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. Share A Case in Point A parts distributor was having difficulty with collections and high dispute volumes. 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

JUNE 27, 2023

Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts. This persona may exhibit characteristics such as a history of defaults, financial instability, industry volatility, or a poor credit rating. Collectors should as well. Sales teams do it all the time.

Collector 26

Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26

TreviPay

SEPTEMBER 18, 2024

Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. This type of insurance acts as a safety net, covering unpaid invoices when clients default or face financial difficulties. Higher-risk customers or industries lead to higher premiums.

Bad Debt 52

Bad Debt Default Credit and Collections Collector 52

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. When cash flow is critical, you may even want to reach out to key customer or high risk accounts about a week before payment is due.

Credit and Collections 130

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