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. The cash flow and bad debt benefits will usually outweigh the potential lost revenue.

Bad Debt 130

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

Your Virtual Credit Manager

JUNE 25, 2024

In order to maintain optimal cash flow, your accounts receivable (AR) portfolio needs to remain in good shape. That can be a constant battle because all the mis-steps made during the order-to-cash (O2C) process will accumulate in your AR, and given time, clog it up.

Bad Debt 130

Bad Debt Credit and Collections Days Sales Outstanding DSO 130

Your Virtual Credit Manager

OCTOBER 31, 2023

Accounts receivable (AR) represent the amounts owed your business by your customers for the purchase of goods or services delivered on credit. Because AR constitutes one of largest assets on your books, proactively managing accounts receivable is crucial for the financial health of your business.

Bad Debt 130

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

Gaviti

FEBRUARY 4, 2025

The world of Accounts Receivable (AR) is evolving rapidly. With increased interest rates and inflation, businesses are facing increasing pressure to collect cash faster. Many traditional KPIs, like DSO, are not always a good indicator of collection success.

Average Days Delinquent 59

Average Days Delinquent Credit and Collections AR Metrics DSO 59

Your Virtual Credit Manager

JANUARY 23, 2024

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.

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

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. In fact, writing off bad debts will lower your DSO.

DSO 130

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

Your Virtual Credit Manager

DECEMBER 6, 2022

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

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

FEBRUARY 13, 2024

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).

Bankruptcy 130

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

Your Virtual Credit Manager

NOVEMBER 1, 2022

Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. The eternal challenge for collectors is that that there are typically more customers to be contacted than time and resources allow. 15 days or 120 days?)

Past Due Invoices 130

Past Due Invoices Credit and Collections Bad Debt Accounts Receivable (AR) 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Effectively managing accounts receivable (AR) is essential for a company's financial well-being. Poor receivables performance affects cash flow, and it is no secret that cash flow problems are the leading cause of business failures. Credit evaluations, however, often take time.

Credit and Collections 130

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

Your Virtual Credit Manager

JANUARY 16, 2024

This also requires that your don’t set yourself further behind by making mistakes collecting your debts. The other reason you should require a credit agreement or contracts that stipulate selling terms and conditions is that these also inform your customer of your payment expectations.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Lockstep

JUNE 15, 2022

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Be it lack of critical financial information, undue to time constraints, or higher priority projects, many companies, today, struggle to create formal credit policies. . Getting Started .

AR Automation 91

AR Automation Bad Debt DSO Accounts Receivable (AR) 91

Your Virtual Credit Manager

AUGUST 6, 2024

The goal is not preventing bad debt losses but rather maximizing profits. If you should try to eliminate all bad debt losses, chances are you will forego sales to customers that will eventually pay. On the one hand, controlling bad debt and delinquency losses is critical. ” The Bottom Line.

Bad Debt 100

Bad Debt Credit and Collections Accounts Receivable (AR) Credit Risk 100

Emagia

FEBRUARY 21, 2025

Managing accounts receivable (AR) is crucial for maintaining a healthy cash flow and ensuring the financial stability of a business. Effective tracking of AR involves implementing clear processes, utilizing appropriate tools, and regularly monitoring key performance indicators (KPIs). What is Days Sales Outstanding (DSO)?

Days Sales Outstanding 40

Days Sales Outstanding DSO Bad Debt Credit and Collections 40

Your Virtual Credit Manager

APRIL 2, 2024

As such, they are just one of the many tools, such as credit reports, supplier and bank references, and financial statement analysis, that can help assess a business's creditworthiness. Commercial credit scores are often not as well understood as consumer credit scores such as FICO.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

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

Emagia

DECEMBER 30, 2024

Understanding the nuances of accounts receivable (AR) in accounting is crucial for maintaining accurate financial records and ensuring effective cash flow management. Comprehensive Reporting: Gain insights through detailed reports and dashboards for informed decision-making.

Accounts Receivable (AR) 40

Accounts Receivable (AR) Days Sales Outstanding Credit and Collections Bad Debt 40

Your Virtual Credit Manager

SEPTEMBER 10, 2024

Specifically, Credit and Collections is responsible for approving new customers for credit terms and managing orders at the beginning of the O2C cycle, while also monitoring risks within the Accounts Receivable (AR) portfolio and collecting overdue payments, both of which are post-sale activities.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Lockstep

JULY 27, 2022

This means that businesses need to have accurate and up-to-date information about their customers’ creditworthiness. based B2B sales are paid using customer credit, knowing how much credit to extend and to which customers is of dire importance. What are some credit policy options? While nearly 60% of U.S.-based

Credit Scoring 89

Credit Scoring Bad Debt Accounts Receivable (AR) AR Automation 89

Your Virtual Credit Manager

NOVEMBER 29, 2022

In fact, most SMBs should look into using Collection Agencies to not only maximize the recovery of Accounts Receivable (AR) at high risk of never being collected, but to collect all old receivables. Your credit application should include all this information.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 130

Emagia

MARCH 3, 2025

The Accounts Receivable (AR) Process Cycle is a fundamental component of a company’s financial operations, encompassing the series of actions taken to manage and collect payments owed by customers for goods or services provided on credit.

Days Sales Outstanding 40

Days Sales Outstanding DSO AR Reporting Credit and Collections 40

billtrust

NOVEMBER 1, 2022

The primary goals of accounts receivable The best KPI for accounts receivable Ten AR optimization goals you should accomplish How to get paid faster with key collection strategies How accounts receivable automation can eliminate manual tasks. Bad debt expense. Keep accurate records.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Bad Debt Days Sales Outstanding DSO 52

Emagia

NOVEMBER 28, 2023

But these terms are not synonymous and should not be looked at as such by modern CFOs and other financial leaders. While automation streamlines repetitive tasks within predetermined parameters, autonomous systems leverage data-driven insights to adapt dynamically, enabling informed decision-making surpassing human capabilities.

Accounts Receivable (AR) 64

Accounts Receivable (AR) Bad Debt Order to Cash 64

Emagia

FEBRUARY 20, 2025

Automating accounts receivable (AR) is a strategic move for businesses aiming to enhance cash flow, reduce manual workloads, and improve overall financial efficiency. By utilizing real-time data and analytics, companies can make informed decisions about extending credit, thereby minimizing the risk of bad debts.

AR Automation 40

AR Automation Credit and Collections Cash Applicator DSO 40

Your Virtual Credit Manager

APRIL 4, 2023

With a growing number of experts predicting a recession to hit later this year, and inflation and interest rates remaining at elevated levels, squeezing every dollar out of your investment in Accounts Receivable (AR) is more important than ever. You should also eliminate any duplicate accounts.

Past Due Invoices 100

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

Gaviti

APRIL 18, 2024

As an assessment and diagnostic tool, it’s hard to overstate the importance of your company’s accounts receivable (AR) collections aging report. What Is an AR Aging Report? An aged receivables report is a tool that categorizes your company’s receivables in accordance with how long invoices have been outstanding.

AR Aging 52

AR Aging Credit and Collections Bad Debt Allowance for Doubtful Accounts 52

Gaviti

JULY 11, 2024

This in turn fosters greater collaboration among teams and the ability to make more informed decisions. Most A/R collections teams are reactive, escalating collections calls after customers have unpaid or overdue invoices. This can be especially helpful in maximizing cash inflows and minimizing bad debt.

DSO 52

DSO AR Automation Credit and Collections Bad Debt 52

Emagia

DECEMBER 12, 2023

Gaining critical insights into future cash flow when AR information resides across disparate systems and relies on time-consuming manual processes proves inefficient and time-consuming. AI-enabled cash flow forecasting allows AP and AR teams to enhance the health and position of their company.

Cash Forecasting 52

Cash Forecasting Accounts Receivable (AR) Bad Debt Credit and Collections 52

Gaviti

FEBRUARY 6, 2023

As accounting processes continue to evolve, it’s becoming increasingly clear that harnessing the power of technology can help businesses streamline their operations and make more informed decisions. As time goes on, cyber attacks will continue to grow in sophistication, and accounting firms need to be prepared.

AR Automation 52

AR Automation DSO Accounts Receivable (AR) Days Sales Outstanding 52

Lendio

NOVEMBER 13, 2023

If you’ve faced rejection from lenders in the past , you should devote a long look at accounts receivable financing. What are accounts receivable? These are typically in the form of invoices raised by a business and delivered to the customer for payment within an agreed-upon time frame.

Credit and Collections 52

Credit and Collections Accounts Receivable (AR) Credit Scoring Invoice Amount 52

Your Virtual Credit Manager

JANUARY 21, 2025

Further credit and collection contributions involve monitoring risk in the accounts receivable (AR) portfolio and collecting from customers who don’t pay on time, both of which are post-sale activities. Delaying collection activity guarantees reductions in cash flow and even bad debt losses.

Order to Cash 130

Order to Cash Credit and Collections Bad Debt Accounts Receivable (AR) 130

Your Virtual Credit Manager

DECEMBER 24, 2024

Perhaps more than any other SMB function, Accounts Receivable (AR) Management gets put on a back burner because it is nobody’s prime responsibility. The only time AR comes to the forefront is when there is economic turmoil and an increased risk of bad debt losses.

Credit and Collections 130

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

Emagia

DECEMBER 30, 2024

Accounts receivable (AR) is a critical component of a company’s financial health, representing the outstanding invoices or money owed by customers for goods or services delivered but not yet paid for. Efficient management of accounts receivable ensures steady cash flow and minimizes the risk of bad debts.

Days Sales Outstanding 40

Days Sales Outstanding DSO Credit and Collections Bad Debt 40

Emagia

FEBRUARY 5, 2025

As a CFO or an accounts receivable (AR) professional, your primary responsibility is to ensure that your business maintains healthy cash flow by efficiently managing accounts receivable processes. However, managing AR can often be a complex and challenging task. What is Customer 360-Degree View?

AR Automation 40

AR Automation DSO Accounts Receivable (AR) Days Sales Outstanding 40

Your Virtual Credit Manager

MARCH 26, 2024

The remainder of your review will mirror an initial credit evaluation ( here’s more information on Evaluating Credit ). Your Account Reviews provide the foundation for your Portfolio Monitoring. Periodic Account Reviews , while certainly beneficial, would not necessarily have revealed this problem. A Case in Point.

Bankruptcy 130

Bankruptcy Bad Debt Credit Scoring Chapter 11 130