Your Virtual Credit Manager

DECEMBER 24, 2024

Photo by CDC on Unsplash Credit & Collection results suffer greatly from lack of attention and expertise. Perhaps more than any other SMB function, Accounts Receivable (AR) Management gets put on a back burner because it is nobody’s prime responsibility.

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

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Bankruptcy Credit and Collections Bad Debt Accounts Receivable (AR) 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. Calculate the total credit sales made during the same period.

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

Your Virtual Credit Manager

OCTOBER 17, 2023

(Photo by Jandira Sonnendeck on Unsplash ) In most cases, you therefore have to extend credit to your B2B customers, which entails the following risks: Not being paid anything Being paid an amount less than the full invoice value Not being paid on time, whether in full or in part These outcomes are known as credit risks.

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Bad Debt Credit and Collections Credit Risk Accounts Receivable (AR) 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. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle.

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

Your Virtual Credit Manager

JANUARY 30, 2024

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Manual collection processes centered on an aged accounts receivable trial balance (ARTB) lack the regimentation and efficiency brought about by automation.

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

Your Virtual Credit Manager

MARCH 21, 2023

Subscribe now Lessons to Be Learned Looked at from the perspective of somebody responsible for the management of a portfolio of accounts receivable (AR), the events surrounding the SVB collapse present a cautionary tale. Any enterprise extending credit to another business needs to have real treasury expertise.

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

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. Another benefit is that your overall AR portfolio credit risk is reduced.

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

Your Virtual Credit Manager

FEBRUARY 28, 2023

It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. Getting customers to pay now rather than later reduces the risk of a default down the road. Most distressed companies continue paying, until they can’t.

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Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

DECEMBER 5, 2023

This misguided search for a singular understanding applies to many things, including collecting Accounts Receivable (AR). Optimal Collection results are achieved by utilizing different collection techniques with different types of customers. “One size does not fit all.”

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Credit and Collections Third Party Collections Accounts Receivable (AR) Credit Risk 130

Your Virtual Credit Manager

OCTOBER 15, 2024

Over the next couple of years, many more companies are expected to file bankruptcy chapter 7 liquidations, or simply close their doors for good. As a consequence, commercial accounts receivable (AR) portfolios are at an increasing risk of suffering bad debt losses.

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Chapter 11 Bad Debt Accounts Receivable (AR) Chapter 7 100

Your Virtual Credit Manager

JANUARY 23, 2024

There will only be a minimal loss if a small volume account defaults, so the higher the sales volume and credit risk (and remember that new businesses pose a higher risk), the more frequently you should be reviewing those accounts. Update financial information: at least annually.

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Credit Application Bad Debt Bankruptcy Credit Scoring 130

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. Your Virtual Credit Manager is a reader-supported publication.

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

The Esker Blog

DECEMBER 13, 2022

With the New Year right around the corner, it’s an opportune time for finance leaders to review, reassess and rethink their accounts receivable (AR) strategies. customer insights (business history, payer performances, credit risk management, etc.), But this prompt is not simply some end-of-the-year contrivance.

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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.

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Bad Debt Credit and Collections Accounts Receivable (AR) Credit Risk 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? Credit Risk Evaluations : If you purchase Credit Risk Insurance, the insurer will serve as your Credit Department.

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

Your Virtual Credit Manager

SEPTEMBER 17, 2024

A former client had the necessary credit and collection expertise for their industry. They understood the dynamics that affected their customers and marketplace, as well as the credit controls needed to keep credit risk in check in this environment. Do you need help assessing your customers’ credit risks?

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

Your Virtual Credit Manager

AUGUST 6, 2024

If you should try to eliminate all bad debt losses, chances are you will forego sales to customers that will eventually pay. Aggregate Credit Risk and Seamless Trading An important goal for your business is to trade seamlessly with your customers; that is to fulfill their orders completely, accurately and QUICKLY.

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

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.

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Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Lockstep

JUNE 15, 2022

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . External and Supporting Data .

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AR Automation Bad Debt Accounts Receivable (AR) DSO 91

Your Virtual Credit Manager

DECEMBER 27, 2022

Collateral: Collateral can be used to secure any type of credit offering. Collateral can be a physical asset, such as real estate, equipment, and inventory, or it can be a financial asset, such as stocks, bonds, and accounts receivable (AR). Email YVCM About Consulting And Credit Scores.

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

Lockstep

JULY 27, 2022

Increased administrative costs: Businesses may need to hire additional staff to handle customer credit accounts and collections. . Credit risk: Extending credit to customers can be risky, especially if they have a history of not paying their bills on time. . How can I mitigate risk with customer credit reports?

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

Your Virtual Credit Manager

APRIL 30, 2024

Also, once granted, extended payment terms are very difficult to rescind. If other accounts learn of your granting extended payment terms to one customer, it is likely they will demand the same, further increasing your investment in Accounts Receivable (AR) and straining your cash flow.

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Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 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. Photo by Keren Fedida on Unsplash Each business customer presents a unique set of circumstances.

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

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.

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

Your Virtual Credit Manager

AUGUST 11, 2024

(Photo by Kind and Curious on Unsplash ) With bankruptcy filings skyrocketing and this trend expected to continue, trade creditors should prepare for delinquencies to rise within their accounts receivable (AR) portfolios. Subscribe now Do you need help assessing customer credit risks?

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Your Virtual Credit Manager

MAY 2, 2023

Epiq Bankruptcy: Bankruptcy Filings Increase Across All Chapters in March; Commercial Filings Up 79 Percent Year-over-year If you are extending credit to other businesses on open terms, reassessing your company credit policies as well as the latent risks that may affect accounts receivable (AR) performance and cash flow should be a top priority.

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Bankruptcy Credit and Collections Accounts Receivable (AR) Default 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. Remember, a “clean” AR Ledger is the objective.

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

Your Virtual Credit Manager

AUGUST 27, 2024

To continue reading and learn four essential risk-based questions to ask when evaluating a customer’s credit-worthiness, you must be a paid subscriber to Your Virtual Credit Manager. Do you need help assessing customer credit risks? What are the risks?

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Accounts Receivable (AR) Default Credit and Collections Cybersecurity 100

lsq

JUNE 24, 2024

In the rapidly evolving financial landscape, regional banks are continually seeking innovative ways to enhance their value proposition to clients. One of the most promising areas of growth is the partnership with FinTech firms to offer working capital solutions, such as: supply chain finance (SCF) and accounts receivable (AR) finance.

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Accounts Receivable (AR) Days Sales Outstanding DSO Credit Risk 52

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? Credit management and monitoring. Send online credit applications to both existing customers and potential prospects.

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AR Aging Credit and Collections Bad Debt Allowance for Doubtful Accounts 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. Below, we’re reviewing some of the top accounts receivable challenges in 2023 and offering quick ways to shore up your collections process.

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

Lockstep

NOVEMBER 8, 2022

Seattle, WA – – Lockstep , the award-winning accounting automation pioneer, today announced it has partnered with SYSPRO to grow the connected accounting network. Lockstep will provide SYSPRO’s North American customers access to award-winning accounts receivable (AR) automation software, Lockstep® Receivables.

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AR Automation Accounts Receivable (AR) Automated Cash Application Invoice to Cash 123

Your Virtual Credit Manager

MARCH 26, 2024

Economic circumstances may prompt a vendor to either tighten or loosen its credit policies and customer credit limits. Going beyond the impact of macroeconomic trends, a company’s customers operate in dynamic business environments, and for a majority of them, the credit risk they pose is either increasing or decreasing.

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Bankruptcy Bad Debt Credit Scoring Chapter 11 130

Your Virtual Credit Manager

AUGUST 20, 2024

In the face of an economy being buffeted by opposing trends, what should those with credit and collection responsibilities do to protect their organizations’ accounts receivable (AR)? Subscribe now Do you need help assessing customer credit risks? Difficult times call for forward thinking.

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Credit Management Credit and Collections Accounts Receivable (AR) Bankruptcy 130