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?

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Collector Credit and Collections Default Third Party Collections 130

SAP Credit Management

SEPTEMBER 25, 2023

Event-driven architecture, exemplified by the SAP Event Mesh, addresses this by allowing systems to promptly respond to changes, optimizing both performance and efficiency. Through my integration of SAP Event Mesh and SAP S/4 HANA Cloud, I aim to demonstrate the potential for businesses to elevate transparency, speed, and adaptability.

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Order to Cash 173

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. 111501 Evento Pedido Prorrogação 2º prazo: used to request the deadline extension for the second time. If so, choose “Like” and follow me for similar content.

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SAP Credit Management

JANUARY 25, 2023

Webinars and online events became increasingly popular since the Covid pandemic. This blog post is intended to continuously collect events and it will be updated regularly as new ones are organized. There is a wide variety of them out there, but it is hard to find out about them in time.

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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

SAP Credit Management

JANUARY 12, 2023

Fluid Tele-collaboration in Virtual Reality using the Metaverse Today: An SAP Recruitment Event Case Study. It was implemented as a case study exercise, utilized in a recruiting event, adressing “How it feels to be an SAP consultant.” The results were quite encouraging, informative, and in some respects also surprising! .

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Transactions 139

RMAi Blog

OCTOBER 4, 2024

On October 1 st , 2024, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced actions to reduce the burden of medical debt and address medical debt collection practices in a coordinated event with the White House. The video of the White House event can be found here.

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Medical Billing Collector Debt Collections Credit and Collections 130

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.

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Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

Your Virtual Credit Manager

JANUARY 23, 2024

Approving a customer for credit terms is merely the first step in an open credit relationship. Economic circumstances may cause you to tighten your credit policies and customer credit limits. The remainder of the review will mirror an initial credit evaluation (here’s more information on Evaluating Credit ).

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Credit Application Bad Debt Bankruptcy Credit Scoring 130

Your Virtual Credit Manager

AUGUST 27, 2024

Imagine a world where extending trade credit was completely risk-free, and granting open terms of sale to business customers required no second thought. In such an ideal scenario, every customer would have both the ability and the integrity to pay their bills in full and on time, eliminating any need for a credit management.

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Accounts Receivable (AR) Credit and Collections Default Cybersecurity 100

Your Virtual Credit Manager

JULY 23, 2024

Once each customer’s payment proclivities are known, assigning appropriate monitoring and collection strategies is easily done, thereby ensuring adequate collection coverage. However, over the course of a year there will be events and situations that will cause these patterns to change.

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Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Chaser

SEPTEMBER 13, 2023

Chaser is shortlisted for Machine Learning in Credit & Collections Solution, and Chaser's CEO is shortlisted for Technology Innovator – Person of the Year

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Credit and Collections 59

aptic

OCTOBER 2, 2024

New figures show that debt collection claims are rising in Sweden. When unpaid invoices are sent to debt collection, companies are faced with liquidity problems and an overloaded finance department that finds it difficult to handle the increased debt collection demands and daily work.

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Debt Collections Credit and Collections 52

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?

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Automobile Dealerships Credit Scoring Credit and Collections Credit Card Payments 40

Eastern Credit Management Services

FEBRUARY 2, 2024

In the dynamic landscape of debt collection, where regulations evolve, debtor behaviors change, and technology advances, staying ahead of the curve is crucial for success. Navigating Regulatory Changes Collection training seminars play a pivotal role in keeping professionals abreast of the ever-changing regulatory environment.

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Collector Debt Collections Credit and Collections Credit Management 52

Know-It Global

NOVEMBER 10, 2022

Thinking about outsourced credit control? Credit control is the solid foundation that a finance team should be built around. Outsourced credit control. And it’s only at this point they recognise the magnitude of having a sound credit control process mapped out and followed.

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Credit Management Credit and Collections 98

MNS Credit Management Group

SEPTEMBER 24, 2023

In addition to giving solicitors instructions to start legal proceedings, we also offer credit management services including sending letters of demand prior to legal action, a service that looks into a company’s history, credit reports, and status reports. When a client owes a business money, consumer collections take place.

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Debt Collections Credit and Collections Collector Credit Management 52

Lendio

MAY 3, 2024

A personal credit score determines the level of risk that comes with lending to you. You use it to apply for credit cards and other financing options to cover major purchases. A business credit score works similarly, except instead of evaluating your risk as an individual, financial institutions evaluate your business’s viability.

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Credit Scoring Credit and Collections Bankruptcy Transactions 97

SAP Credit Management

DECEMBER 20, 2022

Our team is dedicated to collect and generate value accelerators (including process models, metrics, industry best practices, thought leadership and much more) that embed the collective knowledge and experience from thousands of transformation projects that SAP delivered over the years. How do you become a part of it?

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Gaviti

FEBRUARY 17, 2024

For some customers, however, you’ll need another strategy altogether for collecting unpaid and overdue invoices: debt collection. The Key Components of Effective A/R Management The main aspect of A/R management is the collections of receivables. Streamlined credit management. These include: A streamlined dunning process.

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Debt Collections Credit and Collections DSO Invoice Collections 52

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

AUGUST 23, 2024

A good business credit report can be a valuable asset. Keep reading to learn more about how business credit reports work, who creates them, and the information included in these important but poorly understood reports. What Is a Business Credit Report? Good business credit can open the door to opportunities.

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Credit Reporting Agencies Credit Scoring Credit and Collections Bankruptcy 52

RMAi Blog

AUGUST 14, 2024

This intimate event was packed with opportunities to meet new people, connect with friends, and learn more about the latest news in the industry. RMAI is concerned that the current exemption for credit cards is not broad enough. Last week, 175 executives gathered in beautiful Santa Ana Pueblo, NM for the 2024 Executive Summit.

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Electronic Funds Transfer Credit and Collections Bankruptcy Law Firms 130

MNS Credit Management Group

MAY 25, 2023

The main purpose of debt collection in any country is to find an amicable and smooth settlement of dues between a debtor and a creditor. However, in Indonesia, there are no specific rules regarding debt collection service companies. This also explicitly states that use of force in any debt collection activity is prohibited.

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Debt Collections Credit and Collections Collector Law Firms 52

RMAi Blog

OCTOBER 18, 2024

As Director of Business Development at National Credit Adjusters, LLC , my involvement with the Receivables Management Association International (RMAI) has been important to my career in receivables management and greatly beneficial to the success and continual improvement of our industry and collective industry organizations.

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Law Firms Credit and Collections 130

CreditStrong for Business

AUGUST 30, 2024

Credit bureaus no longer can include eviction record entries in consumer credit reports following changes implemented by the Consumer Financial Protection Bureau, an agency associated with the Fair Credit Reporting Act. However, any remaining rent owed is generally considered unpaid debt that a collection agency will pursue.

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Credit Reporting Agencies Credit and Collections Bankruptcy Credit Scoring 52

Due

APRIL 2, 2024

Life’s uncertainties—job loss, emergencies, foreclosures, bankruptcies—can severely damage credit. With a commitment to bouncing back, discipline, careful planning, concrete goals, and strategic choices, it is possible to recover from financial troubles and rebuild your credit status. Bad credit carries numerous disadvantages.

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Credit Scoring Bankruptcy Credit and Collections Chapter 7 72

MNS Credit Management Group

DECEMBER 2, 2022

Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Some debt collectors are also debt purchasers; these businesses buy debt below its face value and then make an effort to collect the entire amount owed. Reasons To Hire A Collection Agency.

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Debt Collections Collector Credit and Collections Bad Debt 52

CreditStrong for Business

AUGUST 2, 2024

In many cases, a consumer who has seemingly been managing their finances responsibly will notice an unexpected credit score drop. This negative credit score fluctuation is particularly troubling for those concerned with maintaining good credit for an upcoming home or auto loan. 8 Reasons Why a Credit Score Drops 1.

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Credit Scoring Bankruptcy Credit and Collections Third Party Collections 52

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.

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Credit Management Credit and Collections Order to Cash 52

TreviPay

SEPTEMBER 18, 2024

Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. Trade credit insurance, also known as accounts receivable insurance, safeguards businesses from significant losses. This guide to trade credit insurance will help you navigate the complexities of it.

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Bad Debt Default Credit and Collections Collector 52

Lendio

APRIL 23, 2024

The lender will usually look at the credit history of the business owner to gauge honesty and reliability. Whether or not they’ve used credit before. Lenders will also look at the credit scores of the owners of the business. This score is numeric, typically between 300 and 850, gleaned from the info in your credit report.

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Credit Scoring Credit and Collections Default 52

RMAi Blog

OCTOBER 14, 2024

In This Update Earlier this month, the CFPB issued an Advisory Opinion reminding debt collectors of their obligation to comply with the Fair Debt Collection Practices Act and Reg F’s prohibitions on false, deceptive, or misleading representations in the collection of medical debt (see RMAI’s October 4, 2024 Member Alert ).

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Credit and Collections Law Firms Collector Credit Reporting Agencies 130

RMAi Blog

JANUARY 23, 2023

HUTCHINSON, KS – National Credit Adjusters , whose mission is to bring integrity, professionalism, and the highest standards of compliance to debt servicing, is proud to announce that they have recently donated to their local TECH organization. To reach out to TECH, or to make a donation to the organization, visit their website.

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Credit and Collections 100

Abrigo

JANUARY 24, 2024

Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. DOWNLOAD Takeaway 1 Preventing fraud is a top concern of credit unions considering adopting FedNow, the new instant payments infrastructure from the Federal Reserve. These include the ability to accept a payment without posting.

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Credit Unions Credit and Collections Transactions Cybersecurity 88

JSP Credit Management

MARCH 16, 2022

As a company that is still in its first year of trading, we like to get ourselves about a bit, at various business functions and networking events. Some recent experiences at a couple of those events have inspired us to write this blog. It does not necessarily mean that debt collection and debt factoring are mutually exclusive.

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Debt Collections Credit and Collections Collector Credit Management 52

Your Virtual Credit Manager

MAY 14, 2024

One of the biggest challenges for small business executives is finding enough time, so it’s important to efficiently monitor your cash position to avoid disruptive events. Do you need help collecting past due receivables or understanding your customer portfolio risks? it just might help them collect faster and pay you sooner.

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