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.

Credit Management 86

Credit Management Credit and Collections 86

Your Virtual Credit Manager

FEBRUARY 27, 2024

For a small business owner or executive, navigating credit decisions can be challenging, especially when they clash with the goals of other stakeholders within the company. It's essential, however, for everybody to recognize that credit decisions also have broader implications across various aspects of company operations.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Bad Debt Days Sales Outstanding Credit and Collections 130

Your Virtual Credit Manager

APRIL 2, 2024

Commercial credit scores predict the likelihood of a business fulfilling its financial obligations, particularly regarding debt repayment and trade credit. Commercial credit scores are often not as well understood as consumer credit scores such as FICO. Photo by Element5 Digital on Unsplash First, a little background.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle. it just might help them pay you sooner!

Credit and Collections 130

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

SAP Credit Management

JULY 27, 2023

Take a look at my video below to get a first glimpse into what the SAP S/4HANA Cloud, public edition 2308 release offers for the intelligent enterprise: Collaboration In the last release, I introduced you to our SAP Collaboration Manager. Using SAP Collaboration Manager, they create a chat and invite their co-workers to collaborate.

148

148

Your Virtual Credit Manager

OCTOBER 10, 2023

In larger organizations, those with credit professionals on staff, the credit function is sometimes disparaged as the “Stop Sales” department. When that’s the case, it’s clear that sales and credit are not properly aligned and the resulting friction is bad for business. What do you need help doing?

Bad Debt 130

Bad Debt Credit Risk Credit Management 130

SAP Credit Management

SEPTEMBER 20, 2023

Discover new capabilities and the latest enhancements focused on performance management as well as career development and internal mobility. See in action how to build the skills needed for a future-ready workforce and SAP employee experience management solutions by Qualtrics that can help you listen to employees.

169

169

Your Virtual Credit Manager

MARCH 13, 2023

World class receivables management involves efficiently converting orders to cash while minimizing profit dilution. Your Virtual Credit Manager works with SMBs to root out the system constraints, process inefficiencies and hidden risks that create unnecessary transactional friction, thereby diluting profitability and hindering cash flow.

Credit Management 130

Credit Management AR Automation Small Businesses Credit and Collections 130

SAP Credit Management

AUGUST 3, 2023

Let’s have a look at the system for a demo: Visibility of Manual Debit and Credit Memos in Project Billing (4E9) ​ Going back to the project billing functionality. It improves the usability of the resource management functionality and its main user the resource manager.

149

149

Your Virtual Credit Manager

DECEMBER 5, 2023

Share Differentiating Your Customers The two most important customer account characteristics that will foreshadow the Collection Strategy you should pursue are: The size of their AR balance Their credit risk profile As a rule, customers that owe you larger amounts of past due AR should receive more and earlier attention than customers who owe less.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Third Party Collections Credit Risk 130

Abrigo

JANUARY 30, 2024

Takeaway 3 ThinkBIG conference sessions can help bank and credit union professionals earn required credits for continuing education. Consistently rated a top industry event by attendees, ThinkBIG brought together 650 people from banks, credit unions, and partners in 2023. Reasons to attend Why the ThinkBIG conference?

Credit Unions 78

Credit Unions CECL Credit Risk Cybersecurity 78

Your Virtual Credit Manager

AUGUST 22, 2023

The bad news is that nearly 21 percent of last year’s startups will fail this year leaving you with a bad debt on your books if you sold to them on credit terms. This is why age is an extremely important consideration when extending credit. In order to continue providing expert content, we need to change our subscription model.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Bankruptcy 130

Your Virtual Credit Manager

DECEMBER 19, 2023

Hopefully, that is why you are reading Your Virtual Credit Manager. In most cases (90 percent or more), we find the customer has a valid claim and deserves a credit. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Your Virtual Credit Manager

JANUARY 23, 2024

Approving a customer for credit terms is merely the first step in an open credit relationship. Economic circumstances may cause you to tighten your credit policies and customer credit limits. Situations change, both for you and for your customer. Even more likely are changes to a customer’s business.

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Effectively managing accounts receivable (AR) is essential for a company's financial well-being. Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Offer ends 9/30/23.

Credit and Collections 130

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

Your Virtual Credit Manager

JANUARY 2, 2024

Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. This post focuses on the aspect of collections that involves Credit Holds. Removing a credit hold is referred to as releasing an order. To learn more, you will need to be a paid subscriber.

Bad Debt 130

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

Your Virtual Credit Manager

DECEMBER 12, 2023

The other prominent challenge is administering the contracting, billing, and receivables management processes supporting the recurring revenue. Ideally you need to not only check the customer’s credit as part of the customer aquisition and onboarding process, but also prior to renewal. it just might help them pay you sooner!

Days Sales Outstanding 130

Days Sales Outstanding DSO Credit Management Small Businesses 130

Abrigo

MARCH 13, 2024

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. 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.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Your Virtual Credit Manager

OCTOBER 24, 2023

This includes people who are not comfortable in a collection role, which is a common situation in smaller organizations, especially for those that doesn’t have formal credit and collections training or experience. Photo by Jo Coenen - Studio Dries 2.6

Collector 130

Collector Credit and Collections B2B Credit Debt Collections 130

Your Virtual Credit Manager

JANUARY 9, 2024

Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. In fact, once you decide to sell a customer on open credit, most of the accounts receivable (AR) management tasks that follow have a reactive component. There is nothing wrong with that.

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

APRIL 30, 2024

Photo by Freddie Collins on Unsplash ) Trade credit terms are intended to provide a convenience for the customer and unlike most loans are generally unsecured, in large part because they have a short term. The experts at Your Virtual Credit Manager are currently offering 33 percent off our standard small business consulting rates.

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 100

Your Virtual Credit Manager

FEBRUARY 13, 2024

Clearly, the level of Business Credit Risk is going to remain elevated as we move through 2024, bringing with it the potential for corresponding increases in bad debt and delinquency. To support your decisions get updated credit reports, more recent financial statements (if available) and update the customers supplier payment references.

Bankruptcy 130

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

Your Virtual Credit Manager

JANUARY 30, 2024

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. More About Purchasing Credit Reports Over time, insights gained from this approach can inform risk assessments for new accounts, which you can use to refine your credit risk parameters.

Credit and Collections 130

Credit and Collections Collector Accounts Receivable (AR) Days Sales Outstanding 130

Your Virtual Credit Manager

FEBRUARY 20, 2024

Financial Health Priorities: Organizations may have specific financial health priorities such as improving liquidity, managing working capital, or reducing credit risk. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

DSO 130

DSO Days Sales Outstanding Credit and Collections Accounts Receivable (AR) 130

SOA People

APRIL 2, 2024

The leading and independent German magazine for credit managers is published four times a year. In line with the association's motto "From Credit Managers for Credit Managers", established industry experts have their say in practice-oriented specialist articles.

Credit Management 52

Credit Management 52

Your Virtual Credit Manager

NOVEMBER 14, 2023

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. What’s Right for Your Firm?

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

OCTOBER 31, 2023

Accounts receivable (AR) represent the amounts owed your business by your customers for the purchase of goods or services delivered on credit. Because AR constitutes one of largest assets on your books, proactively managing accounts receivable is crucial for the financial health of your business. What do you need help doing?

Bad Debt 130

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

SOA People

FEBRUARY 21, 2024

Ludo Theunissen is President of the Federation of European Credit Management Associations (FECMA), as well as Founder and President of the Instituut voor Kredietmanagement (IvKM), the Belgian association for credit managers.

Credit Management 52

Credit Management international credit 52

Your Virtual Credit Manager

MARCH 12, 2024

As a result, trade credit, where businesses extend financing to customers, is undergoing rapid advancements, but it also poses high risks, especially in assessing creditworthiness, dealing with economic fluctuations, and fraud. The experts at Your Virtual Credit Manager can help you bring in the cash.

AR Transformation 100

AR Transformation Credit and Collections Accounts Receivable (AR) Order to Cash 100

Credit Management Group UK

JANUARY 7, 2024

To tackle these issues, for a low monthly cost we can provide your business with the expertise and support necessary in fully understanding your credit management issues, analysing the situation to find the most appropriate solutions.

Credit Management 86

Credit Management Bad Debt Credit Risk Credit and Collections 86

Your Virtual Credit Manager

NOVEMBER 28, 2023

Forecasting cash receipts from AR starts with a listing of every invoice owed you by every customer (net of any payments already made and credit memos issued). Share The Added Benefits of Cash Forecasting Cash forecasting is extremely important in managing any business. More About Purchasing Credit Reports

Cash Forecasting 130

Cash Forecasting Credit and Collections Accounts Receivable (AR) Invoice Disputes 130

Your Virtual Credit Manager

SEPTEMBER 26, 2023

Suppliers, lenders, and credit rating agencies place substantial importance on these numbers when assessing your liquidity and overall financial strength. Their assessments of your business based in large part upon these metrics will determine your credit limits, collateral requirements, lines of credit and borrowing capacity.

Credit and Collections 147

Credit and Collections Accounts Receivable (AR) Deductions Collector 147

Your Virtual Credit Manager

SEPTEMBER 19, 2023

In order to continue providing expert content, we need to change our subscription model. Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices. For more on Red Flags click here. Reduce Your Exposure: This can be done unilaterally.

Credit and Collections 130

Credit and Collections Bad Debt Default Credit Risk 130

Your Virtual Credit Manager

MARCH 5, 2024

Most small companies come up short because when there isn’t a dedicated employee responsible for credit and collections, the owner or CFO have more important things to do. The experts at Your Virtual Credit Manager can help you bring in the cash. Good collectors are expert at deflecting excuses.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Accounts Receivable (AR) 100

Due

MARCH 24, 2024

There’s a book for everyone on this list, whether you’re an expert in tax planning or just getting started. Tax-Free Wealth” by Tom Wheelwright An expert in tax law and tax planning , Wheelwright provides a comprehensive guide to tax codes and tax minimization. tax code works and practical tips on how to save taxes legally.

Deductions 105

Deductions Small Businesses Transactions 105

SAP Credit Management

JULY 26, 2023

In my previous blog I introduced the sample personas – now I would like to show you how you can leverage them: Attributes in Context of Personas Kim is working as recruiter and is supporting the managers during the employee lifecycle from defining positions, recruiting but as well as off-boarding.

140

140

Your Virtual Credit Manager

OCTOBER 17, 2023

Extending credit is the financial backbone of Business-to-Business (B2B) commerce. To avoid unacceptably large credit losses, a system of credit controls and procedures must be implemented. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

Bad Debt 130

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