Your Virtual Credit Manager

JANUARY 7, 2025

While multiple factors can contribute to an organization's financial downfall, insufficient cash flow is typically the primary trigger for bankruptcy proceedings. Ineffective AR management and poor performance inevitably result in cash flow challenges. Your Virtual Credit Manager is a reader-supported publication.

Days Sales Outstanding 130

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

Your Virtual Credit Manager

OCTOBER 15, 2024

Photo by Melinda Gimpel on Unsplash ) The American Bankruptcy Institute recently reported that, “The 6,067 total commercial chapter 11 bankruptcies filed during the first nine months of 2024 represented a 36 percent increase over the 4,561 filed during the same period in 2023.” Trustee Program.

Chapter 11 100

Chapter 11 Bad Debt Bankruptcy Accounts Receivable (AR) 100

Your Virtual Credit Manager

APRIL 16, 2024

Know the Law: Familiarize yourself with the legal complexities of commercial credit and debt collection. Make sure you and your team understand the basics of the Uniform Commercial Code, Bankruptcy Statutes, and other regulations to avoid compliance pitfalls and missed opportunities to secure payments.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

FEBRUARY 4, 2025

.” The Role of Credit in a Commercial Enterprise If you grant credit to your business customers, it is also imperative that credit, collections, and AR management issues be addressed. Credit management takes center stage when: New customers apply for credit terms.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Invoice Disputes Bad Debt 130

Your Virtual Credit Manager

AUGUST 11, 2024

Commercial bankruptcies have been surging since mid-2022. Department of Justice expects a sharp increase in bankruptcies with the U.S. Your Virtual Credit Manager has already covered this topic from several different perspective. As it turned out, half of this group had indeed filed for bankruptcy during this period.

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Sub-Chapter V Bankruptcy Credit and Collections Chapter 11 100

Your Virtual Credit Manager

MARCH 4, 2025

This company was fortunate to avoid significant bad debt loss until Ames Department Stores, Kmart, and Fleming Foods (a distributor) all filed bankruptcy within the same year. To continue reading and learn more about credit policy and the four key elements of credit control, you must be a paid subscriber.

Bad Debt 130

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

Your Virtual Credit Manager

MARCH 21, 2023

Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner aaccredit. Learn More About Credit Reports 5. This ties into all the Covid startups and the lack of bankruptcies while stimulus funds were available.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

OCTOBER 8, 2024

Older debts are often more difficult to recover because the debtor’s financial situation may worsen over time, or the business may close, become insolvent, or declare bankruptcy. In cases of bankruptcy or liquidation, the likelihood of repayment drops dramatically, as creditors may only receive partial payments or nothing at all.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

JANUARY 28, 2025

If you doubt that, look at the number of leading companies who filed bankruptcy in recent years. To continue reading and learn order management best practices, including six steps you can take to deal with customers that have become a greater risk, you must be a paid subscriber. Creditworthiness should never be taken for granted.

Accounts Receivable (AR) 130

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

MNS Credit Management Group

MAY 3, 2023

The world of business-to-business (B2B) debt collection is a complex and ever-changing landscape, and global payment delays and bankruptcies can have a significant impact on the industry. Bankruptcies can also have a significant impact on the B2B debt collection industry. is one of the most fundamental issues with debt collection.

Bankruptcy 52

Bankruptcy Debt Collections Collector Credit and Collections 52

Your Virtual Credit Manager

MARCH 19, 2024

To continue reading and learn about eleven events or circumstances that should trigger a collection response, in addition to when a customer goes past due, you need to be a paid subscriber to Your Virtual Credit Manager. The experts at Your Virtual Credit Manager can help you bring in the cash.

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Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

aptic

JANUARY 17, 2022

In fact, an Aptic survey* on the state of credit management has revealed that 29% of companies are dealing with more late or unpaid invoices during the pandemic. To limit the impact, many are intensively reworking their credit management procedures. In this blog post, we’ll take a closer look at the research.

Credit Management 52

Credit Management Credit and Collections Debt Collections Bankruptcy 52

Know-It Global

JUNE 22, 2023

ONE OF Scotland’s fastest growing fintechs, Know-It, has unveiled a new service in its cloud-based credit management platform designed to revolutionise the accounting industry. Credit management is essential for accountants, as it allows them to manage their clients’ financials more effectively.

Credit Management 52

Credit Management Credit and Collections Bankruptcy Credit Risk 52

Your Virtual Credit Manager

JUNE 4, 2024

A Cautionary Tale… As a corporate credit manager, I periodically was tasked with other finance department activities. The experts at Your Virtual Credit Manager are currently offering 33 percent off our standard small business consulting rates. it just might help them collect faster and pay you sooner.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

MAY 2, 2023

Growth is down, interest rates continue rising, small businesses are facing a credit crunch, commercial bankruptcies are skyrocketing and experts see an emerging threat: Washington Post: U.S. There are several ways to mitigate the risk of extending credit on open terms. The headlines paint a grim picture. economy grew at 1.1%

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Poor Credit Management' We’ve already talked about how poor credit decisions can impact sales and collections. In small companies, this may occur due to a lack of credit analysis skills. Here’s more on credit evaluations. Credit management, however, doesn’t stop with the initial customer analysis.

Credit and Collections 130

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

lsq

FEBRUARY 27, 2023

The company will use the additional working capital to support growth and manage sales and inventory seasonality. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. The company was referred to LSQ by a strategic banking partner. “We

Bankruptcy 98

Bankruptcy Credit and Collections Credit Management 98

lsq

MARCH 1, 2023

The company, which also has retail operations, will use the additional working capital to manage seasonality within their industry and build inventory for upcoming peak demand. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.

Bankruptcy 98

Bankruptcy Credit and Collections Credit Management 98

Your Virtual Credit Manager

APRIL 2, 2024

For instance, bankruptcy within the next two years is more easily defined than the more nebulous state of financial distress. Despite these shortcomings, commercial credit scores can be valuable tools for a company offering trade credit to other businesses.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

DECEMBER 27, 2022

A business with a strong credit history is more likely to be considered creditworthy than one with a weaker credit history. A business's credit history also includes any past bankruptcies or defaults, as well as collection agency placements. Credit grantors will often consider other factors as well.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 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. Your Virtual Credit Manager stands ready to help you improve your order-to-cash process by better managing credit risk, avoiding bad debt losses, and improving cash flow during these challenging times.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

DECEMBER 20, 2022

The good news is that in a bankruptcy, you will be ahead of all the general unsecured creditors. Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner Accredit. Email YVCM About Consulting Final Thoughts.

Deductions 130

Deductions Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

JUNE 13, 2023

Subscribe now The Increasing Risk of a Growing Number of Defaults Commercial bankruptcies began rising late last year after the historic lows of 2020 and 2021. Also, credit limit increases can be required when a customer’s business is expanding. If you haven’t, you almost certainly will…on all three accounts.

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Your Virtual Credit Manager

JULY 23, 2024

please take advantage of our July Sale to lock in a subscription to Your Virtual Credit Manager for just $34.99 Subscribe now Do you need help managing credit and collections? The experts at Your Virtual Credit Manager are currently offering 33% off our standard small business consulting rates.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Your Virtual Credit Manager

DECEMBER 26, 2023

For the past year, the number of commercial bankruptcies has been trending upward and is at a 4-year high. Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. If you haven’t, you almost certainly will.

Collector 130

Collector Credit and Collections Default Third Party Collections 130

Your Virtual Credit Manager

AUGUST 22, 2023

If it is a sole proprietor you are dealing with, check their consumer credit report to see if they are maxing out their credit cards. Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit.

Credit and Collections 130

Credit and Collections Bad Debt Credit Risk Small Businesses 130

Your Virtual Credit Manager

DECEMBER 6, 2022

Cash Flow is the number one cause of small business bankruptcies. Without effective AR management, your cash flow is subject to entropy as the AR ages, as well as to the shocks caused by customer defaults. Buy Credit Reports In regard to collections, a well defined process is imperative. Cash is king.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Know-It Global

JUNE 20, 2023

This guide provides a comprehensive overview of credit control practices and strategies that your business can implement to mitigate credit risk, reduce debtor days and boost cashflow! Setting Up Credit Control Processes 1.1 You can use historical data, sales forecasts, and credit payment patterns to project cash inflows.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Your Virtual Credit Manager

APRIL 30, 2024

In addition, extended terms increase your exposure to customer bankruptcies and the resulting non-payment. To continue reading and learn 6 things to consider when confronted with a request for extended payment terms, as well as how to combat Payment Timing Optimization, you need to be a paid subscriber to Your Virtual Credit Manager.

Credit and Collections 100

Credit and Collections Accounts Receivable (AR) Credit Risk Bankruptcy 100

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Commercial bankruptcies have been trending upward for most of this year, so it is likely some of your customers are in a downward spiral, if it has not yet shown up in their payment pattern. Need expert advice regarding your AR processes and the implementation of services & solutions for improving Credit & Collection performance?

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Emagia

NOVEMBER 20, 2024

His insights highlight how today’s credit professionals can leverage AI not only to streamline processes but also to drive strategic, data-driven decision-making. Beyond Traditional Analysis Shultz embraced automation early in his career, recognizing its potential to transform credit management.

Credit and Collections 52

Credit and Collections Credit Management Bankruptcy Order to Cash 52

Gaviti

OCTOBER 23, 2023

In addition, the company boasts a customer retention rate of 95%. Gaviti partners with CreditSafe as part of its Credit Application module, which facilitates the A/R credit management process for companies.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

lsq

MAY 30, 2024

As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. We can help companies of all sizes and stages solve for high growth, challenged credits, tripped covenants, high debtor concentrations and bankruptcies.

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52

lsq

JUNE 18, 2024

The company was referred to LSQ by a wealth management partner. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. “We are grateful for the trust placed in LSQ by the referrer and the company as a partner in their success.”

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52

lsq

MAY 30, 2024

As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. We can help companies of all sizes and stages solve for high growth, challenged credits, tripped covenants, high debtor concentrations and bankruptcies.

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52

lsq

JULY 30, 2024

(July 30, 2024) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $3 million accounts receivable credit facility for an IT staffing firm The company was referred to LSQ by a banking partner that was unable to support funding facility increases.

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52

lsq

JUNE 26, 2024

The company was referred to LSQ by a wealth management partner. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. “We are grateful for the trust placed in us by the referrer and the company as we support their success.”

Bankruptcy 52

Bankruptcy Credit and Collections Credit Management 52