RMAi Blog

NOVEMBER 5, 2024

Are you passionate about shaping the future of the receivables management industry? RMAI is now accepting candidates for the 2025 board of directors. Serving on the board offers a unique opportunity to drive strategic initiatives, represent our members’ interests, and influence the direction of your association. RMAI is seeking qualified candidates who wish to run for a two-year term on the Board of Directors.

Third Party Collections 130

Third Party Collections 130

Your Virtual Credit Manager

NOVEMBER 5, 2024

A client, who rented heavy equipment to manufacturers and construction firms across a multi-state market area, was saddled with an accounts receivable (AR) growing faster than revenue. In other words, they weren’t collecting everything being sold. Three staff members handled both customer service and collection duties, while the Controller managed credit.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Credit and Collections Credit Management Transactions 130

RevCycle

OCTOBER 31, 2024

As healthcare continues to evolve, so do the complexities of managing the revenue cycle, with denial management being one of the most persistent challenges. Denial management is an essential component of healthcare revenue cycle management (RCM) because denials directly impact an organization’s financial health. From 2022 – 2024, the number of providers who said denials are increasing jumped from 42% to 77%.

Dashboards 198

Dashboards 198

Due

OCTOBER 31, 2024

Six men have been charged in a case involving an attempt to defraud the United States government and the Department of Defense (DOD). The defendants have been accused of rigging bids, defrauding the government, and paying bribes and kickbacks to sell IT products and services to federal government purchasers. This resulted in millions of dollars being overcharged to the U.S. government, including the Department of Defense (DOD), and resulted in swift action from the Justice Department.

Transactions 105

Transactions 105

Abrigo

NOVEMBER 4, 2024

Ongoing monitoring is more than just a regulatory requirement Suspicious activity monitoring is a cornerstone of a robust AML/CFT program, as emphasized in the FFIEC BSA Examination Manual. This critical function helps protect the U.S. financial system from misuse for money laundering, terrorist financing, and other financial crimes. Both FinCEN and federal banking regulatory agencies mandate ongoing monitoring for suspicious activity as part of the overall AML/CFT program.

Transactions 78

Transactions 78

Accounting Department

OCTOBER 30, 2024

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

Small Businesses 103

Small Businesses 103

CreditStrong for Business

NOVEMBER 1, 2024

Starting a new business can get expensive fast. Whether you’re purchasing new equipment, getting supplies, or buying inventory, it can feel like there’s not enough cash flow to make it work. In this article, we’ll make it easier on you by uncovering what to expect from government small business loans and how to prepare for them. How To Prepare To Get A Business Loan From The Government The Small Business Administration (SBA) partners with lenders, banks, and credit unions to provide loans to sma

Credit Scoring 98

Credit Scoring Credit and Collections Credit Unions Small Businesses 98

TreviPay

OCTOBER 31, 2024

Finance teams face increasing pressure to deliver faster, more accurate insights. Traditional Financial Planning and Analysis (FP&A) processes, often dependent on historical data and manual work, are struggling to keep up with modern demands. To meet these challenges, businesses are turning to AI to optimize their FP&A functions and enhance decision-making.

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Abrigo

OCTOBER 30, 2024

Increasing efficiency of compliant AML investigations To boost AML program productivity and keep pace with evolving compliance demands, financial institutions should focus on strategic operational improvements paired with the smart use of technology. Key topics covered in this post: The challenges of enhancing AML program productivity 8 Ways for financial institutions to increase the efficiency of case investigators Operational improvements & technology can increase throughput Compliance

Credit Unions 88

Credit Unions Transactions 88

Accounting Department

OCTOBER 31, 2024

In the ever-evolving landscape of business, one size rarely fits all. This is particularly true when it comes to financial management. Whether you're a burgeoning startup or an established enterprise, having a firm grasp on your finances is crucial.

Small Businesses 96

Small Businesses 96

Due

OCTOBER 31, 2024

Two men have been sentenced for their part in a scheme to launder hundreds of thousands of dollars internationally. According to a Justice Department report on the case, Li Pei Tan of Georgia and Chaojie Chen, 41, a Chinese national residing in Chicago, were the pair at the heart of the international monetary fraud. It was alleged that they were the go-to people to launder tens of millions of dollars in drug proceeds on behalf of foreign drug trafficking organizations.

Transactions 95

Transactions 95

Chaser

NOVEMBER 6, 2024

Chaser has launched a new integration with Sage 50, an established accounting software designed for small and medium-sized enterprises (SMEs). This new integration aims to help businesses using Sage 50 streamline their accounts receivable processes, reduce overdue invoices, and protect cash flow.

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Loomis Sayles Credit Research

NOVEMBER 6, 2024

The United States has finally gone to the polls, and Donald Trump has been declared the winner of the presidential election. The Republican Party succeeded in capturing the Senate, but House control remains in question with many races too close to call. It could be days before we know the composition of the House as we wait for final results. Any recounts or legal challenges would further delay the resolution of the electoral races, but at this point it seems like a sweep for the Republicans wit

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Know-It Global

NOVEMBER 5, 2024

Welcome to the month of November! The dark nights are upon us and now that Halloween is over, it seems acceptable to mention Christmas? In October we have been busy developing our internal systems to make communication with our customers even better, as well as improvements to the Know-it platform! Halloween Celebrations with the Team On Halloween we celebrated with a team party!

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Accounting Department

NOVEMBER 6, 2024

Creating a budget is essential for any business aiming for long-term success. As a business owner or CFO of a small to medium-sized enterprise, you might have faced the difficulties involved in developing and executing a budget.

Small Businesses 59

Small Businesses 59

Due

NOVEMBER 6, 2024

The gig economy is growing rapidly, accounting for 12% of the labor market. More workers are relying on freelance and contract jobs than ever before. Consequently, this shift to gig-based work brings significant changes, especially when planning for retirement. Simply put, traditional retirement structures, such as employer-sponsored pension plans, do not align well with the realities of freelance and contract work.

Deductions 52

Deductions Transactions 52

TMC Financing

NOVEMBER 5, 2024

Bridging the Gap: How the SBA 504 Loan Program Helped Edmond Group LLC Secure Their Business’s Future John and Susana Edmond, co-founders of Edmond Group LLC, a strategic communications and. The post Bridging the Gap: How the SBA 504 Loan Program Helped Edmond Group LLC Secure Their Business’s Future appeared first on TMC Financing.

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Plooto

NOVEMBER 5, 2024

Most small business owners don’t become entrepreneurs because they love managing finances. That’s why accountants and bookkeepers are so crucial to successfully running a business. Their relationship is an essential part of how SMBs achieve efficiency, scale, and control over their financial operations.

Small Businesses 52

Small Businesses 52

Cpcmcredit Blog

NOVEMBER 5, 2024

Many of you will be well aware of the recent court ruling regarding disclosure of commissions to brokers in the area of car finance. This has now reverberated around the asset finance market with perhaps a little overreaction from some lenders and a telling silence from others I know of at least one lender who is refusing to take on new business until this issue is resolved in their own minds whilst others have set in motion new procedures where by the brokers commission is advised to their clie

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Gaviti

NOVEMBER 4, 2024

Whether due to error, financial trouble or the non-delivery of goods or services, disputes are unavoidable in the world of accounts receivable. Traditionally, they are managed through a lengthy, tedious manual process that lacks visibility into the process in real time. As companies scaled and these disputes increased, however, businesses started to turn to dispute automation for a more efficient dispute management process for collections and dispute management.

Credit and Collections 52

Credit and Collections Invoice to Cash DSO Payment Portals 52

Due

NOVEMBER 6, 2024

The US Department of Labor has recovered $877K in wages and benefits for employees of New York City federal contractors. Discover Electric Inc., EMG Industrial Chimney Inc., and QNCC Electrical Contracting Corp. were embroiled in an investigation into employees who were underpaid for their work on two New York construction projects. The U.S. Department of Housing and Urban Development funded these projects.

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blue dot counseling

NOVEMBER 4, 2024

Can AI generate insights into your business that people can't? The post Do small businesses have enough data to make AI insights useful? appeared first on Blue Dot Consulting.

Small Businesses 52

Small Businesses 52

Enterprise Recovery

NOVEMBER 1, 2024

With just a few months left of the year, it's time to ensure that your business is well-prepared. Careful planning and allocation of financial resources can help your business seize new opportunities, overcome potential challenges, and achieve its growth objectives. By creating a financial roadmap that supports sustainable development and long-term success, you're positioning your business to thrive in the coming year.

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Cpcmcredit Blog

NOVEMBER 5, 2024

Im not sure whether awards have actually been given out but this site has nominated “best” invoice finance providers in. nine different categories. Here are the results 1. Kriya – Best for its straightforward, user-friendly approach 2. Growth Lending – Best for international companies 3. Skipton Business Finance – Best for its interest-free invoice finances 4.

Small Businesses 52

Small Businesses 52

Credit Tools

NOVEMBER 4, 2024

A discipline that remains little known to the general public, credit management is nevertheless at the intersection of a company's commercial and financial issues. So what is it?

Credit Management 52

Credit Management 52

Due

NOVEMBER 6, 2024

Lyft Inc. (Lyft), the vehicle-for-hire and transportation service, has been fined $2.1 million for misleading drivers about their potential earnings. The news was announced as part of a joint resolution achieved by the Justice Department and the Federal Trade Commission (FTC). Their investigation closed the civil case first filed in the U.S. District Court for the Northern District of California.

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Grit

NOVEMBER 3, 2024

Cyber Monday is a big part of the holiday shopping season, giving online stores a great chance to increase sales. In the busy online world, a good Cyber Monday banner can be the difference between grabbing a customer’s attention or losing them to another store. But what makes a banner effective for Cyber Monday? In this article, we look at the key things that make banners successful and how to use them to make more money.

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CreditStrong for Business

NOVEMBER 1, 2024

If you’re looking to buy a vehicle for your business, there are several different ways you can finance the purchase. Business auto loans and equipment loans can be a good place to start, but if your business meets the requirements for an SBA loan, that should be on your radar as well. Here’s what you need to know about SBA commercial vehicle loans, how they’re structured, and what you should expect in terms of eligibility requirements.

Credit Scoring 52

Credit Scoring Small Businesses Deductions 52

JNI Commercial Lending

NOVEMBER 1, 2024

Starting and running a small business requires more than just a great idea and entrepreneurial spirit; it requires money. In a world where competition is fierce, securing the right financing can make the difference between success and failure. Traditional bank loans may not always be the best fit for small businesses, especially when time and […] The post Creative Capital Alternatives Small Businesses Must Explore appeared first on JNI Commercial Lending.

Small Businesses 52

Small Businesses 52

aptic

NOVEMBER 1, 2024

Open banking has transformed the financial industry and the way financial services can be shared and used by multiple actors. Open finance is the next step, offering further opportunities for innovation, choice and customised financial services. We will take a closer look at what Open banking and Open finance mean and how they differ. We will also look at the challenges they can bring, and what is needed to implement Open banking and finance in a safe and successful way that attracts customers.

Credit Scoring 52

Credit Scoring Credit Risk Transactions 52