Your Virtual Credit Manager

MARCH 5, 2024

Also, e-mails can provide more complete account information and can often be generated automatically in high volumes, especially if you have collection software with an email component. Dunning emails are a proven way to increase efficiency and ensure full coverage of your accounts receivable (AR) portfolio coverage.

Past Due Invoices 100

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

Your Virtual Credit Manager

JUNE 27, 2023

No two are alike, but they do tend to fall into some common groupings. Identifying the groupings within your customer accounts receivable (AR) portfolio enables you to deal with them all more effectively and efficiently. No matter your automation sophistication, there are benefits from grouping customers into categories.

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Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26

Your Virtual Credit Manager

JANUARY 9, 2024

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. From a credit management perspective, these are largely reactive topics. Then last week we looked at credit hold best practices. There is nothing wrong with that.

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 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.

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DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

APRIL 18, 2023

So, how can a small business acquire high level functional expertise with its “Jack of all trades” workforce, especially in regard to managing the Accounts Receivable (AR) asset? One way is to outsource the function.

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Bad Debt Credit and Collections Third Party Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

SEPTEMBER 26, 2023

Your accounts receivable (AR) and cash balances as of December 31, 2023, are very important numbers. Hiring a temporary collector or two is one solution. Launch an email campaign to send collection messages to all small accounts with past due balances older than 5 days beginning in October.

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Credit and Collections Accounts Receivable (AR) Deductions Collector 147

Your Virtual Credit Manager

NOVEMBER 1, 2022

The eternal challenge for collectors is that that there are typically more customers to be contacted than time and resources allow. The key factors informing your prioritization scheme are: The amount of the past due accounts receivable (AR) The age of the past due AR (e.g, 15 days or 120 days?)

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

Your Virtual Credit Manager

JULY 25, 2023

The other option you have involves improving the performance of your accounts receivable (AR). Chances are there is a substantial amount of liquidity that is trapped in your AR portfolio. Employ Pro-Active Dunning One of the most common excuses collectors hear is “we don’t have a copy of the invoice.”

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Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

The Esker Blog

JANUARY 10, 2023

The world of accounts receivable (AR) is still evolving as some companies transition back to office life, while many continue to operate in a new hybrid environment. What skills and technology do AR teams need to deliver strategic value? What accounts receivable goals should you be reaching for?

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AR Aging Accounts Receivable (AR) Credit and Collections AR Automation 95

billtrust

JANUARY 11, 2023

We help you keep your customers (and collectors) on track with automated payment reminders, searchable histories and daily prioritized task lists. Our automated solution finds remittance everywhere that it lives, matches payments quickly and accurately and increases your cash flow. Billtrust Collections. “Fast and efficient.”

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AR Automation Order to Cash Collector Cash Applicator 52

billtrust

DECEMBER 20, 2022

Usually, customers highlight the reason for the short payment, and AR teams need to match any reason codes the customer has given to the reason code the ERP is using. Credit remains tied up, and collectors are unaware. That’s before the data enters the ERP and cash can be posted. This can slow down business.

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AR Automation Digital Lockbox Cash Applicator Collector 52

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.

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Credit and Collections Accounts Receivable (AR) Default Collector 130