Your Virtual Credit Manager

DECEMBER 31, 2024

While emails are often used, phone calls can be more effective, especially for high-risk accounts. Document Everything : Keep detailed records of all communications and agreements to avoid disputes and protect against legal issues. For more information on this subject, please click on this link.

Collector 130

Collector Credit and Collections Bad Debt High-Risk Accounts 130

Your Virtual Credit Manager

FEBRUARY 18, 2025

Business credit is very dynamic, especially across a portfolio of accounts. Today’s low-risk customers can very quickly become tomorrow’s high-risk accounts. Paper documents can be easily scanned and saved in this file. Anybody with a PC can establish an electronic credit file.

Credit Application 130

Credit Application Credit and Collections Bad Debt High-Risk Accounts 130

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. it just might help them pay you sooner!

Collector 26

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

Emagia

FEBRUARY 22, 2025

They assign actions according to available resources, ensuring that high-risk accounts receive immediate attention. Proof of Delivery Download Automated retrieval and storage of proof of delivery documents ensure that all necessary records are readily available for verification and dispute resolution purposes.

Bad Debt 40

Bad Debt High-Risk Accounts Transactions Collections Automation 40

Your Virtual Credit Manager

APRIL 11, 2023

Poor Credit Controls: Poor credit control practices can result in providing goods or services to high-risk accounts that are likely to pay beyond terms or even default on payments. This is because your customer has to match your invoice to their receiving documents and PO. It is not a static document.

Bad Debt 130

Bad Debt Credit and Collections Accounts Receivable (AR) Days Sales Outstanding 130

Your Virtual Credit Manager

NOVEMBER 14, 2023

Purchasing Credit Insurance, however, will only reduce the risk problem if: The policy covers the financially weak, higher risk customers. Credit Insurance policies often exclude individual, high risk accounts. Insurers want to be paid for the risk they bear. The policy cost is acceptable.

Credit Sales 130

Credit Sales Bad Debt Credit and Collections Credit Risk 130

Know-It Global

JUNE 20, 2023

Similarly, suppliers can evaluate the risk of late payments or default, allowing them to set appropriate credit terms. Engage in constructive negotiations with customers to settle overdue accounts and consider offering payment plans or structured repayment options to customers facing financial difficulties.

Bad Debt 19

Bad Debt Credit and Collections Debt Collections Credit Risk 19