Your Virtual Credit Manager

APRIL 1, 2025

In too many organizations, credit and collection decisions are compromised by the fog of war. Gathering all the details needed to inform a decision becomes a time-eating burden. What if that information isn’t in one place? Too often, customer and AR information is kept in an assortment of data silos.

Credit and Collections 130

Credit and Collections Sales Tax Exemptions Accounts Receivable (AR) Collector 130

Gaviti

SEPTEMBER 6, 2023

Contact your customer success manager or email us at info@gaviti.com Join our webinar on Sep 13th to learn more about the new Cash Application module >> Credit Application Management: Empowering Risk Management and Visibility Avoid high risk customers from the start and monitor ongoing risk as they build a relationship with you.

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Cash Applicator Credit Application Collector Bad Debt 98

Fundera

JUNE 14, 2016

To grow or expand your business, you need to have a source of extra cash… And for many businesses that means filling out a business credit application. The better you can describe your business and your need for a loan, the stronger your business credit application will be. Tell a story.

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Credit Application Credit Scoring Credit and Collections Small Businesses 73

Your Virtual Credit Manager

MARCH 4, 2025

We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.

Bad Debt 130

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

Your Virtual Credit Manager

DECEMBER 31, 2024

For more information on this subject, please click on this link. Besides driving O2C process improvement, the experts at Your Virtual Credit Manager can apply default risk probabilities & other financial benchmarks to your AR portfolio to reveal actionable credit & collection insights. Need help improving cash flow?

Collector 130

Collector Credit and Collections Bad Debt High-Risk Accounts 130

Gaviti

JANUARY 6, 2025

3) Include all the necessary details Make sure to provide all the necessary details for contact and payment so your customer has all the information they need in the invoice itself. 7) Keep your tone polite and professional Many businesses are emotional or add remarks and irrelevant information to their letters.

Credit and Collections 92

Credit and Collections Days Sales Outstanding Invoice to Cash Invoice Amount 92

Emagia

NOVEMBER 20, 2024

What is a Credit Application on Hold? When a credit application is marked as ‘on hold,’ it means that the creditor has paused the approval process due to missing information or further review requirements. Common abbreviations for this status include COH (Credit on Hold) and PA (Pending Approval).

Credit Application 40

Credit Application 40

Your Virtual Credit Manager

OCTOBER 18, 2022

These factors will determine: How much credit bureau information you purchase The amount of financial disclosure required of the applicant The scope of your background investigation Please feel free to share this newsletter with your small business customers. For more about the importance of credit applications, click here.

Sales Tax Exemptions 130

Sales Tax Exemptions Credit and Collections Online Credit Application Credit Application 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 Scoring 40

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) Bankruptcy 130

Lendio

OCTOBER 26, 2023

Lendio internal data The post Lendio Pledges Continued Support for Small Businesses with Employee Retention Tax Credit Applications appeared first on Lendio.

Credit Application 52

Credit Application Small Businesses 52

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

CreditStrong for Business

FEBRUARY 25, 2025

In this article, we explain what happens when hard inquiries fall off and share positive credit building habits and solutions that can help you bounce back after your score dips. A hard inquiry, also called a hard pull, is an inquiry that appears on your credit report after a lender requests information about your credit history.

Credit Scoring 52

Credit Scoring Credit Application Dashboards 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. Set up payment plans for customers who have complex payment needs and need more flexibility.

Credit and Collections 52

Credit and Collections DSO Average Days Delinquent Collection Effectiveness Index 52

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

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 ). You can find out more about AR portfolio monitoring here.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 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 99

Credit Risk Bad Debt Credit and Collections Credit Application 99

Your Virtual Credit Manager

NOVEMBER 29, 2022

Validity of the Debt — Providing your Collection Agency with complete and accurate information about the debtor and the debt is crucial to the agency collection the debt. This is all information that an attorney or collection agency can use to skip trace and locate assets as well as ascertain the individuals involved in ownership.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Default Collector 130

RMAi Blog

APRIL 13, 2023

In support of Financial Capability Month, the Receivables Management Association International (RMAI) presents the following information. Additional information on this topic and more is available online from the Consumer Financial Protection Bureau. Credit cards and debit cards can be confusing.

Credit and Collections 130

Credit and Collections Credit Unions Deductions Credit Application 130

Your Virtual Credit Manager

SEPTEMBER 12, 2023

Processing Delays There are several AR activities that often take longer than they should and therefore cause delays: processing credit applications, approving orders, generating invoices, and posting payments. Credit evaluations, however, often take time. Here’s more on credit evaluations.

Credit and Collections 130

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

Credisense

APRIL 15, 2021

In a whitepaper, IBM managed to demonstrate how the inclusion of an automated biometric tool for Columbian Co-Operative Bancoomeva would reduce credit application processing time from 17 days to 30 minutes. The post The increasing use of biometric information for identity verification appeared first on Credisense.

Credit Application 40

Credit Application 40

Gaviti

FEBRUARY 4, 2025

Harnessing internal data empowers your team to make informed decisions that improve efficiency and drive faster collections. Run a Consistent and Robust Credit Process Credit management is the foundation of effective AR. A standardized and scalable credit process ensures you balance risk with reward.

Average Days Delinquent 59

Average Days Delinquent Credit and Collections AR Metrics Accounts Receivable (AR) 59

Lendio

JANUARY 11, 2023

Consumer credit reporting agencies like Equifax, TransUnion, and Experian can only share your credit file details with those who have a permissible purpose to view that information. The Fair Credit Reporting Act (FCRA) outlines who is allowed to access your credit information and when. Loan applications.

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Credit Reporting Agencies Credit Scoring Credit Application Small Businesses 98

Your Virtual Credit Manager

FEBRUARY 6, 2024

As a small business owner or executive, managing accounts receivable (AR) and navigating through various credit decisions is an integral part of the job. After all, credit and collections is essential to the performance of your order-to-cash (O2C) process and cash conversion cycle.

Credit and Collections 130

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

Gaviti

NOVEMBER 4, 2024

Centralized hub of information. Gather information in one place to enable customers to view the status of all current payments, disputes, track customer communication, and add supporting documents. All information such as payment history, payment status, disputes, email communication, and more is readily accessible.

Credit and Collections 52

Credit and Collections Invoice to Cash Payment Portals DSO 52

Gaviti

FEBRUARY 27, 2025

Payments made through Gaviti’s Self-Service Payment Portal benefit from 100% automated matching, ensuring swift and precise cash application. Credit Management: Empowers informed decision-making regarding customer credit by leveraging the AI Assistant to gather and analyze creditworthiness data.

Invoice to Cash 66

Invoice to Cash Payment Portals Credit and Collections Days Sales Outstanding 66

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

CreditStrong for Business

DECEMBER 12, 2024

They’ll use your employment history, proof of residence, and income information to decide on lending to you. Subprime auto loans are built for people with inconsistent credit information on their report, poor credit, or no credit. In many cases that information takes the place of your credit score.

Credit Unions 52

Credit Unions Credit Scoring Default Credit Application 52

Your Virtual Credit Manager

FEBRUARY 13, 2024

Check out this posting for more information on migrating to the acceptance of digital payments. There are products for processing new customer credit applications, credit analysis, collections, and remittance processing to name a few. Can you process new customer credit applications online?

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

CreditStrong for Business

DECEMBER 12, 2024

As a result, both the FICO and VantageScore credit scoring models expect borrowers to shop around to keep financing costs as low as possible. They give you a short window during which multiple applications count as one credit application. While youre at it, its a good idea to pull your credit reports, too.

Credit Scoring 52

Credit Scoring Credit Unions Credit Card Companies Credit Application 52

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

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

Your Virtual Credit Manager

MARCH 19, 2024

To do this you may want to order an updated credit report as well as recontact any suppliers they provided as a credit reference on their credit application. Derogatory Information: You should be monitoring the creditworthiness of the customers in your AR portfolio.

Bulk Transfer 100

Bulk Transfer Credit and Collections Bankruptcy Third Party Collections 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

Due

JANUARY 3, 2023

As a result, credit reports are crucial for decisions about lending money in the form of credit cards, auto loans, or mortgages. You may also receive different interest rates based on the information on your credit reports. There are dozens of places where you can obtain your credit report. Credit Accounts.

Credit Scoring 119

Credit Scoring Bankruptcy Credit and Collections Credit Reporting Agencies 119