Your Virtual Credit Manager

AUGUST 29, 2023

Effective collections are crucial to maintaining a healthy cash flow and the financial stability of your company. If your business is struggling with cash flow or AR balances are growing, it could be a sign that your collections policy requires updating. There are a myriad of issues that can affect collections.

DSO 130

DSO Credit and Collections Bad Debt Collection Effectiveness Index 130

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

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. Photo by B C on Unsplash ) The biggest problem—there probably are not enough days left to get everything done.

DSO 100

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

Gaviti

JUNE 25, 2024

Why Is Forecasting Accounts Receivable Collections Important? Forecasting Accounts Receivable Collections Using DSO The easiest and most accurate way to forecast your accounts receivable is using days sales outstanding (DSO). View payment history and outstanding invoices in one centralized place.

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Days Sales Outstanding DSO Credit and Collections Deductions 52

Your Virtual Credit Manager

NOVEMBER 1, 2022

Photo by Kenny Eliason on Unsplash Effective collections is the single most important factor for achieving reliable cash inflows. Effective collections can also reduce bad debt losses by compensating for a liberal or weak Credit Control function. The solution to the collections challenge therefore starts with Prioritization.

Credit and Collections 130

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

Your Virtual Credit Manager

JUNE 11, 2024

My first exposure to the power of accounts receivable (AR) automation came in 1990 when I was credit manager at ERICO Fasteners, a mid-market, specialty metals manufacturer. During the 10 years I’d been in business credit, I had never seen anything like it. Our problems, however, were systemic.

AR Automation 130

AR Automation DSO Collector Accounts Receivable (AR) 130

Onguard

OCTOBER 31, 2023

Credit management, a term often associated with the finance department, turns out to be a dynamic process involving several departments within an organisation. Think sales, marketing, customer success and IT. Let’s face it, manual credit checks and invoice processing can be time-consuming and error-prone.

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Credit Management Days Sales Outstanding Credit and Collections DSO 52

Your Virtual Credit Manager

JUNE 25, 2024

Rising Days Sales Outstanding DSO measures the average number of days it takes to collect payment after a sale. Increasing Over 90 Day Past Due Receivables It’s important to actively monitor your over 90 past dues because beyond that point invoices are increasingly difficult to collect.

Bad Debt 130

Bad Debt Credit and Collections DSO Days Sales Outstanding 130

Your Virtual Credit Manager

SEPTEMBER 10, 2024

To optimize the order-to-cash (O2C) process, it's crucial to understand the significant role Credit and Collections plays. This function must collaborate closely with sales, fulfillment, shipping/logistics, and accounting, all of which are integral to converting an order into cash.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

FEBRUARY 20, 2024

Financial Health Priorities: Organizations may have specific financial health priorities such as improving liquidity, managing working capital, or reducing credit risk. The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times.

DSO 130

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

Gaviti

OCTOBER 30, 2023

Even with automated systems, humans and multiple humans are needed to manage the system. What are the Benefits of Autonomous Finance in A/R Collections? Automating manual tasks such as A/R invoice collections and account reconciliation eliminates these tasks that are prone to human error. Enhancement of the customer experience.

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Days Sales Outstanding Invoice Collections Credit and Collections DSO 75

Gaviti

AUGUST 29, 2024

What Is Short-Term Accounts Receivable Collections Forecasting? Short-term accounts receivable collections forecasting” refers to the process of projecting payments the company will receive within a short period of time. The sales forecast refers to the expected revenue from sales.

DSO 52

DSO Days Sales Outstanding Credit and Collections Deductions 52

Lockstep

JUNE 15, 2022

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . Getting Started .

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AR Automation Bad Debt DSO Accounts Receivable (AR) 91

Your Virtual Credit Manager

MAY 14, 2024

If conditions are satisfactory and all your credit and collection assignments have been completed, you can then address the many other tasks and challenges requiring your attention. Do you need help collecting past due receivables or understanding your customer portfolio risks? Why Are Metrics Needed if You Have an AR Ledger?

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AR Metrics DSO Credit and Collections Accounts Receivable (AR) 130

Emagia

NOVEMBER 7, 2024

which stands for Days Sales Outstanding, is a financial metric used to measure the average number of days it takes for a company to receive payment after a sale. meaning is essential for evaluating a company’s liquidity and credit management. indicates efficient collections, while a high D.S.O.

Days Sales Outstanding 40

Days Sales Outstanding Credit and Collections Credit Sales Credit Management 40

Emagia

NOVEMBER 7, 2024

DSO Mean DSO, or Days Sales Outstanding, is a key financial metric that measures the average number of days it takes for a company to collect payment after a sale. Understanding DSO mean is essential for managing cash flow effectively. Businesses need to analyze these factors to optimize their DSO.

DSO 40

DSO Days Sales Outstanding Credit and Collections Dashboards 40

Your Virtual Credit Manager

DECEMBER 19, 2023

As part of that budget, you have likely made some accommodation for your accounts receivable (AR), probably in the form of a Days Sales Outstanding (DSO) objective based on past performance. Hopefully, that is why you are reading Your Virtual Credit Manager.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Emagia

NOVEMBER 21, 2023

Most recently that meant talking with a group of leaders in the B2B credit industry as part of NACM South Central’s annual “Day at the Races” event in Louisville, KY. How can AI help decrease DSO (Days Sales Outstanding)? AI can help decrease DSO by improving collections and credit management processes.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections B2B Credit 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.

Payment Portals 95

Payment Portals Credit and Collections Average Days Delinquent Cash Forecasting 95

Your Virtual Credit Manager

FEBRUARY 21, 2023

Subscribe now Days Sales Outstanding (DSO) From a credit perspective, DSO isn’t our favorite metric, but it is a standard used by accounting and finance professionals to reflect receivables turnover. The higher the percentage, the more effective your collection efforts. it just might help them pay you sooner!

DSO 130

DSO Credit and Collections Collection Effectiveness Index Bad Debt 130

Gaviti

APRIL 3, 2024

When accounting departments want a quick evaluation of the health of a business, they often look at their DSO, or days sales outstanding. However, days sales outstanding are subject to a range of factors and targets should always be based on the wider context of the business and industry.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Your Virtual Credit Manager

DECEMBER 6, 2022

If your sales are consummated via payment at the point of sale, which may involve “pay with order” or “pay on delivery” protocols involving a credit card or an online e-payment product, managing Accounts Receivable (AR) will not be big issue for you. it just might help them pay you sooner!

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

JULY 25, 2023

Turning your inventory over faster and your payables slower will add cash to your balance sheet, as will raising capital by selling shares in your company or getting a loan or line of credit. Here are the KPIs you will need at a minimum: Days Sales Outstanding (DSO) - This metric tells you how fast you are converting your sales into cash.

Best Possible DSO (BPDSO) 130

Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

Credit Management Group UK

JANUARY 8, 2023

Preparation before Christmas is ideal in ensuring that your cash flow remains positive throughout the festive period and into the New Year; when you return to work January, jump right back into your collection strategy. Collection strategy – organise your debtors to suit business. Use a mixture of collection techniques.

Days Sales Outstanding 77

Days Sales Outstanding Credit and Collections Credit Management 77

Your Virtual Credit Manager

APRIL 11, 2023

Subscribe now Ten Reasons Accounts Receivables Under Perform Failure to Conduct Credit Checks: Sometimes newer business are so excited to get an order, they fail to check the new customer’s credit, only to end up selling to a deadbeat and not getting paid. Here’s more on Credit Checks. An under performing AR.

Bad Debt 130

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

Gaviti

APRIL 11, 2024

Are you offering enough or too much credit to customers? Are you able to collect invoices on all of the revenue your business generates? What are the average days sales outstanding? Are we offering the right amount of credit to customers based on their creditworthiness? Are there invoice processing delays?

Bad Debt 98

Bad Debt Credit and Collections Collection Effectiveness Index DSO 98

Gaviti

SEPTEMBER 7, 2023

Days sale outstanding is one of the most widely used criteria for judging the effectiveness of your accounts receivable strategy. Most business managers use the standard DSO when running the calculations, but it is also possible to calculate the best DSO. It also paints a picture of the health of your company.

DSO 52

DSO Days Sales Outstanding Past Due Invoices Credit and Collections 52

Gaviti

NOVEMBER 29, 2022

It also gives companies the ability to move away from manual tracking in spreadsheets, to a real-time dashboard, which saves time and gives a full and reliable visualization of the current state of collections. So, how can using a collection dashboard help, and why is it so indispensable as a growth tool? Days Sales Outstanding.

Dashboards 52

Dashboards Average Days Delinquent Credit and Collections Cash Forecasting 52

TreviPay

JANUARY 31, 2023

In-house trade credit management – a costly distraction and unnecessary risk Managing your in-house trade credit program may once have seemed like a good idea – but much has changed: costs and complexity have spiraled. At the same time, the risk of underwriting trade credit is also eliminated.

DSO 52

DSO Days Sales Outstanding Credit Scoring Credit and Collections 52

Your Virtual Credit Manager

JULY 11, 2023

This article focuses on one widely used metric, Days Sales Outstanding (DSO) and the best ways to understand it. Subscribe now Understanding DSO DSO, (along with an Aging Analysis of the unpaid AR), is the most popular metric used to gauge AR management performance. Learn More About Consulting The Takeaway.

Best Possible DSO (BPDSO) 100

Best Possible DSO (BPDSO) DSO AR Metrics Credit and Collections 100

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.

DSO 52

DSO AR Automation Credit and Collections Bad Debt 52

Know-It Global

APRIL 13, 2023

This is why it’s crucial that businesses get a firm grip of their cashflow, and one of the most effective ways to maximise your cashflow is by reducing your debtor days. What are debtor days? Debtor days, or as some call days sales outstanding (DSO), is a measure of how long it takes for a company to collect payment from its customers.

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Collenda

JULY 19, 2023

Aryza Launches Aryza Dunning to optimise receivables management in the UK and Ireland Aryza, a leading provider of financial software solutions, is proud to announce the launch of Aryza Dunning in the UK and Ireland. Its state-of-the-art security architecture meets the highest standards.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Credit Management 52

Emagia

FEBRUARY 5, 2023

Automation of accounts receivable is the process of automating various manual tasks involved AR process like invoicing, collecting, and tracking receivable to ensure timely collection. Credit Management The starting point in the AR process is credit check, though that is part of broader OTC process.

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AR Automation Days Sales Outstanding DSO Credit and Collections 52

apruve

OCTOBER 5, 2022

Technology is revolutionizing business payments and trade credit management. If you’re a large business looking for better ways to manage trade credit , you might be wondering: How does trade credit work today? Fintech innovation makes it possible to automate all aspects of the trade credit process.

Credit and Collections 52

Credit and Collections Days Sales Outstanding DSO Default 52

Serrala

MARCH 14, 2024

Serrala’s Alevate Bill Pay helps streamline your processes by simplifying the process of collecting payments from channels other than Direct Debit. Read more Stay secure and compliant Reduce your collections costs by 30-50% and lower total days sales outstanding by 1-2 days.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Default 52

Gaviti

MARCH 3, 2024

For example, RPA in accounts receivable can automate invoice distribution, payments, collections, payment matching and reconciliation. RPA use cases in finance include invoice processing, bank reconciliation, accounts payable and receivable, payroll processing and credit and risk management. A/R management and automation.

DSO 52

DSO Credit and Collections Days Sales Outstanding Cash Applicator 52