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

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

Gaviti

SEPTEMBER 7, 2023

Days sale outstanding is one of the most widely used criteria for judging the effectiveness of your accounts receivable strategy. Most business managers use the standard DSO when running the calculations, but it is also possible to calculate the best DSO. What Is ‘Standard’ DSO?

DSO 52

DSO Days Sales Outstanding Past Due Invoices Credit and Collections 52

Your Virtual Credit Manager

NOVEMBER 1, 2022

Simply defined, collections is the process of contacting customers to secure payment for your invoices. For the most part collections deals with past due invoices — those not paid within established terms. Automation of the routine emails to the majority of your customers can be achieved easily in a number of ways.

Credit and Collections 130

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

Emagia

JUNE 19, 2023

Timesheet Invoice Businesses use timesheet invoices to record the labor costs associated with specific clients in order to facilitate the billing process for those clients. Past-due Invoice Businesses use past-due invoices if customers do not pay their balance on time.

AR Automation 52

AR Automation Past Due Invoices Accounts Receivable (AR) Days Sales Outstanding 52