Your Virtual Credit Manager
DECEMBER 31, 2024
In our case, we found a continued interest in collection technique and strategy, as well as in fighting credit fraud. What follows is a summary of the three most read article for the 12 months ending in October 2024, and links to the originals. To avoid this, collections should begin within 3-7 days of the due date.
Gaviti
NOVEMBER 21, 2024
This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly impact the bottom line.
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Your Virtual Credit Manager
FEBRUARY 18, 2025
The better you know a customers, the easier it is to make a correct credit decision. One of the biggest challenges for any credit function is making a valid decision when information is lacking. That’s why standard procedure calls for gathering additional credit information until a comfortable decision can be made.
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
APRIL 8, 2025
Here’s a warning to trade creditor’s from a major commercial credit bureau (from CreditSafe’s Cost of Late Payments report). If you are extending credit to other businesses, it’s high time you began watching your customers closely for late payments and other signs of distress.
Your Virtual Credit Manager
JANUARY 14, 2025
Customer past due balances cause cash flow shortages, increase the need for borrowing, and create a significant work requirement in order to accelerate collections. When you do eventually get paid, you recover the cost you expended in fulfilling the customer order less the cost of collections and any interest on loans.
SAP Credit Management
JANUARY 31, 2023
Here, in this article, I am describing the steps involved in connecting such a third-party shop floor system with SAP MII using SOAP Web service methods instead of the traditional OPC integration methods. Prerequisites: ME data collection parameters setup completed as required To make the Web service call, create a ME/MII UME service user.
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