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Among other things, commercial bankruptcies have been steadily climbing over the past year. Learn More About YVCM Consulting Case Study: Portfolio Monitoring Pays Off Big-Time About 25 years ago, a credit manager I know saved his company from a seven-figure baddebt loss by monitoring the Internet on his biggest customers.
Cash Flow is the number one cause of small business bankruptcies. The solution is the implementation of credit and collection best practices geared to ensure customer profitability and sufficient cash flow. The company ended up writing off millions of dollars in baddebt.
Credit control is a vital aspect of financial management for businesses. It involves managing creditsales and making informed credit decisions, ensuring timely payment from customers, and minimising baddebt. 3: Debt Recovery and Minimising BadDebt 3.1
Meanwhile, the number of commercial bankruptcies is accelerating. In February, Epiq Bankruptcy reported that commercial Chapter 11 bankruptcy filings climbed 118 percent year-over-year. Ongoing Portfolio Monitoring was critical to turning up the customer intelligence that avoided a huge baddebt loss.
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