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. Bottom 40 percent: Customers contributing only about 5 percent of revenue.

Credit and Collections 130

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

Your Virtual Credit Manager

JUNE 27, 2023

Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts. You will, however, extend credit to marginal accounts, and from time to time marginal accounts and even lower-risk customers will become high risks. Collectors should as well.

Collector 26

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

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. Again, you need to also keep in mind the impact from putting other tasks on a back burner. 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

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

TreviPay

SEPTEMBER 18, 2024

Without trade credit insurance, businesses face a higher risk of financial loss due to non-payment from customers, which can lead to the use of debit collector services to recover outstanding debts. Customer service is another critical factor to consider.

Bad Debt 52

Bad Debt Default Credit and Collections Collector 52

Gaviti

FEBRUARY 18, 2024

They simply run into a number of typical accounts receivables challenges on the way. In many traditional collections teams, each individual collector develops their own process for managing invoices. These include: Lack of a unified process. These components include: A/R management.

Credit and Collections 52

Credit and Collections Deductions Collector Payment Portals 52

Gaviti

FEBRUARY 18, 2024

They simply run into a number of typical accounts receivables challenges on the way. In many traditional collections teams, each individual collector develops their own process for managing invoices. These include: Lack of a unified process. These components include: A/R management.

Credit and Collections 52

Credit and Collections Deductions Collector Payment Portals 52