Your Virtual Credit Manager

NOVEMBER 19, 2024

Now that we are past the mid-point of November, the end of the year is zooming into focus. 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. If that’s the case, collection activities should be at the top of your to do list, because any changes in credit policy and procedures will be too little too late for this year.

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

Gaviti

NOVEMBER 18, 2024

Automation delivers finance departments many benefits, including accurate predictions and insights related to revenue and sales so that CFOs and their teams can make better business decisions. Despite this, automation in accounts receivable has met its fair share of skepticism from business leaders worldwide. Some of the main concerns include change management and employee adaptability to new technologies, adherence to compliance, how easily the automation technology integrates with other financ

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Bad Debt Bad Debt to Sales Invoice to Cash Credit and Collections 97

Credit Research Foundation

NOVEMBER 15, 2024

For over 75 years the Credit Research Foundation (CRF) has supported Credit Executives in the business-to-business (B2B) world based on two primary principles: (1) provide quality, comprehensive education from “the basics” to the senior credit executive level, and (2) provide an atmosphere that fosters networking with like-minded individuals – the most influential credit and risk management professionals in the industry.

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RMAi Blog

NOVEMBER 15, 2024

A recent issue has arisen pertaining to objections to Proof of Claims in bankruptcy cases filed in the Western District of North Carolina. RMAI recommends that our members consult with their legal counsel on how best to address the issue as it pertains to their organizations. Specifically, there has been an increase in the number of objections to claims being filed in cases where there is a joint bankruptcy and particularly in cases where the property is held by the tenancy in the entireties.

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Bankruptcy 130

Abrigo

NOVEMBER 18, 2024

Prepare for regulator scrutiny on interest rate risk & liquidity Banks and credit unions that aren't paying attention to these critical issues can expect a tough review. Key topics covered in this post: Regulatory focus Key questons for ALCOs Governance and concentration risks Expect the unexpected Regulators 'could not be more clear' Today’s regulatory climate is turning up the heat on financial institutions when it comes to liquidity and interest rate risk management.

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Credit Unions 78

Accounting Department

NOVEMBER 14, 2024

Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.

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Plooto

NOVEMBER 18, 2024

Using technology to run your business is a no-brainer in this day and age. It speeds up processes, helps employees and vendors communicate efficiently, and provides fast, reliable data about all aspects of your business.

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Due

NOVEMBER 20, 2024

One of your biggest categories of expenses in retirement is going to be healthcare. Even with excellent insurance coverage and ample preventative care, you may face greatly escalating costs well into your retirement. How do you keep these costs low? And how much of an impact will this have on your finances overall? Plan for the Gaps in Medicare First, and probably most importantly, you need to prepare for gaps in your Medicare coverage.

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Abrigo

NOVEMBER 14, 2024

Be proactive with your AML/CFT program to prevent BSA enforcement actions As regulatory scrutiny intensifies, financial institutions face more frequent Bank Secrecy Act (BSA) enforcement actions from supervisory agencies. These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective.

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Credit Unions Transactions 78

Accounting Department

NOVEMBER 20, 2024

Driver-based planning is a type of management that zeros in on a company's key value drivers and key business drivers. It helps create budgeting and business plans based on these factors. The goal of this type of planning is to center on the factors that are important to fueling success. Mathematical models can be created to project business. Driver-based planning is helpful for finance executives when they are planning long-range strategic strategies.

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Credit Tools

NOVEMBER 15, 2024

We are thrilled to share an exclusive interview with Scarlett Favre-Verand, the CEO of Efficash, a consulting firm specializing in credit management. In this captivating conversation, Scarlett takes.

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Credit Management 52

Chaser

NOVEMBER 15, 2024

Over 50% of B2B invoiced sales in the US are paid late, impacting the cash flow of businesses of all scales. A demand letter for payment is a simple way to resolve these kinds of payment despites and get the money you are owed.

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Due

NOVEMBER 19, 2024

A study by the United States government found that the cost of childcare for one child can be as much as the average annual rent costs. The National Database of Childcare Prices has revealed the latest figures from a study conducted across America. The study analyzes childcare prices in 2,512 U.S. counties. The findings showed that U.S. families spend “8.9% and 16.0% of their median income on full-day care for just one child, with annual prices ranging from $6,552 to $15,600 in 2022, the most re

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Emagia

NOVEMBER 20, 2024

Robert Shultz has witnessed the remarkable transformation of the credit profession over decades. Reflecting on his career, Shultz recalls, “When I started, we were using punch cards.” Today, however, innovative technologies enable credit professionals to assess entire portfolios holistically—once an unthinkable feat. In a recent episode of Emagia’s AI for Finance podcast, Shultz, a seasoned financial executive and managing partner at Quote to Cash Solutions LLC, discussed how AI-driven technolog

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Team Financial Group

NOVEMBER 14, 2024

The road to sustainable business growth is paved with good incremental decisions. It is rare for a business to have all the resources needed to make all the improvements they want at one time. Many improvements require substantial financial investments in equipment or infrastructure, making tiny steps more affordable than giant leaps. The key is choosing steps that are both sustainable and provide greater returns on investment, accelerating the path toward future growth.

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Dashboards 52

aptic

NOVEMBER 14, 2024

What is reverse factoring? Reverse factoring is a financing solution that allows suppliers to receive early payments on approved invoices from a buyer, typically through a financial intermediary (the factor), at a lower interest rate based on the buyer’s credit rating. This process enables suppliers to access immediate cash flow while allowing buyers to defer payment until the invoice’s maturity date.

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Deductions Transactions 52

Chaser

NOVEMBER 19, 2024

Learn about promissory notes: what they are, key elements, types, uses, and their legal implications in loans and financial decisions.

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Due

NOVEMBER 19, 2024

Dell Technologies Inc. and Dell Federal Systems L.P. (collectively Dell) and Iron Bow Technologies LLC (Iron Bow) are set to pay millions of dollars to settle allegations they both overcharged the Army under the Army Desktop and Mobile Computing 3 (ADMC-3) contract. Dell has agreed to pay $2,300,000, and Iron Bow will part ways with $2,051,000 for their role in the scheme to defraud the United States Army.

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Loomis Sayles Credit Research

NOVEMBER 20, 2024

In our view, the corporate health outlook remains solid as we mark the third anniversary of the CANDIs survey. This quarter’s results show an improvement over last quarter’s six-month forward outlook, with corporate resilience strengthening and positive momentum broadening across more sectors. While corporate health may not be as strong as it was a year ago, we expect stability will persist, consistent with the late stage of the economic expansion.

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Retail Companies 43

Emagia

NOVEMBER 19, 2024

What are Samples of Bank Statements? Samples of bank statements provide a detailed record of your financial transactions over a specified period. They are commonly used to verify income, monitor spending, and analyze your financial health. Samples of bank statements can help individuals and businesses alike manage their finances efficiently. Understanding Bank Statement Formats The format of a bank statement typically includes details such as the date, description, debit, credit, and balance.

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Transactions 40

CreditStrong for Business

NOVEMBER 15, 2024

Consumers are generally encouraged to pay extra money to reduce their debts and car loans. Before proceeding to make additional payments toward your car loan, it is important to consider a variety of factors, including your credit history , to ensure it makes sense. Do Extra Payments Go to Principal? In most cases, borrowers should expect that any extra amounts they pay toward their car loan will reduce the principal balance.

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Credit Scoring Credit Unions 40

Chaser

NOVEMBER 14, 2024

An Electronic Funds Transfer (EFT) payment is a payment option with unparalleled convenience, efficiency, and versatility for bill payments, online purchases, payroll deposits, and account transfers. Processing times vary, with options like wire transfers for same-day delivery.

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Electronic Funds Transfer 52

Due

NOVEMBER 19, 2024

Corporate pensions in the United States have been experiencing their strongest performance in over a decade. According to data from Aon, pension plan funding has consistently improved since the Great Recession. As of September 21, the pension-funded ratios of public companies on the stock index averaged 102%, signifying that pension funding had reached its highest point since late 2011, when the ratio was approximately 78%.

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blue dot counseling

NOVEMBER 14, 2024

When businesses grow they often outpace their finance function creating an urgent need to improve business accounting. The post Why Your In-House Accounting Team Might Not Be Enough—And How We Can Help appeared first on Blue Dot Consulting.

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Emagia

NOVEMBER 19, 2024

What is Hedging in Finance? Hedging in finance refers to the practice of reducing or mitigating financial risks. By using various financial instruments, investors can protect themselves from potential losses caused by market fluctuations. Hedging in finance helps in minimizing risks in volatile markets. Types of Hedging Strategies There are several types of hedging in finance , including forward contracts, options, and futures.

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CreditStrong for Business

NOVEMBER 15, 2024

As a small business owner, obtaining capital for your business is a top priority. But not all business loans are created equal in terms of what they’re designed to help you do. If you’re looking to purchase equipment to run your business, equipment financing is your best option. Here’s what to know about what equipment financing is, how it works, how much it costs, and the pros and cons to consider before you apply.

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Credit Scoring Credit Unions Deductions Small Businesses 40

TreviPay

NOVEMBER 20, 2024

TreviPay’s Risk Management Platform now offers automated buyer onboarding at onset of order-to-cash process, with faster and more localized configurations for foreign markets OVERLAND PARK, Kan., November 20, 2024 — TreviPay , the most-trusted B2B payments and invoicing network, has expanded its order-to-cash (O2C) offering by enhancing the buyer onboarding experience through automation.

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Credit Application Order to Cash Transactions 59

Due

NOVEMBER 19, 2024

In the 2010s, the startup landscape was dominated by SaaS—software companies that promised to disrupt industries with scalable, cloud-based solutions. Venture capital dollars flowed into these businesses as fast as they could be coded. But the tides are shifting. While software remains crucial, today’s most ambitious entrepreneurs aren’t just writing code—they’re tackling some of the most complex hardware challenges across industries like manufacturing, defense, robotics, and space exploration.

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Credit and Collections 52

Cpcmcredit Blog

NOVEMBER 18, 2024

The worlds economies are nervously awaiting the nature of the Trump’s threatened tariffs on international trade. This has the potential to affect every single manufacturing business of course but what are the likely results and overall do trade wars benefit anyone? The answer to the second question would possibly be answered by the great economist Ricardo.

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Emagia

NOVEMBER 19, 2024

Cash Flow Forecasting: Essential for Business Stability Cash flow forecasting is a vital tool for maintaining financial stability in businesses. It involves predicting future cash inflows and outflows based on historical data, expected revenues, and planned expenses. This helps businesses prepare for cash shortages, avoid overdrafts, and ensure that there is enough capital for operations and growth.

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Small Businesses 40