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.

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Automated Cash Application Credit and Collections Cash Applicator Deductions 98

Trade Credit & Liquidity Management

APRIL 25, 2025

Trade credit is a major source of capital for businesses buying from other firms in the United States. This has increased reliance, by both the seller and the buyer, on trade credit terms for the working capital needed to operate their businesses successfully. Changing Perceptions Savvy credit executives can change that perception.

Credit Management 52

Credit Management Credit and Collections Accounts Receivable (AR) Dashboards 52

Your Virtual Credit Manager

JANUARY 17, 2023

Inevitably they will need to initiate Collection activities to recover some of this money owed; in other words, contacting delinquent customers and requesting them to pay your firm for goods and/or services provided on credit terms that have become past due. it just might help them pay you sooner!

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

Your Virtual Credit Manager

FEBRUARY 18, 2025

The better you know a customers, the easier it is to make a correct credit decision. One of the biggest challenges for any credit function is making a valid decision when information is lacking. That’s why standard procedure calls for gathering additional credit information until a comfortable decision can be made.

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Credit Application Credit and Collections Bad Debt High-Risk Accounts 130

Credit Management Group UK

JANUARY 19, 2025

Wed all agree that writing effective collection letters is a balancing act between ensuring you receive payment in full and maintaining a positive working relationship with your customers. Include Adequate Details Provide your customers with bank details, or who to contact if you can take payment by credit/ debit card, in your letters.

Credit and Collections 90

Credit and Collections Credit Management 90

Your Virtual Credit Manager

JANUARY 7, 2025

Accelerating sales can increase DSO, but most often the cause is problems in the order-to-cash (O2C) pipeline affecting collections. Your Virtual Credit Manager is a reader-supported publication. Learn More About Credit Reports Please share this newsletter with your small business customers. Need help improving cash flow?

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

Your Virtual Credit Manager

NOVEMBER 25, 2024

Your Virtual Credit Manager is a reader-supported publication. For a masterclass on Credit Department Digital Transformation , join David Schmidt online December 3, 2024, at 1:30 PM EDT. Learn More About Credit Reports Please share this newsletter with your small business customers. Share Read more

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Credit and Collections Credit Management Default Small Businesses 130

Your Virtual Credit Manager

MARCH 4, 2025

We often talk about the importance of having an efficient and effective collection process and how, from a process improvement perspective, collections automation provides substantial benefits. We don’t, however, want to minimize the importance of the credit side of the equation. Do you need help improving cash flow?

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

Your Virtual Credit Manager

AUGUST 20, 2024

In the face of an economy being buffeted by opposing trends, what should those with credit and collection responsibilities do to protect their organizations’ accounts receivable (AR)? For credit pros, that means first getting a better handle on the risks to your AR portfolio and then adopting strategies to mitigate those risks.

Credit Management 130

Credit Management Credit and Collections Accounts Receivable (AR) Bankruptcy 130

Your Virtual Credit Manager

MARCH 14, 2023

Commercial collections is no different. Collection myths can be found at the very root of bad decisions as well as informing counter-productive activities. Adhering to collection myths more often than not leads to bad outcomes. Simply put, collection myths get in the way of doing the best job possible. Subscribe now 1.

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Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

APRIL 29, 2025

To add insult to injury, the situation is exacerbated by collection calls from the supplier, albeit innocently made in an attempt to get the order released from the credit hold queue. Wasted Collection efforts due to contacting customers to pay invoices they’ve already paid. Share Read more

Accounts Receivable (AR) 130

Accounts Receivable (AR) Credit and Collections Cash Applicator Credit Management 130

Your Virtual Credit Manager

JANUARY 14, 2025

Customer past due balances cause cash flow shortages, increase the need for borrowing, and create a significant work requirement in order to accelerate collections. When you do eventually get paid, you recover the cost you expended in fulfilling the customer order less the cost of collections and any interest on loans.

Bad Debt 130

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

Your Virtual Credit Manager

FEBRUARY 25, 2025

A customer that pays on time does not require any collection efforts. Those who sometimes pay on time only require a collection effort when they pay late; getting them to pay is usually not difficult. Since they are abusing your credit terms, why not require them to pay with a credit card when they place an order?

Bad Debt 130

Bad Debt Credit and Collections DSO Debt Collections 130

Onguard

DECEMBER 18, 2024

Trends in credit management #2: The credit manager shortage remains A combination of an ageing workforce and the perception of credit management as a reactive, administrative role has deterred new entrants and heightened the demand for hybrid skills combining financial expertise and technological proficiency.

Credit Management 52

Credit Management DSO Days Sales Outstanding Credit and Collections 52

Your Virtual Credit Manager

APRIL 8, 2025

Here’s a warning to trade creditor’s from a major commercial credit bureau (from CreditSafe’s Cost of Late Payments report). If you are extending credit to other businesses, it’s high time you began watching your customers closely for late payments and other signs of distress.

Bad Debt 130

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

Your Virtual Credit Manager

NOVEMBER 12, 2024

Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. Because most of your biggest customers will be larger firms instead of smaller, it is typically the larger firms that will require higher credit limits. Share Read more

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Chapter 11 Accounts Receivable (AR) Bankruptcy Credit and Collections 130

Your Virtual Credit Manager

JANUARY 28, 2025

When a business reaches the point of multiple team members making new sales and taking orders from existing customers, the credit approval process gets more complicated. This company’s evaluation of the risk/reward tradeoff was flawed because it underestimated the credit risk of “large” enterprises. Share Read more

Accounts Receivable (AR) 130

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

SAP Credit Management

FEBRUARY 2, 2023

Using collective settlement and collective rate determination, the total freight cost can be saved rather than spending for each shipment and this was agreed upon with the carrier to post freight settlement on a weekly basis and the total weight shipped that week. Choose option Collective from the dropdown.

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Your Virtual Credit Manager

SEPTEMBER 3, 2024

As businesses grow and add customers, there comes a point when collections become a burden. Photo by Towfiqu barbhuiya on Unsplash The first step toward a dedicated collection effort involves prioritization. This is a simple matter of efficiency aimed at collecting the most possible dollars with a minimum of effort.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

NOVEMBER 19, 2024

Chances are, there is a lot that needs to be done in terms of accounts receivable (AR) management between now and December 31st, especially if you are short of your Days Sales Outstanding (DSO) goals. For those twenty days when you can count on your customers being at work, you need to concentrate on making collection calls.

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DSO AR Metrics Credit and Collections Accounts Receivable (AR) 100

Your Virtual Credit Manager

JUNE 4, 2024

Successful collections require the coordination of a variety of activities: timely and accurate invoices and payment posting, monthly statements, email reminders and other dunning notices as well as telephone calls. A Cautionary Tale… As a corporate credit manager, I periodically was tasked with other finance department activities.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Eastern Credit Management Services

NOVEMBER 22, 2024

Professional debt collection services can help maintain financial stability without damaging client relationships. Reduce the Stress of Debt Recovery Debt collection is time-consuming and can strain internal resources. Professional collection agencies help expedite payment recovery, minimizing cash flow disruptions. Here’s how.

Debt Collections 52

Debt Collections Small Businesses Credit and Collections Credit Management 52

Your Virtual Credit Manager

APRIL 16, 2024

Despite advances in workflow automation and payment technology, collecting commercial receivables is not getting any easier. Employ Technology: Automated billing systems, debt collection software, auto-cash, and other tech tools effectively streamline your cash conversion process. check, ACH, credit card, etc.),

Accounts Receivable (AR) 130

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

Gaviti

NOVEMBER 24, 2024

The sooner your business collects on its invoices, the lower your financial risks and the better your financial position. One of the fastest ways to do this is via collections process automation to streamline the A/R process, eliminate manual tasks, and ensure timely follow-up with customers.

Credit and Collections 52

Credit and Collections DSO Average Days Delinquent Collection Effectiveness Index 52

SAP Credit Management

JANUARY 31, 2023

Prerequisites: ME data collection parameters setup completed as required To make the Web service call, create a ME/MII UME service user. Built BLS transaction to receive Machine values and record them in ME data collection. BLS Service transaction to receive and record ME data collection values. Create a Custom workflow.

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Transactions 181

Your Virtual Credit Manager

OCTOBER 22, 2024

When we first think about credit risk, our minds focus on the financial status of the company in question. To manage the risk that a customer might default, companies implement credit and collection policies and procedures. Your Virtual Credit Manager is a reader-supported publication. Share Read more

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

Your Virtual Credit Manager

MAY 23, 2023

Incidentally, the higher your gross margin, the more latitude you have in extending credit to marginally risky accounts. Any subsequent collection expenses and bad debt write-offs are more easily recouped through additional sales than if your gross margins are low. Do you need help with your credit policies and procedures?

Bad Debt 49

Bad Debt Credit and Collections Deductions Invoice Amount 49

Your Virtual Credit Manager

JANUARY 31, 2023

Some of the reasons for paying slow are more serious than others, but they all impact your cash flow and your collection efforts. There are several keys to effective past due collections and they start with your order-to-cash process. Do that and you eliminate a lot of potential collection issues.

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Credit and Collections Bankruptcy Past Due Invoices Order to Cash 246

Your Virtual Credit Manager

FEBRUARY 27, 2024

For a small business owner or executive, navigating credit decisions can be challenging, especially when they clash with the goals of other stakeholders within the company. It's essential, however, for everybody to recognize that credit decisions also have broader implications across various aspects of company operations.

Accounts Receivable (AR) 130

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

SAP Credit Management

JANUARY 6, 2023

Based on the collected information do some exercise in SAP HANA, express edition environment. Create a centralized, single source of the available (and most important) information regarding SAP HANA partitioning. Reason of the Article. There is huge knowledge available belongs to SAP HANA partitioning.

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Gaviti

JANUARY 7, 2025

Establishing a proper system for managing both open and overdue invoices that includes dunning workflows, reminder to pay invoice, and past due invoice emails proactively defends against extending credit to customers unable to pay. ACH, debit or credit cards, electronic wallets) and plans (e.g.

Past Due Invoices 105

Past Due Invoices Invoice Amount Payment Portals Credit and Collections 105

Eastern Credit Management Services

NOVEMBER 22, 2024

Debt collection involves a variety of legal considerations, especially in Atlantic Canada, where regulations may vary by province. Understand Provincial Regulations Each province in Atlantic Canada, including New Brunswick and Nova Scotia, has its own set of rules governing debt collection. Need help with debt collection services ?

Debt Collections 52

Debt Collections Credit and Collections Credit Management 52

Your Virtual Credit Manager

APRIL 2, 2024

Commercial credit scores predict the likelihood of a business fulfilling its financial obligations, particularly regarding debt repayment and trade credit. Commercial credit scores are often not as well understood as consumer credit scores such as FICO. Photo by Element5 Digital on Unsplash First, a little background.

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Credit Scoring Credit and Collections Bad Debt Credit Risk 130

TreviPay

APRIL 8, 2025

Sales teams manually entered orders, finance teams conducted credit checks over weeks, invoices were issued through fragmented systems and collections often required human intervention. AI-powered credit decisioning now enables near-instant credit approvals. Data Availability: Credit reporting standards vary widely.

Credit and Collections 95

Credit and Collections Order to Cash Transactions Credit Risk 95

Eastern Credit Management Services

NOVEMBER 22, 2024

Navigating the debt collection process can be complex, especially when dealing with specific legal considerations in Atlantic Canada. Initial Contact and Demand for Payment The debt collection process typically begins with an initial contact from the collection agency, which may include a written notice or phone call.

Debt Collections 52

Debt Collections Credit and Collections Credit Management 52

Trade Credit & Liquidity Management

APRIL 30, 2025

.” The quote rings true for wanderers, but for a manager—especially a Credit Manager—there’s a harsher reality: “You will fail if you know where you want to go but have no plan on how to get there.” What support is available from other stakeholders and management?

Cash Forecasting 52

Cash Forecasting Days Sales Outstanding DSO Credit and Collections 52

SAP Credit Management

AUGUST 7, 2023

To effectively manage the emission footprint, we must first measure it – this is where the importance of collecting and measuring emissions comes in. Collecting and measuring scope 3 emissions entails collecting intricate data from a web of suppliers. However, quantifying scope 3 emissions presents a challenge.

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