Credit and Collections Related Topics 
Your Virtual Credit Manager
DECEMBER 31, 2024
In our case, we found a continued interest in collection technique and strategy, as well as in fighting credit fraud. Delaying collection efforts sends a message to customers that late payments are acceptable, establishing a bad precedent. To avoid this, collections should begin within 3-7 days of the due date.
Your Virtual Credit Manager
FEBRUARY 4, 2025
At many companies, credit policy is an afterthought. When sales and production goals are set, and then the budget formalized, scant consideration is given to the impact on credit policy. Photo by Piret Ilver on Unsplash ) Too often, credit and collections are an afterthought. Customers don’t pay on time.
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Your Virtual Credit Manager
APRIL 1, 2025
In too many organizations, credit and collection decisions are compromised by the fog of war. For example: to make an effective collection call, you need to know who to contact, the AR status and AR details of the account, if there are any disputes, and what prior efforts have been made to collect the balance due.
Your Virtual Credit Manager
MARCH 25, 2025
In order to manage the risk of extending trade credit, vendors need to collect information on their business customers. What they do with that information after making a credit decision is not a trivial matter. The cyber-security of credit files cannot be taken lightly.
Gaviti
NOVEMBER 21, 2024
This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly impact the bottom line.
Gaviti
JANUARY 6, 2025
Managing accounts receivable can be challenging, but having a structured approach to writing collection reminders can make a significant difference. Having a defined plan will help you to act systematically in order to collect your receivables in a timely manner. Other customers might want to be able to send electronic payments.
Your Virtual Credit Manager
OCTOBER 29, 2024
Finding the time and resources to complete every collection activity needed to be done at the optimal time to be done is a constant challenge. Most small companies come up short because the owner or CFO have more important things to do and there isn’t a dedicated employee responsible for credit and collections.
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