Onguard

JULY 25, 2024

2 Three main challenges to technology in credit management Although new technologies -such as AI, RPA and blockchain- are on the rise within the finance department, implementation does not always go smoothly: 28% of finance professionals state that their team lacks the skills and/or knowledge to implement the technology.

Credit Management 52

Credit Management DSO Days Sales Outstanding Credit and Collections 52

Your Virtual Credit Manager

JUNE 11, 2024

My first exposure to the power of accounts receivable (AR) automation came in 1990 when I was credit manager at ERICO Fasteners, a mid-market, specialty metals manufacturer. During the 10 years I’d been in business credit, I had never seen anything like it. Our problems, however, were systemic.

AR Automation 130

AR Automation DSO Collector Accounts Receivable (AR) 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

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. This may seem like pretty standard stuff, but if you are not tracking DSO on a monthly basis, you may not notice the trends. Do you need help managing credit and collections?

Bad Debt 130

Bad Debt Credit and Collections DSO Days Sales Outstanding 130

Your Virtual Credit Manager

MAY 14, 2024

To continue reading and learn the daily, weekly and monthly AR metrics you should be tracking, you’ll need a paid subscriber to Your Virtual Credit Manager …our standard subscription is only $5 per month or $49 annually. Learn More About Credit Reports Please share this newsletter with your small business customers.

AR Metrics 130

AR Metrics DSO Credit and Collections Accounts Receivable (AR) 130

Your Virtual Credit Manager

SEPTEMBER 10, 2024

Consequently, Days Sales Outstanding (DSO) increased by almost 50 percent with customer delinquency deteriorating so much that this supplier’s borrowing capacity under its asset-based credit facility was severely restricted. Poor credit approval and collection practices can single-handedly wreck DSO.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

TreviPay

MARCH 20, 2023

Credit management is integral to accounts receivable management. Good credit management supports consistent cash flow, smooth payment collections, customer satisfaction, and much else. It covers multiple different smaller components involved in issuing, monitoring, and collecting credit.

B2B Credit 52

B2B Credit Credit Management Credit and Collections Days Sales Outstanding 52

Onguard

OCTOBER 31, 2023

Credit management, a term often associated with the finance department, turns out to be a dynamic process involving several departments within an organisation. Think sales, marketing, customer success and IT. Let’s face it, manual credit checks and invoice processing can be time-consuming and error-prone.

Credit Management 52

Credit Management Days Sales Outstanding Credit and Collections DSO 52

Your Virtual Credit Manager

DECEMBER 19, 2023

As part of that budget, you have likely made some accommodation for your accounts receivable (AR), probably in the form of a Days Sales Outstanding (DSO) objective based on past performance. Hopefully, that is why you are reading Your Virtual Credit Manager.

DSO 130

DSO Third Party Collections Credit and Collections Deductions 130

Your Virtual Credit Manager

FEBRUARY 21, 2023

Subscribe now Days Sales Outstanding (DSO) From a credit perspective, DSO isn’t our favorite metric, but it is a standard used by accounting and finance professionals to reflect receivables turnover. The problem with DSO is that AR performance can be improving at the same time DSO is rising.

DSO 130

DSO Credit and Collections Collection Effectiveness Index Bad Debt 130

Gaviti

JUNE 25, 2024

Forecasting Accounts Receivable Collections Using DSO The easiest and most accurate way to forecast your accounts receivable is using days sales outstanding (DSO). Here are the steps to calculate an accounts payable projection using DSO. Credit Management and Monitoring.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Deductions 52

Your Virtual Credit Manager

JULY 11, 2023

This article focuses on one widely used metric, Days Sales Outstanding (DSO) and the best ways to understand it. Subscribe now Understanding DSO DSO, (along with an Aging Analysis of the unpaid AR), is the most popular metric used to gauge AR management performance. Keep it simple and consistent.

Best Possible DSO (BPDSO) 100

Best Possible DSO (BPDSO) DSO AR Metrics Credit and Collections 100

Your Virtual Credit Manager

AUGUST 29, 2023

As you review your metrics, here are five signs that there may be a problem with your collection practices: DSO Is Rising: Days Sales Outstanding is the most common metric for measuring accounts receivable (AR) performance. If DSO is rising, you are falling behind.

DSO 130

DSO Credit and Collections Bad Debt Collection Effectiveness Index 130

Your Virtual Credit Manager

JANUARY 17, 2023

The sales team learned very quickly that eliminating the friction from the billing and payment processes facilitated earlier customer payments, hence larger commissions. The bottom line was a 13 percent reduction in Days Sales Outstanding (DSO) over a 6 month period in conjunction with invoice accuracy rising above 90 percent.

Credit and Collections 246

Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

Your Virtual Credit Manager

JULY 25, 2023

Here are the KPIs you will need at a minimum: Days Sales Outstanding (DSO) - This metric tells you how fast you are converting your sales into cash. It is best understood in relation to Best Possible DSO (BPDSO) which is essentially what your DSO would be if every customer paid on time.

Best Possible DSO (BPDSO) 130

Best Possible DSO (BPDSO) DSO Cash Forecasting Credit and Collections 130

Your Virtual Credit Manager

JANUARY 30, 2024

The experts at Your Virtual Credit Manager are ready to help you improve cash flow and reduce AR risks during these challenging times. More About Purchasing Credit Reports Over time, insights gained from this approach can inform risk assessments for new accounts, which you can use to refine your credit risk parameters.

Credit and Collections 130

Credit and Collections Collector Accounts Receivable (AR) AR Automation 130

Onguard

MAY 27, 2024

Download de fintech baropaper Getting an invoice paid still takes longer than thirty days As many as half of organisations (47%) currently have an average Days Sales Outstanding (DSO) of more than thirty days. Another 12% of companies even have to wait more than 40 days on average for invoices to be paid.

DSO 52

DSO Days Sales Outstanding Credit Management 52

Your Virtual Credit Manager

DECEMBER 12, 2023

Consequently, cash flow decreased while Days Sales Outstanding (DSO) and Past Due Receivables skyrocketed. When the renewals were finally secured, all of the prior time and material invoices were credited, and new invoices were generated for the service contracts. The customers, however, did not pay the invoices.

Days Sales Outstanding 130

Days Sales Outstanding DSO Credit Management Small Businesses 130

Your Virtual Credit Manager

DECEMBER 6, 2022

Even worse, the company’s stock price was depressed because of the company’s high Days Sales Outstanding (DSO) , a common measure of AR management effectiveness. The benefits from the company’s improvement in its receivables management is illustrated in the following chart. Cash is king.

DSO 130

DSO Credit and Collections Bad Debt AR Aging 130

Emagia

NOVEMBER 21, 2023

How can AI help decrease DSO (Days Sales Outstanding)? Reducing Days Sales Outstanding (DSO) is a perpetual challenge, and AI emerges as a strategic ally in this pursuit. AI can help decrease DSO by improving collections and credit management processes.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections B2B Credit 52

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). . Learn More.

AR Automation 91

AR Automation Bad Debt DSO Accounts Receivable (AR) 91

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. Your financial staff has rates of high turnover. You want to simplify a complex process that involves multiple stakeholders.

Days Sales Outstanding 75

Days Sales Outstanding Invoice Collections Credit and Collections DSO 75

Gaviti

AUGUST 29, 2024

However, the simplest option for forecasting account receivable is by using DSO (days sales outstanding): Accounts Receivable Forecast = DSO x (Sales Forecast ÷ Days in Forecast) Where DSO = average accounts receivable ÷ (annual revenue ÷ 365) You should also note the days in the forecast refers to the time period used for the projection.

DSO 52

DSO Days Sales Outstanding Credit and Collections Deductions 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. Simplify customer payment by offering multiple types of payment, including credit cards, debit cards, ACH transfers , electronic wallets, and more.

DSO 52

DSO AR Automation Credit and Collections Bad Debt 52

Collenda

JULY 19, 2023

Aryza Dunning provides specialised functionality through robust features and tools tailored to the unique requirements of credit management. Automated reminders and sequential workflows minimise manual effort, accelerating the credit management cycle, while customisable templates for emails or letters enable personalised communication.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Credit Management 52

Your Virtual Credit Manager

APRIL 2, 2024

To continue reading and learn the value of using commercial credit scores to rank the customers in your AR portfolio, as well as six ways to leverage customer rankings, you need to be a paid subscriber to Your Virtual Credit Manager.

Credit Scoring 130

Credit Scoring Credit and Collections Bad Debt Credit Risk 130

Gaviti

APRIL 11, 2024

What are the average days sales outstanding? The most common is DSO. Get a holistic view of your A/R data that includes a combination of traditional metrics such as DSO, collections, customer risk, etc., Credit management and monitoring. How quickly are customers paying their invoices?

Bad Debt 98

Bad Debt Credit and Collections Collection Effectiveness Index DSO 98

Serrala

MARCH 14, 2024

Eliminating or reducing many of the problems caused by difficult manual payments processes, including low and slow conversion, high DSO, matching problems, a lack of visibility, time and money wasted chasing payments. And creating better experiences for customers.

Days Sales Outstanding 52

Days Sales Outstanding DSO Credit and Collections Default 52

Collenda

MARCH 25, 2022

Receivables Management: “Find your cash leaks!”. A large number of adjusting screws in receivables management have an influence on working capital and DSO. Geert Corbeel , Collenda’s Senior Sales Executive in Belgium, has many years of experience in this terrain. Get in contact with Geert Corbeel on LinkedIn.

DSO 52

DSO Days Sales Outstanding Credit and Collections Default 52

Emagia

FEBRUARY 5, 2023

Credit Management The starting point in the AR process is credit check, though that is part of broader OTC process. Having few customers with bad creditworthiness and track record or history on board can disrupt the entire AR management and cash flow of a company.

AR Automation 52

AR Automation Days Sales Outstanding DSO Credit and Collections 52

Gaviti

MARCH 3, 2024

This helps to speed up the entire invoice-to-cash cycle, reducing Days Sales Outstanding (DSO) and improving cash flow. Download the Ebook How Gaviti Automates the Account Receivables Process By automating the A/R process with Gaviti, businesses have been able to reduce their DSO by 30% – 50% in less than 6 months.

DSO 52

DSO Credit and Collections Days Sales Outstanding Cash Applicator 52

TreviPay

JANUARY 31, 2023

In-house trade credit management – a costly distraction and unnecessary risk Managing your in-house trade credit program may once have seemed like a good idea – but much has changed: costs and complexity have spiraled. The post Managing Your In-House Trade Credit Program appeared first on TreviPay.

DSO 52

DSO Days Sales Outstanding Credit Scoring Credit and Collections 52

Your Virtual Credit Manager

NOVEMBER 1, 2022

It is most effective when the Escalation Protocols are agreed to by management and explained to all customer-facing personnel. Your Virtual Credit Manager now offers reasonably priced business credit reports through Accredit, a leading reseller of credit bureau reports.

Credit and Collections 130

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

Know-It Global

APRIL 13, 2023

This is why it’s crucial that businesses get a firm grip of their cashflow, and one of the most effective ways to maximise your cashflow is by reducing your debtor days. What are debtor days? Debtor days, or as some call days sales outstanding (DSO), is a measure of how long it takes for a company to collect payment from its customers.

Credit and Collections 97

Credit and Collections Days Sales Outstanding Credit Scoring DSO 97

Your Virtual Credit Manager

APRIL 11, 2023

To avoid these types of events you need to establish credit limits based on a customer’s creditworthiness, set parameters for approving orders for all customers both new and old, and then stick to the boundaries you have determined. There are multiple costs and vulnerabilities that emerge. An under performing AR.

Bad Debt 130

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

apruve

JULY 25, 2022

These platforms digitalize workflows and automate repetitive and time-consuming tasks, allowing A/R teams to manage a growing customer base more efficiently while reducing Days Sales Outstanding (DSO). What Sets Esker Apart. Integrates and automates procure-to-pay and order-to-cash processes.

DSO 52

DSO Credit and Collections Order to Cash Days Sales Outstanding 52

Gaviti

DECEMBER 5, 2023

It can also advise you of at which point in the customer lifecycle you should put these credit limits in place. With Gaviti’s A/R invoice-to-cash management solution , customers have successfully reduced their average days delinquent (ADD) by 34%, decreasing their late receivables by 9% year over year (YoY).

Average Days Delinquent 52

Average Days Delinquent Collection Effectiveness Index Credit and Collections Days Sales Outstanding 52