Your Virtual Credit Manager

MARCH 4, 2025

We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.

Bad Debt 130

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

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. To make matters worse, invoice errors also tend to generate payment deductions (partial payments).

Credit and Collections 130

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

Your Virtual Credit Manager

MARCH 19, 2024

To do this you may want to order an updated credit report as well as recontact any suppliers they provided as a credit reference on their credit application. Have the customer complete an updated credit application and request updated financial information so you can assess their current financial status.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Gaviti

DECEMBER 6, 2023

This third party can be responsible for reports such as aging reports, scheduling payment reminders, tracking and collecting overdue invoices, and identifying high-risk customers to avoid extending more credit than they can realistically take on. These modules include: Credit Management and Monitoring. Cash Application.

Credit and Collections 52

Credit and Collections Invoice to Cash Deductions Cash Applicator 52

Due

DECEMBER 2, 2023

Your credit history sums up all the information in your credit report. This information includes balances due, credit accounts, and payment history details. Your credit report also contains information on overdue debt, foreclosures, bankruptcies, judgments, and liens. There are exceptions to this rule, however.

Credit Scoring 59

Credit Scoring Credit and Collections Chapter 7 Bankruptcy 59

Your Virtual Credit Manager

DECEMBER 17, 2024

Likewise, having Fortune 500 customers can be a boon, as long as they don’t stretch out their payments too far or whittle away your profits with aggressive payment deductions, especially when your margins are tight. One reliable predictor of bankruptcy is the Altman Z-Score.

Credit and Collections 130

Credit and Collections Bankruptcy Credit Risk Default 130

Trade Credit & Liquidity Management

APRIL 16, 2025

Improve Credit Onboarding Automation and Controls: Provide a customizable credit application portal for new accounts that requires the documentation and an appropriate customer credit application to be completed fully and accurately prior to submission to the credit department. Twenty Action Priorities 1.

Supply Chain Risk Assessment 52

Supply Chain Risk Assessment Credit and Collections Bulk Transfer Cash Forecasting 52