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

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. However, quantifying scope 3 emissions presents a challenge. Collecting and measuring scope 3 emissions entails collecting intricate data from a web of suppliers.

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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?

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 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.

Accounts Receivable (AR) 100

Accounts Receivable (AR) Credit and Collections Default Cybersecurity 100

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

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.

Debt Collections 52

Debt Collections Credit and Collections Collector Credit Management 52

Credit Management Group UK

SEPTEMBER 19, 2023

Having an effective credit control function within your business can have a huge impact on your cash flow. Your credit control should use the most appropriate processes and procedures for yours and your customer’s business to ensure you are paid quickly and on time, as well as maintaining positive business relationships.

Credit and Collections 96

Credit and Collections Credit Management 96

Credit Tools

NOVEMBER 23, 2022

Attend the flash presentation of My DSO Manager, leading software for cash collection and credit management.

DSO 52

DSO Credit and Collections Credit Management 52

Credit Tools

DECEMBER 13, 2023

My DSO Manager has been named as a finalist in Credit and Collection Technology Awards organized by Credit Connect UK judging panel. The company has been invited and was also present for Think Tank.

Credit and Collections 40

Credit and Collections DSO 40

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 99

Credit Management Credit and Collections Order to Cash Credit Risk 99

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?

Automobile Dealerships 40

Automobile Dealerships Credit Scoring Credit and Collections Credit Card Payments 40

CreditStrong for Business

OCTOBER 8, 2024

Most utility payments will not appear on your credit report and will not affect your credit. Some services are available that will report utility bill payments, but some only report to one credit agency, and others charge a fee. Does Paying Utilities Build Credit? Missing utility payments can hurt your credit.

Credit Scoring 52

Credit Scoring Collector Credit and Collections Credit Reporting Agencies 52

Gaviti

FEBRUARY 18, 2024

Even with the most streamlined and automated A/R management process and B2B collections best practices , customers don’t always pay on time. At this point, your business should move from handling the invoice in-house to managing it through one of the debt collection outsourcing services listed below. billion by 2025 in the U.S.

Debt Collections 52

Debt Collections Credit and Collections Days Sales Outstanding Invoice to Cash 52

Abrigo

APRIL 22, 2024

Recent dynamics of the small business lending market A deep understanding of the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 97

Credit Unions Small Businesses Credit and Collections Credit Risk 97

Gaviti

DECEMBER 28, 2023

Collections calls typically rely on a team of individuals, each responsible for his or her own accounts. Although the idea is for the collections teams to build a rapport with their customers, the approach is flawed. Other inefficiencies of collections calls include: They are resource-intensive.

Credit and Collections 52

Credit and Collections Invoice to Cash Deductions Collector 52

Your Virtual Credit Manager

OCTOBER 2, 2024

In determining the cost/benefit of any collateralization program, you must factor in the differences presented by each type of program, which include: Who owns the AR — is it sold or pledged as security? Who performs the Credit & Collection activities — you or the finance company?

Past Due Invoices 130

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

Your Virtual Credit Manager

JUNE 25, 2024

Rising Days Sales Outstanding DSO measures the average number of days it takes to collect payment after a sale. A rising DSO indicates that your collections are not matching the rate of new sales, and if that goes on for any length of time, your cash flow will not be able to support the volume of your current business operations.

Bad Debt 130

Bad Debt Credit and Collections DSO Days Sales Outstanding 130

RMAi Blog

SEPTEMBER 13, 2024

On September 5, 2024 the CFPB issued its annual Fair Debt Collection Practices Act report. The report stated that the CFPB received approximately 109,900 debt collection complaints in 2023. The number one complaint type was “attempts to collect debt not owed.”

Collector 130

Collector Law Firms Credit and Collections Debt Collections 130

Abrigo

MAY 22, 2024

Recent stats and dynamics of the small business lending market Understanding the small business lending landscape and potential efficiencies can help banks and credit unions grow their portfolios. Dynamic market Small business lending by banks & credit unions Small businesses are a pillar of the U.S.

Credit Unions 78

Credit Unions Small Businesses Credit and Collections Credit Risk 78

Emagia

OCTOBER 27, 2023

The increasing use of generative AI (GenAI) – a key technology driving the exponential transformation of finance and business landscapes – is drastically changing the receivable collection tasks, making a greater impact on the cash flow and therefore the health of organizations. This increases the likelihood of timely collection.

Credit and Collections 64

Credit and Collections Cash Applicator Current Receivables 64

Gaviti

MAY 30, 2023

How well your team handles collections determines whether you have the cash to make payroll, pay taxes, and cover other financial obligations. What Is Accounts Receivable Collections Outsourcing? A/R collections outsourcing refers to the practice of hiring another entity to manage your collections activities.

Credit and Collections 98

Credit and Collections Cybersecurity Bankruptcy 98

Eastern Credit Management Services

DECEMBER 4, 2023

In the intricate world of debt recovery, success is not just measured by dollars collected but also by the relationships built along the way. At Eastern Credit Management Services, based in the heart of Atlantic Canada, we understand that communication, choice, and control are the pillars of a successful collections strategy.

Credit and Collections 52

Credit and Collections Credit Management Transactions 52

MNS Credit Management Group

OCTOBER 31, 2022

Since 2005, there have been several incidents involving unpaid debt in the UAE, but not every one of them presents an economically feasible opportunity for a corporation or individual to initiate a civil lawsuit. Thus, you can pretty easily find debt collection services in UAE with the help of Legal Consultants in Dubai.

Debt Collections 52

Debt Collections Credit and Collections Bankruptcy Default 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.

Credit Scoring 72

Credit Scoring Bankruptcy Credit and Collections Chapter 7 72

FICO Blog

DECEMBER 13, 2022

Digital Collections: 7 Things That Can Make You More Successful. Digital collections isn't a new concept, but it has taken on additional relevance in the current economic environment. This story of digital collections starts with Steve Jobs. This story of digital collections starts with Steve Jobs. FICO Admin.

Debt Collections 52

Debt Collections Credit and Collections 52

Your Virtual Credit Manager

MAY 7, 2024

Credit Risk: Persistent payment issues with a customer often signal credit risk, impacting a supplier's ability to secure financing or credit insurance related to the receivable in question. 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

Credit Management Group UK

NOVEMBER 7, 2022

Collection Performance £99 per person Running w/c 16th January 2023 Our Improving Cash Flow courses are beneficial to those new to collections, with no formal training, or to those who view the course as a refresher in credit control, wishing to improve and develop their collection techniques. Struggling to get paid?

Credit Management 65

Credit Management Credit and Collections 65

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

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 ).

Credit and Collections 130

Credit and Collections Law Firms Collector Credit Reporting Agencies 130

tillful

JUNE 14, 2023

Looking to learn the ins and outs of Experian business credit scores ? as a consumer credit reporting company, but it also collects information on millions of businesses and provides business credit reporting services. You can download the Tillful iOS app to check if your company has a credit profile with Experian.

Credit Scoring 52

Credit Scoring Credit and Collections Bankruptcy Credit Reporting Agencies 52

Your Virtual Credit Manager

JULY 30, 2024

If they are wrong, significant effort over an extended time is typically required to prove they are wrong and collect the money owed. The collection rate of the remaining 5 percent is often less than half. please take advantage of our July Sale to lock in a subscription to Your Virtual Credit Manager for just $34.99

Deductions 130

Deductions Credit and Collections Invoice Amount Credit Management 130

FICO Blog

JANUARY 18, 2023

Top 5 Debt Collection Posts of 2022: Crisis and Opportunity. As more people enter the collections queue due to rising costs and economic wobbles, our collections experts share their tips for early collections, digital approaches and more. Here are the top five posts from 2022 on debt collection trends. FICO Admin.

Debt Collections 52

Debt Collections Credit and Collections Collector Transactions 52

tillful

MAY 17, 2023

Here’s a closer look at what collection filings and derogatory marks mean for businesses. Plus, learn how long they stay on your record, how to prevent them, and tips on getting your business credit back on track. What does it mean to have a business debt in collections? What is a derogatory mark on a credit report ?

Credit and Collections 52

Credit and Collections Bankruptcy Credit Reporting Agencies Credit Scoring 52

Abrigo

APRIL 12, 2023

Building a strong credit review process A critical element of monitoring is an organization’s credit risk rating system. This blog will examine credit review in more detail. DOWNLOAD Takeaway 1 Loan review, or credit review, must be timely, thorough, and accurate to meet regulatory requirements.

Credit Risk 78

Credit Risk Credit and Collections CECL 78

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

CreditStrong for Business

AUGUST 30, 2024

Solid revenues, profitability, good credit scores, and length of time in business are all driving forces behind what minimizes the credit risk for a lender. According to the Federal Reserve’s 2022 Small Business Credit Survey the businesses that are most likely to get financing are in the manufacturing industry.

Credit Scoring 52

Credit Scoring Credit and Collections Insurance Companies Credit Risk 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.

Law Firms 130

Law Firms Credit and Collections 130