Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. DOWNLOAD Takeaway 1 Preventing fraud is a top concern of credit unions considering adopting FedNow, the new instant payments infrastructure from the Federal Reserve. These include the ability to accept a payment without posting.

Credit Unions 88

Credit Unions Credit and Collections Transactions Cybersecurity 88

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

Abrigo

OCTOBER 10, 2023

Learn what other banks are doing to manage. Takeaway 2 Software helps streamline when employees are spread out and spread thin between remote work challenges and growing responsibilities. Leveraging loan review software   can help financial institutions maximize their existing resources.

Credit Unions 78

Credit Unions Credit Risk CECL 78

Abrigo

OCTOBER 10, 2023

Learn what other banks are doing to manage. Takeaway 2 Software helps streamline when employees are spread out and spread thin between remote work challenges and growing responsibilities. Leveraging loan review software   can help financial institutions maximize their existing resources.

Credit Unions 78

Credit Unions Credit Risk CECL 78

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

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

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

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

Abrigo

MAY 2, 2024

Introduction Small business lending for banks & credit unions Small businesses play a crucial role in our economy, and one of the key factors in their success is access to funding. This policy serves as a set of guidelines that outline the rules and expectations for the credit function within the bank or credit union.

Small Businesses 88

Small Businesses Credit Risk Credit Unions CECL 88

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. Automate the production and delivery of collection e-mails.

Past Due Invoices 100

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

Emagia

MAY 1, 2024

. “The time has come to take advantage of it in terms of how we do things and how we might be able to do things better,” says David Schmidt, Managing Director at A2 Resources and former longtime contributor with Credit Today. Collections, payment, and invoicing software can reduce the time for preparation and follow-up.

Order to Cash 52

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

Your Virtual Credit Manager

AUGUST 15, 2023

More About Purchasing Credit Reports Use Sequencing and Escalation Once you have settled on how you will segment your customers, it is a simple matter to outline the sequence of collection activities and the timing thereof for each segment and circumstance. New orders trigger a credit hold and a call. Learn More In Summary.

Credit and Collections 130

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

Gaviti

OCTOBER 23, 2023

One possibility is by running a business credit score and report on new customers. What is a Business Credit Score and Report? A business credit score is a rating whose goal is to demonstrate how financially responsible a business is as well as its potential for profitability.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

Collenda

APRIL 18, 2024

Aryza and Dot d igital Forge Strategic Alliance to Revolutionise Customer Experience in Credit and Debt Management Aryza Group announces its strategic partnership with Dotdigital, an all-in-one customer experience and data platform. This partnership enhances customer experience when they access credit and debt solutions.

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Lendio

MAY 6, 2024

If you’re trying to decide whether you should accept credit card payments, it’s never been easier. This guide will help you to decide whether you should take advantage of the estimated 441 million open credit card accounts in the United States. Why accept credit cards? Why you might not be able to accept credit cards.

Credit Card Payments 98

Credit Card Payments Small Businesses Credit and Collections Transactions 98

Abrigo

SEPTEMBER 29, 2022

Construction loan softwares are a windfall of efficiency for financial institutions. Essential technology for modern lending and credit departments. Learn more about what they are and how they help banks and credit unions gain needed efficiency in the loan administration process. What is construction loan management software?

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Transactions 78

Collenda

MARCH 13, 2024

Aryza Decide is a standalone platform meticulously crafted to streamline lending operations, allowing organisations to effectively manage the credit risk journey in-house. Its cloud-based decision engine automates lending decisions, offering unparalleled simplicity and ease of use.

Credit Risk 52

Credit Risk 52

Collenda

APRIL 11, 2024

Aryza Signs Agreement with TransUnion to Revolutionize Debt Solutions in Canada Through Aryza Advize Aryza Group, a leading provider of financial software solutions, has selected TransUnion, a global information and insights company, to facilitate access to its credit reports for Aryza Advize users in Canada.

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Abrigo

NOVEMBER 2, 2022

Here's what to look for in a software. You might also like this whitepaper: "10 ways construction loan monitoring software saves time." Takeaway 2 Banks should seek out collaborative, easily accessible, customizable software for streamlined construction loan automation. Selecting the right construction loan automation software.

Credit Risk 78

Credit Risk Credit and Collections CECL 78

The Red Spectrum

APRIL 12, 2023

Net 30 vendors are suppliers or vendors that offer businesses the option to pay for their products or services within 30 days of receiving an invoice. This means that you have 30 days to pay the vendor for the products or services you purchased. First, it can help you manage your cash flow more effectively.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Risk Credit Management 97

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. The credit management department have just had to grin and bear it.

DSO 52

DSO Order to Cash Credit Management 52

Due

FEBRUARY 5, 2024

Rather than trying to come up with keywords on your own, you can rely on a data-rich platform to recommend keywords based on your company’s products or services. By leveraging tools for financial analysis and forecasting, you can make informed decisions to optimize profitability, manage cash flow, and allocate resources.

Credit and Collections 116

Credit and Collections 116

SAP Credit Management

SEPTEMBER 12, 2023

This introduces a novel form of complexity that necessitates effective management strategies. Test cycles: The process of automating repetitive test executions across various test cycles, in response to minor or major changes, with the aim of deploying them in the production environment.

Process Mining 186

Process Mining Credit and Collections Transactions 186

Your Virtual Credit Manager

APRIL 4, 2023

Supporting profitable sales through the extension of credit Collecting as much of the AR generated as possible by or near the due date to ensure a substantial cash inflow Mitigating the risk of bad debt losses These tasks are best accomplished in a tidy environment. What constitutes optimization of a company’s AR?

Past Due Invoices 100

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

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. Please feel free to share this newsletter with your small business customers.

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Abrigo

APRIL 7, 2023

Here's what to say when presenting a case for software at your institution. Reduce manual processes Making a case for loan review automation software Building a business case for most software purchases can feel like a daunting task. You might also like this whitepaper: "2022 Loan Review Benchmark Survey Results."

Credit Risk 78

Credit Risk CECL 78

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

Your Virtual Credit Manager

OCTOBER 25, 2022

To add insult to injury, the situation is exacerbated by collection calls from the supplier, albeit innocently made in an attempt to get the order released from the credit hold queue. Your Virtual Credit Manager is available to answer your remittance processing questions and help you find the best solution for your circumstances.

Credit and Collections 130

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

Abrigo

MARCH 24, 2023

Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. Has your credit union started your annual process for updating your anti-money laundering/countering the financing of terrorism (AML/CFT) risk assessment?

Credit Unions 78

Credit Unions Cybersecurity Credit and Collections Transactions 78

Your Virtual Credit Manager

MARCH 14, 2023

Collection myths can be found at the very root of bad decisions as well as informing counter-productive activities. Order an updated credit bureaus report. Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner aaccredit.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

Abrigo

APRIL 21, 2023

Focus loan reviews on risk in the portfolio Continuous loan review monitoring helps banks and credit unions ensure credit review systems support safe and sound lending. You might also like this webinar, "Return to basics: Asking the right credit risk questions."

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Lendio

MARCH 31, 2023

This is an obvious statement for those who sell end-use products such as skateboards or alarm clocks, but it also relates to manufacturers that supply other businesses. Your inventory is your lifeblood, so it’s essential you manage it accordingly. When you don’t sell enough products, your days might be numbered.

Small Businesses 98

Small Businesses 98

Collenda

FEBRUARY 26, 2024

Aryza and Acquired.com Partnership Revolutionises Customer Experience Aryza Group, a leading provider of financial software solutions, has reached a significant milestone in its collaboration with payments specialists Acquired.com. Key benefits to Aryza’s customers include an increase in payment processing and collections.

Credit and Collections 64

Credit and Collections Transactions 64

Collenda

FEBRUARY 26, 2024

Aryza and Acquired.com Partnership Revolutionises Customer Experience Aryza Group , a leading provider of financial software solutions, has reached a significant milestone in its collaboration with payments specialists Acquired.com. Key benefits to Aryza’s customers include an increase in payment processing and collections.

Credit and Collections 64

Credit and Collections Transactions 64

Lendio

APRIL 30, 2024

Small businesses are finding innovative ways to harness AI’s abilities, from streamlining marketing efforts and enhancing customer communication to optimizing inventory management. Email marketing software also uses AI. Read on to learn more about how AI can benefit your small business. Unpacking AI for the uninitiated.

Small Businesses 59

Small Businesses Credit Card Companies Transactions 59

Lockstep

NOVEMBER 8, 2022

Lockstep will provide SYSPRO’s North American customers access to award-winning accounts receivable (AR) automation software, Lockstep® Receivables. By automating a company’s collections process, cash flow is increased, and credit risk is decreased. Lockstep connects over six million companies comprising over $3.5B

AR Automation 120

AR Automation Accounts Receivable (AR) Automated Cash Application Credit and Collections 120

Abrigo

JULY 27, 2023

How banks and credit unions can leverage regtech What FI staff members need to know when considering implementing regtech in the banking sector. Takeaway 3 Banks and credit unions considering regtech should make sure their provider is adaptable and their institution is ready for implementation. What is regtech?

Credit Unions 78

Credit Unions Credit and Collections Transactions 78