Your Virtual Credit Manager

SEPTEMBER 3, 2024

billion in annual sales was dissatisfied with the management of its Accounts Receivable (AR). Collection Prioritization Drives Performance Improvement A medical device manufacturer with $1.6 Days Sales Outstanding (DSO) was at 63 days on predominantly Net 30 day terms.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Days Sales Outstanding DSO Credit and Collections 130

Your Virtual Credit Manager

SEPTEMBER 24, 2024

This constant pressure is one of the greatest challenges executives with accounts receivable (AR) responsibilities face—navigating urgent issues while still keeping focused on the strategic goals that drive long-term success.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

APRIL 16, 2024

Market volatility and rising costs are instead disrupting working capital budgets, causing late payments that inflate accounts receivable (AR). There’s scant hope that interest rates will return to pre-Covid, easy-money levels anytime soon.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Debt Collections Credit and Collections Collector 130

Your Virtual Credit Manager

FEBRUARY 27, 2024

Wen that happens accounts receivable (AR) performance also tends to suffer. Providing insights into specific risks within your accounts receivable (AR) portfolio and sharing customer interactions can further illustrate the importance of prudent credit management.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Days Sales Outstanding Bad Debt Credit and Collections 130

Your Virtual Credit Manager

NOVEMBER 5, 2024

A client, who rented heavy equipment to manufacturers and construction firms across a multi-state market area, was saddled with an accounts receivable (AR) growing faster than revenue. In other words, they weren’t collecting everything being sold.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

NOVEMBER 12, 2024

Consequently, a large percentage of your accounts receivable (AR) is likely to derive from large firms. 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.

Chapter 11 130

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

Bectran

AUGUST 16, 2023

Accounts receivable (AR) is a critical piece of the cash flow puzzle and sustainable, efficient AR processes can make or break your business. That’s why it’s crucial to have an integrated, seamless and holistic AR ecosystem.

Accounts Receivable (AR) 97

Accounts Receivable (AR) 97

Bectran

JULY 12, 2023

Maintaining an organized credit management system and accounts receivable (AR) department is a major key to success in any B2B company, but it’s particularly so in the construction industry.

Accounts Receivable (AR) 98

Accounts Receivable (AR) Credit Management 98

Your Virtual Credit Manager

JUNE 11, 2024

My first exposure to the power of accounts receivable (AR) automation came in 1990 when I was credit manager at ERICO Fasteners, a mid-market, specialty metals manufacturer. The first month after we automated a few basic features to supplement our accounting package, we realized an increase in cash flow of 30 percent.

AR Automation 130

AR Automation DSO Collector Accounts Receivable (AR) 130

Your Virtual Credit Manager

MARCH 21, 2023

Subscribe now Lessons to Be Learned Looked at from the perspective of somebody responsible for the management of a portfolio of accounts receivable (AR), the events surrounding the SVB collapse present a cautionary tale. Not a subscriber … why don’t you take advantage of a free YVCM subscription?

Accounts Receivable (AR) 130

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

Bectran

JULY 26, 2023

Credit professionals are turning to automated and digitized processes and workflows to free them from tedious, paper-intensive processes. In the accounts receivable (AR) sector, paper invoices are a thing of the past, because automation technology is the future, and it is transforming the way businesses handle B2B transactions.

Transactions 89

Transactions Accounts Receivable (AR) Credit and Collections 89

Your Virtual Credit Manager

FEBRUARY 20, 2024

(Photo by Carlos Muza on Unsplash ) A Framework for Choosing Suitable AR Metrics Businesses should carefully assess their specific needs, objectives, and operating context when selecting metrics for accounts receivable (AR) performance measurement. Calculate the total credit sales made during the same period.

DSO 130

DSO Days Sales Outstanding Credit and Collections Accounts Receivable (AR) 130

Lockstep

NOVEMBER 17, 2022

Lockstep Inbox is the first and only dedicated tool that connects Gmail to QuickBooks Online, Sage Intacct, and Xero, allowing companies to manage their accounts payable (AP) and accounts receivable (AR) Gmail inboxes and accounting workflows all in one centralized location.

Accounts Receivable (AR) 85

Accounts Receivable (AR) 85

Your Virtual Credit Manager

JANUARY 30, 2024

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Manual collection processes centered on an aged accounts receivable trial balance (ARTB) lack the regimentation and efficiency brought about by automation.

Credit and Collections 130

Credit and Collections Collector Accounts Receivable (AR) Days Sales Outstanding 130

Accounting Department

JANUARY 19, 2023

However, late payments and bad debts are a constant threat looming over an accounts receivables (AR) team. Accounts receivable reports are a key tool for businesses to manage their AR balances, forecast cash inflow, and stay on top of overdue payments.

Accounts Receivable (AR) 83

Accounts Receivable (AR) Bad Debt Small Businesses 83

The Esker Blog

JANUARY 3, 2023

And after years of supplier shortages, drastic demand fluctuations, increased operating costs and liquidity pinches, finance leaders are prioritizing goals associated with reaching the lowest DSO possible and quickly recovering payment on accounts receivable (AR).

DSO 98

DSO Accounts Receivable (AR) Credit and Collections Days Sales Outstanding 98

Your Virtual Credit Manager

JANUARY 2, 2024

Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. For most firms, late customer payments are a frequent occurrence and collecting them can be a difficult task.

Bad Debt 130

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

Your Virtual Credit Manager

OCTOBER 3, 2023

There is another bad debt threat to your Accounts Receivable (AR) asset, however that could prove devastating. It should also facilitate maximizing revenue from customers with a higher degree of credit risk. Because it focuses effort where needed, it can be quite efficient as well as effective.

Bad Debt 130

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

Your Virtual Credit Manager

OCTOBER 15, 2024

Over the next couple of years, many more companies are expected to file bankruptcy chapter 7 liquidations, or simply close their doors for good. As a consequence, commercial accounts receivable (AR) portfolios are at an increasing risk of suffering bad debt losses.

Chapter 11 100

Chapter 11 Bad Debt Accounts Receivable (AR) Bankruptcy 100

Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. From processing credit applications to negotiating payment plans, each AR activity you undertake requires thoughtful consideration.

Credit and Collections 130

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

Lockstep

JUNE 1, 2022

As the Federal Reserve tightens interest rates at the highest level in over 20 years, it’s a good time to review your manual accounts receivable (AR) processes to seek out your unresolved cash traps. It’s no surprise that rising interest rates are causing companies to evaluate their AR and cash position. .

AR Automation 78

AR Automation Accounts Receivable (AR) DSO Credit and Collections 78

Your Virtual Credit Manager

JULY 16, 2024

Once an order has been approved and fulfilled, the primary objective in terms of Accounts Receivable (AR) management is getting paid. Some customers will always pay on time. Others will always pay beyond terms and the remainder will fall somewhere in between.

Accounts Receivable (AR) 100

Accounts Receivable (AR) Collector Past Due Invoices Credit and Collections 100

Your Virtual Credit Manager

MAY 28, 2024

That’s why vigilance is an ongoing requirement for anybody charged with accounts receivable (AR) or cash flow management. If your AR is performing at a high level and your cash flow is insufficient, you will need to generate more revenues and/or cut costs.

Accounts Receivable (AR) 100

Accounts Receivable (AR) Past Due Invoices Credit and Collections Collector 100

Lockstep

MAY 4, 2022

Is your AR aging creeping beyond resolution? Are you even able to review and report on your aging accounts receivable? The role of accounts receivables (AR) teams is increasingly important as the backbone of your organization’s financial health. Enter Award-Winning Lockstep .

AR Automation 83

AR Automation Accounts Receivable (AR) AR Aging Credit and Collections 83

Your Virtual Credit Manager

AUGUST 15, 2023

Photo by Berkeley Communications on Unsplash In all probability, your accounts receivable (AR) portfolio conforms to the 80/20 rule. Pareto’s theorem stipulates that 80 percent of your receivables are concetrated in only 20 percent fo your accounts and vice versa.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Credit Management Small Businesses 130

The Esker Blog

DECEMBER 29, 2022

In Part 1 of the Rethinking Receivables blog series, we highlighted four strategies that all finance leaders should prioritize in 2023 in order to maintain a healthy cashflow and resilient business model. Why AR automation?

AR Automation 98

AR Automation Accounts Receivable (AR) Cash Forecasting Credit and Collections 98

The Esker Blog

DECEMBER 13, 2022

With the New Year right around the corner, it’s an opportune time for finance leaders to review, reassess and rethink their accounts receivable (AR) strategies. Start up business team meeting working on digital tablet new business project. But this prompt is not simply some end-of-the-year contrivance.

Accounts Receivable (AR) 97

Accounts Receivable (AR) DSO Bad Debt Invoice to Cash 97

Your Virtual Credit Manager

NOVEMBER 28, 2023

The primary source of cash inflows for most firms are the receipts from payments of open customer invoices - i.e., your Accounts Receivable (AR). Other common inflows may involve rent you charge, royalties, and financing, all of which are easy to forecast. This is the inflow most difficult to forecast.

Cash Forecasting 130

Cash Forecasting Accounts Receivable (AR) Credit and Collections Invoice Disputes 130

Your Virtual Credit Manager

APRIL 9, 2024

There has always been a strong correlation between the cost of funds and accounts receivable (AR) management. Any delays in receiving payments from customers can, therefore, have a more pronounced effect on a company's bottom line profits.

Credit and Collections 130

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

Your Virtual Credit Manager

JANUARY 9, 2024

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

Lockstep

MAY 19, 2022

Designed as a shared inbox, Lockstep Inbox is meant for the individual or a team in the accounting department who communicates directly with customers and/or vendors.

Accounts Receivable (AR) 114

Accounts Receivable (AR) DSO Transactions 114

Enterprise Recovery

MARCH 24, 2023

As accounts receivables (AR) begin to fall delinquent, your business expenses could fall delinquent as well. The effectiveness of your accounts receivable department may be one of the most important measurements to determine the success of your business.

Accounts Receivable (AR) 66

Accounts Receivable (AR) Debt Collections 66

Your Virtual Credit Manager

FEBRUARY 28, 2023

It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. It therefore makes monetary sense for them to take your discount to offset the interest on their loans. Getting customers to pay now rather than later reduces the risk of a default down the road.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

FEBRUARY 21, 2023

That certainly holds true for business processes, including the management of your Accounts Receivable (AR) and the part it plays in the order-to-cash process. If your AR is deteriorating, you better diagnose the problem as quickly as possible so you don’t incur cash flow problems and bad debt losses.

DSO 130

DSO Credit and Collections Collection Effectiveness Index Bad Debt 130

Your Virtual Credit Manager

FEBRUARY 7, 2023

Such a process also brings more certainty to the accounts receivable (AR) asset. This relieves the seller from the “joys” of manually invoicing and then chasing down late payments. The seller has much more assurance that they will be paid on time by their clients.

AR Automation 130

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

Lockstep

NOVEMBER 16, 2022

In today’s fast-paced, competitive business environment, it’s more important than ever to optimize your accounts receivable (AR) processes. One way to do this is by leveraging automated customer communications as part of your broader accounts receivable automation strategy.

AR Automation 90

AR Automation Accounts Receivable (AR) Days Sales Outstanding DSO 90

Lockstep

MARCH 16, 2023

The Lockstep Team has made several enhancements to the accounts payable (AP) and accounts receivable (AR) workflows built within Lockstep Inbox, including the ability for teams with a single shared inbox to leverage the power of Lockstep Inbox.

Accounts Receivable (AR) 87

Accounts Receivable (AR) 87