Your Virtual Credit Manager

OCTOBER 29, 2024

Finding the time and resources to complete every collection activity needed to be done at the optimal time to be done is a constant challenge. Most small companies come up short because the owner or CFO have more important things to do and there isn’t a dedicated employee responsible for credit and collections.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

Onguard

DECEMBER 18, 2024

How has 2024 unfolded and what is expected for 2025? According to the latest Allianz data, 2024 is already going in the books as a record year for insolvencies , with Western Europe leading the rebound in the number of cases. The trends of today are shaping the trends of tomorrow. Did you know?

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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 Default 130

Your Virtual Credit Manager

NOVEMBER 25, 2024

Your Virtual Credit Manager is a reader-supported publication. For a masterclass on Credit Department Digital Transformation , join David Schmidt online December 3, 2024, at 1:30 PM EDT. Learn More About Credit Reports Please share this newsletter with your small business customers. Share Read more

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Credit and Collections Credit Management Default Small Businesses 130

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.

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Credit Management DSO Days Sales Outstanding Credit and Collections 52

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.

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

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

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

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.

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Bankruptcy Chapter 11 Credit and Collections Collector 130

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.

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Credit and Collections Credit Management Invoice Amount Small Businesses 130

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.

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Credit and Collections Accounts Receivable (AR) Deductions Collector 147

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?

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Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

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?

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Credit and Collections Accounts Receivable (AR) Credit Card Payments Default 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 Credit and Collections Past Due Invoices 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.

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Credit and Collections Credit Management 64

Know-It Global

DECEMBER 20, 2023

A record-breaking year for signups, over £25 million in late payments collected in platform, key hires made, awesome product updates and even a trip down under all squeezed into 1 year. Chris also works with Darcey Quigley & Co our in-app Collect-it partner! Find us exhibiting here again in April 2024. Watch our ad here.

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Credit and Collections Debt Collections Credit Management Credit Risk 105

SAP Credit Management

SEPTEMBER 17, 2023

Even before i reached i got a call from my ex colleague if i am attending the event as he was able to see my summit ID card not yet collected. He provided more values on the textile wastes and the challenges in the collection and segregation. Once again this topic was on the circular business models in the textiles.

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Your Virtual Credit Manager

DECEMBER 19, 2023

If you are an executive at a small or mid-sized business, chances are you are in the process of putting together a budget for 2024, or have already done so. Hopefully, that is why you are reading Your Virtual Credit Manager. In most cases (90 percent or more), we find the customer has a valid claim and deserves a credit.

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DSO Third Party Collections Credit and Collections Deductions 130

Know-It Global

APRIL 2, 2024

New changes have come into place in April 2024, with updated standards for Prompt Payments being introduced. As of April 1 st, 2024, there are significant changes for big businesses bidding for large government contracts. At Know-it, our platform uses automation to support small businesses with their credit control process.

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Credit and Collections Small Businesses Credit Management 104

Your Virtual Credit Manager

NOVEMBER 19, 2024

Chances are, there is a lot that needs to be done in terms of accounts receivable (AR) management between now and December 31st, especially if you are short of your Days Sales Outstanding (DSO) goals. For those twenty days when you can count on your customers being at work, you need to concentrate on making collection calls.

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DSO AR Metrics Credit and Collections Accounts Receivable (AR) 100

Onguard

JULY 8, 2024

Download the fintech baropaper Manual debtor management a reality for two in ten finance professionals Two in ten finance professionals (18%) do not use debtor management tools. The results come as a surprise as the use of pen and paper for accounts receivable management has proven significantly error-prone in the past.

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Credit and Collections Credit Management 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.

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Credit and Collections Credit Management 74

Your Virtual Credit Manager

APRIL 30, 2024

Photo by Freddie Collins on Unsplash ) Trade credit terms are intended to provide a convenience for the customer and unlike most loans are generally unsecured, in large part because they have a short term. The good news is that until Wednesday May 1, 2024, annual subscriptions are only $29.40. Net 10th Prox).

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 100

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. Your Virtual Credit Manager has already covered this topic from several different perspective. Subscribe now Do you need help assessing customer credit risks?

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

SAP Credit Management

JANUARY 22, 2023

Input data Let´s look again at the data we have collected already: In Step 4 ( described in Part 3 ) the expected outcomes have been estimated – by years, based on example of the one KPI (DII MRO). It´s also about future perspective, changing business models, adoption and overcoming to new challenges and getting all the best using new trends.

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Gaviti

JULY 3, 2024

Finding the right financial conference can help CFOs, A/R managers and financial leaders gain a better understanding of trends in the industry, network with other professionals and learn valuable new skills relevant to their specific roles. Make better credit decisions, lower DSO, and reconcile payments with near perfection.

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Credit and Collections Credit Unions Shared Service Cybersecurity 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.

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Invoice to Cash Credit and Collections DSO Payment Portals 52

RMAi Blog

MAY 12, 2023

Nat’l Credit Sys. , A debt collector unaware of the discharge, allegedly due to a bona fide error, sent several collection letters to the consumer regarding the past-due rent. 1692c(c) (failure to cease communications and cease collections) of the FDCPA.” 21-3131, 2023 U.S. LEXIS 10237 (7th Cir. EOS USA, Inc.

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Collector Credit and Collections Law Firms Debt Collections 100

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.

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Credit and Collections Credit Risk Credit Management 52

Gaviti

FEBRUARY 5, 2024

In this product release, Gaviti proudly introduces a suite of new features and enhancements, all aimed at transforming how businesses manage their accounts receivable. This integration enables Gaviti users to seamlessly and easily obtain credit reports from CreditSafe, enhancing the credit allocation decision-making process and reducing risk.

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Cash Applicator Dashboards DSO Credit and Collections 52

Gaviti

NOVEMBER 4, 2024

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.

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Credit and Collections Invoice to Cash DSO Payment Portals 52

SAP Credit Management

AUGUST 22, 2023

Aproveitem esse período (que vai até 10 de novembro de 2023 ) para ajustar os processos internos em sua empresa e preparem-se para a substituição prevista para janeiro de 2024. Durante esse período de testes, é possível acessar o FGTS Digital, enviar os eventos para o eSocial e simular a emissão de guias para conferir se está tudo certo.

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SAP Credit Management

SEPTEMBER 19, 2023

Standard Google Adapters will be delivered via Google Workspace adapter and planned for Q3 2024. Drag and drop the JSON specification and click on the import button to create the collection. Navigate to the Integration Content collection. Go through the adapter source code to understand the logic and implementation.

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Know-It Global

AUGUST 18, 2023

Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based credit management platform in Australia for 2024. Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place. “Our

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52

SAP Credit Management

AUGUST 16, 2023

This has led to a significant widening of the VAT Gap – the difference between expected VAT revenue and the amount collected. By January 1, 2024, they will no longer need to provide derogations for countries to mandate e-invoicing and can set their own national requirements.

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Transactions Small Businesses 137

lsq

MAY 30, 2024

May 30, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an aerospace manufacturer based in New Jersey. ORLANDO, Fla. The company was referred to LSQ by a former client. LSQ is headquartered in Orlando, Florida.

Credit and Collections 52

Credit and Collections Bankruptcy Credit Management 52

lsq

JUNE 18, 2024

June 17, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for a Florida-based fixed wireless internet provider. The company was referred to LSQ by a wealth management partner. ORLANDO, Fla.

Credit and Collections 52

Credit and Collections Bankruptcy Credit Management 52

lsq

MAY 30, 2024

May 30, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an aerospace manufacturer based in New Jersey. ORLANDO, Fla. The company was referred to LSQ by a former client. LSQ is headquartered in Orlando, Florida.

Credit and Collections 52

Credit and Collections Bankruptcy Credit Management 52