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).

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

Your Virtual Credit Manager

FEBRUARY 21, 2023

Photo by Mockup Graphics on Unsplash The old saying goes that you can’t manage what you can’t measure. That certainly holds true for business processes, including the management of your Accounts Receivable (AR) and the part it plays in the order-to-cash process.

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DSO Credit and Collections Collection Effectiveness Index Bad Debt 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.

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Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

AUGUST 29, 2023

There are a myriad of issues that can affect collections. As you review your metrics, here are five signs that there may be a problem with your collection practices: DSO Is Rising: Days Sales Outstanding is the most common metric for measuring accounts receivable (AR) performance.

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DSO Credit and Collections Bad Debt Collection Effectiveness Index 130

Your Virtual Credit Manager

JANUARY 9, 2024

Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. In fact, once you decide to sell a customer on open credit, most of the accounts receivable (AR) management tasks that follow have a reactive component.

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

FEBRUARY 28, 2023

Your Virtual Credit Manager (YVCM) previously published an article discussing the pros and cons of Prompt Payment Discounts. However, at this point in time there are other factors in play that favor the use of discounts to encourage earlier payment by your customers. This is a subject that has valid arguments for and against.

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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. Here’s more on credit evaluations.

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

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. Are there past due accounts you are trying to collect? it just might help them pay you sooner!

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

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.

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Bad Debt Credit and Collections DSO Days Sales Outstanding 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? Another approach is to look at each discreet AR activity to determine if it might be better handled by an external partner.

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

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?

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DSO Third Party Collections Credit and Collections Deductions 130

Your Virtual Credit Manager

OCTOBER 17, 2023

To avoid unacceptably large credit losses, a system of credit controls and procedures must be implemented. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. What do you need help doing?

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

Your Virtual Credit Manager

APRIL 11, 2023

Accounts Receivables (AR) require active management. In fact, a hands off approach will only serve to compound the weaknesses in your order-to-cash (O2C) process. Any O2C friction that results will ultimately have a negative affect on AR performance. Laissez-faire doesn’t cut it.

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

Your Virtual Credit Manager

SEPTEMBER 13, 2022

They occur because a customer does not receive your product or service as ordered, or feels the invoice is incorrect. Should you confirm that the customer is indeed correct, the deduction is removed from the Accounts Receivable (AR) ledger via a credit memo.

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Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Gaviti

JULY 11, 2024

Benefits of Accounts Receivable Automation Software Whether your goal is to automate the collections process with accounts receivable automation software or scale it as your company grows,you’ll want to look for a solution that offers the most benefits for your business. Gaining better visibility into the A/R process.

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DSO AR Automation Credit and Collections Bad Debt 52

billtrust

JANUARY 11, 2023

Billtrust delivers solutions across the entire order-to-cash cycle. Billtrust Credit. We offer web-based application forms that speed customer onboarding and data-driven recommendations that help credit managers make faster, better decisions. Billtrust Order. com marketplace. Still more to do. Learn More.

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