Know-It Global

APRIL 26, 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 98

Credit Risk Bad Debt Credit and Collections Default 98

Gaviti

NOVEMBER 21, 2024

Credit management and monitoring. Get real-time credit risk alerts about customers with increased credit risk to minimize the impact on your cash flow and reduce the likelihood of bad debt.

Automated Cash Application 98

Automated Cash Application Credit and Collections Cash Applicator Deductions 98

Your Virtual Credit Manager

JUNE 20, 2023

” As a reader of Your Virtual Credit Manager you are eligible for 50% off the registration fee: Register Online Or call 866-352-9539 — Discount code: A5307986 — Priority code: 15999 What Can Be Done? As economic headwinds build, business leaders tend to batten down the hatches by cutting cost and minimizing risk.

Credit Risk 20

Credit Risk Bad Debt Credit and Collections AR Aging 20

Credit Management Group UK

MARCH 4, 2024

Some may find the thought of managing financial risk daunting, but it should be straight forward. The decision making process for granting a potential customer credit should be made up of a jigsaw of several different types of information, rather than relying on one method only.

Credit Risk 97

Credit Risk Bad Debt Credit and Collections Credit Application 97

Credit Management Group UK

JANUARY 7, 2024

Have you ever had to write of a bad debt? Have you ever put off taking action on a debt, due to uncertainty? We also include credit risk reporting of your current and prospective customers, as well as monitoring said customers for changes in their credit risk.

Credit Management 91

Credit Management Bad Debt Credit Risk Credit and Collections 91

Your Virtual Credit Manager

OCTOBER 17, 2023

(Photo by Jandira Sonnendeck on Unsplash ) In most cases, you therefore have to extend credit to your B2B customers, which entails the following risks: Not being paid anything Being paid an amount less than the full invoice value Not being paid on time, whether in full or in part These outcomes are known as credit risks.

Bad Debt 130

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

Your Virtual Credit Manager

MARCH 14, 2023

When a customer is in financial distress, being a good negotiator is an asset, but more important is the ability to come up with a payment plan that will clear up the debt, or at least begin reducing your firm’s exposure in the short term. Learn More About Credit Reports 5. You will find sending them well worth the effort.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

NOVEMBER 14, 2023

(Photo by Aziz Acharki on Unsplash ) Because Credit Policy is a part of Sales Policy, how you manage credit impacts company profits. How then does your Credit Policy affect your overall profitability? It affects the level of bad debt loss (uncollected Accounts Receivables) you suffer.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

FEBRUARY 27, 2024

In order for that to happen, everybody needs to be aligned in regard to sales and credit in general and the objectives of the order-to-cash process (O2C) in particular. The experts at Your Virtual Credit Manager can help you bring in the cash. Are there past due accounts you are trying to collect?

Accounts Receivable (AR) 130

Accounts Receivable (AR) Bad Debt Days Sales Outstanding Credit and Collections 130

Emagia

DECEMBER 3, 2024

Autonomous Finance Capabilities: Enables intelligent self-driving end-to-end processes for accounts receivable operations including credit management, billing, invoicing, collections, deductions, cash application, cash flow forecasting and treasury management. Key Features and Benefits for CFOs 1.

DSO 52

DSO Credit and Collections Bad Debt Payment Portals 52

Your Virtual Credit Manager

OCTOBER 31, 2023

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. Simply put, if customers have weak financials or a history of late payments or defaults, there is an elevated risk of bad debt. What do you need help doing?

Bad Debt 130

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

Your Virtual Credit Manager

SEPTEMBER 3, 2024

In response, two actions were taken: The firm implemented and enforced a new Collection Prioritization Methodology that focused the majority of effort on the 11% of customers who controlled 71% of the past due/high risk AR The company also improved the quality and promptness of its collection contacts The results were impressive.

Accounts Receivable (AR) 130

Accounts Receivable (AR) Days Sales Outstanding DSO Credit and Collections 130

Your Virtual Credit Manager

APRIL 2, 2024

Companies tend to offer more favorable terms to customers with higher credit scores, such as higher credit limits or longer payment terms while imposing stricter terms on higher-risk customers with lower scores. Monitoring Credit Risk : Companies may use credit scores to monitor the credit risk of their existing customers.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 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. Another benefit is that your overall AR portfolio credit risk is reduced. The cash flow and bad debt benefits will usually outweigh the potential lost revenue.

Bad Debt 130

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

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

FEBRUARY 13, 2024

This prediction, although bold, is corroborated by the broader economic data, including escalating corporate bankruptcies, tightening loan standards by banks, and the surge in delinquent debt balances and consumer debt. It will also help your prioritize your credit reviews as recommended in item #1. What do you need help with?

Bankruptcy 130

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

Your Virtual Credit Manager

AUGUST 6, 2024

In reality, granting credit is much more complicated. The goal is not preventing bad debt losses but rather maximizing profits. If you should try to eliminate all bad debt losses, chances are you will forego sales to customers that will eventually pay. Share How Much Credit is Prudent for Each Customer?

Bad Debt 100

Bad Debt Credit and Collections Accounts Receivable (AR) Credit Risk 100

Your Virtual Credit Manager

APRIL 18, 2023

Credit Risk Evaluations : If you purchase Credit Risk Insurance, the insurer will serve as your Credit Department. They will perform credit evaluations on all your customers, and they will exclude customers deemed too risky from their coverage. to minimize the chance of bad debt loss.

Bad Debt 130

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

Your Virtual Credit Manager

DECEMBER 20, 2022

Share Controlling Credit Risk Increasing sales to high margin customers disproportionately increases total gross profit. Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner Accredit. Here’s how?

Deductions 130

Deductions Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

OCTOBER 15, 2024

As a consequence, commercial accounts receivable (AR) portfolios are at an increasing risk of suffering bad debt losses. The immediate precursor to bad debts is increasing percentages of delinquent receivables, especially in the over 60 and 90 day aging categories. This initial uptick is only expected to get worse.

Chapter 11 100

Chapter 11 Bad Debt Bankruptcy Chapter 7 100

Your Virtual Credit Manager

JANUARY 10, 2023

Photo by Patrick Hendry on Unsplash Although defaults resulting in significant bad debt losses are a rare event for trade creditors, much of the focus of AR Management is on credit risk. Banks make money by lending so they pay close attention to the credit risk of the borrower. Buy Credit Reports 4.

Credit and Collections 130

Credit and Collections Bad Debt Invoice Disputes Default 130

Your Virtual Credit Manager

JUNE 18, 2024

Photo by Muhammad Daudy on Unsplash ) The problem with startup companies: there is a high probability they will fail , leaving you with a bad debt on your books. That’s why it is standard to ask on a credit applications the year in which the business was formed. Do you need help managing credit and collections?

Bad Debt 100

Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

Your Virtual Credit Manager

AUGUST 22, 2023

The bad news is that nearly 21 percent of last year’s startups will fail this year leaving you with a bad debt on your books if you sold to them on credit terms. Here’s more on setting credit limits. If the customer pays well, you can always consider raising their credit limit.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Small Businesses 130

Your Virtual Credit Manager

JANUARY 3, 2023

Do not match unapplied credits with open deductions and debits unless there is documentation to relate them or you will be in violation of escheatment laws. Refresh the credit risk ratings and credit limits of customers that have not been updated within the past two years. Update your customer master file.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

OCTOBER 10, 2023

Faced with a customer with less than stellar credit, the job of the person charged with approving credit is to find terms that allow the sale to go through while also ensuring payment will be secured. There are numerous risk management techniques that can be used to mitigate credit risk, but that’s fodder for another post.

Bad Debt 130

Bad Debt Credit Risk Credit Management 130

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. These bad debt losses can put your own business at risk of failure. Far more damaging is a customer that defaults (never pays).

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Your Virtual Credit Manager

FEBRUARY 20, 2024

Financial Health Priorities: Organizations may have specific financial health priorities such as improving liquidity, managing working capital, or reducing credit risk. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

DSO 130

DSO Days Sales Outstanding Credit and Collections Accounts Receivable (AR) 130

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

Know-It Global

JUNE 20, 2023

It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. Setting Up Credit Control Processes 1.1 Define Credit Policy: A well-defined credit policy is the foundation of effective credit management for any business.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

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

FEBRUARY 6, 2024

Creating an Imbalance Between Risks and Rewards While it's prudent to be conservative in financial matters, avoid letting it drift into excessive risk aversion. Effective credit management involves managing risk, not avoiding it entirely. More About Purchasing Credit Reports 5.

Credit and Collections 130

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

Lockstep

JUNE 15, 2022

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . Getting Started . External and Supporting Data .

AR Automation 91

AR Automation Bad Debt DSO Accounts Receivable (AR) 91

Credit Management Group UK

JULY 19, 2023

Small businesses need to ensure they have the most effective credit management systems and skills to tackle late payment seriously, to avoid becoming one of those statistics. Credit management should be ‘customer focused’. Manage disputed invoices by setting a time limit to resolve issues.

Credit Management 50

Credit Management Bad Debt Credit and Collections Credit Application 50

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.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

OCTOBER 2, 2024

Who absorbs any potential bad debt loss — does the lender have recourse to return the AR if they cannot collect it versus a non-recourse arrangement? Who performs the Credit & Collection activities — you or the finance company? Your Virtual Credit Manager is a reader-supported publication.

Past Due Invoices 130

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

Emagia

JUNE 12, 2023

Credit risk management plays a critical role in the financial health and stability of businesses across industries. It involves identifying, assessing, and mitigating the potential risks associated with extending credit to customers or counterparties. What is Credit Risk Management?

Credit Risk 52

Credit Risk Credit and Collections Bad Debt Default 52