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

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. Final Thoughts.

Bad Debt 130

Bad Debt Credit and Collections DSO Days Sales Outstanding 130

Your Virtual Credit Manager

FEBRUARY 21, 2023

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. If your AR is deteriorating, you better diagnose the problem as quickly as possible so you don’t incur cash flow problems and bad debt losses.

DSO 130

DSO Credit and Collections Collection Effectiveness Index Bad Debt 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

JANUARY 17, 2023

Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. The sales team learned very quickly that eliminating the friction from the billing and payment processes facilitated earlier customer payments, hence larger commissions.

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

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.

Credit and Collections 130

Credit and Collections Collector Accounts Receivable (AR) AR Automation 130

Your Virtual Credit Manager

JULY 11, 2023

Accounts Receivable (AR) is among the three largest assets on most companies’ books — inventory along with plant and equipment are the other two. AR is also the primary source of cash to fund daily operations. and then multiplying that figure by the number of days in the period you are using.

Best Possible DSO (BPDSO) 100

Best Possible DSO (BPDSO) DSO AR Metrics Credit and Collections 100

Your Virtual Credit Manager

AUGUST 29, 2023

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. If DSO is rising, you are falling behind.

DSO 130

DSO Credit and Collections Bad Debt Collection Effectiveness Index 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. What you want to do is close the gap between DSO and BPDSO.

Best Possible DSO (BPDSO) 130

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

DSO 130

DSO Credit and Collections Bad Debt AR Aging 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). . Get Started with Lockstep Today! Learn More.

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AR Automation Bad Debt DSO Accounts Receivable (AR) 91

Lockstep

NOVEMBER 16, 2022

In today’s fast-paced, competitive business environment, it’s more important than ever to optimize your accounts receivable (AR) processes. One way to do this is by leveraging automated customer communications as part of your broader accounts receivable automation strategy.

AR Automation 90

AR Automation Accounts Receivable (AR) Days Sales Outstanding DSO 90

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

Your Virtual Credit Manager

APRIL 2, 2024

As such, they are just one of the many tools, such as credit reports, supplier and bank references, and financial statement analysis, that can help assess a business's creditworthiness. Commercial credit scores are often not as well understood as consumer credit scores such as FICO.

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Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Lockstep

MAY 17, 2022

This week, we are celebrating the success of our wonderful customers, because accounting teams are the backbone of every business. Even more so, without the organization and fortitude of the accounts receivable (AR) teams, cash flow would be a “cash trickle.” .

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Accounts Receivable (AR) Days Sales Outstanding DSO 52

Gaviti

JULY 11, 2024

By centralizing data in one place, you’ll allow for A/R and finance teams as well as marketing, sales and procurement to see metrics such as days sales outstanding (DSO), unique KPIs and customer risk assessments. Make better credit decisions, lower DSO, and reconcile payments with near perfection.

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DSO AR Automation Credit and Collections Bad Debt 52

billtrust

NOVEMBER 1, 2022

The primary goals of accounts receivable The best KPI for accounts receivable Ten AR optimization goals you should accomplish How to get paid faster with key collection strategies How accounts receivable automation can eliminate manual tasks.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Bad Debt Days Sales Outstanding DSO 52

Your Virtual Credit Manager

APRIL 11, 2023

Accounts Receivables (AR) require active management. Any O2C friction that results will ultimately have a negative affect on AR performance. Photo by Elisa Ventur on Unsplash When a company’s AR under-performs, the consequences are substantial. There are multiple costs and vulnerabilities that emerge.

Bad Debt 130

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

The Esker Blog

FEBRUARY 21, 2023

When a longer DPO is coupled with shorter days sales outstanding (DSO) , a company can create a shorter cash-conversion cycle that further increases liquidity, allowing the company to grow. Shorter DSOs are important to small businesses as they depend on shorter payment windows to maintain cashflow.

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Days Sales Outstanding Accounts Receivable (AR) DSO Transactions 52

Your Virtual Credit Manager

NOVEMBER 1, 2022

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?) It also will typically deliver a 10-20 percent improvement in Days Sales Outstanding (DSO) within six months to a year.

Credit and Collections 130

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

Gaviti

SEPTEMBER 19, 2022

In particular, we’re seeing automation become the norm in accounts receivable (AR) functions, with teams seeing immediate results from streamlined collections processes and improved cash flow. . Monitoring AR metrics like days sales outstanding ( DSO ) is one of the best places to start.

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AR Automation AR Metrics DSO Accounts Receivable (AR) 52

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.

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

The Corcentric Blog

JUNE 27, 2023

Accounts Receivable automation has been increasingly adopted by businesses as a way to streamline their financial processes and optimise their cash flow. Many similar technologies are already in use for accounts payable (AP) departments, such as algorithms and AI to automate the processing of invoices received.

AR Automation 52

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

Emagia

JULY 3, 2023

Cash Application Automation for True Straight-Through Processing It takes a lot of human effort for your internal accounts receivable (AR) personnel to manually match payments to customers’ accounts. Consider using cash application software and AR automation to simplify this procedure and reduce manual labor.

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Automated Cash Application Cash Applicator AR Automation Days Sales Outstanding 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.

AR Automation 52

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

Emagia

JUNE 19, 2023

Using an accounts receivable (AR) automation platform like Versapay, you can eliminate manual invoicing and automate this process. In turn, it facilitates efficient payments and reduces days sales outstanding (DSO). This saves time, reduces errors, and prevents lost files.

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

TreviPay

AUGUST 11, 2023

Chief financial officers (CFOs) and treasurers are also under pressure to refine and improve cash flow management practices, reduce unpaid invoice write-offs, and streamline workflows. Conventional AR processes and paper-based workflows do not suit remote work. Other factors have come into play as well, including the following: 1.

Credit Card Payments 52

Credit Card Payments Accounts Receivable (AR) Days Sales Outstanding Transactions 52

Lockstep

MARCH 29, 2022

Marrying this data is important, but you are left checking platforms, ERP, and spreadsheets to accurately connect with customers and vendors. And knowing where you stack up regarding days sales outstanding (DSO) or AR Aging? There’s a better way to manage accounts receivable (AR).

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