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

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

Your Virtual Credit Manager

FEBRUARY 13, 2024

Historically, business failures increase after a recession. 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. Please feel free to share this newsletter with your small business customers.

Bankruptcy 130

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

Your Virtual Credit Manager

DECEMBER 19, 2023

If you are an executive at a small or mid-sized business, chances are you are in the process of putting together a budget for 2024, or have already done so. 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.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Abrigo

APRIL 25, 2024

Recent data and trends of the small business lending market SMB Lending Insights is a snapshot of current financial trends and metrics that impact small and medium-sized business (SMB) lending and financial institutions. You might also like this guide for smarter, faster small business lending.

Small Businesses 88

Small Businesses Credit Unions Credit Risk CECL 88

Abrigo

MAY 2, 2024

Boost your small business lending efforts from the bottom up Small businesses play a crucial role in our economy, and one of the critical factors in their success is access to funding. You might also like this guide for smarter, faster small business lending.

Small Businesses 88

Small Businesses Credit Risk Credit Unions CECL 88

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

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

biz2credit

MAY 14, 2024

In this article, we cover: What is Credit Card Processing? Does My Business Need Credit Card Processing? Best Credit Card Processing Companies for Small Businesses When it comes to running a business, cash may be king, but plastic dominates most transactions.

Small Businesses 59

Small Businesses Transactions 59

SAP Credit Management

SEPTEMBER 12, 2023

The speed of business transformation has been hastened by a few key disruptors. Cloud Platforms are the current technical backbone where business solutions, procedures, data, customizations are orchestrated and implemented, utilizing API, Microservices, and so on, enabling the 360° Clean Core approach.

Process Mining 186

Process Mining Credit and Collections Transactions 186

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. If you’re trying to decide whether you should accept credit card payments, it’s never been easier. 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

Your Virtual Credit Manager

MAY 30, 2023

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. Today, businesses still have to deal with those two modes as well as all the different types of EFT and the various ways remittance advice is transmitted.

Electronic Funds Transfer 130

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

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 89

Credit Management Credit and Collections 89

SAP Credit Management

JANUARY 3, 2023

Business Partners are governed and maintained in the SAP MDG hub environment, however, there are a few roles like Credit Management which SAP does not fully support in MDG. The OTC team updates the BP by adding Credit Management role UKM000 in the SAP S/4 environment. Motivation. And make sure it’s Active.

Credit Management 141

Credit Management Transactions 141

SAP Credit Management

SEPTEMBER 7, 2023

Business Requirement From 1st January 2014, companies in France are legally required to export their accounting transaction data for a fiscal year. Solution : SAP Data Retention Tool (DART) functionality can be used in order to fulfill legal requirement of the Article A.47 This ‘FEC’ file is described by article L. Following Article A.47

Transactions 190

Transactions 190

SAP Credit Management

JANUARY 3, 2023

Renewable Identification Numbers (RIN) are credits generated from the production or use of qualifying RF. Picture Credit: www.epa.gov. Industry Business Process. OGC receives RIN Credits that are attached to the fuel. Once this is done, these RIN Credits are retired. Industry Business Process.

Transactions 156

Transactions 156

lsq

MAY 6, 2024

May 6, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated twin $1 million accounts receivable finance facilities ($2 million total) for sister software firms offering access management SAAS solutions for numerous industry verticals. ORLANDO, Fla.

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52

SAP Credit Management

JULY 21, 2023

Background: As part of SAP’s portfolio engagement, the Innovation Office has collaborated with VISA to create a new B2B payment solution for SAP customers. Our collaboration involved developing a B2B payment service running on SAP BTP (Business Technology Platform). These interviews were conducted online using Zoom.

Credit and Collections 159

Credit and Collections Small Businesses 159

SAP Credit Management

AUGUST 13, 2023

In today’s fast-paced business landscape, achieving operational efficiency and delivering exceptional customer experiences are paramount. Recognizing this, SAP Signavio introduces its cutting-edge solution: Journey-to-Process Analytics. Collaborative design and modeling unite teams, blending operational and experience data.

Process Mining 148

Process Mining Credit and Collections 148

Accounting Department

APRIL 30, 2024

Fyle provides a software solution that empowers small businesses to effortlessly access their corporate credit card transaction data, granting them enhanced insight into employees' expenditures in real time.

Transactions 67

Transactions Small Businesses 67

lsq

APRIL 29, 2024

(April 30, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $20 million account receivable credit facility for an Ohio-based aerospace tooling and precision assemblies manufacturer. The company was referred to LSQ by a wealth management advisor. Learn more at www.lsq.com.

Credit and Collections 52

Credit and Collections Bankruptcy Credit Management 52

lsq

APRIL 30, 2024

May 1, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3.5 million accounts receivable credit facility for a staffing firm specializing in hospitality and IT. About LSQ | lsq.com LSQ is a market leader and pioneer in working capital finance and payments solutions.

Credit and Collections 52

Credit and Collections Bankruptcy Credit Management 52

Due

APRIL 15, 2024

America’s small businesses face unprecedented challenges. Small business bankruptcy filings increased 78% over the past year, driven by impending changes to bankruptcy law and ongoing uncertainty about the overall economic outlook. As a business owner, you indeed wish things could be easier. Not sure where to begin?

Small Businesses 84

Small Businesses Bankruptcy Credit and Collections Business Bankruptcy 84

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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Collenda

APRIL 9, 2024

Aryza Group Appoints Kevin O’Neill as Chief Revenue Officer Aryza Group, a leading provider of financial software solutions, announces the appointment of Kevin O’Neill as its Chief Revenue Officer. Previously, he has held senior roles at Fenergo and RBC, bringing a wealth of expertise to Aryza’s team.

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Due

APRIL 29, 2024

As a business leader in this economy, you know that the best way to retain top talent is not to lose it in the first place. They come in five packages: equity liquidation options, financial wellness platforms, student loan repayment solutions, earned wage access platforms, and healthcare financing platforms.

Deductions 75

Deductions Small Businesses 75

lsq

APRIL 9, 2024

Qwil is LSQ’s early-payment embedded finance solution for staffing suppliers. As the economy continues to evolve and credit gets tighter, working capital becomes more important than ever,” said LSQ Chief Operating Officer Richard Lee. ORLANDO, Fla.

Credit and Collections 52

Credit and Collections 52

lsq

APRIL 9, 2024

Qwil is LSQ’s early-payment embedded finance solution for staffing suppliers. As the economy continues to evolve and credit gets tighter, working capital becomes more important than ever,” said LSQ Chief Operating Officer Richard Lee. ORLANDO, Fla.

Credit and Collections 52

Credit and Collections 52

Eagle Business Credit

MAY 9, 2024

Running a small business is a challenging endeavor, often fraught with hurdles that test the resilience and adaptability of an entrepreneur. While traditional bank loans are often the go-to source for business financing, the stringent credit requirements and lengthy approval processes can be a deterrent for many.

Small Businesses 52

Small Businesses Credit Scoring Credit Card Payments Default 52

TreviPay

NOVEMBER 20, 2023

The past few years have been tough for businesses of all types. B2B companies have struggled to meet the digital desires of today’s business buyers, who have been spoiled by the ease of B2C purchasing experiences. Business buyers have identified a B2B trend that they don’t like: slow onboarding. average of 2.2

Credit and Collections 105

Credit and Collections Transactions Credit Application 105

NorthOne

APRIL 19, 2024

Does your business ever experience temporary cash flow gaps or unexpected expenses? A business line of credit might be the solution you’re looking for. The post The 16 Pros and Cons of a Business Line of Credit appeared first on NorthOne Blog. Unlike a traditional loan that provides.

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lsq

APRIL 17, 2024

(April 17, 2024) – LSQ, a leading provider of working capital finance and payments solutions, recently originated a $15 million invoice finance facility for a Florida-based distributor of cellular phones and other personal electronic devices. This opportunity presented a unique set of challenges due to the foreign ownership of the U.S.

Credit and Collections 52

Credit and Collections Bankruptcy 52

Know-It Global

MAY 15, 2023

We had a great time talking to new and existing clients whilst showing new audiences how Know-it helps businesses mitigate credit risk, reduce debtor days and boost cashflow. Know-it helps accountants and bookkeepers better serve their clients by allowing them to automate their complete credit control process. What’s in-it?

Credit and Collections 98

Credit and Collections Credit Risk Credit Management 98

Know-It Global

FEBRUARY 7, 2023

Know-it, the all-in-one credit management solution, has today announced a new partnership with Swoop to bring Invoice Finance-it to the cloud-based platform. Invoice Finance-it is a lifeline as businesses will be able to access cash they need quick and seamlessly.”

Credit and Collections 98

Credit and Collections Credit Risk Credit Management 98

ForwardAI

SEPTEMBER 28, 2023

There's no doubt that faster payment solutions are on the rise, but are all "instant" payment solutions as speedy as they claim? Dive in and uncover the truth behind the myth of "Instant ACH," and learn why the right payment solution can supercharge business growth. Is It the New 'Cash App' for Small Businesses?

Credit Unions 99

Credit Unions Small Businesses Transactions 99

Abrigo

DECEMBER 22, 2023

The most-read lending & credit blogs in 2023 Probability of default, CECL model validation, and stress testing were among Abrigo's top blogs on ALM, CECL, and portfolio risk this year. download NOW Takeaway 1 The most popular blog posts on the Abrigo site reflect many of the priorities community banks and credit unions had in 2023.

Credit Risk 88

Credit Risk Credit Unions Dashboards CECL 88

Know-It Global

DECEMBER 20, 2023

January Starting The Year On A High With The Addition Of Chris Anderson Chris joined Know-it in the new year as Group Commercial Director, to drive the UK and International growth plans for the business. Running at peak times during May, our aim was to build brand awareness and educate viewers on the all-in-one credit control platform.

Credit and Collections 105

Credit and Collections Debt Collections Credit Management Credit Risk 105