Your Virtual Credit Manager
OCTOBER 15, 2024
Full Speed Ahead for Collections Effective collections management is key to maintaining healthy cash flow and minimizing overdue accounts, which will reduce your risk of bad debt losses. To continue reading and learn how to adapt your collection efforts to the current economic challenges, you must be a paid subscriber.
Your Virtual Credit Manager
APRIL 16, 2024
Despite advances in workflow automation and payment technology, collecting commercial receivables is not getting any easier. Employ Technology: Automated billing systems, debt collection software, auto-cash, and other tech tools effectively streamline your cash conversion process. check, ACH, credit card, etc.),
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Your Virtual Credit Manager
MARCH 14, 2023
Commercial collections is no different. Collection myths can be found at the very root of bad decisions as well as informing counter-productive activities. Adhering to collection myths more often than not leads to bad outcomes. Simply put, collection myths get in the way of doing the best job possible. Subscribe now 1.
Your Virtual Credit Manager
JANUARY 16, 2024
If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. You need to be doing the right things.
Your Virtual Credit Manager
DECEMBER 26, 2023
In our case, we found our readers had an affinity for articles on identifying collection risks and the best ways of dealing with past due balances. Photo by Kelly Sikkema on Unsplash ) We are therefore providing you with an overview of three very popular articles along with links to the originals.
Your Virtual Credit Manager
NOVEMBER 21, 2023
For most small businesses, collections are reactive. In the meantime, routine collections are driven by passive activities, often just a monthly statement. While statements provide a history of invoice, credit, debit and payment activity on an account, dunning notices focus on past due balances.
Your Virtual Credit Manager
MARCH 19, 2024
If all your customers paid promptly — by the time the invoice was due — you would not need to do any collection work. Collections is a reactive process. The amount of collection activity with which you are tasked is directly proportional to your customers’ payment habits.
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