Your Virtual Credit Manager

JANUARY 17, 2023

There was a lot of gnashing of teeth on the part of the sales team at the beginning, but invoice accuracy improved in each subsequent month as sales began transmitting accurate pricing and terms to order processing, thereby reducing downstream disputes and payment deductions. it just might help them pay you sooner!

Credit and Collections 246

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

Your Virtual Credit Manager

OCTOBER 2, 2024

The experts at Your Virtual Credit Manager have default risk probabilities and other financial benchmarks for analyzing your AR portfolio and revealing actionable insights. If you charged shipping costs, but your agreement is to bill a “delivered” price, the customer will deduct the freight from the face amount of the invoice.

Past Due Invoices 130

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

APRIL 25, 2023

There was a lot of gnashing of teeth on the part of the sales team at the beginning, but invoice accuracy improved in each subsequent month as the sales began transmitting accurate pricing and terms to order processing, thereby reducing downstream disputes and payment deductions.

Credit and Collections 130

Credit and Collections Past Due Invoices Collector Deductions 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

The other policy conditions (deductibles, co-pays, etc.) Try to get a guaranty from a financially strong related party who will pay the AR if the customer defaults. These customers will require more intense follow up of past due invoices (e.g., at 4-7 days past due versus the two weeks or more that is typical).

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Your Virtual Credit Manager

JANUARY 21, 2025

For example: When off-schedule pricing is not clearly communicated to the billing function, customer disputes, often in the form of payment deductions, cause partial payments, delays in payment, increased administrative costs involved in resolving the problems, and diminished customer satisfaction. Do you need help improving cash flow?

Order to Cash 130

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