Your Virtual Credit Manager

OCTOBER 18, 2022

Photo by Scott Graham on Unsplash We’re not saying you shouldn’t bother with credit evaluations — just that you shouldn’t waste time with a one size fits all process when most decisions are easily made. We discuss the key components of financial analysis in How Do You Determine if a Customer is Worthy of Credit?

Sales Tax Exemptions 130

Sales Tax Exemptions Credit and Collections Online Credit Application Credit Application 130

CreditStrong for Business

NOVEMBER 7, 2024

Credit cards and other revolving credit accounts function in a cyclical way. Car loans and other installment credit accounts involve borrowing a lump sum and repaying the balance over a predefined series of months. What is Revolving Credit? What is Revolving Credit? What is Installment Credit?

Automobile Dealerships 40

Automobile Dealerships Credit Scoring Credit and Collections Credit Card Payments 40

Gaviti

OCTOBER 23, 2023

One possibility is by running a business credit score and report on new customers. What is a Business Credit Score and Report? A business credit score is a rating whose goal is to demonstrate how financially responsible a business is as well as its potential for profitability.

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Credit Scoring Credit and Collections Credit Application Bankruptcy 97

Gaviti

FEBRUARY 4, 2025

With increased interest rates and inflation, businesses are facing increasing pressure to collect cash faster. In 2025, successful businesses will: Analyze payment trends to refine credit terms and collection strategies. Many traditional KPIs, like DSO, are not always a good indicator of collection success.

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Average Days Delinquent Credit and Collections AR Metrics Accounts Receivable (AR) 59

Prosper

JANUARY 13, 2023

However, it’s never too late to learn money strategies to help you manage credit, get out of debt and create a budget and saving plan that keeps you financially fit. In this first installment of our money management series, we will explore all things credit. How do you establish or rebuild good credit? Credit Basics.

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Credit Scoring Credit and Collections Bankruptcy Nonprofit Organizations 98

Due

JANUARY 3, 2023

You might get asked similar questions by lenders when you apply for loans and credit cards. To find out, they might check your credit report. What are credit reports, why are they important and what is in them? What is a Credit Report and Why is it Important? Credit Reports vs. Credit Scores.

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Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 119

The Red Spectrum

MAY 18, 2023

When it comes to managing your finances and building a healthy credit history, understanding how credit card payments affect your credit reports is essential. What Are Credit Bureaus? Before diving into the details, let’s first understand what credit bureaus are.

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Credit Card Payments Credit Scoring Credit Reporting Agencies Credit and Collections 91

Your Virtual Credit Manager

JULY 18, 2023

Photo by Campaign Creators on Unsplash Commerce between companies is facilitated by a trade credit relationship. When a supplier or vendor grants open credit terms to their business customers, both parties benefit. It’s important to keep in mind Pareto’s theorem when you are approving credit.

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Credit and Collections Credit Scoring Credit Management Credit Application 130

CreditStrong for Business

JULY 19, 2024

A new car loan will likely result in a small, temporary drop in your credit score stemming from lender credit inquiries, having a recently opened new credit account, and the resulting greater overall debt load. Among the various factors used to calculate your credit score, payment history has the largest influence.

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Credit Scoring Credit and Collections Credit Unions Credit Application 52

Credit Management Group UK

MARCH 4, 2024

Having credit risk processes in place from the outset is ideal, but credit risk management procedures can be implemented at any stage to reduce your exposure to risk of bad debt write off, improve cash flow and protect your profit Below are a few methods to use for managing credit risk.

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Credit Risk Bad Debt Credit and Collections Credit Application 97

CreditStrong for Business

NOVEMBER 7, 2024

Prospective homebuyers seeking a mortgage loan may use several strategies for improving low credit scores. Examples include reviewing credit bureau reports for possible credit account errors, avoiding late payments, paying down debt, and getting a credit builder loan.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Reporting Agencies Credit Card Companies 40

tillful

JANUARY 11, 2023

A business credit score is similar to your personal credit score in that it serves as a key indicator of your business’s financial health and reliability as a borrower to repay. Why is your business credit score a deciding factor for so many different financial transactions?

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Credit Scoring Credit Reporting Agencies Credit and Collections Small Businesses 52

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Credit evaluations, however, often take time. Offer ends 9/30/23. Subscribe now 2.

Credit and Collections 130

Credit and Collections Bad Debt Accounts Receivable (AR) Deductions 130

Emagia

JUNE 21, 2024

With the rapid advancement of digital technology, businesses can no longer afford the inefficiencies of slow credit applications, validations, and approvals. Empowering the credit team with intelligent Order-to-Cash (OTC) digital solutions is essential. Conducting reference checks online instead of through paper applications.

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B2B Credit Credit Application Digital Credit Application Credit Scoring 40

Your Virtual Credit Manager

JANUARY 9, 2024

Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. In fact, once you decide to sell a customer on open credit, most of the accounts receivable (AR) management tasks that follow have a reactive component. There is nothing wrong with that.

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

tillful

FEBRUARY 28, 2023

Have you heard about the FICO Small Business Scoring Service (SBSS)? Like most business credit scores, the SBSS helps lenders and service providers understand the level of credit risk that businesses present. Here’s a closer look at FICO SBSS scores, why they matter, and how you can improve yours.

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Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

Emagia

MARCH 3, 2025

The Accounts Receivable (AR) Process Cycle is a fundamental component of a company’s financial operations, encompassing the series of actions taken to manage and collect payments owed by customers for goods or services provided on credit. A structured dispute resolution process minimizes delays in payment collection.

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Days Sales Outstanding DSO AR Reporting Credit and Collections 40

Fundera

SEPTEMBER 1, 2016

No matter what kinds of credit you need personally or for your business, good credit starts with good handling of your personal credit accounts. Lenders check your credit score to decide whether or not you’ve typically repaid the debts you owe… And whether they should lend money to you, too.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Reporting Agencies Credit Application 40

Fundera

JULY 22, 2020

Banks Subject BIPOC to More Scrutiny Than They Do White Business Owners : One audit study found that in comparison to white applicants, BIPOC applying for bank loans were more often asked to show business financial statements, income tax returns, bank account information, personal financial asset details, and credit card debt.

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Credit Scoring Credit and Collections Small Businesses Credit Application 131

Fundera

MAY 25, 2017

New business owners especially often have to rely on their personal access to credit in order to finance the beginning stages of their business operations. Fortunately, some changes coming down the pipeline could positively affect millions of Americans’ credit scores. How the NCAP Standards Will Affect Your Credit Score.

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Credit Scoring Credit and Collections Collector Credit Application 74

CreditStrong for Business

SEPTEMBER 4, 2024

Fixing your credit might seem complicated, but it’s actually a simple process. Not to mention, working with a credit repair company can be expensive. Don’t drop hundreds of dollars on credit repair if you don’t have to. Recent credit score statistics show that 54% of people never check their credit.

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Credit Scoring Credit and Collections Credit Reporting Agencies Credit Application 52

Due

DECEMBER 2, 2023

Your credit history sums up all the information in your credit report. This information includes balances due, credit accounts, and payment history details. Your credit report also contains information on overdue debt, foreclosures, bankruptcies, judgments, and liens. Often, credit reports run up to many pages.

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Credit Scoring Credit and Collections Chapter 7 Bankruptcy 59

Fundera

APRIL 6, 2016

And since many kinds of small business credit are based on your personal financial credit, it’s important to become familiar with the various FICO score versions that could come into play when you’re applying for a business loan. What’s a FICO Score, Anyway? FICO Scores for Credit Bureaus.

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Third Party Collections Credit Scoring Credit and Collections Credit Application 68

Due

AUGUST 25, 2023

A lender will require documentation of your income and assets, as well as a credit check. A refinance can be an effective way to consolidate credit cards or personal loans if you have multiple high-interest debts. You may be able to qualify for a loan with more favorable conditions if your credit score or income improves.

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Credit Scoring Credit and Collections Credit Unions Credit Application 96

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

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Credit Risk Default Credit Management Credit and Collections 52

Emagia

MARCH 15, 2024

Managing credit risk for B2B customers is critical for seamless order to cash (OTC) and working capital cycles. Businesses that follow traditional reactive strategies in OTC processes may find it difficult to collect at-risk future invoices, likely leading to large invoices going delinquent.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

Fundera

JUNE 21, 2017

Are you a part of the 35% of Americans who have never checked their credit report? If you are, you might want to request your yearly free personal credit report. How do you file a credit report dispute? How to File a Credit Report Dispute in 5 Steps. Step #1: Checking Your Credit Report.

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Credit and Collections Credit Scoring Bankruptcy Credit Application 75

Emagia

FEBRUARY 2, 2024

OTC, the main cash flow driver, has many subsets within it, and credit management is more important than it looks on the surface. The top line and bottom line will be positively impacted when a sales order is received and fulfilled, but your business is at risk till you collect cash against the invoice.

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B2B Credit Credit and Collections Credit Application Credit Management 52

CreditStrong for Business

OCTOBER 11, 2024

The goal of the organization is to serve the business lending industry by providing accurate and reliable data to help lenders predict small business credit risk. Business credit reports that contain data from the SBFE might make or break your future business credit applications. No SBFE credit reports.

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Credit Reporting Agencies Credit Scoring Credit and Collections Small Businesses 52

The Red Spectrum

APRIL 11, 2023

One way for new businesses to build their credit history and obtain a business credit score from credit reporting agencies is by opening net 30 vendor accounts that have lenient approval criteria and offer credit purchases with a 30-day payment window. Burstbiz 2. The Red Spectrum 3. What is a Net 30 Account?

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Credit Reporting Agencies Credit Scoring Credit and Collections Credit Application 52

Emagia

JUNE 12, 2023

Credit risk management plays a critical role in the financial health and stability of businesses across industries. It involves identifying, assessing, and mitigating the potential risks associated with extending credit to customers or counterparties. What is Credit Risk Management? Credit Risk Management Steps?

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Credit Risk Credit and Collections Bad Debt Default 52

Gaviti

JULY 11, 2024

Benefits of Accounts Receivable Automation Software Whether your goal is to automate the collections process with accounts receivable automation software or scale it as your company grows,you’ll want to look for a solution that offers the most benefits for your business. Having a proactive collections strategy.

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DSO AR Automation Credit and Collections Bad Debt 52

Eagle Business Credit

MARCH 7, 2024

A working capital line of credit provides this kind of financial support, giving businesses the ability to cover short-term needs. At Eagle Business Credit, we understand the importance of working capital and its role in your business’s growth and stability.

Credit Scoring 40

Credit Scoring Credit and Collections Default Credit Application 40

Credit & Management Systems, Inc.

FEBRUARY 13, 2017

Job Description: Credit & Management Systems, Inc. CMS) is the leading developer of comprehensive system solutions for corporate and commercial credit management. CCM is and has been the accepted generic name for credit management software for over two decades. Job Title: Regional Sales Manager.

Credit and Collections 40

Credit and Collections Credit Scoring Credit Management Credit Application 40

tillful

MARCH 15, 2023

When you apply for a business loan , the lender is going to consider a variety of factors including your credit score, annual revenue, time in business, and industry risk. During the initial credit application, lenders will often ask you to select your industry from a dropdown menu of business categories.

Credit and Collections 52

Credit and Collections Credit Scoring Credit Reporting Agencies Credit Card Payments 52

Gaviti

MARCH 11, 2025

Without proper credit assessments and checks, businesses expose themselves to significant financial risks, including cash flow disruptions and potential bad debts. Implementing thorough credit evaluations before finalizing sales agreements is essential to verify a customer’s financial stability and commitment to payment terms.

Credit Risk 52

Credit Risk Credit Scoring Credit and Collections Credit Application 52

Gaviti

OCTOBER 27, 2024

2) Understand Your Collections Teams’ Needs Before you start looking for the perfect app to achieve fully automated accounts processes, it’s important to understand what your A/R collections team actually needs. The only way to identify these needs is to discuss the matter with your collections team.

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Payment Portals Credit and Collections Average Days Delinquent Cash Forecasting 95