Your Virtual Credit Manager

NOVEMBER 14, 2023

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. What’s Right for Your Firm?

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Credit Sales Bad Debt Credit and Collections Credit Risk 130

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.

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Collector Credit and Collections Default Third Party Collections 130

Abrigo

AUGUST 8, 2021

Independent Loan Review Systems in Banking Banking regulators have outlined expectations for effective, independent loan review and credit risk review. . Would you like other articles on loan review in your inbox? Takeaway 2 However, a loan review or credit risk review program should accomplish several key objectives.

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Credit Risk Credit Unions CECL Credit and Collections 78

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.

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Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Your Virtual Credit Manager

JANUARY 2, 2024

Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. For most firms, late customer payments are a frequent occurrence and collecting them can be a difficult task. Collections also has to be done effectively with minimal alienation of customers.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Credit Management 130

Abrigo

FEBRUARY 12, 2025

Banks & credit unions use technology to solve challenges AI today is the result of decades of research and development. Financial institutions have embraced advances in data-driven decision-making , using them to improve credit assessment, fraud prevention, and financial inclusion.

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Credit and Collections Credit Reporting Agencies Credit Unions Credit Risk 88

Your Virtual Credit Manager

DECEMBER 27, 2022

For example, there are firms burning through their cash reserves that may still be considered worthy of credit on their next order, but not the order that comes in three months from now. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank.

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Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 130

Abrigo

SEPTEMBER 23, 2024

Would you like other articles like this in your inbox? Data for banks & credit unions Real-time pricing trends for loans Now that the Fed has lowerered interest rates , financial institutions will want to carefully monitor current loan interest rate trends in their markets to remain competitive as rates drop.

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Credit Unions Credit Risk Credit and Collections Small Businesses 88

Abrigo

OCTOBER 21, 2024

How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. They would then be able to take steps to mitigate or avoid the losses as much as possible.

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Credit Unions Default Credit and Collections Credit Risk 78

Your Virtual Credit Manager

JANUARY 23, 2024

Approving a customer for credit terms is merely the first step in an open credit relationship. Economic circumstances may cause you to tighten your credit policies and customer credit limits. The remainder of the review will mirror an initial credit evaluation (here’s more information on Evaluating Credit ).

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Credit Application Bad Debt Bankruptcy Credit Scoring 130

Abrigo

SEPTEMBER 25, 2024

Would you like other articles like this in your inbox? Understanding the role of E-Tran in SBA lending is the first step for banks and credit unions to ensure smooth loan processing. Credit unions only make 2.4%. But both banks and credit unions have substantially increased their lending activity through 7(a) since 2020.

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Credit Unions Credit Risk Credit and Collections Small Businesses 151

Your Virtual Credit Manager

MARCH 12, 2024

As a result, trade credit, where businesses extend financing to customers, is undergoing rapid advancements, but it also poses high risks, especially in assessing creditworthiness, dealing with economic fluctuations, and fraud. Are there past due accounts you are trying to collect? it just might help them pay you sooner!

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AR Transformation Credit and Collections Accounts Receivable (AR) Order to Cash 100

Your Virtual Credit Manager

JULY 18, 2023

Photo by Campaign Creators on Unsplash Commerce between companies is facilitated by a trade credit relationship. When a supplier or vendor grants open credit terms to their business customers, both parties benefit. It’s important to keep in mind Pareto’s theorem when you are approving credit.

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Credit and Collections Credit Scoring Credit Management Credit Application 130

Your Virtual Credit Manager

DECEMBER 5, 2023

This misguided search for a singular understanding applies to many things, including collecting Accounts Receivable (AR). Optimal Collection results are achieved by utilizing different collection techniques with different types of customers. How do you determine which customer types merit which collection protocols?

Credit and Collections 130

Credit and Collections Third Party Collections Accounts Receivable (AR) Credit Risk 130

Your Virtual Credit Manager

JANUARY 3, 2023

Photo by DESIGNECOLOGIST on Unsplash Editor’s Note: To start off the New Year, we’re bringing back three of the most popular YVCM articles from 2023. We’ve condensed the articles to save you time, but have also provided links to the originals should you want to take a deeper dive. Update your customer master file.

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AR Automation Collector Credit and Collections Bad Debt 130

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

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Credit Risk Bad Debt Credit and Collections Default 52

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

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Credit Risk Default Credit Management Credit and Collections 52

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

Your Virtual Credit Manager

DECEMBER 6, 2022

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you. it just might help them pay you sooner!

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DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

JUNE 13, 2023

Open Credit Terms dominate the Business-to-Business (B2B) marketplace. Photo by Jamie Street on Unsplash There are two types of credit risk that arise from selling on open credit terms: Customers paying beyond terms (past due) reduce your cash flow. These bad debt losses can put your own business at risk of failure.

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Credit and Collections Bad Debt Default Credit Risk 26

Your Virtual Credit Manager

JULY 2, 2024

Moreover, if you are trying to collect from a small business, you may have to deal with the owner, who will have a lot on their plate in addition to their debt to your company. New to collections? You should attend Introduction to Business/Commercial Collections on Tuesday, July 16 at 1:30 PM EDT. annualy, forever.

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Collector Debt Collections Past Due Invoices Credit and Collections 130

Abrigo

AUGUST 29, 2022

E-signature capabilities benefit both customers and staff Banks and credit unions that leverage electronic signature capabilities reap the benefits of a more efficient lending process. Would you like other articles like this in your inbox? Takeaway 1 Optimize the signature collection process. Lending & Credit Risk.

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Credit Unions Credit Risk Credit and Collections 78

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Starting in October, free subscribers will only receive the introductory section of our weekly articles. Plus, you will get full access to our growing archive of over 100 articles! Now that you understand that your customer has become a liability, it’s time to review their credit worthiness again so you can make informed choices.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Serrala

SEPTEMBER 7, 2023

Read more Bild Collections & Disputes Automate and optimize collections processes and improve customer engagement. Reduce DSO and optimize working capital with the most comprehensive collections software. Read more Bild Collections & Disputes Automate and optimize collections processes and improve customer engagement.

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Credit and Collections Order to Cash Cash Applicator DSO 98

Know-It Global

DECEMBER 20, 2023

A record-breaking year for signups, over £25 million in late payments collected in platform, key hires made, awesome product updates and even a trip down under all squeezed into 1 year. Chris also works with Darcey Quigley & Co our in-app Collect-it partner! This allows users to automate the entire credit control process with ease.

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Credit and Collections Debt Collections Credit Management Credit Risk 105

Abrigo

JULY 20, 2021

Would you like others articles like this in your inbox? In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA lending this year and beyond. Looking to Increase Loans through the SBA? 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Abrigo

JULY 20, 2021

Want other articles like this on SBA loan origination in your inbox? In a recent survey of more than 250 bankers representing banks and credit unions, 61% of respondents said their financial institution plans to maintain or increase SBA loan origination this year and beyond. Looking to Increase SBA Loan Origination? 1 and Sept.

Credit Unions 78

Credit Unions Credit Risk Credit and Collections Small Businesses 78

Your Virtual Credit Manager

AUGUST 11, 2024

In addition to a comprehensive and pro-active collection regimen, the first line of defense for credit grantors involves regular monitoring of their AR portfolio for customers exhibiting red flag behaviors. Your Virtual Credit Manager has already covered this topic from several different perspective.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Know-It Global

APRIL 13, 2023

Since you’re here reading this article we suspect you’re having issues with not being paid on time. Debtor days, or as some call days sales outstanding (DSO), is a measure of how long it takes for a company to collect payment from its customers. High debtor days figures suggest that a business takes too long to collect payment.

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Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Know-It Global

JULY 26, 2023

In this article, we’ll outline 15 actionable steps that can help you significantly reduce debtor days and optimise your cashflow! Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Struggling for time?

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Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98

Know-It Global

APRIL 19, 2023

This is why following solid credit control processes are so important. Credit control basics you can start implementing today Business credit checking The very first step you should take when accepting a new order is to credit check the company placing the order. Sign up today and get a free business credit report !

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Bad Debt Credit and Collections Credit Risk Credit Management 98

tillful

MAY 12, 2023

A poor business credit score or thin credit history can get in the way when applying for small business loans. This is especially true in higher interest rate environments, when lenders pull back on credit (like now). In this article, we’ll talk about how you can qualify for business loans, and which options to look into.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Default 98

Know-It Global

JULY 19, 2023

In this article, we will explore what a cashflow forecast is and how businesses can utilise it to make informed decisions. Automatically boost your cashflow with Know-it Know-it automates the complete credit control process, ensuring your business is paid for the work it carries out or goods it delivers. What is a Cashflow Forecast?

Credit and Collections 98

Credit and Collections Credit Risk 98

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks.

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Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Abrigo

OCTOBER 9, 2014

This article is the second in a two-part series on top concerns and growth strategies of community banks. C&I loans require a different type of financial data than the bank may be accustomed to collecting or analyzing. To properly asses the credit risk of that entity, the bank must perform a global analysis.

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Credit and Collections Credit Risk 94

Abrigo

JANUARY 11, 2022

Takeaway 1 ALM in banking means managing the cash flows of assets and liabilities to increase profitability, manage risk, and maintain safety and soundness. . Takeaway 2 Rather than helping financial institutions avoid risk entirely, ALM helps ensure a bank or credit union's risk exposures represent levels in line with policy limits. .

Credit Unions 78

Credit Unions Credit and Collections Credit Risk Default 78