Remove 2024 Remove Bad Debt Remove Credit Risk
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Big Company Red Flags You Can't Afford to Miss

Your Virtual Credit Manager

Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. Sighting red flags early on allows you to mitigate these risks and reduce your potential losses. Register Do you need help improving cash flow?

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The Imperative for Prioritizing Collections

Your Virtual Credit Manager

(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.

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Get Ready for a Wave of Commercial Bankruptcies

Your Virtual Credit Manager

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. percent in 2024 — that’s roughly one in twelve. It will also help your prioritize your credit reviews as recommended in item #1.

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Use Caution Extending Credit to Startup Companies

Your Virtual Credit Manager

Photo by Muhammad Daudy on Unsplash ) The problem with startup companies: there is a high probability they will fail , leaving you with a bad debt on your books. According to the US Census Bureau , for the 12 months ending May 2024, there were 5,441,745 new business formations accounting for nearly one out of five US enterprises.

Bad Debt 100
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Industry: Media and Entertainment

Serrala

Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust. Read more Easily manage customer credit risk Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust.

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Industry: Media and entertainment

Serrala

Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust. Read more Easily manage customer credit risk Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust.

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Industry: Consumer Packaged Goods & Services

Serrala

Industry: Consumer Packaged Goods & Services nv Thu, 03/14/2024 - 09:12 Financial automation for the consumer products and services industries Book a demo Today’s consumer has access to wider markets with more options than ever. Read more Our solutions give you the power to automate processes across your credit risk management lifecycle.