Your Virtual Credit Manager

FEBRUARY 28, 2023

Your Virtual Credit Manager (YVCM) previously published an article discussing the pros and cons of Prompt Payment Discounts. It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. If not paid by the discount date, the full amount is due in 30 days.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

Selling only to financially strong customers reduces the risk of bad debt loss, (and the cost of Credit and Collections activity required). Most companies, however, need incremental sales volume from higher-credit-risk customers to break even and achieve profitability. it just might help them pay you sooner!

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

DECEMBER 5, 2023

Share Differentiating Your Customers The two most important customer account characteristics that will foreshadow the Collection Strategy you should pursue are: The size of their AR balance Their credit risk profile As a rule, customers that owe you larger amounts of past due AR should receive more and earlier attention than customers who owe less.

Credit and Collections 130

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

Your Virtual Credit Manager

JANUARY 23, 2024

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. Consequently, the credit manager was able to purchase credit insurance on his customer, and was therefore able to continue approving credit sales, within limits, to the chain store customer.

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 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.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JANUARY 2, 2024

If collections are not done properly and in an adequate frequency , your AR will age, cash flow will decrease, and the risk of bad debt loss will increase. Photo by Kai Pilger on Unsplash ) We have written several articles on collections, which you can find in our archive. To learn more, you will need to be a paid subscriber.

Bad Debt 130

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

Know-It Global

JUNE 22, 2023

ONE OF Scotland’s fastest growing fintechs, Know-It, has unveiled a new service in its cloud-based credit management platform designed to revolutionise the accounting industry. Credit management is essential for accountants, as it allows them to manage their clients’ financials more effectively.

Credit Management 52

Credit Management Credit and Collections Bankruptcy Credit Risk 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

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. Your Virtual Credit Manager is a reader-supported publication.

Chapter 11 100

Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Serrala

SEPTEMBER 7, 2023

Read more Bild Credit & Risk Management Automate processes across your entire credit management lifecycle for faster and more accurate credit decisions and less manual activities. Reduce DSO and optimize working capital with the most comprehensive collections software. section-marketo-background').length>0){

Credit and Collections 98

Credit and Collections Order to Cash Cash Applicator DSO 98

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

Your Virtual Credit Manager

JUNE 13, 2023

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. Sound Credit and Collection practices will help you navigate the impact of these risks. it just might help them pay you sooner!

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Your Virtual Credit Manager

DECEMBER 6, 2022

Unless you have a relatively small number of customers who are financially strong and pay on time, you will need to develop an AR Management capability. As a reader of Your Virtual Credit Manager, you can access reasonably priced business credit reports from multiple bureaus through Accredit , a leading reseller.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

JULY 2, 2024

The author of this article, David Schmidt, will be leading this webinar, which reviews the fundamental skills required to successfully collect past due B2B invoices. These account provide a serious credit risk, and should not be approved for open credit terms. Do you need help managing credit and collections?

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 130

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! Raise Their Prices: When you have a high credit risk customer, you should be charging them the highest price possible. Offer ends 9/30/23.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Know-It Global

JULY 26, 2023

Efficient management of debtor days is crucial for businesses seeking to maintain a healthy cashflow. In this article, we’ll outline 15 actionable steps that can help you significantly reduce debtor days and optimise your cashflow! Well-trained employees contribute to a streamlined credit control process.

Electronic Funds Transfer 98

Electronic Funds Transfer Credit and Collections Debt Collections Bad Debt 98

Your Virtual Credit Manager

DECEMBER 27, 2022

From the creditor’s perspective, however, the longer the terms the greater the credit risk. Subscribe now Sources of Business Credit Information Assessing a firm’s creditworthiness in light of each of these eight factors requires specific information. Credit grantors will often consider other factors as well.

Credit Scoring 130

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

Know-It Global

DECEMBER 20, 2023

March Our First Customer Success Manager – Clara Gobrecht With more and more subscribers on our amazing credit management platform every day, Clara was introduced officially as Know-it’s first customer success manager who is on hand to give support to our users to help them get the most out of the Know-it platform!

Credit and Collections 105

Credit and Collections Debt Collections Credit Management Credit Risk 105

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.

Sub-Chapter V 100

Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Your Virtual Credit Manager

MARCH 12, 2024

Photo by David Gardiner on Unsplash ) Updating trade credit programs goes beyond defensive measures; it should also align with growth strategies, lower operational costs, and enhance the customer experience. The experts at Your Virtual Credit Manager can help you bring in the cash. it just might help them pay you sooner!

AR Transformation 100

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

Your Virtual Credit Manager

MARCH 28, 2023

The rule of thumb is the longer in business the lesser the credit risk. With relatively small dollar credit requirements, you can save money buying a credit score (or credit score report) rather than a full credit report. Need help setting credit policies and procedures?

Credit Scoring 130

Credit Scoring Credit Application Bad Debt 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. What do you need help doing?

Collector 130

Collector Credit and Collections Default Third Party Collections 130

Your Virtual Credit Manager

JULY 18, 2023

If you can’t justify a small credit limit, make them pay by credit card or in advance. Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit.

Credit and Collections 130

Credit and Collections Credit Scoring Credit Management Credit Application 130

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. Automate your credit control to mitigate credit risk, reduce debtor days and boost cashflow! Know-it is the all-in-one credit management platform that automates the complete credit control process.

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

SAP Credit Management

JANUARY 13, 2023

This blog article will explore operational and financial considerations for this supply chain model and some leading practices and methods to enable this model in SAP and S/4HANA ERP. The Principal company or the Hub entity should be allocated more management control and business risks (e.g.

Transactions 170

Transactions Credit Risk 170

Your Virtual Credit Manager

MAY 2, 2023

A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks. At this juncture, open credit terms should only be granted to firms with a solid credit profile. Anything less, and you should be looking for ways to offset the risks posed by open terms.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

SAP Credit Management

AUGUST 29, 2023

TPM60CVA offers an enhanced functionality to calculate the Net present value by taking into account the credit risk associated with the external bank and own organization, thus further adjusting the value allowing for a more accurate assessment of the financial position.

Transactions 162

Transactions Default Deductions Credit Risk 162

Know-It Global

APRIL 19, 2023

Set suitable credit limits Based on the creditworthiness of the customer, a credit limit is set, which is the maximum amount of credit that can be extended to the customer. This will mitigate credit risk whilst also allowing you to accept orders and generate revenue from sales.

Bad Debt 98

Bad Debt Credit and Collections Credit Risk Credit Management 98

Know-It Global

AUGUST 18, 2023

Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based credit management platform in Australia for 2024. Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52

Know-It Global

JULY 27, 2023

Now, QuickBooks users will be able to get the Know-it app directly from the QuickBooks App Store and seamlessly connect their accounts package to the cloud-based credit management platform. In addition to seamlessly integrating with QuickBooks, Know-it provides customers with real-time credit tracking and data intelligence.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

AUGUST 7, 2023

QuickBooks users will now be able to download the Know-it app directly from its App Store and connect their accounts package to the credit management platform. In addition to seamlessly integrating with QuickBooks, Know-it provides customers with real-time credit tracking and data intelligence.”

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

FEBRUARY 26, 2024

Integrations with the likes of Creditsafe , Companies House , The Gazette , Unsecured Creditor Claims, Darcey Quigley & Co , Xero , Sage Business Cloud , QuickBooks , FreeAgent and now Sage 50 , Know-it brings unparalleled data insights that allows businesses to mitigate credit risk, reduce debtor days and boost cashflow through automation.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

AUGUST 16, 2023

This strategic move aims to deliver Know-it’s credit management solution to the Australian market, ensuring that Australian SMEs have access to the platform to effectively manage their credit control process. This article was first published by Fintech Global.

Credit and Collections 52

Credit and Collections Credit Risk Credit Management 52

Know-It Global

AUGUST 18, 2023

Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based credit management platform in Australia for 2024. Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52

Know-It Global

AUGUST 16, 2023

Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based credit management platform in Australia for 2024. Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52

Know-It Global

AUGUST 16, 2023

Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based credit management platform in Australia for 2024. Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52

Know-It Global

AUGUST 16, 2023

Scottish fintech Know-it is no exception, as they have announced the launch of their cloud-based credit management platform in Australia for 2024. Our platform, is the first of its kind, enables companies to perform credit checks, automate payment chasing, collect overdue invoices, and more in one place.

Credit and Collections 52

Credit and Collections Credit Management Credit Risk 52