Your Virtual Credit Manager

MARCH 12, 2024

As a result, trade credit, where businesses extend financing to customers, is undergoing rapid advancements, but it also poses high risks, especially in assessing creditworthiness, dealing with economic fluctuations, and fraud. While these are excellent recommendations, they are a bit laden with consultant-speak.

AR Transformation 100

AR Transformation Credit and Collections Accounts Receivable (AR) Order to Cash 100

Your Virtual Credit Manager

FEBRUARY 7, 2023

Such a process also brings more certainty to the accounts receivable (AR) asset. Looking around us, the Amazons, Netflixes, and HubSpots of the world were billing and charging clients automatically, while our business’s billing and collections looked pretty much the same as it had been done before computers.

AR Automation 130

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

Your Virtual Credit Manager

AUGUST 6, 2024

Extending credit is standard practice if you are selling to other businesses. Most commercial enterprises are simply not willing to continue trading without credit terms, making it difficult for any trade credit grantor to generate enough revenue to survive on cash sales.

Bad Debt 100

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

Your Virtual Credit Manager

OCTOBER 2, 2024

Accounts Receivable (AR) reflect a promise of payment at a future date. Though a paper asset, AR competes with Property, Plant and Equipment as well as Inventory for being the largest line item on a company’s balance sheet. Who performs the Credit & Collection activities — you or the finance company?

Past Due Invoices 130

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

Your Virtual Credit Manager

SEPTEMBER 10, 2024

To optimize the order-to-cash (O2C) process, it's crucial to understand the significant role Credit and Collections plays. This function must collaborate closely with sales, fulfillment, shipping/logistics, and accounting, all of which are integral to converting an order into cash.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Emagia

MAY 16, 2023

The average collection period is an important accounting metric that evaluates a company’s ability to manage its accounts receivable (AR) effectively. What is an Average Collection Period? Why is the Average Collection Period Critical to Track?

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections DSO Credit Sales 52

Your Virtual Credit Manager

JULY 23, 2024

In every accounts receivable (AR) portfolio there are customers that almost always pay on time, other customers that pay within a reasonable proximity of the due date, and those that pay consistently slow. Irregular payments are a clear warning sign that default may be around the corner.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Emagia

AUGUST 1, 2023

Understanding the nature of accounts receivable (AR) and its classification is crucial to maintain accurate bookkeeping records. One doubt that always pops up regarding is if accounts receivable is a debit or credit. What is Accounts Receivables? What is the Accounts Receivable Process?

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections Cash Applicator Credit Representative 52

Your Virtual Credit Manager

DECEMBER 27, 2022

For example, there are firms burning through their cash reserves that may still be considered worthy of credit on their next order, but not the order that comes in three months from now. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 130

Lockstep

JULY 27, 2022

In today’s economy, it is essential to be able to allocate credit where it is needed most. based B2B sales are paid using customer credit, knowing how much credit to extend and to which customers is of dire importance. Issuing too much credit to the wrong customers can lead to disastrous outcomes. .

Credit Scoring 89

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

Your Virtual Credit Manager

DECEMBER 19, 2023

If you are an executive at a small or mid-sized business, chances are you are in the process of putting together a budget for 2024, or have already done so. Maybe you have factored in an incremental improvement in DSO, but how much thought have you given to how you are going to meet that budgeted goal?

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Your Virtual Credit Manager

APRIL 30, 2024

Photo by Freddie Collins on Unsplash ) Trade credit terms are intended to provide a convenience for the customer and unlike most loans are generally unsecured, in large part because they have a short term. If too many customers request and are granted extended terms, it will cause a substantial strain on your cash flow.

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 100

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. What constitutes optimization of a company’s AR?

Past Due Invoices 100

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

Your Virtual Credit Manager

OCTOBER 25, 2022

The result of timely and accurate Remittance Processing is an accurate Accounts Receivable (AR) Ledger, which provides the current status of every customer’s balance owed to you. Alienation of customers whose orders are unjustly held up because their payment has not yet been applied.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Cash Applicator Deductions 130

Your Virtual Credit Manager

SEPTEMBER 13, 2022

Should you confirm that the customer is indeed correct, the deduction is removed from the Accounts Receivable (AR) ledger via a credit memo. If not approved, there should be an attempt to collect the disputed amount to avoid diluting profits, and if not collected, the deduction should be cleared by a bad debt write-off.

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Emagia

AUGUST 19, 2024

Generative AI (GenAI), a more recent evolution in artificial intelligence, is poised to redefine the Finance and Accounting (F&A) landscape, particularly in areas like Order-to-Cash (OTC) and accounts receivable (AR) management.

Cash Applicator 52

Cash Applicator AR Automation Accounts Receivable (AR) Days Sales Outstanding 52

Emagia

JUNE 19, 2023

Invoices serve as a record of transactions between businesses and clients. Traditionally, invoicing has printing and mailing physical invoices, but those are very costly. An invoice details the terms of the payment, the deadline for making payments, and the means of payment that are accepted. What is an Invoice Used For?

AR Automation 52

AR Automation Past Due Invoices Accounts Receivable (AR) Credit and Collections 52

billtrust

OCTOBER 5, 2022

Pros and cons of handling accounts receivable remotely How do you streamline accounts receivable & remote work? Automating your accounts receivable processes. If you’re like most businesses, your accounts receivable (AR) process could use a little streamlining.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections AR Automation Credit Card Companies 52

NorthOne

JUNE 4, 2023

Accurate and timely invoicing and payment collection ensure that businesses have a healthy cash flow, enabling them to meet their financial obligations and invest in their growth. When payments are not collected on time, businesses may struggle to pay their suppliers, employees, and rent.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections Transactions Small Businesses 52

tillful

NOVEMBER 8, 2022

Accounts receivable (AR). Accounts receivable refers to money owed to a business by third parties like customers or clients. For example, if you provide a service and allow your client 60 days to pay, the amount they owe you will be recorded under your accounts receivables until it’s paid.

Credit Reporting Agencies 52

Credit Reporting Agencies Deductions Credit Scoring Credit and Collections 52

Your Virtual Credit Manager

JUNE 27, 2023

Some business customers are easy to deal with, others not so much. Some have good credit, others are clear risks. No two are alike, but they do tend to fall into some common groupings. If a Faithfully Tardy customer runs into cash flow problems, you are likely to see them extend their payment cycle even further.

Collector 26

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

billtrust

DECEMBER 20, 2022

Accelerate digital payments by leveling up your AR automation. Automation brings B2B opportunities for B2B transactions. Automated AP comes with challenges for AR teams. Also, a recent study from Juniper Research has found the global transaction value of the B2B payments market will exceed $111 trillion in 2027.

AR Automation 52

AR Automation Digital Lockbox Cash Applicator Collector 52

Fundera

OCTOBER 15, 2018

Collect accounts receivable more quickly. Reducing your accounts receivable (AR) cycle turns money tied up in invoices into cash. Particularly if your credit score or business revenues have improved since initially getting your loan, you’re a good candidate for refinancing.

Accounts Receivable (AR) 62

Accounts Receivable (AR) Credit and Collections Small Businesses Credit Scoring 62

Fundera

JUNE 27, 2018

These businesses transact with customers and bring in cash multiple times per day, so they don’t need to stockpile a large amount of working capital. Collect accounts receivable more quickly. Reducing your Accounts Receivable (AR) cycle turns money tied up in invoices into cash.

Accounts Receivable (AR) 62

Accounts Receivable (AR) Credit and Collections Small Businesses Credit Scoring 62