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How can you enhance your business’ credit management function?

Credit Management Group UK

Having an effective credit management function is vital to any business in maintaining and improving cash flow, as well as reducing a business’ risk to bad debt. Sales and credit control in particular should work closely together as these are the two-main customer facing roles. appeared first on Credit Management Group UK.

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Things to Keep in Mind for Positive Cash Flow in Recruitment

Credit Management Group UK

Issues for cash flow in recruitment SMEs within the UK are owed billions in late payments; this is an issue that is affecting all industries, in businesses of all sizes and is likely to continue for as long as businesses continue to provide credit.

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AI and Global Business Services: Breaking Down the Shared Service Silos

Emagia

Success with AI requires a clear understanding of its capabilities and how to strategically implement it to meet credit management objectives. Data integrity is key, particularly in credit management. “With AI, the future of credit has never been so important.” ” FAQs: What is Upskilling?

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Forecasting Collections – A Key Element of Your Cash Flow

Your Virtual Credit Manager

You will also need to account for a certain level of disputed invoices. Disputes will delay their payment for weeks or months. Again, previous customer dispute patterns will help inform any adjustments you make for disputes. More About Purchasing Credit Reports

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Eliminate These Four Barriers to Payment

Your Virtual Credit Manager

For more on Invoice Accuracy, including metrics on the impact of invoice errors on slow payments, check out these previous YVCM installments: Your Virtual Credit Manager Are Your Invoices Delaying Customer Payments? Price discrepancies are the leading cause of invoice disputes. Buy Credit Reports 4.

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Tips for Dispute Resolution in Business

Credit Management Group UK

Produce – Deliver – Invoice are the stages of the Order to Cash in which you will manage your invoice disputes, how quickly you resolve these disputes greatly impacts how quickly you are paid. What can be disputed?

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What Triggers Your Collection Efforts?

Your Virtual Credit Manager

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.