Your Virtual Credit Manager

JANUARY 30, 2024

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Previously, decisions were largely left to the discretion of individual collectors, resulting in subjective and inconsistent approaches. However, that doesn’t exclude an opportunity to do even better.

Credit and Collections 130

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

Your Virtual Credit Manager

JANUARY 17, 2023

Assign Collections to an Existing Employee : When doing this you need to consider if the person being assigned collection duties has the time and demeanor to be an effective collector. The bottom line was a 13 percent reduction in Days Sales Outstanding (DSO) over a 6 month period in conjunction with invoice accuracy rising above 90 percent.

Credit and Collections 246

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

Your Virtual Credit Manager

NOVEMBER 1, 2022

The eternal challenge for collectors is that that there are typically more customers to be contacted than time and resources allow. In fact, broken promises should be followed up the day after the payment was expected. For customers who habitually pay 5 days past due, don’t waste a contact until they are 10 or more days past due.

Credit and Collections 130

Credit and Collections Past Due Invoices Bad Debt Accounts Receivable (AR) 130