Your Virtual Credit Manager

APRIL 4, 2023

” This junk AR comes in a variety of forms, such as: Short Payments / Deductions Debit Memos Unapplied Credit Memos Unapplied Cash Late Payment Fees and other Surcharges Unearned Early Payment Discounts Clutter obscures the actual amount a customer owes and when presented as a statement of account can confuse their accounts payable (AP) team.

Past Due Invoices 100

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR) 100

The Esker Blog

JANUARY 10, 2023

We’ve found that by working to achieve these seven AR goals, your organization can better adapt collections strategies, collect cash faster, empower AR teams and achieve growth, no matter the business situation. Historically, the processes within collections, cash application and credit management are highly manual.

AR Aging 95

AR Aging Accounts Receivable (AR) Credit and Collections AR Automation 95

Emagia

FEBRUARY 5, 2023

Cash Application This process in AR management, if done manually, can consume a lot of time of AR team and make collection follow up difficult, and create a not-so-happy experience for both the team and customers. The process can get more cumbersome if deductions are involved.

AR Automation 52

AR Automation Days Sales Outstanding DSO Credit and Collections 52

Gaviti

DECEMBER 6, 2023

With an advanced automated A/R invoice-to-cash management solution that includes cash application, credit management, collections analytics and dispute and deduction management, your A/R process not only remains in-house and under your control, but integrates so that all the different components work together to deliver real-time data.

Credit and Collections 52

Credit and Collections Invoice to Cash Deductions Cash Applicator 52

Gaviti

APRIL 18, 2024

It also helps provide documentation in the event that your company has bad debt that it is able to take as a tax deduction. Cash application. Ensure precise cash allocation and real-time reconciliation with your primary bank and manage cash from multiple sources with multi-bank connectivity.

AR Aging 52

AR Aging Credit and Collections Bad Debt Allowance for Doubtful Accounts 52

Gaviti

JUNE 25, 2024

Cash Application. Associate each payment with its corresponding invoice for precise application and reconciliation of payments with remittance information such as invoice numbers or payment references. Disputes and Deductions.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Deductions 52

Gaviti

APRIL 3, 2024

Document a process for how the company will deal with outstanding invoices. Documented internal escalation procedures should also include which levels of management and heads of departments (e.g. Disputes and deductions. Cash application. Have an effective process in place to deal with late receivables.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Gaviti

DECEMBER 28, 2023

Its streamlined approach to collections, including automated dunning processes, payment reminders and escalations and the routing of disputes and deduction to the appropriate stakeholders, offers a proactive approach to A/R collections with better communications to improve the customer experience.

Credit and Collections 52

Credit and Collections Invoice to Cash Deductions Collector 52

apruve

JULY 25, 2022

The HighRadius Accounts Receivable Solution digitalizes and integrates credit, billing and invoicing, cash application, deductions, and collections in order to reduce invoice-to-cash process times, improve the customer experience, and give A/R teams more time to focus on mission-forward tasks. What Sets Cforia Apart.

DSO 52

DSO Credit and Collections Order to Cash Days Sales Outstanding 52

Gaviti

FEBRUARY 18, 2024

Cash Application. Manage cash from multiple banks, accurately matching payments with invoices to ensure improved visibility into your cash position. Accurate accounts free up your A/R resources from having to resolve disputes or verify deductions. Dispute Management and Deductions.

Debt Collections 52

Debt Collections Credit and Collections Days Sales Outstanding Invoice to Cash 52

Emagia

MAY 1, 2024

A second use is for traditional credit functions: cash application and cash forecasting become easier with AI. AI can take the burden of that for delivery, invoice, and document requests. AI can improve order fulfillment and invoice accuracy with fewer deductions and allow them to come through more quickly.

Order to Cash 52

Order to Cash Cash Forecasting Credit and Collections Shared Service Center 52

Emagia

JANUARY 22, 2023

Concluding Note Companies with a solid understanding of the benefits of automated applications rather than inserting automation within an ERP have the edge over their competitors. By adopting emerging technologies like AI, ML, and Automation, such time-consuming and mundane tasks can be automated.

Days Sales Outstanding 52

Days Sales Outstanding AR Automation Order to Cash DSO 52

Gaviti

MARCH 10, 2024

Cash Application. Single and multi-connectivity ensures precise cash allocation and the ability to manage your cash from multiple sources. Disputes and Deductions. Maintain comprehensive document management for a complete history of payments and records for future analysis or audits.

Accounting Firms 52

Accounting Firms Credit and Collections Cybersecurity Invoice to Cash 52

Your Virtual Credit Manager

SEPTEMBER 13, 2022

Photo by Jp Valery on Unsplash Payment deductions, also known as chargebacks or short pays, happen when the customer pays less than the full invoice amount. Should you confirm that the customer is indeed correct, the deduction is removed from the Accounts Receivable (AR) ledger via a credit memo. Well, it’s not.

Deductions 130

Deductions Credit and Collections DSO Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 21, 2025

When there is a breakdown at any point along the O2C continuum, cash flow is impacted, and processing costs are increased. at order entry, order approval, shipping, billing, or cash applications—there are serious negative impacts on the cash conversion cycle regarding the collection workload and payment timeframes.

Order to Cash 130

Order to Cash Credit and Collections Bad Debt Accounts Receivable (AR) 130

Your Virtual Credit Manager

DECEMBER 24, 2024

Even if there is a single person credit department, or a small team with several people on the credit staff, everybody has to be somewhat of a generalist, splitting time between credit analysis, collections, deductions resolution, cash applications and other AR activities. A lower investment in AR and improved cash flow.

Credit and Collections 130

Credit and Collections Collector Bad Debt Accounts Receivable (AR) 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