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.

Collector 189

Collector Past Due Invoices Credit and Collections Bad Debt 189

Credit Management Group UK

JULY 23, 2024

Having an effective credit management function is vital to any business in maintaining and improving cash flow, as well as reducing a business’ risk to bad debt. Sales and credit control in particular should work closely together as these are the two-main customer facing roles.

Credit Management 52

Credit Management Invoice Disputes Credit and Collections Bad Debt 52

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) Days Sales Outstanding Bad Debt Credit and Collections 130

Credit Management Group UK

DECEMBER 27, 2023

Here are our frequently asked credit management questions for December. Confidential invoice finance providers will want to see that your credit management processes and procedures are clear and appropriate for the business, as this will pose less risk for them in offering you finance.

Credit Management 52

Credit Management Credit and Collections Order to Cash 52

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

TreviPay

APRIL 28, 2023

What’s important about the order-to-cash cycle? An agile and efficient order-to-cash (O2C) cycle can have a huge impact on the success of your company, whether you are an SMB or a global organization. At the order management stage, it is important to consider offering alternative financing options, such as trade credit.

Order to Cash 59

Order to Cash Credit and Collections Debt Collections Credit Management 59

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

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

Credit Management Group UK

FEBRUARY 25, 2024

I ask these businesses each time, if your current collection procedure isn’t working, why are you still using it? You are at risk of late payment and even bad debt if you take on a customer with a poor credit rating, a risk that can be reduced if you credit check them prior to carrying out any work.

Bad Debt 93

Bad Debt Credit and Collections Order to Cash Credit Management 93

Emagia

JANUARY 30, 2023

Order-to-Cash (OTC or O2C) is arguably one of the business processes most CFOs have a keen eye on, as it affects the three strategic goals of an enterprise, viz., topline, bottom line, and cash flow. Customer Experience: Customer experience is enhanced through smooth and efficient management of orders, receivables, credit, etc.,

Order to Cash 52

Order to Cash Bad Debt Third Party Collections Credit and Collections 52

Your Virtual Credit Manager

MARCH 12, 2024

As a result, trade credit, where businesses extend financing to customers, is undergoing rapid advancements, but it also poses high risks, especially in assessing creditworthiness, dealing with economic fluctuations, and fraud. Are there past due accounts you are trying to collect? it just might help them pay you sooner!

AR Transformation 100

AR Transformation Credit and Collections Accounts Receivable (AR) Order to Cash 100

TreviPay

FEBRUARY 2, 2023

This is why it is essential to understand and optimize the order-to-cash (O2C) process. What is order-to-cash (O2C)? Order-to-cash (often referred to as O2C or OTC ) is a business term used to describe the process(/s) around fulfilling customer orders. The O2C process is no exception.

Order to Cash 52

Order to Cash Credit and Collections Credit Management Small Businesses 52

Onguard

APRIL 28, 2023

Using credit management software makes it possible to bring together all customer information and generate a comprehensive customer profile. This creates a 360° view of customers, reducing risks of unpaid invoices and improving predictability of cash flow. This is also a welcome addition within credit management.

Credit Management 52

Credit Management DSO Credit and Collections Order to Cash 52

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

Onguard

DECEMBER 1, 2022

Using credit management software makes it possible to bring together all customer information and generate a comprehensive customer profile. This creates a 360° view of customers, reducing risks of unpaid invoices and improving predictability of cash flow. This is also a welcome addition within credit management.

Credit Management 52

Credit Management DSO Credit and Collections Order to Cash 52

Your Virtual Credit Manager

JUNE 25, 2024

In order to maintain optimal cash flow, your accounts receivable (AR) portfolio needs to remain in good shape. That can be a constant battle because all the mis-steps made during the order-to-cash (O2C) process will accumulate in your AR, and given time, clog it up.

Bad Debt 130

Bad Debt Credit and Collections DSO Days Sales Outstanding 130

Your Virtual Credit Manager

MAY 28, 2024

Imagine that the order-to-cash (O2C) process is a parade. Leading the charge is the sales and customer service teams that bring in the orders. Next comes billing, followed by collections cleaning up all the garbage left by everybody that has gone before. it just might help them collect faster and pay you sooner.

Accounts Receivable (AR) 130

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

Your Virtual Credit Manager

FEBRUARY 13, 2024

Clearly, the level of Business Credit Risk is going to remain elevated as we move through 2024, bringing with it the potential for corresponding increases in bad debt and delinquency. To support your decisions get updated credit reports, more recent financial statements (if available) and update the customers supplier payment references.

Bankruptcy 130

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

Credit Management Group UK

MARCH 21, 2023

Effective credit control is a vital aspect of any business and one that is often neglected in relation to staff training. Our How to Improve Your Order to Cash Process course delves more into the process side of credit control. The post How will your business benefit from our credit control courses?

Credit and Collections 102

Credit and Collections Order to Cash Credit Management 102

Your Virtual Credit Manager

JANUARY 3, 2023

Over time, AR Ledgers unfortunately tend to collect “Clutter.” Clutter can also cause new orders to be placed on a credit hold when it otherwise would have been automatically released. Share How to Clean Up Your AR Ledger Launch a collection program to collect all past due invoices at least 15 days late.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle.

Credit and Collections 130

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

Credit Management Group UK

MAY 6, 2024

There will always be an element of risk to late payment when businesses provide credit to their customers, however there are ways to reduce this risk. Credit risk reporting can highlight anything untoward with regards to a company’s credit risk, for example any CCJs. appeared first on Credit Management Group UK.

Credit and Collections 83

Credit and Collections Credit Risk Order to Cash Credit Management 83

Serrala

SEPTEMBER 7, 2023

Read more Bild Collections & Disputes Automate and optimize collections processes and improve customer engagement. Reduce DSO and optimize working capital with the most comprehensive collections software. Read more Bild Collections & Disputes Automate and optimize collections processes and improve customer engagement.

Credit and Collections 98

Credit and Collections DSO Order to Cash Cash Applicator 98

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

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. Nothing is more frustrating to the sales team than an order from a new customer that sits waiting for approval.

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.

B2B Credit 40

B2B Credit Credit Application Digital Credit Application Credit and Collections 40

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.

Credit and Collections 246

Credit and Collections Past Due Invoices Bankruptcy Order to Cash 246

Your Virtual Credit Manager

FEBRUARY 21, 2023

That certainly holds true for business processes, including the management of your Accounts Receivable (AR) and the part it plays in the order-to-cash process. If your AR is deteriorating, you better diagnose the problem as quickly as possible so you don’t incur cash flow problems and bad debt losses.

DSO 130

DSO Credit and Collections Collection Effectiveness Index Bad Debt 130

Emagia

FEBRUARY 2, 2024

Top line, bottom line, and cash flow – the three critical components in business – are the barometers of the health of a business, that influence its sustenance and growth. Order To Cash (OTC) is one business process that impacts all these three elements. This calls for a robust credit management system in place.

B2B Credit 52

B2B Credit Credit and Collections Credit Application Credit Management 52

Your Virtual Credit Manager

DECEMBER 19, 2023

Hopefully, that is why you are reading Your Virtual Credit Manager. If, however, there are unpaid invoices that have been allowed to go beyond the 90 day mark, you have a serious collection problem. In most cases (90 percent or more), we find the customer has a valid claim and deserves a credit.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Credit Management Group UK

FEBRUARY 1, 2023

We have 3 live online training events that will help improve your credit management function. Try our live online training appeared first on Credit Management Group UK. We also cover how to react to defended actions and how to enforce a judgement.

Bad Debt 95

Bad Debt Credit and Collections Order to Cash Credit Management 95

Credit Management Group UK

NOVEMBER 9, 2023

Managing business cash flow effectively is essential to the survival of any business, many things will count towards positive cash flow, here I will be focusing on the credit management aspect of managing cash flow.

Order to Cash 75

Order to Cash Credit and Collections Credit Risk Credit Management 75

Your Virtual Credit Manager

MAY 7, 2024

Increased Costs: Managing payment disputes and chasing overdue payments incurs additional costs in terms of time, resources, and potentially legal fees should the dispute escalate. This can limit a supplier's capacity to extend credit to other customers. it just might help them collect faster and pay you sooner.

Credit and Collections 130

Credit and Collections Credit Risk Credit Management Order to Cash 130

Your Virtual Credit Manager

MARCH 7, 2023

On the plus side, promptly processing orders and avoiding unnecessary credit holds raises customer satisfaction. Problems in the order-to-cash process start when customer orders get passed along without a comprehensive order review. For a more extensive discussion of credit evaluations, go here.

Credit and Collections 100

Credit and Collections Order to Cash Bad Debt Credit Management 100

Your Virtual Credit Manager

APRIL 18, 2023

Just as payroll has been cost effectively handled by external processors for over 70 years, so can a variety of credit, collection and AR tasks and processes. Credit Risk Evaluations : If you purchase Credit Risk Insurance, the insurer will serve as your Credit Department. it just might help them pay you sooner!

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Third Party Collections 130

Emagia

NOVEMBER 21, 2023

As a longtime leader in the AI-based order-to-cash solutions industry, conferences around the world ask for Emagia representatives to appear and speak Artificial Intelligence, automation, and GenAI in finance. 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

Emagia

NOVEMBER 20, 2024

Robert Shultz has witnessed the remarkable transformation of the credit profession over decades. Today, however, innovative technologies enable credit professionals to assess entire portfolios holistically—once an unthinkable feat. Automation and AI are gifts to those managing portfolios,” he said.

Credit and Collections 52

Credit and Collections Credit Management Bankruptcy Order to Cash 52