Your Virtual Credit Manager

FEBRUARY 27, 2024

It's essential, however, for everybody to recognize that credit decisions also have broader implications across various aspects of company operations. 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.

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

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.

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

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

Your Virtual Credit Manager

MARCH 14, 2023

A large percentage of past due invoices are caused by up-stream problems in the order-to-cash process. You also need to be requesting payment from any customer that has placed a new order and is past due beyond a small grace period. For more on collection efficiency, check out this article.

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Collector Past Due Invoices Credit and Collections Bad Debt 189

Your Virtual Credit Manager

FEBRUARY 28, 2023

It will contribute to you realizing accelerated cash inflows, which will be critically important during a recession. It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. Getting customers to pay now rather than later reduces the risk of a default down the road.

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Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

APRIL 18, 2023

Subscribe now An Overview of the AR Functions that Can Be Outsourced One option is to outsource all AR responsibilities in support of the order-to-cash (O2C) process: from billing to credit and collections to remittance processing. to minimize the chance of bad debt loss. Then you have a cost/benefit comparison.

Bad Debt 130

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

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AR Automation Collector Credit and Collections Bad Debt 130