Credit and Collections High-Risk Accounts Transactions 
Your Virtual Credit Manager
DECEMBER 31, 2024
In our case, we found a continued interest in collection technique and strategy, as well as in fighting credit fraud. Delaying collection efforts sends a message to customers that late payments are acceptable, establishing a bad precedent. To avoid this, collections should begin within 3-7 days of the due date.
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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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!
Your Virtual Credit Manager
SEPTEMBER 17, 2024
For small business executives, and many mid-sized businesses as well, managing collections effectively can be a significant challenge, particularly when time and resources are limited. To improve your collection efforts, you need to first see what is under the hood. Do you need help assessing your customers’ credit risks?
Your Virtual Credit Manager
JUNE 27, 2023
Some have good credit, others are clear risks. The first evidence a business fits this persona is when their payment history — both references and credit bureau report — indicates they pay all their vendors promptly. When that happens, it is time to review their credit again.
Know-It Global
JUNE 20, 2023
Credit control is a vital aspect of financial management for businesses. It involves managing credit sales and making informed credit decisions, ensuring timely payment from customers, and minimising bad debt. Setting Up Credit Control Processes 1.1 This is where business credit checking comes into play.
Your Virtual Credit Manager
MAY 16, 2023
When a commercial account wants to buy your product, chances are they will want credit terms. Business credit, also known as trade credit, facilitates the flow of goods and services between business trading partners. The purpose behind extending trade credit is to facilitate the sale of some other product or service.
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