Your Virtual Credit Manager

OCTOBER 29, 2024

Finding the time and resources to complete every collection activity needed to be done at the optimal time to be done is a constant challenge. Most small companies come up short because the owner or CFO have more important things to do and there isn’t a dedicated employee responsible for credit and collections.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

Your Virtual Credit Manager

FEBRUARY 18, 2025

The better you know a customers, the easier it is to make a correct credit decision. Seldom is a poor decision made when there is ample information. One of the biggest challenges for any credit function is making a valid decision when information is lacking.

Credit Application 130

Credit Application Credit and Collections Bad Debt High-Risk Accounts 130

Credit Management Group UK

JANUARY 19, 2025

Wed all agree that writing effective collection letters is a balancing act between ensuring you receive payment in full and maintaining a positive working relationship with your customers. Include Adequate Details Provide your customers with bank details, or who to contact if you can take payment by credit/ debit card, in your letters.

Credit and Collections 90

Credit and Collections Credit Management 90

SAP Credit Management

AUGUST 7, 2023

To effectively manage the emission footprint, we must first measure it – this is where the importance of collecting and measuring emissions comes in. Collecting and measuring scope 3 emissions entails collecting intricate data from a web of suppliers. However, quantifying scope 3 emissions presents a challenge.

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Credit Management Group UK

DECEMBER 16, 2024

2025 could be the year for your business to improve and grow, however this relies heavily on how effectively your commercial credit management runs. Improving your commercial credit management in 2025 1. Stronger business relationships can be built within these phone calls which is extremely beneficial when collecting payment.

Credit Management 85

Credit Management Credit and Collections Order to Cash Credit Risk 85

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.

Collector 189

Collector Past Due Invoices Bad Debt Credit and Collections 189

Your Virtual Credit Manager

MARCH 4, 2025

We often talk about the importance of having an efficient and effective collection process and how, from a process improvement perspective, collections automation provides substantial benefits. We don’t, however, want to minimize the importance of the credit side of the equation. Do you need help improving cash flow?

Bad Debt 130

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

Abrigo

APRIL 24, 2025

Finding and managing vulnerabilities in credit portfolios Fresh reminders of why it's important to manage credit concentration risk are everywhere. Its a good reminder that in todays environment, risk managers and credit professionals should reexamine how they identify, assess, and communicate portfolio vulnerabilities.

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Credit Unions Credit Risk Credit and Collections Dashboards 78

Your Virtual Credit Manager

APRIL 8, 2025

Here’s a warning to trade creditor’s from a major commercial credit bureau (from CreditSafe’s Cost of Late Payments report). If you are extending credit to other businesses, it’s high time you began watching your customers closely for late payments and other signs of distress.

Bad Debt 130

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

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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Your Virtual Credit Manager

NOVEMBER 25, 2024

One thing that may help is adding some information or verbiage that explains in plain language what product or service you have delivered and are billing. Your Virtual Credit Manager is a reader-supported publication. Learn More About Credit Reports Please share this newsletter with your small business customers.

Credit and Collections 130

Credit and Collections Credit Management Default Small Businesses 130

RevCycle

DECEMBER 7, 2023

Be transparent about late fees and consequences: Clearly outline any late fees or penalties associated with overdue payments, but do so in a non-threatening, informative manner. Personalize your approach: Avoid generic collection letters. The post Holiday Collection Policy Tips from the RevCycle Heroes appeared first on RevCycle.

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Alternative Payment Methods Credit and Collections Credit Scoring Payment Portals 181

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

RMAi Blog

MARCH 11, 2025

The Court of Appeals of Wisconsin, District I, recently held that the National Bank Act does not preempt the Wisconsin Consumer Acts requirement to send a notice of right to cure to a borrower in default prior to filing a collection action. BACKGROUND A Wisconsin borrower defaulted on two credit card accounts issued by a national bank.

Credit and Collections 130

Credit and Collections Collector Default 130

Trade Credit & Liquidity Management

APRIL 25, 2025

Trade credit is a major source of capital for businesses buying from other firms in the United States. This has increased reliance, by both the seller and the buyer, on trade credit terms for the working capital needed to operate their businesses successfully. Changing Perceptions Savvy credit executives can change that perception.

Credit Management 52

Credit Management Credit and Collections Accounts Receivable (AR) Dashboards 52

Your Virtual Credit Manager

NOVEMBER 12, 2024

Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. Because most of your biggest customers will be larger firms instead of smaller, it is typically the larger firms that will require higher credit limits. Share Read more

Chapter 11 130

Chapter 11 Accounts Receivable (AR) Bankruptcy Credit and Collections 130

RMAi Blog

FEBRUARY 20, 2025

(Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, and StepChange , the UKs largest debt advice charity, recently partnered to highlight issues impacting people in debt in the United Kingdom. The recent gathering focused on findings from the Financial Conduct Authoritys (FCA) Credit Information Market Study.

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Credit Scoring Credit and Collections 130

RMAi Blog

AUGUST 13, 2024

Louis, MO August 12th – Credit Control, LLC (“Credit Control”) is proud to announce for the fifth year in a row, our employees have ranked us as winners in the Best Places to Work in Collections program. Credit Control was proud to be recognized by our team members, Best Companies Group, and ACA International.

Credit and Collections 130

Credit and Collections 130

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

RevCycle

JULY 26, 2023

In recent years, there has been a growing trend of medical debt credit cards being offered to patients. The Consumer Financial Protection Bureau (CFPB) is concerned about the risks associated with medical debt credit cards. Aggressive debt collection practices. Loss of credit reporting protections.

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Collector Credit and Collections Medical Billing Debt Collections 182

CreditStrong for Business

FEBRUARY 25, 2025

If a collection account is deleted, does your credit score increase ? The short answer is that it depends on the credit-scoring model used to evaluate your credit. If a collection account appears on your credit, it highlights a crucial issue with your financial health, which you should immediately work to improve.

Credit Scoring 52

Credit Scoring Credit and Collections Medical Billing Collector 52

Gaviti

NOVEMBER 24, 2024

The sooner your business collects on its invoices, the lower your financial risks and the better your financial position. One of the fastest ways to do this is via collections process automation to streamline the A/R process, eliminate manual tasks, and ensure timely follow-up with customers.

Credit and Collections 52

Credit and Collections DSO Average Days Delinquent Collection Effectiveness Index 52

Gaviti

JANUARY 7, 2025

Establishing a proper system for managing both open and overdue invoices that includes dunning workflows, reminder to pay invoice, and past due invoice emails proactively defends against extending credit to customers unable to pay. ACH, debit or credit cards, electronic wallets) and plans (e.g. Increase transparency and avoid disputes.

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Past Due Invoices Invoice Amount Payment Portals Credit and Collections 105

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

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. Your Virtual Credit Manager is a reader-supported publication. Share Read more

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Past Due Invoices Credit and Collections Credit Card Payments Default 130

TreviPay

APRIL 8, 2025

Sales teams manually entered orders, finance teams conducted credit checks over weeks, invoices were issued through fragmented systems and collections often required human intervention. AI-powered credit decisioning now enables near-instant credit approvals. Data Availability: Credit reporting standards vary widely.

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Credit and Collections Order to Cash Transactions Credit Risk 95

RMAi Blog

SEPTEMBER 16, 2024

CHANDLER, AZ – National Credit Adjusters, a receivables acquisition and management firm headquartered in Hutchinson, KS with a satellite location in Chandler, AZ, was pleased to continue support of an annual water drive spearheaded by the team in the Chandler office. It was another very successful water drive in Chandler this year.

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Credit and Collections 162

RMAi Blog

JULY 30, 2024

PETALUMA, CA — Cascade Receivables Management, LLC, part of the Cascade365 Family of Companies (“Cascade”), is proud to announce that it was recently selected as one of the 2024 Best Places to Work in Collections by ACA International and the Best Companies Group. This year, 38 companies met the standard to be selected.

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Third Party Collections Law Firms Credit and Collections 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.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Emagia

DECEMBER 30, 2024

This comprehensive guide delves into the multifaceted aspects of B2B debt collection, offering insights into its importance, challenges, and effective strategies to optimize recovery processes. Understanding B2B Debt Collection B2B debt collection involves the process of recovering unpaid invoices between businesses.

Debt Collections 40

Debt Collections Credit and Collections Bad Debt Transactions 40

Emagia

DECEMBER 23, 2024

Creating a comprehensive credit application checklist spreadsheet template is essential for businesses aiming to streamline their credit approval processes and assess customer creditworthiness effectively. It ensures that no critical detail is overlooked, thereby facilitating informed credit decisions.

Credit Application 40

Credit Application Credit and Collections Digital Credit Application 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.

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Credit and Collections Bankruptcy Past Due Invoices Order to Cash 246

RMAi Blog

FEBRUARY 13, 2025

LLC, President Elect Brian Williams, Crown Asset Management, LLC, Treasurer Joe Barbito, Orbita Capital Group, LLC, Secretary Brett Soldevila, Security Credit Services, LLC, Past President Michael Cassidy, Velocity Portfolio Group, Inc., Mellisa Massey, National Credit Adjusters, Director Mark Ravanesi, TrueAccord, Director Andrew J.

Law Firms 130

Law Firms Third Party Collections Credit and Collections Collector 130

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

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

MAY 23, 2023

Incidentally, the higher your gross margin, the more latitude you have in extending credit to marginally risky accounts. Any subsequent collection expenses and bad debt write-offs are more easily recouped through additional sales than if your gross margins are low. Do you need help with your credit policies and procedures?

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Bad Debt Credit and Collections Deductions Invoice Amount 49

RMAi Blog

JANUARY 27, 2025

Throughout his career, Dr. Nigrinis has managed investigations related to allegations of unfair or deceptive practices, fair lending, credit card fees, debt collections, and more. More information about RMAI is available at www.rmaintl.org.

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Law Firms Credit and Collections Debt Collections 130