Remove 2020 Remove Credit Application Remove Deductions
article thumbnail

How Are Your Customers Doing?

Your Virtual Credit Manager

We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.

Bad Debt 130
article thumbnail

7 Strategies to Reduce DSO and Enhance Cash Flow

Gaviti

For example, the global average DSO in 2020 was 66 days, but many industries were higher (e.g. Integrate with external credit rating agencies and other reputable sources to gain better understanding of the creditworthiness of your customers and prospective customers. Disputes and deductions. Cash application.

DSO 52
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Retirement Plans in 2023: Choosing the Right Account

Due

According to a 2020 survey by the Society for Human Resource Management, only 51% of companies automatically enroll new or existing employees in 401(k) plans. The contributions you make to a traditional IRA are tax-deductible if you don’t have a retirement plan through work. don’t have access to retirement plans at work.

article thumbnail

Twenty Action Priorities for Credit & Collections Managers

Trade Credit & Liquidity Management

Improve Credit Onboarding Automation and Controls: Provide a customizable credit application portal for new accounts that requires the documentation and an appropriate customer credit application to be completed fully and accurately prior to submission to the credit department. Twenty Action Priorities 1.