Your Virtual Credit Manager

JANUARY 3, 2023

For the same reason, AR clutter can reduce the collateral value of your AR portfolio by causing current accounts to be excluded from the funding equation on an asset-backed loan or line of credit. The first month after we automated a few basic tasks to supplement our accounting package, we realized an increase in collections of 30 percent.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Accounting Department

MARCH 28, 2024

This is where client accounting services come into play. In this blog post, we will explore how client accounting services (CAS) streamline financial processes for businesses, highlighting the benefits of outsourcing accounting functions to improve efficiency and reduce administrative burdens.

Transactions 87

Transactions 87

Your Virtual Credit Manager

FEBRUARY 13, 2024

Likewise, the construction and business services industries, accounting for nearly 20 percent of insolvencies last year, are projected to remain the hardest hit in 2024. The good news is that there are a number of actions you can take to reduce your loss exposure and shore up your accounts receivable (AR).

Bankruptcy 130

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

Your Virtual Credit Manager

MARCH 12, 2024

It’s critical you identify inefficiencies by analyzing cash conversion cycles, accounts receivable cycles, credit risk profiles, and payment histories. Include analyses of receivables aging and delinquency to help identify opportunities to improve cash flow. Are there past due accounts you are trying to collect?

AR Transformation 100

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

SAP Credit Management

AUGUST 23, 2023

With SAP S/4HANA Cloud, Public Edition at the heart of the digital getaway, we can equip your institution – no matter its size – with software as a service designed to continuously embrace innovation in line with the swift pace of change. Here are some examples: The capability to automate business processes using machine learning.

Default 137

Default Transactions 137

SAP Credit Management

SEPTEMBER 15, 2023

Low-code and no-code tools can make it easy to skip important safeguarding procedures during production, which can lead to errors and security risks ”. Low-code is primarily used for personal productivity applications, such as Save Gmail to Dropbox, Notify by email for new OneDrive uploads, Email upcoming calendar events, etc.

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192

Your Virtual Credit Manager

OCTOBER 25, 2022

Remittance Processing (also know as Cash Application or Cash Posting) is the process of recording customer payments and applying them to the corresponding open invoices (not yet paid) in the accounts receivable ledger. Customers subsequently received collection calls on invoices they had previously paid.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Cash Applicator Deductions 130

Your Virtual Credit Manager

DECEMBER 5, 2023

This misguided search for a singular understanding applies to many things, including collecting Accounts Receivable (AR). Likewise, customers who exhibit more Credit Risk should receive more and earlier attention than customers who have a lower Credit Risk profile. “One size does not fit all.”

Credit and Collections 130

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

Bectran

JULY 26, 2023

Credit professionals are turning to automated and digitized processes and workflows to free them from tedious, paper-intensive processes. In the accounts receivable (AR) sector, paper invoices are a thing of the past, because automation technology is the future, and it is transforming the way businesses handle B2B transactions.

Transactions 89

Transactions Accounts Receivable (AR) Credit and Collections 89

SAP Credit Management

JULY 27, 2023

So let me share a few productive examples from our customers and partners that I like. EY won an SAP Innovation Award with this application, read more details in their pitch deck and in this article from Axel Janz , Global Head of SAP Products and Innovations at EY. Read more details in this article.

Transactions 153

Transactions 153

Gaviti

MARCH 3, 2024

A recent survey from Intelligent Automation reports that while 42% of organizations have embraced robotic process automation (RPA), the remaining 58% plan to implement it in the upcoming year. What is Robotic Process Automation (RPA) in Accounts Receivable?

DSO 52

DSO Credit and Collections Days Sales Outstanding Cash Applicator 52

Your Virtual Credit Manager

FEBRUARY 7, 2023

Such a process also brings more certainty to the accounts receivable (AR) asset. Long story short, we built Anchor to automate the entire billing process, which starts with the agreement stage, while onboarding new clients, and ends with getting paid, and then reconciliation. Getting paid can be a pain.

AR Automation 130

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

Gaviti

APRIL 24, 2023

Effective accounts receivable management is one of the most critical aspects of boosting steady cash flow for your business. Even so, there are some typical accounts receivable management problems and solutions most businesses should review. The AR team must identify problems and seek long-term solutions.

Credit and Collections 95

Credit and Collections Bad Debt 95

Your Virtual Credit Manager

AUGUST 15, 2023

Each past due account presents a unique set of circumstances. Photo by Berkeley Communications on Unsplash In all probability, your accounts receivable (AR) portfolio conforms to the 80/20 rule. Photo by Berkeley Communications on Unsplash In all probability, your accounts receivable (AR) portfolio conforms to the 80/20 rule.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Credit Management Small Businesses 130

Your Virtual Credit Manager

MARCH 5, 2024

Are there past due accounts you are trying to collect? However, many Accounts Payable (AP) staffers prefer emails because they can address them as their schedule permits and avoid a productivity-decreasing interruption. If you send an email or text you can attach a copy of their account statement and/or invoice ccopies.

Past Due Invoices 100

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

Your Virtual Credit Manager

MAY 30, 2023

Subscribe now The Challenge of Receiving Electronic Payments In terms of payments, for the most part we are talking about ACH debits and credits, credit cards, wires (Fedwire or SWIFT), EDI (electronic data interchange) and e-checks, which all come under the umbrella of Electronic Funds Transfer (EFT).

Electronic Funds Transfer 130

Electronic Funds Transfer Credit and Collections Vendor Portals Order to Cash 130

Emagia

JULY 3, 2023

By automating and improving the process of matching incoming payments with open invoices, automated cash application software has completely changed how firms handle their cash flow. It does away with the need for manual intervention, lowering errors and giving accounting teams back vital time.

Automated Cash Application 52

Automated Cash Application Cash Applicator Days Sales Outstanding AR Automation 52

Lendio

APRIL 30, 2024

Robotic Process Automation (RPA) RPA automates mundane tasks with precision, improving efficiency across sectors. Automation Almost any repetitive task could be a candidate for using AI technology. Email marketing software also uses AI. You can thank AI for that. and voila—a new customer market appears.

Small Businesses 59

Small Businesses Credit Card Companies Transactions 59

Your Virtual Credit Manager

DECEMBER 12, 2023

(Photo by Ramiro Mendes on Unsplash ) A growing number of businesses use the recurring revenue model, including software-as-a-Service (SaaS) and streaming services as well as outsourcing solutions. The other prominent challenge is administering the contracting, billing, and receivables management processes supporting the recurring revenue.

Days Sales Outstanding 130

Days Sales Outstanding DSO Credit Management Small Businesses 130

Gaviti

MARCH 21, 2023

Proper accounts receivable management is vital if you want to operate a healthy business. While it may not be the most exciting part of your business, good accounts receivable (A/R) practices will make your other business operations much smoother. Do you need help overcoming accounts receivable challenges in your company?

Payment Portals 78

Payment Portals DSO Alternative Payment Methods Dashboards 78

Your Virtual Credit Manager

SEPTEMBER 13, 2022

They occur because a customer does not receive your product or service as ordered, or feels the invoice is incorrect. Should you confirm that the customer is indeed correct, the deduction is removed from the Accounts Receivable (AR) ledger via a credit memo. it just might help them pay you sooner!

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Gaviti

APRIL 3, 2024

When accounting departments want a quick evaluation of the health of a business, they often look at their DSO, or days sales outstanding. Accounting operations managers use DSO to calculate the general ability of a company to collect invoices on time for a specific period (e.g. This includes both current, past and overdue invoices.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Due

NOVEMBER 26, 2023

Consider how your monetary choices affect staff morale, from wage increases to embarking on product innovation because of consistently high profit margins. You became lax in receiving payments because you needed to convince potential clients to choose you over larger competitors. You use it for forecasting.

Transactions 105

Transactions Small Businesses 105

Emagia

MAY 1, 2024

In the debut episode of the Emagia AI For Finance podcast series, Schmidt spoke about the growing role (and present) of automated collections and predictive analytics, among other autonomous finance and AI-fueled processes, as businesses recognize the transformative potential of AI. Collection efficiency can be elevated to another level.

Order to Cash 52

Order to Cash Cash Forecasting Credit and Collections Shared Service Center 52

Lockstep

DECEMBER 15, 2022

The Lockstep Receivables application is recognized as an “Acumatica-Certified Application” for 2022 updates. With this validation, Lockstep Receivables continues to be recognized as an Acumatica-Certified Application (ACA). About Lockstep: Lockstep is a connected accounting network that automates accounting workflows between companies.

Accounts Receivable (AR) 75

Accounts Receivable (AR) DSO 75

Lockstep

DECEMBER 8, 2022

Connected Accounting Pioneer Provides Unprecedented Access to Mid-Market ERP Systems. Seattle, WA – (December 8, 2022) – Lockstep , the connected accounting network, today announced that ArtisTrade , a finance software provider specializing in supply chain finance, is now live on Lockstep.

Accounts Receivable (AR) 81

Accounts Receivable (AR) 81

SAP Credit Management

AUGUST 3, 2023

The scenarios range from the sales of digital assets such as the right to use software to the sales of physical goods such as consumables. The integration is based on two integration scenarios: Integration with Sales Billing and the integration with Contract Accounting and Invoicing in S/4HANA Cloud. Interested?

Revenue Recognition 157

Revenue Recognition Invoice Amount Transactions 157

ForwardAI

FEBRUARY 6, 2024

Originally posted on EINPresswire The free virtual event promises to showcase the latest in accounting technology, as well as special giveaways and sweetheart deals from participating companies. Demoing companies include: Forwardly: With Forwardly, companies get payment in 22 seconds, or it’s a free same-day ACH.

Accounting Firms 52

Accounting Firms 52

Gaviti

OCTOBER 23, 2023

As a cloud-based business intelligence software, it delivers data in real-time so that financial professionals can make the right decisions about sales, credit risk assessment and compliance for companies based in both the UK and abroad. Want to learn more about how you can automate the credit report process? Get a demo today.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

Gaviti

NOVEMBER 14, 2022

Receivables collection is one of the most critical functions of any business, but it can also become one of the most stressful. Companies can reduce many overwhelming and monotonous aspects of collections via automation. Sage Intacct streamlines collections tasks but automation alone is not enough. Tracking overdue accounts.

Credit and Collections 72

Credit and Collections DSO Invoice Collections Default 72

NorthOne

MAY 3, 2023

One essential aspect of managing your finances is invoice processing, whether that is receiving, reviewing, or paying invoices for goods and services your company has received. We’ll also discuss the benefits of automating your invoice processing and provide tips for optimizing your process to maximize efficiency and minimize errors.

Small Businesses 52

Small Businesses 52

Onguard

MARCH 1, 2024

They get money in return for providing products or services to their customers. The money is then used to further invest in making better products or providing more comprehensive services and to expand their client base. But what happens if customers pay late or not at all for the goods and services they received?

DSO 52

DSO Order to Cash Credit Management 52

Your Virtual Credit Manager

APRIL 4, 2023

With a growing number of experts predicting a recession to hit later this year, and inflation and interest rates remaining at elevated levels, squeezing every dollar out of your investment in Accounts Receivable (AR) is more important than ever. Not a subscriber … why don’t you take advantage of a free YVCM subscription?

Past Due Invoices 100

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

Emagia

FEBRUARY 5, 2023

Most business processes are undergoing transformation including automation and accounts receivable is no exception. Automation of accounts receivable is the process of automating various manual tasks involved AR process like invoicing, collecting, and tracking receivable to ensure timely collection.

AR Automation 52

AR Automation Days Sales Outstanding DSO Credit and Collections 52

NorthOne

MAY 3, 2023

If you don’t have an accurate and easy-to-implement accounts payable system, it’s easy to incur late fees or make other financial mistakes. The benefits of accounts payable automation include streamlining your processes and saving time and money. Here’s an overview of why automation is worth pursuing.

Dashboards 52

Dashboards Small Businesses 52

Waystar

JANUARY 30, 2024

And doing it right can have positive implications on other top priorities, like cost management, labor productivity, and the well-being of your workforce. If they receive surprise bills months later, it can lead to feelings of dissatisfaction with the provider. What are they not doing?

Deductions 52

Deductions 52

Emagia

OCTOBER 27, 2023

The increasing use of generative AI (GenAI) – a key technology driving the exponential transformation of finance and business landscapes – is drastically changing the receivable collection tasks, making a greater impact on the cash flow and therefore the health of organizations. This increases the likelihood of timely collection.

Credit and Collections 64

Credit and Collections Cash Applicator Current Receivables 64