Chinese national residing in Chicago, were the pair at the heart of the international monetary fraud. It was alleged that they were the go-to people to launder tens of millions of dollars in drug proceeds on behalf of foreign drug trafficking organizations.

Transactions 97

Transactions 97

Abrigo

OCTOBER 21, 2024

How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. In this guest column, Jason Alpert, Managing Partner of Castlebar Holdings , explains how financial institutions should respond.

Credit Unions 78

Credit Unions Default Credit and Collections Credit Risk 78

Waystar

OCTOBER 29, 2024

It’s no secret that automation is the optimal way to manage prior authorization. When 39.7% of denials occur during prior authorization processes , automation is the only way to stay on top of volume and slash write-offs without adding staff. And the possibilities only grow when you layer on generative AI. ( See how Waystar and Google Cloud have automated the extraction of prior auth requirements from complex payer data sets , reducing the time to generate a procedural preauthorization repo

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Enterprise Recovery: Accounts Receivable

DECEMBER 6, 2024

B2B debt collection requires an understanding of effective strategies to mitigate delinquent accounts. This process involves implementing proactive measures so businesses can avoid issues such as unclear credit policies, inadequate communication, and poor documentation practices. Also, technology and professional debt collection services can enhance the ability to recover outstanding debts and maintain healthy financial operations.

Debt Collections 87

Debt Collections Credit and Collections 87

Your Virtual Credit Manager

NOVEMBER 25, 2024

A major cause of delinquent receivables stems from failing to meet the customer’s invoicing requirements. A government agency, big box retailer or other large customer often has invoicing requirements that may differ from the industry norm. Your average customer also has minimal requirements that must be met. Another cause of late payments, the longer you take to deliver invoices to your customers, the longer it will take them to send you the payment.

Credit and Collections 130

Credit and Collections Credit Management Default Small Businesses 130

Credit Management Group UK

DECEMBER 16, 2024

2025 could be the year for your business to improve and grow, however this relies heavily on how effectively your commercial credit management runs. Therefore, at CMG UK, we have compiled a list of New Years resolutions for your to carry forward into 2025 for the benefit of your business. Improving your commercial credit management in 2025 1. Start as you mean to go on Put a detailed strategy in place for your commercial credit management before Christmas so you can hit the ground running when y

Credit Management 87

Credit Management Credit and Collections Order to Cash Credit Risk 87

Credit Research Foundation

SEPTEMBER 27, 2024

It’s been 16 years since the last major economic downturn – the banking crisis that started in 2007 and was in full impact mode from 2008 through 2010. During that period, the U.S. economy shed over 8.7 million jobs, and the unemployment rate peaked at 10% in October 2009. Since then, we’ve weathered the COVID-19 pandemic, which many experts predicted would lead to a wave of defaults and business closures.

Days Sales Outstanding 195

Days Sales Outstanding Bad Debt DSO Default 195

RevCycle

JANUARY 17, 2024

The year is 2024, and the patient experience has never been a more vital component of RCM. Patients are no longer passive recipients of care; they’re informed consumers who demand a positive and seamless experience. To thrive in this new era, medical facilities must prioritize patient experience like never before. But where do you start? Fear not, fellow healthcare heroes!

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Dashboards 222

RMAi Blog

NOVEMBER 15, 2024

A recent issue has arisen pertaining to objections to Proof of Claims in bankruptcy cases filed in the Western District of North Carolina. RMAI recommends that our members consult with their legal counsel on how best to address the issue as it pertains to their organizations. Specifically, there has been an increase in the number of objections to claims being filed in cases where there is a joint bankruptcy and particularly in cases where the property is held by the tenancy in the entireties.

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Bankruptcy 130

Accounting Department

DECEMBER 26, 2024

For many medium-sized businesses, the decision to maintain an in-house accounting team seems like a straightforward choice. After all, having an on-site dedicated team can seem beneficial for managing financial operations closely. However, beneath the surface lies a myriad of hidden costs that can significantly impact your bottom line. This blog post explores these hidden costs and examines whether outsourcing accounting functions might be a smarter, more efficient alternative.

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Gaviti

NOVEMBER 18, 2024

Automation delivers finance departments many benefits, including accurate predictions and insights related to revenue and sales so that CFOs and their teams can make better business decisions. Despite this, automation in accounts receivable has met its fair share of skepticism from business leaders worldwide. Some of the main concerns include change management and employee adaptability to new technologies, adherence to compliance, how easily the automation technology integrates with other financ

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Bad Debt Bad Debt to Sales Invoice to Cash Credit and Collections 98

Due

DECEMBER 9, 2024

A man from Florida has been sentenced for committing an estimated $67 million in Medicare fraud claims. The Justice Department released details of the jail term for Jose Goyos, a West Palm Beach, Flordia resident. The Federal Bureau of Investigations (FBI) and the Health and Human Services Office of the Inspector General (HHS-OIG) investigated this million-dollar healthcare case.

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Abrigo

NOVEMBER 13, 2024

This article covers these key topics: Debt-service coverage ratios are steady. Leveraged has improved since 2019. Businesses' working capital cycles are longer. Interest coverage ratios have stayed strong. How lenders can leverage this data. Bank and credit union leaders can use data to inform small business lending Small businesses are showing resilience.

Small Businesses 88

Small Businesses Credit Unions Credit Risk Accounting Firms 88

TreviPay

NOVEMBER 20, 2024

TreviPay’s Risk Management Platform now offers automated buyer onboarding at onset of order-to-cash process, with faster and more localized configurations for foreign markets OVERLAND PARK, Kan., November 20, 2024 — TreviPay , the most-trusted B2B payments and invoicing network, has expanded its order-to-cash (O2C) offering by enhancing the buyer onboarding experience through automation.

Credit Application 64

Credit Application Order to Cash Transactions 64

Enterprise Recovery: Accounts Receivable

NOVEMBER 15, 2024

Following up on past-due invoices and delinquent accounts can be a full-time job. However, it is invaluable to your business's bottom line. If you're considering outsourcing debt collections or handling them in-house, this post can help clarify the benefits of outsourcing. Outsourcing B2B debt collection can transform your financial operations by bringing in expertise, reducing costs, and freeing up valuable internal resources.

Debt Collections 82

Debt Collections Past Due Invoices 82

Your Virtual Credit Manager

NOVEMBER 5, 2024

A client, who rented heavy equipment to manufacturers and construction firms across a multi-state market area, was saddled with an accounts receivable (AR) growing faster than revenue. In other words, they weren’t collecting everything being sold. Three staff members handled both customer service and collection duties, while the Controller managed credit.

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Accounts Receivable (AR) Credit and Collections Credit Management Default 130

Know-It Global

NOVEMBER 13, 2024

As a business owner or finance professional, one of the most frustrating situations you can encounter is a customer who refuses to pay their invoice. Whether it’s due to cash flow issues, a dispute over the goods or services provided, or just plain unwillingness to settle, unpaid invoices can significantly impact your business’s cash flow and bottom line.

Debt Collections 59

Debt Collections Credit and Collections Bankruptcy 59

Credit Research Foundation

AUGUST 28, 2024

Is leadership a learned or a genetically inherited trait among credit professionals? I’m sure this is a topic that can be debated by some of the brightest minds in the world, but one thing can’t be debated: at the Credit Research Foundation ( CRF ) the brightest minds in the industry gather to educate, network and share their learnings with each other.

B2B Credit 195

B2B Credit Credit Risk 195

RevCycle

AUGUST 22, 2024

Patient access, often overlooked as a mere administrative function, is the linchpin that connects patients to care. It encompasses the systems and processes that determine how easily patients can obtain healthcare services, from finding a provider to scheduling appointments and understanding billing. A well-optimized patient access department is crucial for delivering timely, high-quality care, improving patient satisfaction, and driving financial success.

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RMAi Blog

NOVEMBER 4, 2024

Earlier today, the New York City Department of Consumer and Worker Protection (DCWP) published a change to the effective date for the amended New York City Debt Collection Rules that were adopted on August 12, 2024. The new effective date will be April 1, 2025. Previously, the amendments were set to go into effect on December 1, 2024. This change is consistent with the industry’s request for additional time for implementation given the significant changes to the rule.

Debt Collections 130

Debt Collections 130

Accounting Department

NOVEMBER 13, 2024

Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.

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Collenda

NOVEMBER 13, 2024

Aryza Expands Partnership with GoCardless to Enhance Payment Solutions Aryza Group, a leading provider of financial software solutions, announces the expansion of its partnership with GoCardless , a global bank payment company. This collaboration transforms the existing technology relationship into a comprehensive partnership that includes an introducer agreement across all Aryza platforms globally.

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Transactions 64