Abrigo

JULY 22, 2016

Many banks and credit unions have adopted sophisticated risk-management practices, and their board of directors has to play an active role in ensuring that risks are well understood in overseeing risk exposure. Credit risk remains the most important risk that banks and credit unions have to monitor.

Credit Risk 60

Credit Risk Credit Unions Default Transactions 60

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. Loan agreements also include provisions describing financial default and technical default.

Credit Risk 88

Credit Risk Credit Unions Default CECL 88

Your Virtual Credit Manager

MAY 2, 2023

A critical part of this exercise involves identifying active and new customers posing high, or even just marginal, credit risks. The good news is, if the credit risk presented by a business customer is too high, there are financial tools that can be used to mitigate the risk but still grant the customer credit.

Bankruptcy 100

Bankruptcy Credit and Collections Accounts Receivable (AR) Default 100

Your Virtual Credit Manager

SEPTEMBER 17, 2024

They understood the dynamics that affected their customers and marketplace, as well as the credit controls needed to keep credit risk in check in this environment. They also kept very good records on their customers and their purchases, so there were no issues with transactional visibility.

Credit and Collections 100

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

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. An Irrevocable Letter of Credit (LC) confirmed by a solid bank, with your firm named as the beneficiary.

Credit and Collections 130

Credit and Collections Default Bad Debt Credit Risk 130

Your Virtual Credit Manager

DECEMBER 27, 2022

Cash flow is the biggest cause of customers defaults, but often cash flow is a result of other financial problems or miscues. A customer can be paying you with no problems, but then their bank line of credit comes up for review and is drastically cut back by the bank. Email YVCM About Consulting And Credit Scores.

Credit Scoring 130

Credit Scoring Credit and Collections Accounts Receivable (AR) Credit Application 130

Your Virtual Credit Manager

FEBRUARY 28, 2023

It will reduce your Accounts Receivable (AR) balance and the associated elevated credit risk inherent in a larger AR. Getting customers to pay now rather than later reduces the risk of a default down the road. Invoices need to be generated and transmitted the same day as the transaction or at latest the morning following.

Bad Debt 130

Bad Debt Accounts Receivable (AR) Credit Risk Bankruptcy 130

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 Get a free business credit report! Get My Free Business Credit Report 1.3

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19

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. Do you need help assessing your customers’ credit risks?

Credit and Collections 130

Credit and Collections DSO Deductions Accounts Receivable (AR) 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. Click here for more details about working with Collection Agencies.

Past Due Invoices 130

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

Abrigo

MARCH 13, 2024

Consequently, all stakeholders of CRE assets are understandably nervous, including bankers and their investors who, due to the highly leveraged nature of CRE transactions, provided the bulk of capital financing the industry. Bring together the deal team, credit approvers, and workout experts to discuss and determine the grade and next steps.

Credit Unions 88

Credit Unions CECL Default Credit Risk 88

Abrigo

MAY 18, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." How broad a field does loan review need to plow to unearth potential credit risks and assess overall credit quality? Scope in loan reviewing What is the scope of an adequate loan review?

Credit Risk 78

Credit Risk Credit and Collections Default Credit Scoring 78

Your Virtual Credit Manager

AUGUST 6, 2024

The questions you must answer: How much open credit should I extend to a customer to maintain risk within acceptable levels? And when the risk does not warrant open credit terms ; How can we structure the transaction to ensure a profitable sale? Too often, extending credit is viewed as a yes or no function.

Bad Debt 100

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

Abrigo

MAY 19, 2023

You might also like this webinar, "Return to basics: Asking the right credit risk questions." Introduction A few good men and women In previous articles, we have explored the objectives of a loan review and credit risk review system in general.

Credit Risk 78

Credit Risk Credit Unions Revenue Recognition Default 78

Abrigo

FEBRUARY 23, 2022

“Used to the simplicity and speed of services such as Uber, Spotify, and Amazon, principals, and decision-makers of banks’ commercial borrowers have long sought similar levels of convenience when conducting borrowing transactions,” noted the author. Lending & Credit Risk. Lending & Credit Risk. Learn More.

Small Businesses 78

Small Businesses Credit Unions Credit Risk CECL 78

Abrigo

MAY 2, 2024

This includes defining the threshold for material loans or transactions and structuring the lending process accordingly. Loan Portfolio Building: By understanding the loan policy, lenders can align their efforts with the institution's goals for building a high-quality loan portfolio.

Small Businesses 88

Small Businesses Credit Risk Credit Unions CECL 88

Abrigo

FEBRUARY 7, 2023

Because conditional waivers only go into effect when the transaction occurs, the payer and payee are protected. Manage risk & avoid defaults. The best way for construction lenders to avoid liens being placed on loans in their portfolio is to require a conditional waiver on every draw.

Credit Unions 78

Credit Unions Credit Risk Default Transactions 78

Your Virtual Credit Manager

MAY 16, 2023

Subscribe now Nine Credit Traps to Avoid Like anything else, you do not want your credit decisions biased by common fallacies or misplaced trust and perceptions. Credit evaluations prevent more bad debts than collection efforts. There is no harm in denying credit when it cannot be justified. That’s the bottom line.

Bad Debt 100

Bad Debt Credit and Collections Default Small Businesses 100

Your Virtual Credit Manager

JUNE 27, 2023

Share The High-Risk Account: Ideally you do not want to extend credit to high risk accounts. This persona may exhibit characteristics such as a history of defaults, financial instability, industry volatility, or a poor credit rating. Please feel free to share this newsletter with your small business customers.

Collector 26

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

Fundera

MARCH 6, 2019

Accrual basis accounting is the most common approach used by larger businesses to record and maintain financial transactions. A method of accounting that involves the timely recording of all financial transactions for the business. Credit Limit. Wages and payroll taxes are common examples. Bookkeeping. Financial Statements.

Credit Scoring 105

Credit Scoring Credit and Collections Bankruptcy Small Businesses 105

Fundera

FEBRUARY 6, 2018

Accrual basis accounting is the most common approach used by larger businesses to record and maintain financial transactions. A method of accounting that involves the timely recording of all financial transactions for the business. Credit Limit. Wages and payroll taxes are common examples. Bookkeeping. Financial Statements.

Small Businesses 105

Small Businesses Credit Scoring Credit and Collections Bankruptcy 105

MNS Credit Management Group

AUGUST 7, 2023

However, there is always the possibility of loan default. Lenders are picky about whose businesses they give credit to. A company that does not have a sufficient corporate credit score may struggle to obtain crucial loans. What is a company credit score? Business Credit Scores Are Determined By A Number Of Things.

Credit Scoring 52

Credit Scoring Credit Risk Credit and Collections Bad Debt 52

FICO Blog

DECEMBER 8, 2022

Leveraging FICO Resilience Index to refine credit risk management decisions during benign economic phases defends against dramatic swings in delinquency rates and provides for a more consistent portfolio risk management approach over time. Of course, credit risk management is only one aspect of portfolio health.

Default 52

Default Credit and Collections Credit Risk Transactions 52

TreviPay

JANUARY 16, 2023

This growth has increased B2B (business-to-business) transactions, as manufacturers and suppliers work together to produce and distribute these products. However, offering credit and payment on terms also comes with risks, such as credit risk, payment defaults, and fraud.

Default 59

Default Credit Risk Transactions 59

Fundera

SEPTEMBER 18, 2018

When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. There are five notable components of a personal credit score. 13 Lesser-Known Factors That Can Affect You Credit Score.

Credit Scoring 93

Credit Scoring Small Businesses Credit and Collections Collector 93

tillful

FEBRUARY 28, 2023

Like most business credit scores, the SBSS helps lenders and service providers understand the level of credit risk that businesses present. However, unlike most, FICO pulls financial data from the other major credit bureaus—collecting both personal and business credit history data under their business credit score.

Credit Scoring 98

Credit Scoring Credit and Collections Small Businesses Bankruptcy 98

Serrala

MARCH 14, 2024

And to scale faster as transaction volumes increase due to M&A activity. Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust. Your teams can securely review transaction information and perform needed actions on the spot.

Credit and Collections 52

Credit and Collections Bad Debt Default Credit Risk 52

Serrala

MARCH 14, 2024

And to scale faster as transaction volumes increase due to M&A activity. Read more Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve trust. Your teams can securely review transaction information and perform needed actions on the spot.

Credit and Collections 52

Credit and Collections Bad Debt Default Credit Risk 52

TreviPay

SEPTEMBER 18, 2024

Trade credit insurance has become a vital tool for businesses looking to protect themselves from the risk of non-payment by customers. This type of insurance acts as a safety net, covering unpaid invoices when clients default or face financial difficulties. How Does Trade Credit Insurance Work?

Bad Debt 52

Bad Debt Default Credit and Collections Export Credit 52

Fundera

APRIL 5, 2017

And if your business has customer lists, it’s wise to withhold the actual customer list until after the transaction is complete. The most important thing in any transaction is to take control of the process so that you are the one ‘driving the bus’ and setting the pace and tone of diligence, negotiations, on-site meetings, etc.

Bankruptcy 75

Bankruptcy Law Firms Transactions Default 75

Serrala

AUGUST 29, 2022

The below will guide you through a few easy steps to identify if your credit landscape is due an upgrade. Credit Risk Management Software for Effective Credit Control Proactive credit risk management is a must to support a healthy business strategy.

Credit and Collections 52

Credit and Collections Credit Risk Dashboards Credit Scoring 52

Fundera

DECEMBER 12, 2018

This counter-party risk has two components: default risk, where the buyer simply chooses not to perform as agreed in the buyout agreement, and credit risk or bankruptcy risk, where the buyer is unable to perform due to insolvency or bankruptcy.”. Thompson, CPA and attorney. Make Sure You’re The One Driving.

Bankruptcy 75

Bankruptcy Law Firms Transactions Default 75

Serrala

MARCH 14, 2024

Optimizing the Order-to-Cash cycle: Accounts receivable teams trust Serrala Radically simplify even the most complex transactions, automate invoice posting, get paid quicker and with full visibility and compliance across your entire customer ecosystem. Bild What can our AR solutions do for you?

Credit and Collections 52

Credit and Collections DSO Days Sales Outstanding Invoice to Cash 52

Biz2X

NOVEMBER 3, 2023

By automating routine queries and transactions, banks can redirect human resources toward more complex, value-added tasks, elevating both operational efficiency and customer satisfaction. Credit risk assessment, another critical facet of banking, stands to benefit significantly from AI automation.

Default 52

Default Transactions Credit Risk 52

Biz2X

NOVEMBER 3, 2023

By automating routine queries and transactions, banks can redirect human resources toward more complex, value-added tasks, elevating both operational efficiency and customer satisfaction. Credit risk assessment, another critical facet of banking, stands to benefit significantly from AI automation.

Default 52

Default Transactions Credit Risk 52

Serrala

MARCH 14, 2024

With our AI-powered cash application, collections and disputes, credit risk management, and Bill Pay solutions, your company can achieve high AR automation and payment matching rates of up to 99%. Read more Our solutions give you the power to automate processes across your credit risk management lifecycle.

Credit and Collections 52

Credit and Collections Bad Debt Credit Risk AR Automation 52

Abrigo

SEPTEMBER 11, 2023

This marked the advent of the platform economies with excellent digital experiences through fintech providers. After digital access and transactions came major boosts to automation for financial services. But the real lifestyle upgrade came when you had fintechs like Xoom and PayPal that made payments happen in near real-time.

Credit Unions 78

Credit Unions CECL Default Transactions 78