Your Virtual Credit Manager

OCTOBER 25, 2022

However, any departure from the routine can lead to posting delays in addition to impacting future revenue and cash flow, alienating customers, and increasing administrative costs. This problem evolves from orders incorrectly held because of invoices that appear not to have been paid. Who would’ve thought?

Credit and Collections 130

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

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. Routing of emails can also be managed by AI.

Order to Cash 52

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

Your Virtual Credit Manager

DECEMBER 5, 2023

Over complicating your collection approach, however, can absorb way too much scarce time and diminish results in terms of cash collected and the elimination of past due balances. Ideally you will be able to create a straightforward listing by past due balance in descending order to get yourself started. Read on to learn more about.

Credit and Collections 130

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

Your Virtual Credit Manager

FEBRUARY 7, 2023

We both faced cash flow uncertainties and financial question marks, which crippled us from building for growth and expanding our businesses, as we never knew if and when we would be able to fund it. The pleasant surprise was that during this process, we found that end-to-end AR automation actually solves much more than just late payments.

AR Automation 130

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

Your Virtual Credit Manager

AUGUST 15, 2023

A one size fits all approach to collections will not achieve as high a level of recoveries and cash flow as a strategic approach to collections. Consequently, your collection process needs to adapt to each situation if you are going to realize the best outcomes possible. That’s the reason for collection strategies. Not a subscriber.

Credit and Collections 130

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

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. A $350 Million Medical Products Distributor had no formal Deductions Resolution Process. ” Large or small, many deductions also require significant time to research. it just might help them pay you sooner!

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Your Virtual Credit Manager

DECEMBER 12, 2023

If the contract is not cancelled, it can provide steady revenue and cash flow every month, year after year. 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. So what happened?

Days Sales Outstanding 130

Days Sales Outstanding DSO Credit Management Small Businesses 130

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. Photo by aisvri on Unsplash As in many areas of modern society, there are mistaken beliefs, myths if you will, that form a backdrop for various activities in which we engage.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

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. Sending invoices immediately also benefits companies by ensuring a constant flow of cash coming in.

DSO 52

DSO Order to Cash Credit Management 52

Your Virtual Credit Manager

MARCH 5, 2024

The experts at Your Virtual Credit Manager can help you bring in the cash. However, many Accounts Payable (AP) staffers prefer emails because they can address them as their schedule permits and avoid a productivity-decreasing interruption. Are there past due accounts you are trying to collect? Calls are easy to avoid.

Past Due Invoices 100

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

Your Virtual Credit Manager

MAY 30, 2023

Products like Real-Time Payments (RTP) — think same day ACH — have come into vogue and come July 2023 will be joined by the long anticipated FedNow service. AFP’s 2022 Electronic Payments Survey revealed that only 33 percent of Business-to-Business (B2B) payments are made by check in the USA and Canada.

Electronic Funds Transfer 130

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

Lendio

MAY 6, 2024

However, there are still plenty of small businesses that operate exclusively in cash—and will continue to do so for years to come. Think about your own shopping—there have probably been situations where you had no cash on you or not enough cash to buy all the items you wanted. Why accept credit cards?

Credit Card Payments 98

Credit Card Payments Small Businesses Credit and Collections Transactions 98

Grit

AUGUST 20, 2023

To meet these challenges head-on, the role of eCommerce automation software becomes paramount. Automation tools are crucial in optimizing business processes, enhancing efficiency, and ensuring seamless operations. What is eCommerce Automation Software?

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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. What is Cash Application Software? Short payments should be automatically identified and analyzed.

Automated Cash Application 52

Automated Cash Application Cash Applicator Days Sales Outstanding AR Automation 52

Gaviti

OCTOBER 23, 2023

As the global economic situation fuels business uncertainty, many companies are experiencing a much slower cash flow than they would prefer, a result of late payments from customers. One possibility is by running a business credit score and report on new customers. What is a Business Credit Score and Report?

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

Your Virtual Credit Manager

APRIL 4, 2023

You don’t want anything that causes friction in your cash conversion cycle, and that requires maintaining a clean AR ledger. Unless you have been fastidious, over time your AR has accumulated items that are just sitting on the ledger month after month without contributing to your company’s cash flow.

Past Due Invoices 100

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

Due

JANUARY 29, 2023

Even if you’re still making slim profits, you may still need to raise your prices to have enough cash flow to keep the doors open. Manage Your Cash Flow Having cash in hand during tough economic times is critical so that you can meet your obligations. Remember that cash flow and sales are two different things.

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billtrust

JANUARY 11, 2023

Largest customer marketplace ranks Billtrust Overall Leader in AR software. In January of 2022, Billtrust was the overall leader in accounts receivable automation software. com, one of the largest and most trusted software marketplaces in the world. G2 Grid® for Accounts Receivable Automation Software.

AR Automation 52

AR Automation Order to Cash Collector Cash Applicator 52

Gaviti

APRIL 3, 2024

While it may be a rather one-dimensional measurement of the financial health of a business, it is still widely recognized as one of the best methods for a business to measure the efficiency of its cash management process. Traditionally, a low DSO indicates that your company has capital available and is in good financial standing.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

NorthOne

MAY 3, 2023

When you own a business, paying your suppliers and vendors on time is critical to good cash flow management. The benefits of accounts payable automation include streamlining your processes and saving time and money. The benefits of accounts payable automation include streamlining your processes and saving time and money.

Dashboards 52

Dashboards Small Businesses 52

The Corcentric Blog

MAY 22, 2023

For finance executives seeking to streamline the complicated order-to-cash processes, software automation solutions provide a viable option. A complete automation workflow will significantly reduce the number of human touchpoints in the order-to-cash process and elevate systems accuracy.

Order to Cash 40

Order to Cash Accounts Receivable (AR) Invoice Collections Cash Applicator 40

Gaviti

APRIL 24, 2023

Effective accounts receivable management is one of the most critical aspects of boosting steady cash flow for your business. Solution: Invest in automation technology that integrates well with the systems you use now and plan to use later. The AR team must identify problems and seek long-term solutions. Every business is different.

Credit and Collections 95

Credit and Collections Bad Debt 95

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

TreviPay

FEBRUARY 2, 2023

Receiving customer orders, fulfilling them, and getting paid are the basis for most business operations. This is why it is essential to understand and optimize the order-to-cash (O2C) process. What is order-to-cash (O2C)? The order-to-cash process also sits between and overlaps with several other processes.

Order to Cash 52

Order to Cash Credit and Collections Credit Management Small Businesses 52

Emagia

JUNE 19, 2023

An invoice is a document that provides information of products and services provided to a client. Invoicing is important for managing cash flow. E-invoicing and automation platforms make it much easier and offer cost-effective ways to manage invoicing. What is an Invoice? What is an Invoice Used For?

AR Automation 52

AR Automation Past Due Invoices Accounts Receivable (AR) Credit and Collections 52

NorthOne

APRIL 27, 2023

As a small business owner, managing your accounts payable helps you keep track of short-term debt , avoid incurring late fees, and stay on top of your cash flow. While accounts payable management was for many years a manual process, automation allows you to save time and money and reduce errors. What is accounts payable management?

Small Businesses 52

Small Businesses Transactions 52

Serrala

AUGUST 29, 2022

Then it is time to consider how you can get more out of your FTEs through automation. Credit Risk Management Software for Effective Credit Control Proactive credit risk management is a must to support a healthy business strategy. The below will guide you through a few easy steps to identify if your credit landscape is due an upgrade.

Credit and Collections 52

Credit and Collections Credit Risk Dashboards Credit Scoring 52

NorthOne

JUNE 26, 2023

Accounting software can help streamline your financial management and accounting process , saving you time, reducing errors and enhancing your profitability in the long run. However, investing in the right salon accounting software makes all the difference.

Transactions 52

Transactions Dashboards Small Businesses 52

Emagia

JANUARY 31, 2024

Half of the companies surveyed in SSON’s recent survey rated their own automation levels a medium. Moreover, about one-third characterized their automation as essentially nonexistent. The results indicated the most successful use cases for automation were reported to be Process-to-Pay followed by Order-to-Cash.

Shared Service 52

Shared Service Global Business Services Order to Cash Shared Service Center 52

Emagia

OCTOBER 6, 2023

As businesses aim for better efficiency and productivity in today’s highly competitive and volatile markets, innovative technologies like Generative AI (GenAI) are becoming crucial tools for businesses to achieve success and growth. What is Generative AI (GenAI)?

Order to Cash 64

Order to Cash 64

Gaviti

NOVEMBER 14, 2022

Companies can reduce many overwhelming and monotonous aspects of collections via automation. Sage Intacct streamlines collections tasks but automation alone is not enough. How companies implement automation also makes a difference. What Is Sage Intacct Accounts Receivable Software? Processing payments. Click Post Payment.

Credit and Collections 72

Credit and Collections DSO Invoice Collections Default 72

NorthOne

MAY 3, 2023

On the other hand, an effective invoice processing system can streamline your financial operations, reduce costs, and improve your cash flow. We’ll also discuss the benefits of automating your invoice processing and provide tips for optimizing your process to maximize efficiency and minimize errors. What is invoice processing?

Small Businesses 52

Small Businesses 52

Gaviti

MARCH 21, 2023

Proper accounts receivable management is vital if you want to operate a healthy business. It doesn’t matter how much in sales you generate if you never collect on your invoices, or if you keep losing vital invoices you are meant to collect on. Do you need help overcoming accounts receivable challenges in your company? Make payment easy.

Payment Portals 78

Payment Portals DSO Alternative Payment Methods Dashboards 78

NorthOne

MAY 2, 2023

Every time you purchase a product or service for your business, you’ll receive an invoice that must be processed and paid on time to avoid late fees and stay in the black. Thankfully, there are automated solutions that can make the process easier. This is where effective invoice management comes in. What is invoice management?

Credit Card Payments 52

Credit Card Payments Small Businesses 52

Onguard

AUGUST 9, 2023

By now, almost all companies are engaged in large-scale transformation from analogue to digital data, process automation and cost savings. Moreover, AI is able to perform work processes independently and, combined with data, automate tasks. The digital revolution has drastically changed the world around us.

Credit Management 52

Credit Management Credit and Collections Invoice Amount DSO 52

Abrigo

MARCH 24, 2023

A credit union can use more sophisticated software to automate the risk assessment detail. Best practices for your BSA/AML risk assessment Learn top tips for creating a risk assessment to capture your credit union's risk. You might also like this resource: "BSA/AML risk assessment checklist."

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Credit Unions Cybersecurity Credit and Collections Transactions 78

The Red Spectrum

MAY 11, 2023

You’ll have the information and resources you need to improve your cash flow, optimize your vendor management procedures, and fortify your professional connections by the time you finish reading this blog. This might involve using automated payments, setting reminders, and prioritizing payments based on vendor relationships.

Small Businesses 94

Small Businesses Credit Scoring 94