Your Virtual Credit Manager

MARCH 28, 2023

The question you need to answer is: should credit policy be liberal or conservative? Credit Applications and Credit Reports The primary sources of information for you credit evaluation will be found in the customer’s credit application and a credit bureau report.

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Credit Scoring Credit Application Bad Debt Credit Risk 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Starting in October, free subscribers will only receive the introductory section of our weekly articles.

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

Your Virtual Credit Manager

DECEMBER 27, 2022

Subscribe now Sources of Business Credit Information Assessing a firm’s creditworthiness in light of each of these eight factors requires specific information. Here are the five primary information sources used to evaluate an accounts credit risk. Click here for more information about credit applications.

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Credit Scoring Credit and Collections Accounts Receivable (AR) Bankruptcy 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.

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Your Virtual Credit Manager

JANUARY 9, 2024

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics.

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Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

Your Virtual Credit Manager

JANUARY 16, 2024

Who to contact should be information requested on your credit application. Late payments and non-payment are inevitable challenges, necessitating a well-thought-out credit and collections policy.

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Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JULY 18, 2023

often will provide a substantial amount of payment and other financial information, enable you to establish a credit account for a customer, and be confident that they will pay reasonably well. More About Purchasing Credit Reports When Should Financial Statements Be Required? D&B, Experian, Equifax, CreditSafe, etc.)

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Credit and Collections Credit Scoring Credit Management Credit Application 130

Your Virtual Credit Manager

MARCH 19, 2024

For more on systematic collections, check out this article from YVCM’s “Basics Department.” To do this you may want to order an updated credit report as well as recontact any suppliers they provided as a credit reference on their credit application.

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Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

CreditStrong for Business

FEBRUARY 25, 2025

If youre considering asking for an increase in your limit, begin by weighing the benefits and potential drawbacks of a credit increase. Knowing when to do so and if you should raise your credit limit is also important to avoid damaging your credit score.

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Credit Scoring Dashboards Credit Application 52

Gaviti

OCTOBER 30, 2023

In this article, we explore the advantages of autonomous finance, especially as it relates to accounts receivable, and at what point your company should consider employing them, so you can decide if it’s a worthwhile investment for your business.

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Days Sales Outstanding Invoice Collections Credit and Collections DSO 76

Collenda

JANUARY 31, 2024

If the AI recognizes clear violations, a credit application can be rejected directly, and the responsible analyst can be instructed to investigate further if indications are detected. AI solutions can extend to fraud detection, uncovering implausibility in annual reports and drawing the analyst’s attention to them.

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Emagia

MARCH 15, 2024

AI can scan non-financial data, such as court judgements, media news and articles, videos, social media posts, podcasts, etc., to detect potential financial and credit risks of customers. Credit Risk models automatically update the revised credit scores based on the new data and insights generated by the AI algorithm.

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Credit Risk Default Credit Management Credit and Collections 52

Emagia

MARCH 15, 2024

AI can scan non-financial data, such as court judgements, media news and articles, videos, social media posts, podcasts, etc., to detect potential financial and credit risks of customers. Credit Risk models automatically update the revised credit scores based on the new data and insights generated by the AI algorithm.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

apruve

AUGUST 8, 2022

In this article you’ll learn what embedded lending is, and why it is one of the most significant strategies for B2B companies on the modern business horizon. Embedded lending offers a powerful advantage – the ability to become an all-inclusive solution for customers, making it an attractive strategy for B2B and B2C companies alike.

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Credit and Collections Credit Application Transactions 52

Credisense

APRIL 15, 2021

A recent CNBC article showed how HSBC business customers could now open new accounts by using a selfie picture to verify their identity. In a whitepaper, IBM managed to demonstrate how the inclusion of an automated biometric tool for Columbian Co-Operative Bancoomeva would reduce credit application processing time from 17 days to 30 minutes.

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Credit Application 40

CreditStrong for Business

OCTOBER 1, 2024

Technically, a tradeline is any credit account that reports to the credit bureaus. This could be a credit card, personal loan, mortgage, or car loan. For the purposes of this article, we’ll be referring to credit cards. Then the credit account gets removed from your credit report.

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Credit Scoring Credit Reporting Agencies Credit Card Companies Transactions 52

Biz2X

APRIL 13, 2023

Credit monitoring works hand in hand with a bank’s underwriting process. Other lenders have adopted the industry standard of delivering instant decisions on credit applications. For example, many commercial lending institutions have needed to adopt IT standards to minimize the risk of cyber-security threats.

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Credit Unions Default Credit Risk Credit Scoring 52

CreditStrong for Business

AUGUST 20, 2024

The Importance of Checking Your Credit How do you know if your credit is improving or not? You need to check your credit report to find out. Once a year, or each time you have a credit application rejected, you can obtain a free credit report from each credit reporting agency (credit bureaus).

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Credit Scoring Credit Reporting Agencies Credit Card Companies Credit Application 52

Fundera

NOVEMBER 3, 2018

If you solicited a sale that involved a credit application and made no shipment promises in the process, you are permitted to ship your customer’s order within 50 days instead. . Author’s note: This article has been prepared for informational purposes only and not for the purpose of providing legal advice.

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Bankruptcy Credit Application 45

MNS Credit Management Group

AUGUST 11, 2023

Following the advice in this article will help you choose the top debt collection agency in Singapore.” A record of payment on any account, a report on recovery rates posted to your company’s website, or at the very least a monthly statement should be provided by the debt collection agency you use.

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Debt Collections Collector Out of Court Settlement Credit and Collections 52

Fundera

MAY 31, 2020

In this guide, we’ll break down what a letter of credit is, how a letter of credit helps small business owners, and how you can take advantage of one if the occasion demands it. Article Table of Contents: What Is a Letter of Credit? How Does a Letter of Credit Work? How to Get a Letter of Credit.

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Transactions Small Businesses Credit Scoring Credit Application 49

Fundera

DECEMBER 18, 2017

If your business fulfills those qualifications, then your next move is to get your application paperwork together. Most business line of credit applications will require the following documents: Driver’s license. Credit score. Consider a small business credit card. At least $50,000 in annual revenue.

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Credit Scoring Small Businesses Invoice Amount Deductions 63

Your Virtual Credit Manager

DECEMBER 13, 2022

Share The Collection Calling Process Establish Communications: Hopefully, contact information for the people responsible for paying your customer’s bills was captured during your new customer on-boarding process and in your credit application. If there is an invoice discrepancy, are they willing to pay the undisputed balance?

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Collector Credit and Collections Past Due Invoices Credit Management 130

Gaviti

MARCH 11, 2025

In today’s dynamic financial landscape, effective B2B credit management is paramount for businesses aiming to maintain financial stability and foster growth. The evolution of technology has introduced advanced tools that enhance risk assessment, streamline credit processes, and mitigate potential financial losses.

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Credit Risk Credit Scoring Credit and Collections Credit Application 52

Bectran

MARCH 5, 2025

When steps are not taken to root out its underlying causes, credit managers may begin to approve new credit applications more sparingly. This article will cover the intricacies of segmenting customers by risk of default and the subsequent communication strategies to be employed with each segment.

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Bad Debt High-Risk Accounts Credit and Collections Default 52