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.

Credit Scoring 130

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

RMAi Blog

AUGUST 22, 2024

RMAI expanded its scope to include collection agencies, law firms, brokers, and most recently vendors, recognizing their individually diverse roles within the receivables management ecosystem. Making Evolutionary Changes The certification journey commenced in 2012, initially focusing on debt buyers. in the seven years from 2012 to 2018.

Law Firms 147

Law Firms Credit and Collections Debt Collections Transactions 147

RMAi Blog

SEPTEMBER 13, 2024

On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. The report stated that the CFPB received approximately 109,900 debt collection complaints in 2023. The number one complaint type was “attempts to collect debt not owed.”

Collector 130

Collector Law Firms Credit and Collections Debt Collections 130

Lendio

NOVEMBER 17, 2023

Understanding the nuances of financial transactions can be intimidating, with credit card factoring being a prime example. In this article, we’ll dissect the concept of credit card factoring, delve into why it’s illegal, explore common examples, and examine the potential consequences of engaging in such activities.

Credit and Collections 52

Credit and Collections Credit Scoring Transactions Deductions 52

Emagia

AUGUST 1, 2023

One doubt that always pops up regarding is if accounts receivable is a debit or credit. This article will detail the fundamental principles underlying the proper classification of accounts receivable. The amount represents a financial obligation owed to the business, reflecting the outstanding balance yet to be collected.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections Cash Applicator Credit Representative 52

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.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

DECEMBER 19, 2023

Hopefully, that is why you are reading Your Virtual Credit Manager. If, however, there are unpaid invoices that have been allowed to go beyond the 90 day mark, you have a serious collection problem. In most cases (90 percent or more), we find the customer has a valid claim and deserves a credit.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

SAP Credit Management

AUGUST 16, 2023

Leveraging SAP’s Business Technology Platform, Shared Ledger on SAP HANA aims to seamlessly integrate with various e-invoicing solutions, adeptly managing high volume transactional reporting processes. This article discusses the Shared Ledger on SAP HANA, a revolutionary ledger database management solution designed and created by SAP.

Transactions 137

Transactions Small Businesses 137

SAP Credit Management

JULY 31, 2023

This Database has two files Data and Log (Transaction log). The content of the report file is the collection of sql commands for your information. The method to get rid of these out-of-date, pointless txt files will be described in this article. As shown above, file size for MSDBData.mdf was approaching to 4.2

Transactions 155

Transactions 155

apruve

NOVEMBER 14, 2022

Extending trade credit to small and medium-sized businesses (SMBs) can be a smart decision for enterprise organizations that want to increase growth. However, managing a high volume of frequent payments manually hasn’t been easy – until trade credit automation platforms emerged in the market. Benefits of Trade Credit Automation.

Bad Debt 52

Bad Debt Credit and Collections Transactions Default 52

CreditStrong for Business

AUGUST 23, 2024

Small business owners looking for a way to finance and organize purchases will want to know how to get a business credit card. In addition to having the application information ready in advance, you’ll want to know how both personal credit and business credit scores are considered for approval. Why do they ask this?

Credit Scoring 52

Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

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

SAP Credit Management

AUGUST 28, 2023

Interest Calculation Tax authorities may have to calculate and post credit/debit interests on payables/receivables. The Penalty and Interest Simulation Report (transaction code FPI7) is pretty useful: this report simulates the interest and penalty per document on a business partner.

Credit and Collections 138

Credit and Collections Transactions 138

SAP Credit Management

FEBRUARY 9, 2023

Norman Fischer Deliverability guide to ISPs A collection of the email sending and deliverability guidelines published by the world’s major email providers. Kostas Karagkounis Demystifying DMARC a short history of DMARC, explaining the jargon, giving some background into why this is important and how it works.

Transactions 138

Transactions 138

SAP Credit Management

JULY 27, 2023

These translate to business processes extended with an additional step that sends business documents to the tax authorities for registration / approval before business transactions can take place. In addition, you can centrally review the findings and initiate corrections. Available for early adopters as of mid of September 2023.

Dashboards 141

Dashboards Transactions 141

Lendio

JUNE 6, 2023

Bank, as quoted in this Business Insider article, 82% of businesses fail mainly because of poor cash management. At this point, most businesses can only turn to business credit to secure funding from lenders and banks. Lenders and banks generally consider your business credit before offering help—and for good reason.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Transactions 52

Grit

MAY 26, 2024

This article explores the benefits of B2B accounts receivable automation and its key features and demonstrates why it’s time to say goodbye to manual work. Automated systems can handle large volumes of transactions with minimal human intervention, reducing the time and effort required for manual processing.

Collection Effectiveness Index 90

Collection Effectiveness Index Days Sales Outstanding Credit and Collections Bad Debt 90

CreditStrong for Business

SEPTEMBER 27, 2024

Banks don’t review your personal or business credit reports, so you can open them with a limited credit history or even a bad credit score. Helps in Establishing Business Credit Qualifying for financing can be a significant challenge for many small businesses.

Credit Scoring 52

Credit Scoring Credit and Collections Credit Unions Transactions 52

SAP Credit Management

FEBRUARY 10, 2023

In all the API calls, there is a variable called doctype which identifies the type of Financial Transaction you are working with. To help you understand Financial Integration Service APIs, I developed the following Postman collection as an example. that payment has been made for this transaction [ Step 7 ].

Bulk Transfer 134

Bulk Transfer Transactions 134

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.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Abrigo

JULY 25, 2023

How offering FedNow instant payments affects fraud & AML/CFT compliance What financial crime staff can do to prepare fraud and AML functions for implementing the FedNow Service for instant payments. Would you like other articles on fraud and AML/CFT compliance in your inbox?

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

SEPTEMBER 8, 2023

However, banks and credit unions must balance their fraud-fighting obligations with consumer compliance requirements on deposit-availability timeframes and notices under Reg CC. Efficient compliance with both Reg CC and the requirements tied to anti-fraud or anti-money laundering can also greatly impact customer or member experiences.

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Due

JUNE 22, 2023

From helping you build a credit history and offering liability protection to entitling you with bags of rewards – credit cards are, indeed, of thousand utilities. However, do you know your credit card can award you more than what you already know? Read on as this article explores them all!

Credit and Collections 59

Credit and Collections Credit Card Companies Credit Scoring Deductions 59

SAP Credit Management

SEPTEMBER 26, 2023

At the core of RAG is a retrieval module, which scans an extensive collection of texts to identify relevant context passages. Relationships : Many-to-One with Vehicle (a service record is associated with one vehicle) Sales Transaction : Attributes : Transaction ID, date, price, payment method, etc.

Transactions 204

Transactions 204

SAP Credit Management

FEBRUARY 9, 2023

This article describes an insight from Value Engineering in Japan and communications with Value Advisors in abroad. Facts about “Small and Medium-sized enterprises” With 77% of the world’s transactions are touching SAP solutions. SAP has developed content and services since 2004.

Transactions 121

Transactions 121

MNS Credit Management Group

MAY 3, 2023

After demonetization, the government closed all the channels for the creation and transfer of black money, resulting in stringent requirements for the accounting evidence supporting each transaction. In this article, we will explore the causes of these issues, their consequences in the b2b debt collection industry, and potential solutions.

Bankruptcy 52

Bankruptcy Debt Collections Collector Credit and Collections 52

Abrigo

JULY 27, 2023

How banks and credit unions can leverage regtech What FI staff members need to know when considering implementing regtech in the banking sector. Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. What is regtech?

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

Abrigo

JULY 27, 2023

How banks and credit unions can leverage regtech What FI staff members need to know when considering implementing regtech for banks. Would you like other articles on fraud and AML/CFT compliance in your inbox? Of course, banks and credit unions are highly regulated industries, and this is increasing. What is regtech?

Credit Unions 78

Credit Unions Credit and Collections Transactions 78

SAP Credit Management

JULY 27, 2023

EY won an SAP Innovation Award with this application, read more details in their pitch deck and in this article from Axel Janz , Global Head of SAP Products and Innovations at EY. Read more details in this article. Read more details in this article and in the SAP Innovation Awards 2023 Pitch Deck. And of course, SAP!

Transactions 153

Transactions 153

SAP Credit Management

AUGUST 23, 2023

Advanced Log Space Management (ALSM) can help avoid transaction log full situations where applications rarely commit and hold the oldest log file for a very long time. However, ALSM does not guarantee that transaction log full situations never occur. How did the use of the Db2 transaction log develop over time (in percent)?

Transactions 112

Transactions 112

SAP Credit Management

AUGUST 24, 2023

Architecture of RAP: Business Object: A Business Object (BO) is a collection of tree Nodes (Entities) where each Node (Entity) represents one CDS View. CDS Transactional Query: CDS transactional queries are used to model the projection layer of a RAP business object.

Transactions 147

Transactions Default 147

SAP Credit Management

AUGUST 29, 2023

In this article we advocate that storefront performance testing should be performed regularly and as early as possible, so you can detect issues early, before they become problems. We will describe a step by step process to help you design, implement and validate your performance tests, we will focus, specifically, on your storefront.

Transactions 160

Transactions 160

SAP Credit Management

AUGUST 11, 2023

The operator remits venture expenses, collects revenues, and distributes these to the partners, according to their ownership shares. This process can be carried out by using transaction DRFOUT in the source system. The operator manages the venture, arranges venture activities, and maintains accounting records.

Transactions 127

Transactions 127

apruve

DECEMBER 20, 2022

In this article, you’ll find some of the most common ways that accounts receivable fraud is committed and ways to help prevent fraud in your company. To cover this up, the employee credits payments made by other customers toward these open invoices so that they are paid. Credit Card and Check Fraud.

Credit and Collections 52

Credit and Collections Transactions 52

SAP Credit Management

JULY 16, 2023

Hello S4 HANA Experts, Since all of us have started working with S/4 HANA systems usage of Fiori launch pad and Fiori apps has increased in place of SAP GUI transactions. Run the following Transaction /UI2/APPDESC_GET_ALL or Report /UI2/APPDESC_GET_ALL All back-end and reproducible catalogues for all system aliases are replicated.

Transactions 149

Transactions 149

Emagia

JUNE 7, 2023

Accounts Receivable (AR) Days provides valuable insights into the efficiency of a company’s credit and collection processes and plays a significant role in assessing cash flow management. In this article, we will delve deeper into the concep of AR Days, explore its calculation, and discuss its implications for business.

Accounts Receivable (AR) 52

Accounts Receivable (AR) Credit and Collections Transactions 52

SAP Credit Management

JULY 20, 2023

Based on the configuration settings in the backend system (via IMG, transaction SPRO see below), all consecutive retrieve operations are parallelized to improve the processing performance. They are collected and sent to the backend defined by the system alias and via one RFC. The parallelization is active per default.

Transactions 127

Transactions Default 127