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. For a masterclass on Strategic Collections , join David Schmidt online November 19, 2024, at 1:30 PM EDT. Register Do you need help improving cash flow?

Chapter 11 130

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

Abrigo

JUNE 28, 2024

Prepare with this checklist: 4 Areas to check before bank and credit union exams. DOWNLOAD Strategies for 2024 Key components of managing interest rate risk These five areas of focus can help financial institutions improve their standing and prepare for the future. Upcoming exam?

CECL 78

CECL Credit Unions Credit Risk 78

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.

Chapter 11 100

Chapter 11 Bad Debt Accounts Receivable (AR) Chapter 7 100

Abrigo

NOVEMBER 13, 2024

As rates stay high, concerns about credit risk and borrower health are top of mind for bank and credit union leaders, especially as it relates to lending to small businesses. Early 2024 figures show a dip in DSCR to 4.62x. However, recent data from Abrigo shows that privately held companies across the U.S.

Small Businesses 88

Small Businesses Credit Unions Credit Risk Accounting Firms 88

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

Abrigo

DECEMBER 20, 2024

Based on comments from the Abrigo Advisory Services team and our bank and credit union clients, executives will have their work cut out to manage profitability, balance sheet growth, and credit risk. Still-elevated interest rates are running into declining consumer purchasing power, which stands to add pressure to credit risk.

Credit Unions 78

Credit Unions CECL Credit Risk 78

Abrigo

APRIL 25, 2024

Takeaway 3 With lower interest rates nowhere in sight, lenders need to monitor and adjust lending and underwriting strategies based on their own institution’s credit risk profile. Almost half sought credit to grow their businesses, and 28% applied to make repairs or replace capital assets. 1 appeared first on Abrigo.

Small Businesses 88

Small Businesses Credit Unions Credit Risk CECL 88

Abrigo

DECEMBER 28, 2023

Papers, infographics on risk management Resources related to banking headlines were popular For banking risk and accounting staff, managing challenges tied to interest rates, liquidity, and credit portfolios will remain top-of-mind in 2024. The popularity of this whitepaper on stress testing, then, is understandable.

CECL 88

CECL Credit Unions Credit Risk Transactions 88

Know-It Global

DECEMBER 20, 2023

May We H-it London For Accountex We had a great time talking to new and existing clients whilst showing new audiences how Know-it helps businesses mitigate credit risk, reduce debtor days and boost cashflow! We are excited to be heading back to Accountex in May 2024 to exhibit at an even bigger stand!

Credit and Collections 105

Credit and Collections Debt Collections Credit Management Credit Risk 105

Gaviti

OCTOBER 10, 2024

For example, finance teams might apply it towards cash flow forecasting, credit risk assessment and identifying the best investment opportunities. The post Best 5 Autonomous Finance Tools for 2024 appeared first on Gaviti. Predictive analytics. Schedule a demo to learn more. Speak to a specialist today!

Invoice to Cash 52

Invoice to Cash Credit and Collections Payment Portals DSO 52

Abrigo

FEBRUARY 16, 2024

Preparing your credit administration for the next cycle Financial institutions should consider these tips for maintaining an efficient credit process throughout the year. You might also like these on-demand webinars tackling common credit risk questions. Discover options for loan policy review assistance.

CECL 78

CECL Credit Risk Credit Unions 78

Abrigo

FEBRUARY 14, 2024

In AGC’s 2024 outlook report , 64% of contractors named rising interest rates and financing costs as one of their biggest concerns. Given the importance of cash flow management in construction, these pressures may point to underlying construction lending risks that may outweigh returns. Stay up to date with CRE advice.

CECL 78

CECL Credit Risk Credit Unions 78

Abrigo

APRIL 22, 2024

The Fed’s latest Small Business Credit Survey , conducted in 2023 and released in 2024, found that nearly 60% of employer firms had sought financing in the previous 12 months. Almost half sought credit to grow their businesses, and 28% applied to make repairs or replace capital assets.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Abrigo

JULY 20, 2024

Pruis Examining federal Call Report data from 2016 to Q1 2024 for banks with assets of $70 billion or less, Cornerstone found that only one in 10 institutions that started in 2016 with less than 18% of its portfolio in C&I was able to increase that percentage by 2023. What will need to change for solid commercial credit analysis ?

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Abrigo

OCTOBER 10, 2023

How industry analysis can improve your credit risk management Understanding your customers' businesses leads to better loan pricing, structure, and risk management. You might also like this webinar series, "Tackling common credit risk questions during challenging times." Get more credit risk best practices.

CECL 78

CECL Credit Risk Credit Unions Small Businesses 78

Abrigo

OCTOBER 17, 2023

According to the OCC, examiners should "determine the suitability of governance processes, including acquisition or retention of qualified staff, when the board or management undertakes significant changes" related to: M&A System conversions Regulatory requirements The implementation of new, modified, or expanded products and services (such as (..)

Credit Unions 78

Credit Unions CECL Credit Risk Dashboards 78

Abrigo

MARCH 14, 2024

Perhaps they might aim to reduce inventory to 80 days by the end of the first quarter of 2024. For example—perhaps you have a manufacturing customer with a 90-day inventory turnover, while the industry average is 60 days. This excess inventory could be costing them significant amounts of money. Read the buyer's guide to lending solutions.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

NOVEMBER 17, 2023

Credit spreads can be two to three hours faster per loan when credit risk software auto-imports financial data from the individual’s bank accounts and automatically creates a personal financial statement. The analyst can focus on analyzing large, complex scenarios rather than data entry and spreadsheets.

Credit Unions 88

Credit Unions CECL Credit Risk Credit and Collections 88

Your Virtual Credit Manager

OCTOBER 29, 2024

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’ credit risks? To receive new posts and support my work, please subscribe for just $5 per month ($49 yearly).

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

Abrigo

MAY 30, 2023

1, 2024, and report for the first time by June 1, 2025. 1, 2024, is the earliest compliance deadline. Despite the seemingly long runway to prepare, it's not too early to get a handle on the new requirements and how they will affect a bank or credit union. Talk to a specialist to learn more.

Credit Unions 78

Credit Unions Credit and Collections Transactions Small Businesses 78

Your Virtual Credit Manager

JUNE 18, 2024

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.

Bad Debt 100

Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

Loomis Sayles Credit Research

APRIL 25, 2024

The process culminates in a forum that combines our credit analysts and top-down global macro strategists to discuss the CANDIs' output through the lens of the credit cycle. These indices measure our analysts' assessment of the credit outlook and odds of a crisis in the industries they cover, respectively.

Credit Risk 67

Credit Risk 67

Your Virtual Credit Manager

JULY 2, 2024

These account provide a serious credit risk, and should not be approved for open credit terms. When an otherwise good customer because a habitual debtor, their credit limit should be revoked. Recovering what you are owed by this type of debtor requires an aggressive, though still professional, collection effort.

Collector 130

Collector Debt Collections Credit and Collections Past Due Invoices 130

Abrigo

FEBRUARY 14, 2023

That timeline would put the compliance deadline around October 2024. Whitepaper Lending & Credit Risk Loan Origination System How Many of These Origination Frustrations Can Your Financial Institution Avoid? Compliance would be required 18 months after the final rule is published. The final rule is expected by March 31, 2023.

Small Businesses 78

Small Businesses Credit and Collections Credit Unions Credit Risk 78

Your Virtual Credit Manager

APRIL 30, 2024

except if they enable you to secure an additional customer whose business is contributes significant profits, and whose credit risk is low. The good news is that until Wednesday May 1, 2024, annual subscriptions are only $29.40. Your credit agreement should include the assessment of late charges on past due balances.

Credit and Collections 100

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

Abrigo

MAY 22, 2024

The Fed’s latest Small Business Credit Survey , conducted in 2023 and released in 2024, found that nearly 60% of employer firms had sought financing in the previous 12 months. Almost half sought credit to grow their businesses, and 28% applied to make repairs or replace capital assets.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Abrigo

NOVEMBER 13, 2023

Takeaway 3 Utilize guidance lines to streamline the approval process for customers with fluctuating credit needs Fine-tune annual review Keeping annual review simple Annual loan reviews are a critical component in monitoring the health of a credit after it is initiated. How Strengthen your risk rating system.

CECL 78

CECL Credit Risk Transactions 78

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. To continue reading and learn six financial markers that suggest a customer’s business is headed in the wrong direction, you must be a paid subscriber to Your Virtual Credit Manager.

Sub-Chapter V 100

Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Abrigo

JUNE 27, 2024

Show your board of directors and leadership an outline of what it will take to prepare for FedNow at your institution. Show your board of directors and leadership an outline of what it will take to prepare for FedNow at your institution.

Transactions 88

Transactions CECL Credit Unions Credit Risk 88

Abrigo

AUGUST 5, 2024

Modern check fraud detection software enhances check verification processes with several sophisticated tools Introduction Why counterfeit check detection matters in 2024 Financial fraud is becoming more sophisticated in today's world, and counterfeit checks and duplicate check deposits are significant threats.

Credit Unions 78

Credit Unions CECL Cybersecurity Credit Risk 78

Know-It Global

FEBRUARY 26, 2024

We are excited to announce our first platform update of 2024! Your business can sign up to Know-it in seconds and implement a robust credit management process that will save time through automation. Know-it now integrates with Sage 50.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Biz2X

JULY 17, 2024

Reading Time: 4 minutes As the Head of Credit Risk at Biz2credit and Biz2X, I manage a team of risk and data science processionals across North America and India, focusing on credit and price decisioning, automation and efficiency in customer journey, and portfolio risk management.

Credit Risk 52

Credit Risk Small Businesses Default 52

TreviPay

OCTOBER 22, 2024

The A/R Aging Report is commonly used during routine financial reviews, audits, and credit risk assessments. Its primary value lies in helping businesses identify overdue accounts, manage cash flow, and make informed decisions about offering credit terms to clients. When Is an Accounts Receivable Aging Report Used?

AR Aging 40

AR Aging Credit and Collections Credit Risk Transactions 40

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.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52

Emagia

SEPTEMBER 27, 2023

A majority of credit leaders who spoke on site at the Gateway Conference with representatives from Emagia noted that their companies had either begun integrating AI into their credit and finance operations or were actively exploring solutions to implement by early 2024.

B2B Credit 52

B2B Credit Credit and Collections Order to Cash Cash Applicator 52

Abrigo

SEPTEMBER 17, 2024

Strategies for 2024 Key components of managing interest rate risk These five areas of focus can help financial institutions improve their standing and prepare for the future. Dave Koch , Director of Abrigo Advisory Services, shared valuable insights on this topic during a recent episode of Ahead of the Curve: A Banker’s Podcast.

CECL 88

CECL Credit Unions Credit Risk 88

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.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52