article thumbnail

Debt Collection Mistakes Can Prove Costly

Your Virtual Credit Manager

Time is as much an enemy as anything else when you are charged with collecting past due accounts receivable (AR), so it is crucial you don’t waste time by making mistakes, which will also serve to elongate the collection process.

article thumbnail

Is Your Collection Agency a Good Fit?

Your Virtual Credit Manager

Market volatility and rising costs are instead disrupting working capital budgets, causing late payments that inflate accounts receivable (AR). Employ Technology: Automated billing systems, debt collection software, auto-cash, and other tech tools effectively streamline your cash conversion process.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Are You Your Own Worst Enemy?

Your Virtual Credit Manager

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.

Bad Debt 130
article thumbnail

How to Automate Accounts Receivable?

Emagia

Automating accounts receivable (AR) is a strategic move for businesses aiming to enhance cash flow, reduce manual workloads, and improve overall financial efficiency. By utilizing real-time data and analytics, companies can make informed decisions about extending credit, thereby minimizing the risk of bad debts.

article thumbnail

How to Efficiently Collect AR and Get Invoices Paid Faster

Enterprise Recovery: Accounts Receivable

As accounts receivables (AR) begin to fall delinquent, your business expenses could fall delinquent as well. The effectiveness of your accounts receivable department may be one of the most important measurements to determine the success of your business.

article thumbnail

What Triggers Your Collection Efforts?

Your Virtual Credit Manager

To address all the contingencies associated with collections and to ensure the collection process is effective, you should follow a predetermined collection strategy. Going forward, you should treat them as a new customer, but in the meantime, you still need to collect any existing debt.

article thumbnail

Stress-free accounts receivable solutions for smoother cash flow

billtrust

There’s nothing like waiting for accounts to come in. What if there was a way to take the stress out of accounts receivable (AR)? You’d be surprised how easy it is to get a grip on your cash flow with the right accounts receivable solutions. Collections. Customer churn.