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Monitoring and evaluating the creditrisk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. Your Virtual CreditManager is a reader-supported publication. Learn More About Credit Reports Please share this newsletter with your small business customers.
Your Virtual CreditManager is a reader-supported publication. For an Introduction to Business/Commercial Collections, join David Schmidt online November 12, 2024, at 1:30 PM EDT. Webinar Registration Do you need help assessing your customers’ creditrisks?
The Altares report reveals a record explosion in insolvencies in 2024, accentuating non-payment and insolvency risks. The challenges for CreditManagement and key strategies for securing receivables.
When we first think about creditrisk, our minds focus on the financial status of the company in question. To manage the risk that a customer might default, companies implement credit and collection policies and procedures. Your Virtual CreditManager is a reader-supported publication.
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.
(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.
March Our First Customer Success Manager – Clara Gobrecht With more and more subscribers on our amazing creditmanagement platform every day, Clara was introduced officially as Know-it’s first customer success manager who is on hand to give support to our users to help them get the most out of the Know-it platform!
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 creditmanagement solution to the Australian market, ensuring that Australian SMEs have access to the platform to effectively manage their credit control process.
These account provide a serious creditrisk, and should not be approved for open credit terms. When an otherwise good customer because a habitual debtor, their credit limit should be revoked. Do you need help managingcredit and collections? annualy, forever. that’s nearly a 30% discount!
A/R solutions in particular streamline each aspect of accounts receivable, from collections to creditmanagement, cash application and disputes and deductions. For example, finance teams might apply it towards cash flow forecasting, creditrisk assessment and identifying the best investment opportunities.
The risk of failure diminishes as businesses mature and grow, but the problem for any business selling other firms on open terms is the high number of organizations that are relatively young. That’s why it is standard to ask on a credit applications the year in which the business was formed.
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 CreditManager has already covered this topic from several different perspective. Subscribe now Do you need help assessing customer creditrisks?
except if they enable you to secure an additional customer whose business is contributes significant profits, and whose creditrisk is low. The good news is that until Wednesday May 1, 2024, annual subscriptions are only $29.40. Learn More About Credit Reports Please share this newsletter with your small business customers.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
We are excited to announce our first platform update of 2024! Know-it CEO & Founder Lynne Darcey Quigley says, “We’re delighted to offer another integration that will enable us to help even more businesses to make more informed credit decisions to better managerisk, minimise instances of late payments and protect their cashflow.”
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based creditmanagement 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.
Know-it, a Scottish fintech that provides a cloud-based creditmanagement solution for small-to-medium enterprises (SMEs), is aiming to land in Australia in 2024 after picking up a raft of customers in the UK since its launch this year. Lynne Darcey Quigley’s Know-it platform automates payment chasing and debt recovery.
Know-it, a Scottish fintech that provides a cloud-based creditmanagement solution for small-to-medium enterprises (SMEs), is aiming to land in Australia in 2024 after picking up a raft of customers in the UK since its launch this year. Lynne Darcey Quigley’s Know-it platform automates payment chasing and debt recovery.
Know-it, a Scottish fintech that provides a cloud-based creditmanagement solution for small-to-medium enterprises (SMEs), is aiming to land in Australia in 2024 after picking up a raft of customers in the UK since its launch this year. Lynne Darcey Quigley’s Know-it platform automates payment chasing and debt recovery.
Know-it, a Scottish fintech that provides a cloud-based creditmanagement solution for small-to-medium enterprises (SMEs), is aiming to land in Australia in 2024 after picking up a raft of customers in the UK since its launch this year. Lynne Darcey Quigley’s Know-it platform automates payment chasing and debt recovery.
Governments and companies worldwide borrowed a record $25 trillion in 2024, up $10 trillion from pre-COVID levels and nearly triple the amount borrowed before the 2008 financial crisis, as reported by Bill Hinchberger in Global Finance magazine ( OECD: A World Awash In Debt ). by the end of 2024. Act Now Before It’s Too Late.
The findings result from two KPMG studies conducted in 2024. The second, conducted in September, surveyed 2,900 companies and covered broader finance functions like accounting, treasury, and riskmanagement. Last year, Onguard asked interim creditmanagers in the Netherlands to share their views on whats coming.
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