Your Virtual Credit Manager

DECEMBER 27, 2022

Subscribe now Sources of Business Credit Information Assessing a firm’s creditworthiness in light of each of these eight factors requires specific information. Here are the five primary information sources used to evaluate an accounts credit risk. Click here for more information about credit applications.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 130

Credit Management Group UK

MARCH 4, 2024

The decision making process for granting a potential customer credit should be made up of a jigsaw of several different types of information, rather than relying on one method only. Credit Checks Does your customer have the ability to pay you when all is said and done?

Credit Risk 96

Credit Risk Bad Debt Credit and Collections Credit Application 96

Your Virtual Credit Manager

MARCH 28, 2023

Volumes have been written about the criteria you should use to make a credit decision. The rigor with which this information is often presented belies the fact most business credit decisions are not that difficult. There is a challenge, however, with the 20 to 30 percent of credit decisions that fall in between.

Credit Scoring 130

Credit Scoring Credit Application Bad Debt Credit Risk 130

Emagia

JUNE 21, 2024

With the rapid advancement of digital technology, businesses can no longer afford the inefficiencies of slow credit applications, validations, and approvals. Empowering the credit team with intelligent Order-to-Cash (OTC) digital solutions is essential. Conducting reference checks online instead of through paper applications.

B2B Credit 40

B2B Credit Credit Application Digital Credit Application Credit and Collections 40

Credit Management Group UK

JULY 19, 2023

Small businesses need to ensure they have the most effective credit management systems and skills to tackle late payment seriously, to avoid becoming one of those statistics. Credit management should be ‘customer focused’. Manage disputed invoices by setting a time limit to resolve issues.

Credit Management 49

Credit Management Bad Debt Credit and Collections Credit Application 49

Your Virtual Credit Manager

DECEMBER 6, 2022

At a very basic level, you should always have new customers complete a credit application, including bank and vendor (trade) references, and sign a credit agreement ( for an article about credit appications click here ). Buy Credit Reports In regard to collections, a well defined process is imperative.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Your Virtual Credit Manager

FEBRUARY 13, 2024

Here’s a primer on credit insurance. Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. Check out this posting for more information on migrating to the acceptance of digital payments.

Bankruptcy 130

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

Your Virtual Credit Manager

JANUARY 16, 2024

Lack of Primary Documents Most of the time it won’t matter if don’t have a signed credit agreement or contract, but it will if you are forced to place an account with a collection agency, and even more so if you have to go to court to recover your receivables. This information is vital for determining the next step to take.

Debt Collections 130

Debt Collections Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

JULY 18, 2023

That’s because there are several reliable sources of information that often will preclude the need for you to ask a customer for their financial statements: A Credit Bureau Report (e.g. If you can’t justify a small credit limit, make them pay by credit card or in advance.

Credit and Collections 130

Credit and Collections Credit Scoring Credit Management Credit Application 130

Gaviti

OCTOBER 23, 2023

A business credit score is a rating whose goal is to demonstrate how financially responsible a business is as well as its potential for profitability. The number and type of credit applications, payment history, history of debt, company structure and personal credit score of the founders or owners all affect a business credit score.

Credit Scoring 97

Credit Scoring Credit and Collections Credit Application Bankruptcy 97

Your Virtual Credit Manager

MARCH 19, 2024

To continue reading and learn about eleven events or circumstances that should trigger a collection response, in addition to when a customer goes past due, you need to be a paid subscriber to Your Virtual Credit Manager. The experts at Your Virtual Credit Manager can help you bring in the cash.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 100

Emagia

MARCH 15, 2024

Risk Identification Risk Identification is arguably the most testing part of credit risk management which leverages the capability of AI tools to predict based on the historical information and on variations in environmental variables.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

Emagia

MARCH 15, 2024

Risk Identification Risk Identification is arguably the most testing part of credit risk management which leverages the capability of AI tools to predict based on the historical information and on variations in environmental variables.

Credit Risk 52

Credit Risk Default Credit Management Credit and Collections 52

Your Virtual Credit Manager

JULY 23, 2024

please take advantage of our July Sale to lock in a subscription to Your Virtual Credit Manager for just $34.99 Subscribe now Do you need help managing credit and collections? The experts at Your Virtual Credit Manager are currently offering 33% off our standard small business consulting rates.

Credit and Collections 130

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

Your Virtual Credit Manager

DECEMBER 13, 2022

Share The Collection Calling Process Establish Communications: Hopefully, contact information for the people responsible for paying your customer’s bills was captured during your new customer on-boarding process and in your credit application. Please feel free to share this newsletter with your small business customers.

Collector 130

Collector Credit and Collections Past Due Invoices Credit Management 130

Your Virtual Credit Manager

JANUARY 3, 2023

Email us to learn how the experts at Your Virtual Credit Manager can help you clean up your AR Ledger and increase cash flow by improving your Collection Process. Credit Analysis and Portfolio Monitoring Software: These solutions are for managing risk after the initial order has been approved.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Credit & Management Systems, Inc.

JUNE 11, 2012

This Program, a collaborative effort between NACM, NACM- Tampa and selected third-party solution providers, including CMS, will provide the National Trade Credit Report (NTCR) through the CMS Credit Suite web application platform and CMS’s Corporate Credit Manager (CCM) software system.

Credit Management 40

Credit Management Credit and Collections Credit Application Order to Cash 40

Your Virtual Credit Manager

AUGUST 8, 2023

Collecting from other businesses begins as a series of reminders followed by administrative tasks to provide your customer with the information they need to pay your invoice, and can also involve reconciling your information to theirs. To be effective at this requires good process and time management.

Credit and Collections 100

Credit and Collections Third Party Collections Bad Debt Credit Management 100

Credit Management Group UK

AUGUST 7, 2024

It is a wide spread misconception that credit management is solely based around the collection of overdue invoices, when in fact the scope of effective credit management encompasses the entire process from order to payment. The information displayed on an invoice should be agreed with your customer at the outset.

Order to Cash 68

Order to Cash Credit and Collections Credit Management Credit Application 68

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

Gaviti

DECEMBER 12, 2023

Real-time analytics provides accurate and timely information to help you make better decisions for the company. Work with your accounts receivable team to determine what information needs to be included. Then, design an invoice that includes only this information in a way clients find easy to follow and understand.

Credit and Collections 98

Credit and Collections Invoice to Cash Deductions Cash Applicator 98

The Red Spectrum

MAY 18, 2023

Before diving into the details, let’s first understand what credit bureaus are. Credit bureaus, also known as credit reporting agencies, are organizations that collect and maintain information about individual and business credit histories.

Credit Card Payments 91

Credit Card Payments Credit Scoring Credit Reporting Agencies Credit and Collections 91

Emagia

FEBRUARY 2, 2024

OTC, the main cash flow driver, has many subsets within it, and credit management is more important than it looks on the surface. This calls for a robust credit management system in place. What is B2B Credit Automation For The Digital Era? Most ERPs can automate only a small portion of credit control operations.

B2B Credit 52

B2B Credit Credit and Collections Credit Application Credit Management 52

Priority Credit Management Corporation

NOVEMBER 19, 2020

As PCMs Production Manager, I can say without a doubt that the clients who provide us with solid backup enjoy much more recovery success than clients where it is difficult for us to justify the debt and fully understand the situation due to a lack of information. Essentially, back-up is any information that will help us to collect.

Credit and Collections 52

Credit and Collections Credit Application Credit Management 52

MNS Credit Management Group

MAY 20, 2022

A report is a useful tool for determining credit limits for both new and existing consumers. Place An Order For Business Information Report: Contact Email: info@mnscredit.com | Call: +91-9560700251/ +91-9560733277. What Makes The Credit Opinion Report So Trustworthy? What Does Custom Credit Opinion Mean?

Credit Scoring 52

Credit Scoring Credit Application Default Credit Management 52

Gaviti

APRIL 11, 2024

Manage your cash from multiple sources and ensure precise cash allocation with both single and multi-bank connectivity. Credit management and monitoring. Send online credit applications to existing and potential customers to evaluate customer’s creditworthiness.

Bad Debt 98

Bad Debt Credit and Collections Collection Effectiveness Index DSO 98

Eastern Credit Management Services

NOVEMBER 13, 2019

You can do this quite effectively by having a detailed credit application, I’m so much of a proponent of this that I wrote a whole blog dedicated to creating one. A detailed credit application does two things, it informs your customer of the terms and conditions of the credit you extend.

Bad Debt 52

Bad Debt Small Businesses Credit Reporting Agencies Credit Application 52

Gaviti

OCTOBER 30, 2023

When traditional credit management and cash application is automated, it reduces the need for staff and makes the credit management and customer payment process more efficient. Armed with this real-time information, your finance team can decide how it should tailor its approach to A/R invoice collections.

Days Sales Outstanding 75

Days Sales Outstanding Invoice Collections Credit and Collections DSO 75

Eastern Credit Management Services

APRIL 20, 2021

It is a tool that any company may implement as part of a broader collection management policy. Is it a tool that will work for you and if so, how do you add it to your credit management policy? Any company may charge interest on goods and services purchased on credit by their customers.

Credit and Collections 52

Credit and Collections Credit Management Credit Application 52

Gaviti

JULY 11, 2024

Simplify workflows and improve A/R processes such as invoice distribution, tracking payments, credit management, bank reconciliation and dispute management. This in turn fosters greater collaboration among teams and the ability to make more informed decisions. Credit monitoring and management.

DSO 52

DSO AR Automation Credit and Collections Bad Debt 52

Gaviti

DECEMBER 18, 2024

These reporting features also help businesses predict trends and make more informed strategic business decisions. CRM, ERPs, accounting software), youll have access to the most accurate payment data, more efficient payment reconciliation, customer information and communication records.

Collection Effectiveness Index 52

Collection Effectiveness Index DSO Credit and Collections Invoice to Cash 52

Gaviti

NOVEMBER 24, 2024

Offering a customer-facing payment portal gives customers a very smooth experience because the customer doesn’t need to know your bank account information and is less likely to make a mistake that will prevent you from reconciling the invoice later. Establish proactive credit management policies.

Credit and Collections 52

Credit and Collections DSO Average Days Delinquent Collection Effectiveness Index 52

Emagia

NOVEMBER 21, 2023

AI can help decrease DSO by improving collections and credit management processes. With sophisticated algorithms utilizing external and internal data, AI can detect when to raise or lower credit limits or put a red flag on a request. Do Finance- or Credit-Specific Generative AI Solutions (Like ChatGPT) Exist Yet?

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections B2B Credit 52

Prosper

JANUARY 13, 2023

The lender then looks at the borrower’s credit and the type of loan they’re applying for and use this information to calculate the interest rate you’ll be expected to pay for a loan. FICO® generates your credit score by applying its proprietary formula to the information in your credit report.

Credit Scoring 98

Credit Scoring Credit and Collections Bankruptcy Nonprofit Organizations 98

Emagia

JUNE 12, 2023

It involves identifying, assessing, and mitigating the potential risks associated with extending credit to customers or counterparties. Effective credit risk management enables organizations to make informed decisions, protect their assets, maintain healthy cash flows, and safeguard against default and financial losses.

Credit Risk 52

Credit Risk Credit and Collections Bad Debt Default 52

CreditStrong for Business

OCTOBER 3, 2024

It starts when you complete a credit application through a lender. This could be for a credit card, personal loan, or any type of trade credit. When a lender approves your application, you’ll see the new account on your credit report once that new information is shared with the credit bureaus.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Card Companies Credit Application 52

CreditStrong for Business

OCTOBER 11, 2024

Business credit reports that contain data from the SBFE might make or break your future business credit applications. The outcome all depends on whether the information the SBFE collects about your small business is positive or negative. The SBFE is similar to your average business credit reporting agency in several ways.

Credit Reporting Agencies 52

Credit Reporting Agencies Credit and Collections Credit Scoring Small Businesses 52