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.
Emagia
FEBRUARY 21, 2025
Top Accounts Receivable Automation Software Vendor: Emagia Emagia: The Leading AI-Powered Accounts Receivable Automation Software Emagia is a top-tier provider of AI-driven accounts receivable automation solutions, offering businesses a smarter and more efficient way to manage their order-to-cash cycle.
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Your Virtual Credit Manager
FEBRUARY 25, 2025
To better deal with these customers, it is helpful to segregate them into three groups: Those who are financially strong (low credit risk) and are trying to increase their cash position through late payments. There are service bureaus that can help you with security agreements, as can an attorney.
Your Virtual Credit Manager
NOVEMBER 14, 2023
Selling only to financially strong customers reduces the risk of bad debt loss, (and the cost of Credit and Collections activity required). Most companies, however, need incremental sales volume from higher-credit-risk customers to break even and achieve profitability. it just might help them pay you sooner!
Lockstep
JUNE 15, 2022
Workflow diagrams are useful for mapping out communications and inter-departmental relationships. . Once you have your internal workflow mapped out, you can look at external data to help determine your credit risk limits. . B2B credit management is a complicated, but important process, containing many moving parts.
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.
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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