Your Virtual Credit Manager

OCTOBER 29, 2024

On a phone call, you should provide a summary of the amount past due, such as “$10,000 over 30 days past due” or reference one or two large past due invoices (number, amount, and due date), but no more. The key issue is securing a commitment to pay the past due invoices.

Past Due Invoices 100

Past Due Invoices Credit and Collections Collector Default 100

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.

Past Due Invoices 130

Past Due Invoices Credit and Collections Credit Card Payments Default 130

Your Virtual Credit Manager

OCTOBER 2, 2024

Do you need help assessing your customers’ credit risks? The experts at Your Virtual Credit Manager have default risk probabilities and other financial benchmarks for analyzing your AR portfolio and revealing actionable insights. No seriously past due invoices and no “Clutter.”

Past Due Invoices 130

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

Your Virtual Credit Manager

JULY 2, 2024

Hopefully, that gets you past the emotions so you can have a rational discussion about getting paid Habitual debtors repeatedly default on promises and usually have a history of slow payment and defaults. These account provide a serious credit risk, and should not be approved for open credit terms.

Collector 130

Collector Debt Collections Past Due Invoices Credit and Collections 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

Your Virtual Credit Manager

SEPTEMBER 10, 2024

Pricing Problems: A supplier of medical devices implemented a new ERP system, but flaws in the pricing application caused it to frequently default to list price (nearly every accounts had exceptions), thereby generating hundreds of incorrect invoices. Customers refused to pay as billed, frequently demanding corrected invoices.

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 130

Your Virtual Credit Manager

JANUARY 21, 2025

Credit risk management also plays a huge role in the O2C process—a loose credit policy is likely to be accompanied by lagging customer payments and an increased risk of bad debts, while tighter credit controls can result in profit opportunities being missed. Do you need help improving cash flow?

Order to Cash 130

Order to Cash Credit and Collections Bad Debt Accounts Receivable (AR) 130