Default High-Risk Accounts Small Businesses 
Your Virtual Credit Manager
AUGUST 27, 2024
Just 25 years ago, credit executives were primarily concerned with financial risks — except of course for the Y2K bug that briefly stole the spotlight. Back then, the main question was simple: will this account pay us? Delinquency risk and the risk of default were the primary focus.
Your Virtual Credit Manager
SEPTEMBER 17, 2024
For small business executives, and many mid-sized businesses as well, managing collections effectively can be a significant challenge, particularly when time and resources are limited. Over time, this erodes profitability and financial stability, making it harder to keep the business running smoothly.
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Your Virtual Credit Manager
JANUARY 17, 2023
Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. Share A Case in Point A parts distributor was having difficulty with collections and high dispute volumes. it just might help them pay you sooner!
Your Virtual Credit Manager
MAY 16, 2023
By avoiding the following common traps, or myths if you will, businesses can minimize the risk of non-payment or default and make better informed decisions about extending credit to other businesses that will boost sales and profits. Please feel free to share this newsletter with your small business customers.
Your Virtual Credit Manager
NOVEMBER 1, 2022
Execution and Escalation then round out the three key elements of an effective and efficient Collection effort: Please feel free to share this newsletter with your small business customers. When cash flow is critical, you may even want to reach out to key customer or high risk accounts about a week before payment is due.
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.
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. Please feel free to share this newsletter with your small business customers. Here’s more on Credit Checks.
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