Your Virtual Credit Manager

JANUARY 3, 2023

Do not match unapplied credits with open deductions and debits unless there is documentation to relate them or you will be in violation of escheatment laws. Write off the older, smaller deductions, debit memos, and even small invoices that will cost more to resolve than they are worth. Update your customer master file.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

(Photo by Aziz Acharki on Unsplash ) Because Credit Policy is a part of Sales Policy, how you manage credit impacts company profits. How then does your Credit Policy affect your overall profitability? It affects the level of bad debt loss (uncollected Accounts Receivables) you suffer. The policy cost is acceptable.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Lockstep

JUNE 15, 2022

As such, the primary goal of a credit plan is to clearly define these elements so that employees adopt documented steps and procedures designed to improve all related business processes. . Your credit plan provides a documented roadmap aligning corporate goals with business processes. Getting Started . External and Supporting Data

AR Automation 89

AR Automation Bad Debt DSO Accounts Receivable (AR) 89

Lockstep

JULY 27, 2022

However, there are also some risks associated with offering customer credit, including: . Bad debt: If customers don’t pay their bills, businesses can end up losing money on the sale. . By leveraging automation for customer credit scoring, businesses can make the process easier and more accurate.

Credit Scoring 86

Credit Scoring Accounts Receivable (AR) Bad Debt AR Automation 86

Gaviti

FEBRUARY 6, 2023

Digitalizing manual AR processes can be the single biggest improvement an AR team makes to its workflow, though care must be taken to make changes carefully and deliberately, lest the transformative nature of automation disrupts more processes than was originally intended.

AR Automation 52

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

Serrala

MARCH 14, 2024

With our AI-powered cash application, collections and disputes, credit risk management, and Bill Pay solutions, your company can achieve high AR automation and payment matching rates of up to 99%. Read more Our solutions give you the power to automate processes across your credit risk management lifecycle.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk AR Automation 52