Your Virtual Credit Manager

JANUARY 30, 2024

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Previously, decisions were largely left to the discretion of individual collectors, resulting in subjective and inconsistent approaches. Bottom 40 percent: Customers contributing only about 5 percent of revenue.

Credit and Collections 130

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

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. Collectors must deal with all sorts of excuses for what is owed not being paid. Some customers will always pay on time. Collections becomes more challenging when the customer objects.

Collector 100

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

Your Virtual Credit Manager

MAY 28, 2024

Quality control issues that slip through production and or arise during distribution are not usually discovered until after the invoice is billed — most likely by the collector. That’s why vigilance is an ongoing requirement for anybody charged with accounts receivable (AR) or cash flow management.

Accounts Receivable (AR) 100

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

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.

Credit and Collections 130

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

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.

Credit and Collections 147

Credit and Collections Accounts Receivable (AR) Deductions Collector 147

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

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?)

Past Due Invoices 130

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

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

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.”

Best Possible DSO (BPDSO) 130

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

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.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 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

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. One person to deal with.

Credit and Collections 130

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