Your Virtual Credit Manager

OCTOBER 2, 2024

A common approach is to pledge a company’s AR as collateral to secure a loan whose funds are advanced shortly after you submit the necessary documentation confirming the AR’s creation, often an invoice and bill of lading. Your Virtual Credit Manager is a reader-supported publication.

Past Due Invoices 130

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

Your Virtual Credit Manager

NOVEMBER 14, 2023

Selling only to financially strong customers reduces the risk of bad debt loss, (and the cost of Credit and Collections activity required). Most companies, however, need incremental sales volume from higher-credit-risk customers to break even and achieve profitability. it just might help them pay you sooner!

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Emagia

OCTOBER 17, 2022

Enterprises digitally transform their credit risk management processes to manage and navigate volatile market conditions, new regulatory pressures, increasing customer expectations, and other credit risks related to customers and vendors. Robotic Process Automation (RPA). Artificial intelligence (AI).

Credit Risk 52

Credit Risk Credit Scoring Bankruptcy Credit and Collections 52

Your Virtual Credit Manager

OCTOBER 8, 2024

Poor Documentation If your business does not maintain complete and accurate documentation, it can significantly hinder the collection process. Collection agencies rely on supporting documents like contracts, invoices, remittance history, proof of delivery, and communication records to substantiate claims and negotiate payment.

Third Party Collections 100

Third Party Collections Credit and Collections Bankruptcy Bad Debt 100

Your Virtual Credit Manager

JANUARY 10, 2023

Photo by Patrick Hendry on Unsplash Although defaults resulting in significant bad debt losses are a rare event for trade creditors, much of the focus of AR Management is on credit risk. Banks make money by lending so they pay close attention to the credit risk of the borrower. Buy Credit Reports 4.

Credit and Collections 130

Credit and Collections Bad Debt Invoice Disputes Default 130

Your Virtual Credit Manager

FEBRUARY 28, 2023

Your Virtual Credit Manager (YVCM) previously published an article discussing the pros and cons of Prompt Payment Discounts. It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. If not paid by the discount date, the full amount is due in 30 days.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

Your Virtual Credit Manager

JUNE 13, 2023

Photo by Jamie Street on Unsplash There are two types of credit risk that arise from selling on open credit terms: Customers paying beyond terms (past due) reduce your cash flow. Sound Credit and Collection practices will help you navigate the impact of these risks. it just might help them pay you sooner!

Credit and Collections 26

Credit and Collections Bad Debt Default Credit Risk 26

Your Virtual Credit Manager

JANUARY 30, 2024

(Photo by Igor Omilaev on Unsplash ) Automated collections increases productivity by providing higher visibility into all things related to a customers AR (invoices, shipping documents, previous collection efforts, and so forth), thereby saving time and driving better decisions. What do you need help with?

Credit and Collections 130

Credit and Collections Collector Accounts Receivable (AR) Days Sales Outstanding 130

Your Virtual Credit Manager

JANUARY 3, 2023

Do not match unapplied credits with open deductions and debits unless there is documentation to relate them or you will be in violation of escheatment laws. Refresh the credit risk ratings and credit limits of customers that have not been updated within the past two years. Renew any expired sales contracts.

AR Automation 130

AR Automation Collector Credit and Collections Bad Debt 130

Your Virtual Credit Manager

SEPTEMBER 10, 2024

To continue reading and learn how to recognize O2C shortcomings along with seven critical factors for AR success you must be a paid subscriber to Your Virtual Credit Manager. Do you need help assessing your customers’ credit risks? Billing inaccuracies often result in delayed payments or deductions.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Lockstep

JUNE 15, 2022

For B2B businesses, credit management is essential for accounts receivable (AR) management success. Proper, healthy credit management allows for steady cash flow, better collections management and a manageable days sales outstanding (DSO). . External and Supporting Data .

AR Automation 91

AR Automation Bad Debt DSO Accounts Receivable (AR) 91

Abrigo

OCTOBER 5, 2022

The role of a construction loan administrator is to manage commercial and residential projects and lines of credit, manage the construction loan draw process, review and analyze project budgets, and recommend funding to the C-level officers within the bank. Lending & Credit Risk. Lending & Credit Risk.

Credit Risk 78

Credit Risk Credit Management 78

Your Virtual Credit Manager

JULY 2, 2024

These account provide a serious credit risk, and should not be approved for open credit terms. When an otherwise good customer because a habitual debtor, their credit limit should be revoked. Do you need help managing credit and collections? annualy, forever. that’s nearly a 30% discount!

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 130

SAP Credit Management

AUGUST 29, 2023

The calculation required the credit spread curve for the reference entity for either the counterparty or your own company. Based on Expected Exposures: In this method, CVA/DVA is calculated separately based on the expected exposures on a given date.

Transactions 162

Transactions Default Deductions Credit Risk 162

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

Abrigo

OCTOBER 28, 2022

Managing loan workouts and modifications Tips for preparing your bank or credit union to handle an increased volume of problem loans while ensuring prudent credit risk management. You might also like this video, "A look at credit risk in a rising-rate environment." CRE loan accommodations.

Credit Unions 78

Credit Unions Credit Risk CECL Credit Management 78

Know-It Global

JUNE 20, 2023

This guide provides a comprehensive overview of credit control practices and strategies that your business can implement to mitigate credit risk, reduce debtor days and boost cashflow! Setting Up Credit Control Processes 1.1 Regular Credit Reviews: Credit reports can change frequently.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

Your Virtual Credit Manager

SEPTEMBER 19, 2023

Raise Their Prices: When you have a high credit risk customer, you should be charging them the highest price possible. This will help compensate you for the high risk you bear and reduce the ultimate loss you may suffer. Your Virtual Credit Manager is currently offering 33% off our standard SMB consulting rate.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

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. Anything that happens before payment is received can impact a company’s ability to get paid.

Order to Cash 72

Order to Cash Credit and Collections Credit Management Credit Application 72

Your Virtual Credit Manager

APRIL 4, 2023

If there are a lot of these small items, generating separate lists of debit and credit balances by descending dollar amount will facilitate the matching process. Do not match unapplied credits with open deductions and debits unless there is documentation showing they are related.

Past Due Invoices 100

Past Due Invoices Credit and Collections Deductions Accounts Receivable (AR) 100

Your Virtual Credit Manager

JUNE 27, 2023

Readers of Your Virtual Credit Manager can access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit. More About Purchasing Credit Reports The Irregular Payer: Unpredictable and inconsistent payment patterns highlight this persona.

Collector 26

Collector Credit and Collections High-Risk Accounts Accounts Receivable (AR) 26

Your Virtual Credit Manager

DECEMBER 26, 2023

Subscribe now Learn to Recognize These Red Flags There are two types of credit risk affiliated with selling on open credit terms. Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner accredit.

Collector 130

Collector Credit and Collections Default Third Party Collections 130

Abrigo

MARCH 31, 2017

In its latest “Supervisory Insights” publication, the FDIC reiterated the importance of sound credit risk management practices in light of rapid growth in CRE portfolios at some institutions and in light of some institutions operating with a generally higher risk profile.

Credit Risk 74

Credit Risk Credit Management 74

Emagia

OCTOBER 31, 2022

Why should credit management be automated. How important is the automation of credit management for business growth. Autonomous finance eliminates efficiency bottlenecks in finance operations such as credit management, accounts receivables, accounts payables, cash flow, budgeting, F&PA, and other financial processes.

Credit and Collections 59

Credit and Collections Bad Debt Credit Management DSO 59

Emagia

JUNE 21, 2024

According to a Harvard Business Review study, 89% of large companies globally have initiated digital and AI transformations , yet they have only realized 31% of the expected revenue lift and 25% of anticipated cost savings across multiple domains, including credit management.

B2B Credit 40

B2B Credit Credit Application Digital Credit Application Credit Scoring 40

JSP Credit Management

SEPTEMBER 23, 2021

When JSP Credit Management was first incorporated, naturally a fair amount of preparatory work had already been done. Admittedly, unless you are involved in debt collection or credit management more widely, we do not expect this to be an edge of your seat read (or even if you are in the industry!). Marketing plan?”,

Debt Collections 52

Debt Collections Credit and Collections Bad Debt Credit Management 52

Gaviti

APRIL 18, 2024

It also helps provide documentation in the event that your company has bad debt that it is able to take as a tax deduction. Why Automation Is Key to an Effective Accounts Receivable Aging Report Automation is well-established as a functional tool for efficient accounts receivable management. Credit management and monitoring.

AR Aging 52

AR Aging Credit and Collections Bad Debt Allowance for Doubtful Accounts 52

Credit & Management Systems, Inc.

FEBRUARY 13, 2017

(CMS) is the leading developer of comprehensive system solutions for corporate and commercial credit management. CMS’s highly acclaimed Corporate Credit Manager (CCM) software system is the most powerful and widely used commercial credit scoring, financial analysis, risk management, and decision support system available.

Credit and Collections 40

Credit and Collections Credit Scoring Credit Application Credit Management 40

TreviPay

SEPTEMBER 18, 2024

By offering protection against non-payment, trade credit insurance helps businesses avoid financial strain, improve cash flow and maintain a stable credit management process. How Does Trade Credit Insurance Work? Benefits of Trade Credit Insurance There are many benefits to trade credit insurance.

Bad Debt 52

Bad Debt Default Credit and Collections Export Credit 52

Gaviti

DECEMBER 28, 2023

For example, the dunning process can be automatically adjusted to segment customers with a high level of credit risk, offering better payment terms and more flexibility to those with a better credit history. It also documents an audit trail of all disputes and deductions for any future analysis or audits.

Credit and Collections 52

Credit and Collections Invoice to Cash Deductions Collector 52

Gaviti

JUNE 25, 2024

Credit Management and Monitoring. Automatically manage customer credit from the credit application process through ongoing monitoring with real-time credit risk alerts. Want to learn more about how you can use Gaviti’s A/R management and automation to accurately forecast your accounts receivables?

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Deductions 52

Emagia

MAY 1, 2024

According to Schmidt, typical credit managers spend three and a half to four hours per day responding to emails. AI can take the burden of that for delivery, invoice, and document requests. Customer types can be summarized, with credit risks and trends fetched for each.

Order to Cash 52

Order to Cash Cash Forecasting Credit and Collections Shared Service Center 52

apruve

OCTOBER 5, 2022

Technology is revolutionizing business payments and trade credit management. If you’re a large business looking for better ways to manage trade credit , you might be wondering: How does trade credit work today? Fintech innovation makes it possible to automate all aspects of the trade credit process.

Credit and Collections 52

Credit and Collections Days Sales Outstanding Default DSO 52

Know-It Global

NOVEMBER 28, 2022

A sales ledger is the source document for the sales figure at the top of your income statement. Know-it works wonders for your business cashflow by automating the complete credit control process. We’ve streamlined credit management by breaking it down into three simple steps; Check-it, Chase-it and Collect-it!

Credit and Collections 52

Credit and Collections Credit Risk Credit Scoring Credit Management 52

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. The top line and bottom line will be positively impacted when a sales order is received and fulfilled, but your business is at risk till you collect cash against the invoice.

B2B Credit 52

B2B Credit Credit and Collections Credit Application Credit Management 52

Gaviti

APRIL 3, 2024

Document a process for how the company will deal with outstanding invoices. Documented internal escalation procedures should also include which levels of management and heads of departments (e.g. Carefully assess the payment history of the company and the risk it poses to your business.

DSO 52

DSO Days Sales Outstanding Credit and Collections Collection Effectiveness Index 52

Your Virtual Credit Manager

DECEMBER 20, 2022

Share Controlling Credit Risk Increasing sales to high margin customers disproportionately increases total gross profit. Readers of Your Virtual Credit Manager can now access sharply discounted business credit reports from D&B, Experian, or Equifax through our partner Accredit. Here’s how?

Deductions 130

Deductions Credit and Collections Bad Debt Credit Risk 130