2024 Accounts Receivable (AR) Credit Management 
Your Virtual Credit Manager
NOVEMBER 12, 2024
Because most of your biggest customers will be larger firms instead of smaller, it is typically the larger firms that will require higher credit limits. Consequently, a large percentage of your accounts receivable (AR) is likely to derive from large firms. Your Virtual Credit Manager is a reader-supported publication.
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. Three staff members handled both customer service and collection duties, while the Controller managed credit.
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Your Virtual Credit Manager
OCTOBER 15, 2024
(Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.” This initial uptick is only expected to get worse.
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.
Your Virtual Credit Manager
FEBRUARY 13, 2024
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. The hospitality and retailer sectors are also expected to continue to face challenges. percent in 2024 — that’s roughly one in twelve.
Your Virtual Credit Manager
APRIL 9, 2024
There has always been a strong correlation between the cost of funds and accounts receivable (AR) management. Any delays in receiving payments from customers can, therefore, have a more pronounced effect on a company's bottom line profits.
Your Virtual Credit Manager
AUGUST 11, 2024
Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year. Chapter 7 commercial liquidation filings are up 28 percent and sub-chapter V small business elections are up a staggering 61 percent despite the filing threshold recently being cut in half.
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