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At many companies, credit policy is an afterthought. When sales and production goals are set, and then the budget formalized, scant consideration is given to the impact on credit policy. In most companies, sales are given a strong priority over the risk of slow payments and bad debts regardless of gross margins and the resources the credit and collection function can provide to mitigate risk.
Our February blog post is going to introduce and outline our upcoming five-part series on claim denials. Experians Health Report for 2024 had nearly three out of four respondents stating their claims denials have gone up, versus less than half of respondents only two years ago. Almost 40% of the respondents said their claims are denied 10+% of the time, while 11% of the respondents received denials at least 15% of the time.
Cincinnati, OH The law firm of Slovin & Associates Co., LPA is proud to announce the promotion of Brad A. Council to managing partner, marking a new chapter in the firms continued success. In recognition of this leadership transition, the firm is also unveiling a new name: Slovin & Council, Co. LPA. Randy T. Slovin, the firms founder and previous managing partner, will remain with the firm as a consultant, offering his expertise and guidance during this next phase of growth.
While the national inflation level is at 2.9%, it certainly doesn’t feel that way for many Americans. In February 2025, egg prices have risen again, but this time, to record breaking highs. Egg Prices Rise Yet Again The price of eggs has increased a whopping 53% year over year in January, which is far beyond the average food price increase, which was just 2.5%.
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.
Can your AML/CFT and fraud staff recognize these fraud typologies? The technology used to perpetrate financial crimes may be changing, but these common fraud typologies aren't going anywhere. This article covers these key topics: Why familiarizing staff with fraud typologies matters Common fraud schemes Fraud risk management best practices 3 Steps financial institutions can take to prevent fraud Why familiarizing staff with fraud typologies matters in 2025 In 2023, the Federal Bureau of Investig
The world of Accounts Receivable (AR) is evolving rapidly. With increased interest rates and inflation, businesses are facing increasing pressure to collect cash faster. This becomes tricky when businesses also need to maintain excellent customer relationships. For many businesses 2025 calls for leveraging cutting-edge tools and strategies for staying competitive.
The world of Accounts Receivable (AR) is evolving rapidly. With increased interest rates and inflation, businesses are facing increasing pressure to collect cash faster. This becomes tricky when businesses also need to maintain excellent customer relationships. For many businesses 2025 calls for leveraging cutting-edge tools and strategies for staying competitive.
There are three types of customers: those that always pay on time, those that sometimes pay on time, and those that never pay on time. A customer that pays on time does not require any collection efforts. Those who sometimes pay on time only require a collection effort when they pay late; getting them to pay is usually not difficult. Customers who chronically pay late are another matter, especially those who regularly pay well beyond your terms of sale.
In the fast-paced world of entrepreneurship and business management, the importance of maintaining impeccable financial records cannot be overstated. Accounting and controller services are the backbone of a well-oiled business machine, guiding entrepreneurs toward clarity and strategic growth.
Financial community comes together on practical ways to support people in debt NORFOLK, Va., Feb. 20, 2025 PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, and StepChange , the UKs largest debt advice charity, recently partnered to highlight issues impacting people in debt in the United Kingdom. On behalf of the two organizations, The Viscount Chandos hosted a key roundtable debate in the House of Lords chaired by Credit Services Association (CSA)
The relationship between price-to-earnings (P/E) ratios and future stock market returns provides valuable insights for investors seeking to understand market valuations. Historical data demonstrates a clear correlation between P/E ratios at any given time and the subsequent five-year investment returns. The P/E Ratio as a Market Indicator P/E ratios serve as a fundamental metric for assessing whether stocks are expensive or inexpensive in the market.
Banks & credit unions use technology to solve challenges AI today is the result of decades of research and development. In the same way, FIs have consistently leveraged data and technology to solve challenges and serve communities better. This article covers these key topics: The evolution of AI Lending: A legacy of data-driven innovation Generative AI in lending: The next frontier Abrigo's approach to AI Parallel journeys of AI, banking technology Artificial intelligence (AI) is often heral
While there are many conferences for finance professionals , there are no conferences exclusively dedicated to Accounts Receivable (A/R), several events heavily feature this topic, attracting numerous A/R professionals. Below are the top five conferences in the USA for 2025 that offer significant value to those in the accounts receivable department and finance sectors.
The better you know a customers, the easier it is to make a correct credit decision. Seldom is a poor decision made when there is ample information. One of the biggest challenges for any credit function is making a valid decision when information is lacking. That’s why standard procedure calls for gathering additional credit information until a comfortable decision can be made.
It can be easy to get frustrated and make assumptions about why your invoices aren't being paid on time. The problem is that your frustration doesn't solve or prevent the situation from happening. After years of recovering delinquent debt for B2B clients, we've identified many reasons behind late or unpaid invoices. Read on to discover the reasons behind unpaid invoices and how to tackle them effectively.
The TransUnion Debt Collection Annual Report highlights detailed stats and key takeaways we believe youll find both interesting and informative, including: A significant increase in the use of SMS/text messaging and email for consumer outreach A heightened focus on online self-service options driven by convenience and efficiency Expansion of agencies into new credit product verticals and untapped geographic markets New challenges arising from the rising costs of recruiting and retaining huma
What would you do if you had $180,000?A few might go shopping, splurging on luxurious items and extravagant vacations. Others may invest in the stock market, bonds or even just park their money in a savings account. But what if there was another option? In particular, one that could potentially offer even better returns? Well, that was my friend Larry Ludwig’s dilemma when he came into a significant sum of money.
Are outdated processes impacting your loan decisioning? Community financial institutions have the expertise and local ties to support small businesses, but outdated processes and risk-averse approaches often slow down their loan decisioning. Meanwhile, fintech lenders offer fast approvals, attracting small business borrowers despite high interest rates.
Your choice of legal entity structure has significant implications for your business. Most importantly, it affects the taxes on your earnings and the degree to which you and any other owners are personally liable for your businesss debts. Heres what you need to know about the differences between operating as a sole proprietor vs. a limited liability company (LLC) vs. an S-Corp to decide which one is right for your business.
February 2025 TMC Financing, the nations leading SBA 504 lender, is pleased to announce the addition of Andrew Erickson, Senior Vice President, Business Development Officer, serving the Inland Empire. The post Andrew Erickson Joins TMC Financing to Support Small Businesses in the Inland Empire appeared first on TMC Financing.
By mastering cash flow management, businesses can avoid the pitfalls of cash shortages, which can lead to operational disruptions and missed opportunities. Optimizing working capital, a key component of cash flow management, can significantly enhance your business's ability to thrive in a competitive market. Proper management of working capital and cash flow means your business has the necessary liquidity to cover short-term expenses, invest in growth initiatives, and seize new market opportunit
Coral Gables, FL February 10, 2025 Following the acquisition of AACANet , Pollack & Rosen, P.A. (P&R) and its sister company, Gateway Portfolio Services, LLC , have entered into a strategic partnership with Harvest Strategy Group, Inc. to deliver more transparent, data-driven, and compliance-focused debt recovery solutions. This collaboration leverages AACANets national network while integrating Harvest Strategy Groups advanced analytics and compliance-driven portfolio management strat
Retirement risk management is an integral part of everyones life that should not be taken lightly. Your retirement might seem far away, but preparing and managing your retirement fund is crucial. For you to have a carefree retirement, you will need to be mindful of various factors, such as market fluctuations, financial stability, and risk mitigation strategies.
Wire fraud is the second highest fraud scam impacting financial institutions As fraudsters continue to refine their tactics, financial institutions must remain vigilant to protect both their clients and employees from evolving wire fraud schemes. A single misstepwhether its sending funds to a fraudulent account or clicking on a compromised emailcan lead to severe financial losses and reputational damage.
Most types of small business insurances are optional, but your states laws can require specific types of coverage in some situations. However, even when its not mandatory, you should consider getting it anyway. Heres what you need to know to figure out whether you need small business insurance, including the most popular types of policies, when theyre legally necessary, and what can happen if you dont have them.
In todays competitive business environment, maintaining a healthy cash flow is critical. One of the most effective ways to achieve this is by optimizing your operating cycle. The operating cycle plays a critical role in the financial stability of any business. In this article, we attempt to explain the connection between the operating cycle and A/R, identifying bottlenecks, and implementing strategies to improve efficiency, you can achieve faster cash flow and enhanced financial performance.
Business Line of Credit with Low Credit Score For many small business owners, acquiring a business line of credit is an essential step toward fostering growth and navigating day-to-day operations. However, low credit scores often stand as a discouraging barrier, threatening to sideline the growth of a small business. The good news? Obtaining a business […] The post How to Get a Business Line of Credit with a Low Credit Score appeared first on Business Credit.
Los Angeles, CA Los Angeles Business Journal has spotlighted CSS Impact, a leader in financial technology solutions, for its groundbreaking use of artificial intelligence in debt collection. The feature, titled “CSS Uses AI For Collection,” details the company’s innovative AI agents, Ava and Ivan, transforming customer interactions in the debt recovery industry.
Even though escaping the daily grind sounds great, transitioning to a full-time retirement can be complicated. It’s a major life shift, which is simultaneously exciting and uncertain. After all, you’re trading familiar structures for a blank canvas, which can feel liberating and daunting. But, in the words of the legendary Fred Rogers, Often when you think youre at the end of something, youre at the beginning of something else.
Making the most of data developed for CECL See how banks, credit unions, and other financial institutions can leverage data developed and used for the CECL model for stress testing and strategic insight. Key topics covered in this post: The "burden" of CECL data collection is now a blessing Better comparisons with peers Use prepayment studies for ALM & pricing insight Utilize CECL data for stress testing 5 ways to use data developed for the expected credit loss model As CECL was first being
Building a strong credit history is crucial to achieving your financial goals, and the right credit card can help you meet them faster. Credit builder cards assist in growing or rebuilding your credit and can help you stay on track to improve your credit score. Understanding how these cards work and knowing what to look out for will be useful in choosing one that helps you establish credit, qualify for loans, and unlock exclusive rewards.
In today’s rapidly evolving financial landscape, the integration of Artificial Intelligence (AI) into collections management has become a pivotal strategy for organizations aiming to enhance efficiency, reduce operational costs, and improve cash flow. AI agents are revolutionizing the way businesses handle accounts receivable by automating routine tasks, predicting payment behaviors, and facilitating seamless customer interactions.
Top 5 Benefits Using Business Credit Cards for Business In the competitive landscape of business today, managing finances effectively is crucial for both growth and sustainability. One useful financial tool that can significantly streamline financial management is a business credit card. Unlike personal credit cards, business credit cards offer unique advantages tailored specifically for the […] The post Top 5 Benefits of Using Business Credit Cards for Your Business appeared first on Busi
Members of Receivables Management Association International (RMAI) elected Officers and Directors to its Board for 2025. Of the ten-member Board, eight are continuing service from the previous year. The 2025 Officers and Directors are: Jon Mazzoli, Resurgent Holdings, Inc., President Amber Russo, Kino Financial Co., LLC, President Elect Brian Williams, Crown Asset Management, LLC, Treasurer Joe Barbito, Orbita Capital Group, LLC, Secretary Brett Soldevila, Security Credit Services, LLC, Past Pre
After a lifetime of hard work and dedication, retirement is a time for unwinding and relaxing. Even though retirement is primarily associated with physical relaxation and more free time, its equally important to consider a less tangible yet equally vital aspect of well-being: mental wellness. After all, to truly enjoy retirement, we must nurture our mental and emotional well-being like our physical health.
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