Remove Accounts Receivable (AR) Remove Bad Debt Remove Credit Application
article thumbnail

How Are Your Customers Doing?

Your Virtual Credit Manager

We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.

Bad Debt 130
article thumbnail

Top 10 Strategies for Reducing Days Sales Outstanding (DSO)

Your Virtual Credit Manager

How was your accounts receivable (AR) performance last year? This is a very important question because AR is typically one of the top two or three largest assets for a B2B vendor. The primary way most companies measure AR performance involves looking at the Days Sales Outstanding (DSO) metric.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Are Your Collection Efforts Myopic?

Your Virtual Credit Manager

A high degree of transactional transparency across the entire Order to Cash Process (O2C), coupled with 360-degree visibility of customers and their life-cycles, is necessary to optimize accounts receivable (AR) performance. Too often, customer and AR information is kept in an assortment of data silos.

article thumbnail

Due Diligence Doesn't End with the Credit Application

Your Virtual Credit Manager

We are currently offering 33 percent off our standard small business consulting rates. Learn More About YVCM Consulting Case Study: Portfolio Monitoring Pays Off Big-Time About 25 years ago, a credit manager I know saved his company from a seven-figure bad debt loss by monitoring the Internet on his biggest customers.

article thumbnail

Top Accounts Receivable Strategies for 2025

Gaviti

The world of Accounts Receivable (AR) is evolving rapidly. With increased interest rates and inflation, businesses are facing increasing pressure to collect cash faster. Ensure you have alerts set up so that you are aware when a customer is near their credit limit or to know if a customers credit score has changed.

article thumbnail

Get Ready for a Wave of Commercial Bankruptcies

Your Virtual Credit Manager

Clearly, the level of Business Credit Risk is going to remain elevated as we move through 2024, bringing with it the potential for corresponding increases in bad debt and delinquency. The good news is that there are a number of actions you can take to reduce your loss exposure and shore up your accounts receivable (AR).

article thumbnail

Don't Leave Converting Sales into Cash to Chance

Your Virtual Credit Manager

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you.

DSO 130