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 Bad Debt Credit and Collections 189

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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SAP Credit Management

FEBRUARY 2, 2023

Instead, we’ll likely get results formatted in something called JSON (JavaScript Object Notation) JSON Documents The term JSON Document is used to describe either JSON Objects or JSON Arrays. For example, [Book] Title is a Key , and the Value for this might be Document Storage.

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Default 153

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

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.

Transactions 181

Transactions 181

Your Virtual Credit Manager

JANUARY 16, 2024

If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. You need to be doing the right things.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

NOVEMBER 29, 2022

Photo by Ralph Hutter on Unsplash Confronted with high interest rates and inflation, and heading into a what is increasingly looking like a recession, small- and medium-sized businesses (SMBs) will probably need to use a Collection Agency more than they have in the past.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 130

SAP Credit Management

JANUARY 6, 2023

Based on the collected information do some exercise in SAP HANA, express edition environment. Where to find documentations in SAP Help Portal? Which other documentation is important regarding SAP HANA partitioning? Reason of the Article. There is huge knowledge available belongs to SAP HANA partitioning.

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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

SAP Credit Management

AUGUST 14, 2023

If you have to setup SAP Document Management Service (DMS), Integration Option in connection of S/4HANA Public Cloud connecting an external repository – this blog-post will summarize steps to archieve a solution. With this tool you are able to check on your external repository what files / documents are transferred.

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SAP Credit Management

FEBRUARY 10, 2023

The SAP Document and Reporting Compliance, inbound invoicing option for Brazil team has released a new feature that enables you to send NF-e ICMS extension events to SEFAZ. Feel free to leave your questions on the SAP Document and Reporting Compliance SAP Community and read similar blog posts on the SAP Document and Reporting Compliance.

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Your Virtual Credit Manager

NOVEMBER 21, 2023

For most small businesses, collections are reactive. In the meantime, routine collections are driven by passive activities, often just a monthly statement. While statements provide a history of invoice, credit, debit and payment activity on an account, dunning notices focus on past due balances.

Credit and Collections 130

Credit and Collections Past Due Invoices Small Businesses Credit Management 130

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. Falsifying documents is another way criminals perpetrate frauds.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

Your Virtual Credit Manager

JANUARY 30, 2024

The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Manual collection processes centered on an aged accounts receivable trial balance (ARTB) lack the regimentation and efficiency brought about by automation. For a more in depth discussion of systematic collections, click here.

Credit and Collections 130

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

Abrigo

OCTOBER 21, 2024

How financial institutions deal with problem loans Problem loans are a natural outcome of the risks banks and credit unions take when lending, and they should be expected over the long run during the ups and downs of the business cycle. They would then be able to take steps to mitigate or avoid the losses as much as possible.

Credit Unions 78

Credit Unions Default Credit and Collections Credit Risk 78

Your Virtual Credit Manager

DECEMBER 26, 2023

In our case, we found our readers had an affinity for articles on identifying collection risks and the best ways of dealing with past due balances. Hopefully, these insights will help you with your collection efforts Not a subscriber … why don’t you take advantage of a YVCM subscription?

Collector 130

Collector Credit and Collections Default Third Party Collections 130

Your Virtual Credit Manager

OCTOBER 8, 2024

Companies selling other businesses on open terms need to ensure any collection agency partners can effectively collect non-performing receivables. Here are four prime example of issues that impede third party collections: 1. Doing this involves taking a series of proactive steps.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

SAP Credit Management

AUGUST 10, 2023

You know those cases where the release strategy is not being triggered in purchasing documents, or it is being triggered but not correctly or as you expect? Well, many of these issues are caused due to incorrect values in the documents for the characteristics defined in customizing. b) Change the net price value in the PO.

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Transactions 146

SAP Credit Management

JANUARY 30, 2023

I would like to show you, how external collected requirements can be uploaded into SAP Focused Build by using the requirements import function. So it can happen that the system set up and the collection of the requirements need to run in parallel. This function was designed to bring requirements from one system into another.

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Transactions 137

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 7, 2023

Looking around us, the Amazons, Netflixes, and HubSpots of the world were billing and charging clients automatically, while our business’s billing and collections looked pretty much the same as it had been done before computers. Getting paid can be a pain. Why not share this newsletter with your small business customers?

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

SAP Credit Management

FEBRUARY 10, 2023

In this blog post, you can find the latest collection of new capabilities in SAP S/4HANA Cloud, public edition, and SAP S/4HANA Cloud, private edition, in the area of Environment, Health, and Safety (EHS). Thanks for reading this blog post. Stay tuned!

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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

MARCH 19, 2024

If all your customers paid promptly — by the time the invoice was due — you would not need to do any collection work. Collections is a reactive process. The amount of collection activity with which you are tasked is directly proportional to your customers’ payment habits.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Your Virtual Credit Manager

NOVEMBER 14, 2023

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. What’s Right for Your Firm?

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Credit Sales Bad Debt Credit and Collections Credit Risk 130

SAP Credit Management

JANUARY 16, 2023

Documentation Library. Where to find documentations in SAP Help Portal? 2718597 – Collection solutions for some big growth tables relevant to HANA DB. Which other documentation is important in context of monitoring SAP HANA persistence? First/initial Release of the SAP Blog Post documentation (Technical Article).

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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

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

Your Virtual Credit Manager

NOVEMBER 7, 2023

If their collection efforts are more aggressive than yours, the customer will tend to pay your competitor sooner, while you end up waiting for this mutual customer to accumulate additional funds to pay you. They are an important reason for formulating credit and collection policies and procedures, but not every lapse is an act of commission.

Credit and Collections 100

Credit and Collections Collector Credit Management Small Businesses 100

Emagia

DECEMBER 19, 2024

Applying for credit can be a complex endeavor, whether you’re an individual seeking personal credit or a business aiming to establish credit lines. Understanding the Credit Application Process Before delving into the checklist, it’s crucial to comprehend the credit application process’s fundamental components.

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Credit Application Credit and Collections Credit Scoring 40

SAP Credit Management

JULY 28, 2023

This blog provides a comprehensive collection of APIs for Journal Entries. Find the links to the latest business documents for both SAP S/4HANA Cloud and SAP S/4HANA. Whether you are using SAP S/4HANA Cloud or SAP S/4HANA, this blog will equip you with all the necessary resources to effectively utilize and troubleshoot our API.

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Your Virtual Credit Manager

MARCH 5, 2024

Finding the time and resources to accomplish all the collection activities required to do a good job is a constant challenge. Most small companies come up short because when there isn’t a dedicated employee responsible for credit and collections, the owner or CFO have more important things to do.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Accounts Receivable (AR) 100

Credit Management Group UK

JUNE 16, 2024

Throughout my years in commercial credit management, I have identified several mistakes that companies make within their order to cash process; mistakes that are often very small and easily fixed; make enough of them, however, and you could find your cash flow isn’t flowing the way you would like it to.

Credit Management 101

Credit Management Credit and Collections Order to Cash Credit Risk 101

SAP Credit Management

SEPTEMBER 19, 2023

Read on to find out how its core capabilities, Contract Accounting and Convergent Invoicing, plus integration with SAP Document and Reporting Compliance, can help you with everything from tax calculation and compliance, billing and invoicing, through to statutory reporting and payment collection.

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Transactions 193

CreditStrong for Business

DECEMBER 6, 2024

Business lines of credit are one of the most versatile types of business financing. Theyre similar to credit cards in many ways, but their credit limits are often many times higher and interest rates much lower. No one is going to hand over a credit account worth $100,000 or more without careful consideration.

Credit Scoring 40

Credit Scoring Credit and Collections Credit Unions Small Businesses 40

Abrigo

FEBRUARY 12, 2025

Banks & credit unions use technology to solve challenges AI today is the result of decades of research and development. Financial institutions have embraced advances in data-driven decision-making , using them to improve credit assessment, fraud prevention, and financial inclusion. This Transformer architecture really took off.

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Credit and Collections Credit Reporting Agencies Credit Unions Credit Risk 88

Your Virtual Credit Manager

JUNE 18, 2024

That’s why it is standard to ask on a credit applications the year in which the business was formed. Years in business is a critical factor in the assessment of credit risk along with number of employees, which can be a good proxy for sales volume, something private businesses are not always willing to disclose.

Bad Debt 100

Bad Debt Credit and Collections Credit Risk Credit Card Companies 100