Your Virtual Credit Manager

JANUARY 3, 2023

Email us to learn how the experts at Your Virtual Credit Manager can help you clean up your AR Ledger and increase cash flow by improving your Collection Process. During 1995, DSO was reduced by an additional 10 percent, and bad-debt write-offs cut in half. This included a 100 percent increase in past due collected.

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AR Automation Collector Credit and Collections Bad Debt 130

MNS Credit Management Group

JULY 12, 2023

Bad debt recovery: What is it? The money that your company receives after writing off bad debt as uncollectible is known as bad debt recovery. When the borrower is unable to repay the lender within the allotted time, the bad debt recovery process is initiated. How can bad debts be recouped?

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Your Virtual Credit Manager

JANUARY 16, 2024

Here then are eleven mistakes that business debt collectors should avoid: 1. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. A little training goes a long way in helping collectors be more effective. What do you need help doing?

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Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

APRIL 18, 2023

Smaller agencies will often work with small companies whose collection requirements involve much less than one FTE (full-time equivalent employee) — large agencies typically want enough business from their clients to support a half-time or full-time collector. to minimize the chance of bad debt loss.

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Bad Debt Credit and Collections Third Party Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

NOVEMBER 1, 2022

Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. The eternal challenge for collectors is that that there are typically more customers to be contacted than time and resources allow. Buy Credit Reports When Is it Time to Automate Collections?

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Credit and Collections Past Due Invoices Bad Debt Accounts Receivable (AR) 130

Your Virtual Credit Manager

DECEMBER 6, 2022

This software firm did not actively manage its AR. The company ended up writing off millions of dollars in bad debt. In addition, bad debt and concession expenses decreased by several million dollars annually. For this company, and for most companies in B2B markets, managing AR is an important function.

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DSO Credit and Collections Bad Debt AR Aging 130

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

Gaviti

SEPTEMBER 6, 2023

Cash Application: A New Era of Accuracy and Efficiency As Gaviti is a platform built by collectors for collectors, we understand the challenges that come with manual cash application processes – the potential for errors, time-consuming matching tasks, and the overall drain on resources.

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Cash Applicator Credit Application Collector Bad Debt 98

JSP Credit Management

OCTOBER 10, 2021

If AI can be used to handle complex legal matters, credit lending decisions and the distribution of work for millions of people then the question is could it also be used to undertake the entire debt collection process? Well, let’s look at it from the owner of the debt’s perspective.

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Your Virtual Credit Manager

NOVEMBER 29, 2022

Your credit application should include all this information. A recent credit bureau report is also helpful in this regard. Your Virtual Credit Manager now offers reasonably priced business credit reports through Accredit, a leading reseller of credit bureau reports.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 130

JSP Credit Management

NOVEMBER 15, 2021

However, and despite what the title of this blog may suggest, we have not decided to abandon credit management for a career in tourism or life coaching. These ageing buckets are really important for businesses to monitor the profile of their aged debt and produce targets and forecasts for cash collection.

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Collector Credit and Collections Bad Debt DSO 52

MNS Credit Management Group

DECEMBER 2, 2022

Who are debt collectors? A corporation or agency that recovers money owing on past-due debts is known as a debt collector. Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Introduction. Key Takeaways.

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Debt Collections Collector Credit and Collections Bad Debt 52

TreviPay

SEPTEMBER 18, 2024

By offering protection against non-payment, trade credit insurance helps businesses avoid financial strain, improve cash flow and maintain a stable credit management process. How Does Trade Credit Insurance Work? Indemnity Percentage: The indemnity percentage refers to the portion of the debt covered by the insurer.

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Bad Debt Default Credit and Collections Export Credit 52

MNS Credit Management Group

MAY 28, 2022

The latest modification to Reg F, lenders’ digital-first strategy to engaging with consumers, and the improving economy are all going to make things more difficult for third-party collectors. A smart outbound system can increase debt recovery up to three or four times. Also Read: What is A Business Credit Report?

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Debt Collections Collector Credit and Collections Bad Debt 52

JSP Credit Management

SEPTEMBER 28, 2021

So a career in various credit management roles before JSP Credit Management being born of over 15 years has left us extremely well placed to pass comment on some potential causal factors affecting non-payment. or contact us on 01827 66820 to discuss your needs.

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Credit and Collections Collector Bad Debt Debt Collections 52

MNS Credit Management Group

SEPTEMBER 24, 2023

In addition to giving solicitors instructions to start legal proceedings, we also offer credit management services including sending letters of demand prior to legal action, a service that looks into a company’s history, credit reports, and status reports.

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Your Virtual Credit Manager

DECEMBER 24, 2024

Perhaps more than any other SMB function, Accounts Receivable (AR) Management gets put on a back burner because it is nobody’s prime responsibility. The only time AR comes to the forefront is when there is economic turmoil and an increased risk of bad debt losses. Otherwise, controllers and CFOs are focused on other areas.

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

JSP Credit Management

APRIL 19, 2022

JSP Credit Management's journey so far has taken some unexpected turns in its short lifespan. So we know that the percentage of debts that we collect on behalf of our clients is one way that outside stakeholders might measure our success as a service provider. We cannot say that it came as a surprise to be asked such a question.

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Debt Collections Credit and Collections Collector Bad Debt 52