RMAi Blog

AUGUST 13, 2024

Louis, MO August 12th – Credit Control, LLC (“Credit Control”) is proud to announce for the fifth year in a row, our employees have ranked us as winners in the Best Places to Work in Collections program. Credit Control was proud to be recognized by our team members, Best Companies Group, and ACA International.

Credit and Collections 130

Credit and Collections 130

Chaser

SEPTEMBER 6, 2024

Delighted to share that Chaser has been shortlisted for the Best Use of Technology in Credit & Collections award at the 2024 Credit & Collections Technology Awards.

59

59

Your Virtual Credit Manager

NOVEMBER 12, 2024

Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. 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. Share Read more

Chapter 11 130

Chapter 11 Accounts Receivable (AR) Bankruptcy Credit and Collections 130

RMAi Blog

JULY 30, 2024

PETALUMA, CA — Cascade Receivables Management, LLC, part of the Cascade365 Family of Companies (“Cascade”), is proud to announce that it was recently selected as one of the 2024 Best Places to Work in Collections by ACA International and the Best Companies Group. This year, 38 companies met the standard to be selected.

Third Party Collections 130

Third Party Collections Law Firms Credit and Collections 130

Gaviti

FEBRUARY 18, 2024

Even with the most streamlined and automated A/R management process and B2B collections best practices , customers don’t always pay on time. At this point, your business should move from handling the invoice in-house to managing it through one of the debt collection outsourcing services listed below. billion by 2025 in the U.S.

Debt Collections 52

Debt Collections Credit and Collections Days Sales Outstanding Invoice to Cash 52

Onguard

JULY 25, 2024

Earlier in 2024, we surveyed 300+ CFOs and financial professionals in the Netherlands to study how they view current technology trends and their impact on the finance sector. 3 DSO on the rise in Europe A high Days Sales Outstanding (DSO) means that it takes longer for a company to collect money from its customers after making a sale.

Credit Management 52

Credit Management DSO Days Sales Outstanding Credit and Collections 52

Your Virtual Credit Manager

NOVEMBER 5, 2024

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. For the most part, the customer service team only addressed collection issues when a customer placed a new order, which was woefully inadequate.

Accounts Receivable (AR) 130

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

Chaser

JUNE 19, 2024

Pleased to share Chaser has won the Best Technology Provider (Collections) award at the 2024 Credit Strategy Awards.

Credit and Collections 52

Credit and Collections 52

Gaviti

NOVEMBER 4, 2024

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. It should collect data about disputes over time to deliver insights about customer trends, behavior, and track dispute times. A/R Analytics.

Credit and Collections 52

Credit and Collections Invoice to Cash DSO Payment Portals 52

Gaviti

OCTOBER 10, 2024

For example, autonomous A/R software automates the generation of recurring invoices and remittance, allowing finance teams to focus on collecting invoices from customers that can best optimize and accelerate their company’s cash flow. Automating manual tasks eliminates human error while allowing staff to focus on higher-value tasks.

Invoice to Cash 52

Invoice to Cash Credit and Collections DSO Payment Portals 52

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

RMAi Blog

OCTOBER 4, 2024

On October 1 st , 2024, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced actions to reduce the burden of medical debt and address medical debt collection practices in a coordinated event with the White House. Collecting amounts not owed due to Federal or State law.

Medical Billing 130

Medical Billing Collector Debt Collections Credit and Collections 130

Gaviti

JULY 3, 2024

In addition, many conferences for finance professionals also allow attendees to gain credits towards continuing education, a requirement for keeping their certifications valid. Make better credit decisions, lower DSO, and reconcile payments with near perfection. Schedule a demo to learn more. Schedule a Product Demo 3.

Credit and Collections 52

Credit and Collections Credit Unions Shared Service DSO 52

Know-It Global

OCTOBER 28, 2024

The month of October marks National Women’s Small Business Month 2024, and it is only right that we shine a light on Know-it as a female founded business! The post Celebrating National Women’s Small Business Month 2024: A Female Founded Trailblazer in Commercial Debt Recovery appeared first on Know-it.

Small Businesses 59

Small Businesses Debt Collections Credit and Collections 59

Know-It Global

JUNE 13, 2024

However, with technology-driven solutions like Chase-it, businesses now have a powerful ally in streamlining the debt collection processes and unlocking new levels of efficiency. By harnessing the power of automation, Know-it empowers businesses to revolutionise their debt collection efforts and achieve faster, more effective results.

Debt Collections 81

Debt Collections Credit and Collections 81

aptic

OCTOBER 2, 2024

New figures show that debt collection claims are rising in Sweden. When unpaid invoices are sent to debt collection, companies are faced with liquidity problems and an overloaded finance department that finds it difficult to handle the increased debt collection demands and daily work.

Debt Collections 52

Debt Collections Credit and Collections 52

Onguard

JULY 8, 2024

This is according to the FinTech Barometer, the annual survey by credit management software specialist Onguard, for which 304 CFOs, finance managers and finance staff were surveyed. 21 percent do already use dedicated credit management software. But this does not mean that credit management will become less important.

Credit and Collections 52

Credit and Collections Credit Management 52

RMAi Blog

SEPTEMBER 25, 2024

On September 24, 2024, Governor Gavin Newsom signed into law three consumer protection bills aimed at medical debt, commercial debt, and enforcement of money judgments. RMAI encourages its members that collect on accounts owed by California consumers to share this information with their legal, compliance, and operations employees.

Credit Reporting Agencies 130

Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

Chaser

JANUARY 9, 2024

billion in collected payments in 2023 - the landscape of credit management is evolving. According to The Late Payment Report (2022 ), 61% of businesses rely on phone calls in their credit management process, as direct calls can expedite payment resolutions.

Credit and Collections 64

Credit and Collections Credit Management 64

Your Virtual Credit Manager

JUNE 18, 2024

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. That’s why it is standard to ask on a credit applications the year in which the business was formed. Do you need help managing credit and collections?

Bad Debt 100

Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

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. percent in 2024 — that’s roughly one in twelve. For more on credit evaluations, check out this post. Here’s more on setting credit limits.

Bankruptcy 130

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

Abrigo

FEBRUARY 14, 2023

You might also like this checklist for preparing for the CFPB 1071 rule DOWNLOAD Takeaway 1 Bank and credit union executives are worried about complying with the CFPB's upcoming final rule on small business loan application data. Visit CFPB 1071 resources for lenders for more on data collection requirements for small business lending.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Gaviti

AUGUST 4, 2024

Make better credit decisions, lower DSO, and reconcile payments with near perfection. Best Cash Application Software List Here is a list of the best cash application software solutions we’ve found in 2024 so you can choose the right one for your business. Schedule a demo to learn more. Single and multi-bank connectivity.

Cash Applicator 52

Cash Applicator DSO Payment Portals Automated Cash Application 52

RMAi Blog

SEPTEMBER 26, 2024

September 25, 2024 – Continental Service Group, LLC d/b/a ConServe, a prominent leader in the collections industry, is excited to announce the addition of Matthew Rehnelt to their Sales Department as the Director of Business Development. Bringing 15 Years’ Experience in Client and New Product Development Rochester, N.Y.

Credit Unions 130

Credit Unions Credit and Collections 130

RMAi Blog

AUGUST 22, 2024

RMAI expanded its scope to include collection agencies, law firms, brokers, and most recently vendors, recognizing their individually diverse roles within the receivables management ecosystem. Announced in early 2024, as of March 1, the BBB National Programs will independently administer the Remediation Committee for RMAI’s RMCP.

Law Firms 147

Law Firms Credit and Collections Debt Collections Transactions 147

Know-It Global

AUGUST 16, 2023

Scottish FinTech Know-it has revealed it will enter the Australian market in 2024, as part of its global expansion strategy. This strategic move aims to deliver Know-it’s credit management solution to the Australian market, ensuring that Australian SMEs have access to the platform to effectively manage their credit control process.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Your Virtual Credit Manager

JULY 9, 2024

When you agree to sell to a business customer on open credit terms, common practice involves setting a credit limit aligned to the payment terms you are granting. New to collections? Please consider attending Introduction to Business/Commercial Collections on Tuesday, July 16 at 1:30 PM EDT. annualy, forever.

Credit and Collections 130

Credit and Collections Credit Management Invoice Amount Small Businesses 130

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Your Virtual Credit Manager

APRIL 23, 2024

” (Photo by Devon MacKay on Unsplash ) This applies to credit and collections as well as anything else. Credit analysts should also review past decisions to improve their future performance regarding approvals, limits and term setting. The good news is that until May 1, 2024, annual subscriptions are only $29.40.

Bankruptcy 130

Bankruptcy Chapter 11 Credit and Collections Collector 130

Your Virtual Credit Manager

JULY 2, 2024

Moreover, if you are trying to collect from a small business, you may have to deal with the owner, who will have a lot on their plate in addition to their debt to your company. New to collections? You should attend Introduction to Business/Commercial Collections on Tuesday, July 16 at 1:30 PM EDT. annualy, forever.

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 130

Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Your Virtual Credit Manager

SEPTEMBER 26, 2023

Suppliers, lenders, and credit rating agencies place substantial importance on these numbers when assessing your liquidity and overall financial strength. Their assessments of your business based in large part upon these metrics will determine your credit limits, collateral requirements, lines of credit and borrowing capacity.

Credit and Collections 147

Credit and Collections Accounts Receivable (AR) Deductions Collector 147

RMAi Blog

OCTOBER 18, 2024

As Director of Business Development at National Credit Adjusters, LLC , my involvement with the Receivables Management Association International (RMAI) has been important to my career in receivables management and greatly beneficial to the success and continual improvement of our industry and collective industry organizations.

Law Firms 130

Law Firms Credit and Collections 130

Gaviti

FEBRUARY 5, 2024

This release features the innovative Cash Application module, significant Credit Management enhancements, and the introduction of Gaviti Pay – a versatile payment gateway for streamlined, secure transactions. Pre Collection” Status : Enhanced internal Invoice Approval Feature.

Cash Applicator 52

Cash Applicator Dashboards DSO Credit and Collections 52

Credit Management Group UK

MAY 15, 2024

**June 2024 flash sale** Collection Performance £130 + vat per person Running w/c 24th June 2024 Our Improving Cash Flow courses are beneficial to those new to collections, with no formal training, or to those who view the course as a refresher in credit control, wishing to improve and develop their collection techniques.

Credit and Collections 75

Credit and Collections Credit Management 75

Reorg Blog

SEPTEMBER 23, 2024

Cooperation agreements, designed to strengthen creditors' collective bargaining power against borrowers, have recently gained prominence in Europe.

52

52

Your Virtual Credit Manager

APRIL 9, 2024

In such a time of easy money, receivables management becomes less critical and credit policies tend toward laxity. Now that interest rates are higher, it is time for companies to reset their credit policies in order to adjust to the current interest rate environment. Where Are Interest Rates Headed?

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Credit Card Payments Default 130