Onguard

MAY 24, 2023

Therefore, leveraging dynamic data, such as fraud analysis, trade payment data, CCJ or legal information, is necessary to reduce risks. These live data can be easily integrated into accounting or CRM platforms and help identify risk areas in terms of bad debtors. The risk of fraud Fraud can cause major problems for businesses.

Credit Risk 52

Credit Risk Credit Management Order to Cash Transactions 52

Onguard

MAY 24, 2023

Therefore, leveraging dynamic data, such as fraud analysis, trade payment data, CCJ or legal information, is necessary to reduce risks. These live data can be easily integrated into accounting or CRM platforms and help identify risk areas in terms of bad debtors. The risk of fraud Fraud can cause major problems for businesses.

Credit Risk 52

Credit Risk Credit Management Order to Cash Transactions 52

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

Abrigo

MAY 27, 2022

What Makes a Successful Credit Manager Focusing on these traits can only help you become a better credit manager at your financial institution. 5 Traits of the Ideal Credit Manager. Below are five traits integral to being a successful credit manager. Credit Analysis Training.

Credit Management 78

Credit Management Credit Risk 78

Know-It Global

APRIL 26, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Credit Risk 98

Credit Risk Bad Debt Credit and Collections Default 98

Credit Management Group UK

MARCH 15, 2023

Within my 30 years’ experience in the credit management profession, I have seen many mistakes made in B2B credit management; these mistakes, if not rectified, run the risk of negatively impacting cash flow and customer relationships. The post Are you making these four B2B credit management mistakes?

B2B Credit 93

B2B Credit Credit Management Credit Risk 93

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.

Chapter 11 130

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

Emagia

NOVEMBER 16, 2022

The common business risks include credit risk which mainly refers to the risk of the borrowers failing to repay credit or loan that has been extended to them, customers failing to pay the invoices raised against the supply of goods or services, or vendors failing to supply goods or services after having been paid in time.

Credit Risk 59

Credit Risk Credit and Collections Default Credit Management 59

Emagia

JUNE 12, 2023

Credit risk management plays a critical role in the financial health and stability of businesses across industries. It involves identifying, assessing, and mitigating the potential risks associated with extending credit to customers or counterparties. What is Credit Risk Management?

Credit Risk 52

Credit Risk Credit and Collections Bad Debt Default 52

Credit Management Group UK

MARCH 7, 2023

Some of the most common credit management issues are relatively easy to overcome; here I detail the top five issues, and how they can be resolved. The post The Top Five Credit Management Issues and How to Resolve Them appeared first on Credit Management Group UK.

Credit Management 104

Credit Management Credit and Collections Credit Risk 104

Gaviti

MAY 9, 2023

We are thrilled to announce the launch of our latest addition to the Gaviti accounts receivable collections platform: the Credit Management Module! At Gaviti, we understand how crucial it is for you to maintain a healthy cash flow, minimize credit risk, and ensure timely payments from your customers.

Credit and Collections 98

Credit and Collections Credit Management Dashboards Payment Portals 98

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.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

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 50

Credit Management Bad Debt Credit and Collections Credit Application 50

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

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Know-It Global

MAY 8, 2023

As a business owner, it’s essential to understand and manage credit risk to maintain a healthy cash flow and avoid financial losses. Credit risk is the potential for a borrower to fail to repay a loan or credit extended to them. The good news is you can avoid these issues. Did you know?

Credit Risk 52

Credit Risk Bad Debt Credit and Collections Default 52

Your Virtual Credit Manager

APRIL 2, 2024

Despite these shortcomings, commercial credit scores can be valuable tools for a company offering trade credit to other businesses. Scores provide valuable insights into the creditworthiness of business customers and help companies make informed decisions regarding trade credit extension, terms, and risk management strategies.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Your Virtual Credit Manager

FEBRUARY 27, 2024

In order for that to happen, everybody needs to be aligned in regard to sales and credit in general and the objectives of the order-to-cash process (O2C) in particular. The experts at Your Virtual Credit Manager can help you bring in the cash. Are there past due accounts you are trying to collect?

Accounts Receivable (AR) 130

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

Gaviti

MAY 9, 2023

We are thrilled to announce the launch of our latest addition to the Gaviti accounts receivable collections platform: the Credit Management Module! At Gaviti, we understand how crucial it is for you to maintain a healthy cash flow, minimize credit risk, and ensure timely payments from your customers.

Credit and Collections 52

Credit and Collections Credit Management Dashboards Payment Portals 52

Credit Management Group UK

MAY 6, 2024

Due diligence Carrying out due diligence on current and prospective customers can help in identifying those customers that pose more risk to your business. Credit risk reporting can highlight anything untoward with regards to a company’s credit risk, for example any CCJs.

Credit and Collections 83

Credit and Collections Credit Risk Order to Cash Credit Management 83

Your Virtual Credit Manager

JANUARY 23, 2024

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. Consequently, the credit manager was able to purchase credit insurance on his customer, and was therefore able to continue approving credit sales, within limits, to the chain store customer.

Credit Application 130

Credit Application Bad Debt Bankruptcy Credit Scoring 130

Your Virtual Credit Manager

MAY 7, 2024

Increased Costs: Managing payment disputes and chasing overdue payments incurs additional costs in terms of time, resources, and potentially legal fees should the dispute escalate. This can limit a supplier's capacity to extend credit to other customers. our standard subscription is only $5 per month.

Credit and Collections 130

Credit and Collections Credit Risk Credit Management Order to Cash 130

Your Virtual Credit Manager

FEBRUARY 6, 2024

Continue reading to learn about seven AR pitfalls that you should avoid, including: Relying on Outdated Information Creating an Imbalance Between Risks and Rewards Failing to Prioritize Effectively Relying on Band Aids Instead of Addressing Root Causes Seven AR Pitfalls 1. More About Purchasing Credit Reports 5.

Credit and Collections 130

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

Your Virtual Credit Manager

OCTOBER 29, 2024

It informs the customer of an unsatisfactory situation and a call to action to rectify it. Your Virtual Credit Manager is a reader-supported publication. Webinar Registration Do you need help assessing your customers’ credit risks? Until it is paid, no new orders will be shipped.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

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. Here’s more information on Credit Evaluations.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

AUGUST 6, 2024

Aggregate Credit Risk and Seamless Trading An important goal for your business is to trade seamlessly with your customers; that is to fulfill their orders completely, accurately and QUICKLY. This will determine how much credit risk you can bear and how tight your credit controls need to be. ” The Bottom Line.

Bad Debt 100

Bad Debt Credit and Collections Accounts Receivable (AR) Credit Risk 100

Your Virtual Credit Manager

DECEMBER 5, 2023

Share Differentiating Your Customers The two most important customer account characteristics that will foreshadow the Collection Strategy you should pursue are: The size of their AR balance Their credit risk profile As a rule, customers that owe you larger amounts of past due AR should receive more and earlier attention than customers who owe less.

Credit and Collections 130

Credit and Collections Third Party Collections Accounts Receivable (AR) Credit Risk 130

Your Virtual Credit Manager

AUGUST 27, 2024

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. Regulatory and compliance risks have surged with the Gramm-Leach-Bliley and Dodd-Frank acts. Do you need help assessing customer credit risks?

Accounts Receivable (AR) 100

Accounts Receivable (AR) Credit and Collections Default Cybersecurity 100

Your Virtual Credit Manager

FEBRUARY 13, 2024

Clearly, the level of Business Credit Risk is going to remain elevated as we move through 2024, bringing with it the potential for corresponding increases in bad debt and delinquency. It will also help your prioritize your credit reviews as recommended in item #1. Here’s more on setting credit limits.

Bankruptcy 130

Bankruptcy Credit and Collections Bad Debt Accounts Receivable (AR) 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? Is all necessary information easily accessible, or is it difficult to locate?

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

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

NOVEMBER 12, 2023

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. Takeaway 2 Capital, performance, and administrative covenants are common with business loans.

Credit Risk 88

Credit Risk Credit Unions Default CECL 88

Credit Management Group UK

SEPTEMBER 26, 2023

Every company should credit check their potential customers prior to carrying out work with them; or at least credit check ones with higher value orders. There are specific things that you should look out for on a credit risk report that should give you an effective overview of your customer’s credit risk.

Credit Scoring 91

Credit Scoring Bad Debt Credit Risk Credit Management 91

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 69

Order to Cash Credit and Collections Credit Management Credit Application 69

MNS Credit Management Group

AUGUST 7, 2023

Credit scores can also affect a company’s ability to sign a lease or purchase products on credit from suppliers. “ One of India’s primary credit risk assessment bureaus that rates enterprises is MNS Credit Management Group” What Factors Influence A Company’S Credit Score?

Credit Scoring 52

Credit Scoring Credit Risk Credit and Collections Bad Debt 52

Your Virtual Credit Manager

OCTOBER 31, 2023

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. The new customers you take on should exhibit an acceptable level of risk, but this can change over time. What do you need help doing? There are a lot of reasons business fail.

Bad Debt 130

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

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