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A major cause of delinquent receivables stems from failing to meet the customer’s invoicing requirements. A government agency, big box retailer or other large customer often has invoicing requirements that may differ from the industry norm. Your average customer also has minimal requirements that must be met. Another cause of late payments, the longer you take to deliver invoices to your customers, the longer it will take them to send you the payment.
Many businesses underestimate the importance of their accounts receivable (A/R) process, assuming they’ll “get paid eventually.” This mindset often leads to underinvestment in collections efforts, and when budget cuts are necessary, accounting departments like collections are typically the first affected. However, maintaining a steady cash flow is essential for business survival, and efficient collections directly impact the bottom line.
This article covers these key topics: Debt-service coverage ratios are steady. Leveraged has improved since 2019. Businesses' working capital cycles are longer. Interest coverage ratios have stayed strong. How lenders can leverage this data. Bank and credit union leaders can use data to inform small business lending Small businesses are showing resilience.
Earlier today, the New York City Department of Consumer and Worker Protection (DCWP) published a change to the effective date for the amended New York City Debt Collection Rules that were adopted on August 12, 2024. The new effective date will be April 1, 2025. Previously, the amendments were set to go into effect on December 1, 2024. This change is consistent with the industry’s request for additional time for implementation given the significant changes to the rule.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
Following up on past-due invoices and delinquent accounts can be a full-time job. However, it is invaluable to your business's bottom line. If you're considering outsourcing debt collections or handling them in-house, this post can help clarify the benefits of outsourcing. Outsourcing B2B debt collection can transform your financial operations by bringing in expertise, reducing costs, and freeing up valuable internal resources.
Artificial intelligence (AI) is no longer a futuristic concept—it’s here, and it’s reshaping industries across the globe. That is not to say AI’s emergence in business and finance won’t cause problems if used improperly, warned Wanda Borges, Esq., a legal expert with more than three decades of experience during a recent episode of the Emagia AI for Finance podcast.
Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. While the principals of credit are the same for businesses of every size, there is a lot more information on the big guys making it easier to see any red flags that suggest they are in trouble.
Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. While the principals of credit are the same for businesses of every size, there is a lot more information on the big guys making it easier to see any red flags that suggest they are in trouble.
Automation delivers finance departments many benefits, including accurate predictions and insights related to revenue and sales so that CFOs and their teams can make better business decisions. Despite this, automation in accounts receivable has met its fair share of skepticism from business leaders worldwide. Some of the main concerns include change management and employee adaptability to new technologies, adherence to compliance, how easily the automation technology integrates with other financ
Be proactive with your AML/CFT program to prevent BSA enforcement actions As regulatory scrutiny intensifies, financial institutions face more frequent Bank Secrecy Act (BSA) enforcement actions from supervisory agencies. These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective.
As a business owner or finance professional, one of the most frustrating situations you can encounter is a customer who refuses to pay their invoice. Whether it’s due to cash flow issues, a dispute over the goods or services provided, or just plain unwillingness to settle, unpaid invoices can significantly impact your business’s cash flow and bottom line.
As the new year approaches, businesses often must adjust their rates. These changes could be driven by factors such as inflation, increased operational costs, or the need to invest in new technologies and services. For B2B companies and SaaS providers, staying competitive and maintaining high service standards often require periodic rate evaluations.
Aryza Expands Partnership with GoCardless to Enhance Payment Solutions Aryza Group, a leading provider of financial software solutions, announces the expansion of its partnership with GoCardless , a global bank payment company. This collaboration transforms the existing technology relationship into a comprehensive partnership that includes an introducer agreement across all Aryza platforms globally.
Now that we are past the mid-point of November, the end of the year is zooming into focus. Chances are, there is a lot that needs to be done in terms of accounts receivable (AR) management between now and December 31st, especially if you are short of your Days Sales Outstanding (DSO) goals. If that’s the case, collection activities should be at the top of your to do list, because any changes in credit policy and procedures will be too little too late for this year.
Robert Shultz has witnessed the remarkable transformation of the credit profession over decades. Reflecting on his career, Shultz recalls, “When I started, we were using punch cards.” Today, however, innovative technologies enable credit professionals to assess entire portfolios holistically—once an unthinkable feat. In a recent episode of Emagia’s AI for Finance podcast, Shultz, a seasoned financial executive and managing partner at Quote to Cash Solutions LLC, discussed how AI-driven technolog
Prepare for regulator scrutiny on interest rate risk & liquidity Banks and credit unions that aren't paying attention to these critical issues can expect a tough review. Key topics covered in this post: Regulatory focus Key questons for ALCOs Governance and concentration risks Expect the unexpected Regulators 'could not be more clear' Today’s regulatory climate is turning up the heat on financial institutions when it comes to liquidity and interest rate risk management.
Many look forward to cozy family gatherings, festive meals, and gift exchanges as the holiday season approaches. Inflation , however, is straining holiday budgets across the country. According to a recent survey from WalletHub , 68% of people expect Santa to be less generous this year. Due to this, they are adjusting their spending, taking on credit cards, and trying new ways to manage holiday expenses.
The sooner your business collects on its invoices, the lower your financial risks and the better your financial position. That means your accounts receivable team will want to do everything in its power to increase cash flow and reduce your DSO. One of the fastest ways to do this is via collections process automation to streamline the A/R process, eliminate manual tasks, and ensure timely follow-up with customers. 6 Steps to Automate Payment Collections for Your Business Smoothly Once your compa
Navigating Credit Risk Management in Banking: The Future of Decision-Making and Receivables Paul O’Sullivan, Global Head of Banking and Lending at Aryza With a growing emphasis on Environmental, Social, and Governance (ESG) factors, compliance with International Financial Reporting Standards (IFRS), and adherence to regulatory frameworks, a robust strategy to manage credit risk is now paramount for banks and financial institutions.
Cash flow is the lifeblood of any small business, but late payments and unpaid invoices can create significant challenges. Professional debt collection services can help maintain financial stability without damaging client relationships. Here’s how. Reduce the Stress of Debt Recovery Debt collection is time-consuming and can strain internal resources.
In today’s digital landscape, financial firms are increasingly leveraging artificial intelligence (AI) to enhance efficiency and accuracy in document processing. Implementing AI in finance, particularly for document processing, can transform traditional workflows, reduce human error, and improve compliance. However, a smooth transition requires careful planning and execution.
Table of Contents What businesses count as a minority business enterprise ? The 3 small business loans for minorities and top 3 top financing opportunities for minority businesses enterprises (MBEs) Alternatives to traditional loans Ready to take the next step with your business? Like all business funding, securing funding as a minority business enterprise (MBE) can be an uphill battle, even as the number of MBE owners continues to rise.
As a last resort, many people file for bankruptcy when they are faced with overwhelming debt. In fact, 486,613 people filed for bankruptcy in 2024 — up 16.2% from the previous year. In addition to 464,553 filings by non-business entities, 22,060 are filings by business entities. However, those nearing retirement or with significant savings wonder how bankruptcy will affect their retirement accounts.
Whether due to error, financial trouble or the non-delivery of goods or services, disputes are unavoidable in the world of accounts receivable. Traditionally, they are managed through a lengthy, tedious manual process that lacks visibility into the process in real time. As companies scaled and these disputes increased, however, businesses started to turn to dispute automation for a more efficient dispute management process for collections and dispute management.
The road to sustainable business growth is paved with good incremental decisions. It is rare for a business to have all the resources needed to make all the improvements they want at one time. Many improvements require substantial financial investments in equipment or infrastructure, making tiny steps more affordable than giant leaps. The key is choosing steps that are both sustainable and provide greater returns on investment, accelerating the path toward future growth.
Revolving utilization is a big part of your credit score: 30% to be exact. There are certain accounts on your credit report that contribute to it while others don’t. There are also ways you can reduce your utilization rate and improve your credit score. In this article, we’ll cover what revolving utilization is, how to improve it, and how it impacts your credit score.
What is the Days of Sales Outstanding Ratio? The Days of Sales Outstanding (DSO) ratio is a key metric that measures the average number of days it takes for a company to collect payment after a sale. DSO provides insight into a company’s liquidity and cash flow health. Why the DSO Ratio Matters A lower DSO ratio indicates efficient credit and collections management, allowing businesses to maintain stable cash flow.
Debt collection involves a variety of legal considerations, especially in Atlantic Canada, where regulations may vary by province. Here’s an overview of what businesses need to know to stay compliant and avoid legal pitfalls. Understand Provincial Regulations Each province in Atlantic Canada, including New Brunswick and Nova Scotia, has its own set of rules governing debt collection.
The Justice Department is instructing Medisca Inc. to pay $21.75 million to resolve allegations that it established false and inflated Average Wholesale Prices (AWPs) for two ingredients used in compound prescriptions. The company’s prescription ingredients ordering system reportedly contained false pricing. This resulted in pharmacies unknowingly submitting prescription claims to the Defense Health Agency.
Creating a budget is essential for any business aiming for long-term success. As a business owner or CFO of a small to medium-sized enterprise, you might have faced the difficulties involved in developing and executing a budget.
Over 50% of B2B invoiced sales in the US are paid late, impacting the cash flow of businesses of all scales. A demand letter for payment is a simple way to resolve these kinds of payment despites and get the money you are owed.
If you need an influx of capital in your business, there are several different types of financing you can rely on. Two of the more traditional options include business lines of credit and business term loans. Deciding between a business line of credit and a loan generally comes down to what you need for your business, as well as the terms you want for paying back the debt.
The Road to AI-Driven Efficiency Generative AI can significantly reduce time spent on routine tasks, allowing employees to focus on higher-level work. By automating processes like data entry and initial email drafts, AI enables employees to become reviewers and decision-makers rather than simply task executors. Identifying key accounts Flagging accounts for follow-up Drafting customer emails Generative AI has evolved significantly since Mark Shank’s early days at KPMG, where it was used for pred
Navigating the debt collection process can be complex, especially when dealing with specific legal considerations in Atlantic Canada. Here’s a step-by-step guide to help creditors and debtors understand what to expect. 1. Initial Contact and Demand for Payment The debt collection process typically begins with an initial contact from the collection agency, which may include a written notice or phone call.
A pharmaceutical company has been instructed to pay $47 million to resolve false federal health care claims allegations. QOL Medical LLC (QOL), alongside co-owner and CEO Frederick E. Cooper, has stumped up the money, bringing the submission of false claims to federal healthcare programs allegations to a close. The allegations were brought about after concerns were raised by Elizabeth Allen, Lauren Canlas, Donald Johnson, and Stacey Adams, former QOL Medical employees.
This year we're especially thankful for our clients and our team - it is their collective energy, positivity, and dedication to success that has made this such a great year.
Thrilled to share that Chaser has been shortlisted for the Supplier of the Year award at the 2025 CICM British Credit Awards, an accolade that celebrates the most impactful providers in credit management technology.
If you’re looking to buy a vehicle for your business, there are several different ways you can finance the purchase. Business auto loans and equipment loans can be a good place to start, but if your business meets the requirements for an SBA loan, that should be on your radar as well. Here’s what you need to know about SBA commercial vehicle loans, how they’re structured, and what you should expect in terms of eligibility requirements.
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