Your Virtual Credit Manager

NOVEMBER 14, 2023

It affects the level of bad debt loss (uncollected Accounts Receivables) you suffer. Its impact on revenue: it can result in higher sales (and gross profit), or lower sales and gross profit depending on how much risk your Credit Policy tolerates and how well it is executed. Insurers want to be paid for the risk they bear.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

JANUARY 17, 2023

There was a lot of gnashing of teeth on the part of the sales team at the beginning, but invoice accuracy improved in each subsequent month as sales began transmitting accurate pricing and terms to order processing, thereby reducing downstream disputes and payment deductions. it just might help them pay you sooner!

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

Your Virtual Credit Manager

APRIL 11, 2023

Poor Credit Controls: Poor credit control practices can result in providing goods or services to high-risk accounts that are likely to pay beyond terms or even default on payments. Late or inconsistent follow-up on overdue accounts leads to longer payment cycles and increased bad debt write-offs.

Bad Debt 130

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

Your Virtual Credit Manager

SEPTEMBER 17, 2024

Photo by Willian Cittadin on Unsplash ) Neglecting collections can also lead to longer payment cycles, strained client relationships, and an increase in bad debt. This delay in cash inflows can create a vicious cycle, where a lack of working capital stalls the business’s ability to function efficiently.

Credit and Collections 100

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

TreviPay

SEPTEMBER 18, 2024

Exclusions: Common exclusions include pre-existing bad debts, disputes between buyer and seller and non-payment arising from unresolved contractual disagreements. Deductibles: Some policies include deductibles, meaning the business must absorb part of the loss before the insurer covers the remainder.

Bad Debt 52

Bad Debt Default Credit and Collections Collector 52