Your Virtual Credit Manager

OCTOBER 31, 2023

Because AR constitutes one of largest assets on your books, proactively managing accounts receivable is crucial for the financial health of your business. Simply put, if customers have weak financials or a history of late payments or defaults, there is an elevated risk of bad debt.

Bad Debt 130

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

The Red Spectrum

APRIL 13, 2023

A business credit score is a numerical representation of a company’s creditworthiness. Credit bureaus calculate it based on the company’s credit history, payment behavior, and other financial data. Having a good business credit score is crucial for several reasons. How does a small business get a credit score?

Credit Scoring 78

Credit Scoring Credit Reporting Agencies Small Businesses 78

tillful

FEBRUARY 28, 2023

Have you heard about the FICO Small Business Scoring Service (SBSS)? Like most business credit scores, the SBSS helps lenders and service providers understand the level of credit risk that businesses present. Here’s a closer look at FICO SBSS scores, why they matter, and how you can improve yours. What is an SBSS score?

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

Due

APRIL 4, 2023

When you get down to basics, financial planning is simply the process of setting financial goals and creating a plan for how you’ll meet those goals. Yet short of a winning lottery ticket or an unexpected inheritance, it’s virtually impossible to improve your financial situation without planning.

Credit Scoring 105

Credit Scoring 105

The Red Spectrum

MAY 8, 2023

The Importance of a Good Credit Score Having a good credit score is essential for any small business seeking financing. Credit scores provide lenders with an indication of how likely a borrower is to repay a loan. In 2023, lenders are likely to place even more emphasis on credit scores.

Small Businesses 96

Small Businesses Credit Scoring Credit and Collections Transactions 96

Waystar

MAY 31, 2023

When it comes to earning patient loyalty, many focus on the clinical side of healthcare and may not realize just how much the patient financial journey impacts the experience. The truth is how well you deliver patient financial care can leave a lasting impact — and even play a role in determining if patients decide to return in the future.

Medical Billing 52

Medical Billing Credit and Collections Credit Card Companies 52

The Red Spectrum

MAY 11, 2023

The financial stability of any organization depends heavily on how well vendor accounts are managed. You must manage your Net 30 vendor accounts as a business owner or financial manager if you want to make sure that your suppliers are paid on time and that you have a good working relationship with them.

Small Businesses 94

Small Businesses Credit Scoring 94

Eagle Business Credit

MARCH 7, 2024

A working capital line of credit provides this kind of financial support, giving businesses the ability to cover short-term needs. Creditworthiness and Credit Score Credit Scores: Banks typically look for a robust business credit score that reflects responsible credit management.

Credit Scoring 52

Credit Scoring Credit and Collections Default Credit Application 52

Lendio

MARCH 21, 2024

However, managing a healthy, cash-flow positive business sometimes means turning to additional financial tools – and this is where inventory financing can be a game-changer. This type of credit is essential for maintaining optimal stock levels, meeting customer demand, and navigating seasonal influxes without creating a financial squeeze.

Credit Scoring 52

Credit Scoring Credit and Collections Small Businesses Default 52

Due

NOVEMBER 22, 2023

In fact, according to a Capital One and Decision Lab survey , more than three in four (77%) Americans are anxious about their financial situation. It can negatively affect our mental and physical health, preventing us from living our best lives. You can use this information to make informed financial decisions and prevent overspending.

Credit Scoring 110

Credit Scoring 110

SSI Healthcare Rev Cycle Solutions

MARCH 29, 2024

Read More The SSI Group Announces Key Partnership with RCxRules The SSI Group, a leader in financial performance solutions for providers and payers, announced today a partnership with RCxRules, a leading provider of automated billing solutions for healthcare organizations’ population health and revenue cycle operations.

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Your Virtual Credit Manager

FEBRUARY 27, 2024

Photo by AJ Yorio on Unsplash ] While prudent credit decisions are made to safeguard a company’s financial interests, they can sometimes be perceived negatively by sales representatives whose commissions may be impacted, or by procurement and production personnel who are driven by their own set of metrics and incentives.

Accounts Receivable (AR) 130

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

Due

JANUARY 10, 2024

Buying a book for $10 or less can teach you something new, improve your skills, or help you become more financially literate. You can find a mentor on SCORE. A SCORE mentor is an experienced business professional who helps others start and grow their own businesses. Financial issues can also be addressed through therapy.

Brokerages 104

Brokerages Small Businesses 104

Eagle Business Credit

MARCH 7, 2024

The key to a successful application with us is having open receivables for sales completed to other businesses rather than the traditional approval process undertaken by banks where you need to demonstrate a proven financial performance track record, a satisfactory credit score and tangible collateral to support.

Credit Scoring 52

Credit Scoring Small Businesses Credit Management Transactions 52

Due

APRIL 10, 2023

The Pros Financially, you might be better off. Although single people are said to suffer the most from the cost of living, being single may have financial benefits. You are fully in control of your financial and personal goals when you are single. Planning is usually a good idea once you’ve set your financial goals.

Deductions 114

Deductions Credit Scoring Credit and Collections Insurance Companies 114

Due

AUGUST 5, 2023

” Donating to charity is one of the most rewarding acts, with several benefits for your mental, societal and financial health. If charitable donations have yet to become one of your financial habits, this is the year to make it happen. However, lowering your income tax is only one path toward better financial management.

Nonprofit Organizations 98

Nonprofit Organizations Deductions Small Businesses 98

Due

MARCH 14, 2023

Many of the opportunities available to you are dictated by your financial situation, making it difficult to overstate the importance of taking care of your personal finances. Understanding your current financial situation, setting goals, and making a plan are all important steps for improving your financial situation.

Credit Scoring 124

Credit Scoring Small Businesses 124

Bectran

JULY 19, 2023

In the world of B2B credit lending, effective credit risk analysis is of utmost importance for the financial health of your business. Traditional credit risk modelling typically relies on extensive data including credit scores, financial statements and historical payment records.

Credit Risk 52

Credit Risk B2B Credit Credit Scoring 52

The Red Spectrum

JUNE 5, 2023

Whether you’re a startup or an established enterprise, building a strong business credit score can unlock numerous benefits, including access to better financing options, favorable terms, and increased credibility with suppliers and partners. The Business Builder provides monthly reporting and continued building of your business credit.

Credit Scoring 65

Credit Scoring Credit and Collections Credit Management 65

tillful

MAY 12, 2023

A poor business credit score or thin credit history can get in the way when applying for small business loans. Traditional banks and financial institutions often don’t provide financing for businesses with bad credit scores or weak credit histories (either due to short time in business, or the presence of derogatory marks such as liens).

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

RMAi Blog

DECEMBER 27, 2022

The process of making a budget is difficult—not only because it is time consuming to think of all the ways you spend money—but because for many people it is a painful admission of how they waste money or make poor financial decisions. Most importantly, consider your budget a path to financial freedom rather than a burden.

Credit Scoring 130

Credit Scoring 130

Due

MAY 23, 2023

Personal finance is a critical aspect of life that many overlook until they encounter financial difficulties. However, understanding and managing your finances can be a game-changer that sets you on the path to financial success. Similarly, framing your financial goals can impact your motivation to achieve them.

Credit Scoring 98

Credit Scoring Medical Billing 98

tillful

MARCH 8, 2023

Over the past two decades, the financial services industry has been gravitating towards a more comprehensive approach to credit risk assessment. Credit scoring models alone don’t tell the whole story, so companies are looking to alternative credit data to fill in the gaps. What is alternative credit ?

Credit Scoring 59

Credit Scoring Credit Reporting Agencies Bankruptcy Credit Risk 59

SSI Healthcare Rev Cycle Solutions

MARCH 4, 2024

Read More The SSI Group Announces Key Partnership with RCxRules The SSI Group, a leader in financial performance solutions for providers and payers, announced today a partnership with RCxRules, a leading provider of automated billing solutions for healthcare organizations’ population health and revenue cycle operations.

Cybersecurity 40

Cybersecurity Transactions 40

The Red Spectrum

APRIL 10, 2023

Business credit scores and personal credit scores are two separate things. Using a business card responsibly will help you build your business credit scores. It should be recognized that your company has many credit scores rather than just one. How do personal and business credit cards differ from one another?

Credit Scoring 52

Credit Scoring Small Businesses 52

tillful

JANUARY 24, 2023

You may have heard about a business credit score and wondered if you really need to focus on building it. Can’t you just rely on your personal credit score? A business credit score is based on the financial track record of your business, and is tied to your employer identification number (EIN). Here are four key ways.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Waystar

FEBRUARY 16, 2023

Decide if it’s worth your time to chase a high score. Physicians who score in the exceptional range — and even those who score a perfect 100 — will only receive a 1.87% bonus within two years. Staying ahead of healthcare reimbursement issues is a struggle — and one that comes with seemingly endless questions.

Insurance Companies 98

Insurance Companies 98

Gaviti

JANUARY 2, 2024

As a CFO, you have a tremendous responsibility for the financial health of your organization, so it’s essential that you have the tools to continually measure and evaluate your company’s profit, revenue and make critical decisions related to the company’s growth. What is a Cash Flow Metric? What is a Cash Application KPI?

Collection Effectiveness Index 52

Collection Effectiveness Index Average Days Delinquent DSO Days Sales Outstanding 52

Lendio

OCTOBER 17, 2023

Credit score – As part of the process, the lender will pull your credit report to see your overall financial health. If you haven’t checked your business credit score before, check out this guide to learn more. Include detailed financial projections to show that you can repay the loan.

Credit Scoring 98

Credit Scoring Credit Unions Small Businesses Transactions 98

Lendio

APRIL 11, 2024

You could score customers, increase revenue, accelerate growth, win top-notch employees, and ultimately secure a more concrete piece of the market. It’s a decision that should be based on a combination of timing, financial stability, and market position. What do the financials say? Dig deep into the numbers.

Small Businesses 98

Small Businesses Bankruptcy Credit Scoring Transactions 98

Due

JANUARY 4, 2023

Consequently, it can lead to devastating losses even as you seek to improve financial investments. Spending time with individuals with the mindset you want is critical to your financial success.” Taking on the services of a financial advisor to help you plan for retirement is a smart move.

Credit Scoring 111

Credit Scoring 111

Eagle Business Credit

MARCH 4, 2024

Our approach is to provide a financial safety net that can adapt to the working capital needs and the unique financial cycles of each business. Overview of Working Capital Lines of Credit In managing the financial health of a company, it’s crucial to understand the flexible solutions available to maintain a stable cash flow.

Credit Scoring 52

Credit Scoring Small Businesses Transactions 52

Your Virtual Credit Manager

MARCH 19, 2024

When a debtor repeatedly fails to follow through on promises or commitments to make payments, despite assurances to the contrary, the pattern is indicative of untrustworthiness or financial instability. Consistently missing payments is also indicative of financial instability or an unwillingness to fulfill obligations.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Accounts Receivable (AR) 100

The Red Spectrum

APRIL 12, 2023

Understanding net 30 vendors and negotiating better payment terms with your suppliers can be a smart business strategy that can help you manage your cash flow, build stronger relationships, and improve your overall financial health. Q: What factors should businesses consider before negotiating payment terms?

Credit Scoring 97

Credit Scoring Credit and Collections Credit Risk Credit Management 97

Due

JANUARY 3, 2023

You can think of a credit report as a snapshot of your financial situation. Basically, a credit report tells you what your financial habits are. Credit Reports vs. Credit Scores. Your credit scores are also influenced by your credit reports. Essentially, your scores summarize the information in your credit report.

Credit Scoring 119

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 119

Eagle Business Credit

SEPTEMBER 9, 2022

This is because of approval requirements for things like time in business or business credit score. Factoring Can Help You Graduate to Bank Financing by: Building your business credit Having different approval requirements Stabilizing your cash flow Providing fast working capital Showing custom financial reporting.

Credit Scoring 52

Credit Scoring Credit and Collections Dashboards Small Businesses 52

FICO Blog

FEBRUARY 7, 2023

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. FICO® Score XD 2 allows for exactly that. Read the full post 2.

Credit Scoring 52

Credit Scoring Debt Collections Credit and Collections Medical Billing 52