November, 2023

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Medical Debt: An American Struggle

RevCycle

Why do Americans have so much medical debt ? There are several reasons why Americans have so much medical debt. One reason is that the cost of healthcare in the United States is very high. According to the Kaiser Family Foundation, the average American family spent $28,166 on healthcare in 2020. This is much higher than what people in other developed countries spend on healthcare.

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Forecasting Collections – A Key Element of Your Cash Flow

Your Virtual Credit Manager

Cash forecasting is the process used for projecting how much cash you will have on hand in the future. Short term cash forecasting is usually done for every week of the forecast period, typically the current month. Longer term cash forecasts are also prepared for each month, with a focus on the next 3 to 6 months as an operational necessity. Longer term forecasts are useful for planning.

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How Organizing Your Life Can Change The Financial Success Of Your Business

Due

Is your business limping along and losing cash ? Before you blame your CFO, look in the mirror. Could disorganization — your disorganization in particular — be taking its toll on your company’s bottom line, and ultimately, its financial success? It might, especially if your personal lack of organization is hampering your organization’s ability to move fast and get things done.

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Know-it October Round Up

Know-It Global

It’s been another busy month at Know-it! We are excited to welcome a new team member ​​​​​and receive a fabulous award! Read all about October with us and the exciting things that have been going on in the October round up blog! Phil Hobden – Head of Growth and Strategy Know-it are excited to announce the addition of Phil Hobden to head up the Know-it sales team!

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Benchmarking ROI with Forrester: Measuring the Success of Finance Transformation

Finance Transformation Myths Busted Over 75% of organizations struggle to define the right success metrics to benchmark the impact of their finance transformation investment. Whether you are just initiating your digital transformation journey or planning to pitch your next AI project to leadership, without the right metrics and a rigorous tracking process - all your efforts might go to waste!

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UK B2B Trends: Building Loyalty with Modern Trade Credit 

TreviPay

The past few years have been tough for businesses of all types. B2B companies have struggled to meet the digital desires of today’s business buyers, who have been spoiled by the ease of B2C purchasing experiences. Although it’s commonly accepted B2B trends lag behind consumer-focused initiatives, business customers still want—and expect—fast and frictionless transactions.

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FundThrough Ranked Number 431 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500™

FundThrough

For Immediate Release PR Contact: Helen Shacklett, Sr. Manager Communications, FundThrough, hshacklett@fundthrough.com FundThrough Ranked Number 431 Fastest-Growing Company in North America on the 2023 Deloitte Technology Fast 500™ Attributes 280% Revenue Growth to integrated partnerships and increased solution awarness. Toronto, ON – November 8, 2023 – FundThrough today announced it ranked 431 on the Deloitte Technology […] The post FundThrough Ranked Number 431 Fastest-Growing Comp

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Balancing Credit Sales with Profits

Your Virtual Credit Manager

Credit Policy is an inextricable part of a company’s Sales Policy. If you choose to sell on open credit, the terms you offer are in effect part of the price. If you discuss credit terms with a competitor, you are in violation of anti-trust statutes forbidding price fixing. Credit industry groups discuss the payment history of common customers, but they always have an independent moderator present so that customer discussion do not veer off onto the topic of how individual companies plan on

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How to Stop Worrying About Money and Start Thriving

Due

Money is a major source of stress for many of us. This shouldn’t come as a surprise. Without money, we can feel anxious and insecure, since we do not have the means to meet our basic needs. In fact, according to a Capital One and Decision Lab survey , more than three in four (77%) Americans are anxious about their financial situation. But what happens if we worry too much about money?

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5 reasons to meet Chaser at QuickBooks Connect 2023

Chaser

Are you attending QuickBooks Connect 2023 in Las Vegas? If so, make sure not to miss visiting Chaser's booth. Chaser is excited to be exhibiting at this year's event, which is set to take place at the ARIA from Monday, November 12th, to Wednesday, November 15th. QuickBooks Connect is a global event series that brings together accounting professionals, QuickBooks platform partners, and the ecosystem that surrounds them.

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Felix Buehner on Automotive Digital Commerce

TreviPay

Meet Spryker’s Feliz Buehner: Felix Buehner is the Global Lead for Automotive and Mobility at Spryker , a leading eCommerce platform provider based in Berlin, Germany. With over five years of experience in the automotive and technology industries, Felix is a recognized expert in digital transformation and eCommerce solutions for the automotive industry.

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Revenue vs. Profit: Understanding the Difference and the KPIs that Matter

Accounting Department

Business owners strive to maximize their company’s profits. After all, profits are the primary metric of a successful business. However, not everyone understands the difference between revenue and profit, and why it matters for their business.

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Loan covenants refresher: What, when, why & how

Abrigo

Support credit risk management Understanding loan covenants, when financial institutions should use them, and how to monitor them supports strong lending portfolios and credit risk management best practices. Review the 2023 Loan Review Survey results with experts and get their take on emerging trends and best practices WATCH WEBINAR Takeaway 1 Loan covenants are critical to banks and credit unions to manage credit risk, especially when borrowers face stress.

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Waystar Advisory Board: 5 takeaways from our inaugural True North conference

Waystar

To kick off our first annual True North conference , the Waystar Advisory Board met in September 2023 at The Grand Floridian. This network of experienced healthcare executives comes together regularly to connect, collaborate, advocate, and advise on market and industry challenges. Our third meeting of 2023 was energetic and illuminating. We held roundtables to discuss opportunities for artificial intelligence, automation, and scalability.

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The Best Changes You Can Make to Your Home in Retirement

Due

Most people look forward to retirement, since they’ll have much more freedom and flexibility during this time. However, if you’re not satisfied with your home environment, or if it’s not conducive to your lifestyle as you get older, you might not be able to live your retirement years to the fullest. What are the best changes you can make to your home in retirement and why are they so valuable?

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Do Joint Credit Cards Affect Both Spouse’s Credit?

Credit Absolute

Getting married can help boost your financial standing, but it doesn’t mean that you and your spouse will share a credit report. Your credit reports will remain separate, and any joint accounts and shared loans you open together will appear on both of your reports. While this can be beneficial, it’s important to keep in […] The post Do Joint Credit Cards Affect Both Spouse’s Credit?

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Revolving Line Of Credit: Calculate The Interest And Payment

Lendio

If you’re a business owner, you may have considered applying for a revolving line of credit. This type of financing can be a flexible and accessible way to access funds when you need them. However, before committing to a revolving line of credit, it’s important to do the math and understand the terms of the loan. In this article, we’ll explore how to calculate the interest and payment on a revolving line of credit and provide tips for applying for this type of financing.

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The Benefits of Continuous Planning for Your Business

Accounting Department

As a business owner or CEO, have you ever felt frustrated when the budget you made at the beginning of the year has become irrelevant halfway through? Have you ever wished for a more flexible and agile way to manage your finances? If so, you might want to consider continuous planning.

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Five Ways Conversation Beats Email

Credit Management Group UK

Within my career I have come across many people that have distinct apprehensions about having telephone conversations as part of their job, instead choosing to rely on email to communicate with business associates, customers and potential customers. The majority of the time I have been told this is because telephone conversation requires immediate response to any queries, and this is quite a daunting prospect to many people.

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The true cost of fraud

Abrigo

Measuring the cost of fraud losses. The true cost of fraud goes beyond the initial reported fraud losses Would you like other articles like this in your inbox? Takeaway 1 Fraud scams made worse by the pandemic continue to be successful, while crypto-scams are emerging. Takeaway 2 A worsening economy increases the fundamentals of fraud, pressure, opportunity, and rationalization.

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The Ultimate Guide to Effective Cash Flow Management

Due

If you’re a budding small business owner or entrepreneur seeking to hone your financial expertise, dedicating time to perfecting cash flow management early on is vital to solidify foundations and ensure continued success. Monitoring and leveraging financial data starts with oversight and control. How does this start for SMBs or solopreneurs with potentially few resources or background knowledge?

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Court Opinion Review: Purdue Lobs a Modest Proposal at the UST; Rockport Deal Rejected as Sub Rosa Plan; Sticky Situation for Sorrento and Elizabeth Freeman

Reorg Blog

The post Court Opinion Review: Purdue Lobs a Modest Proposal at the UST; Rockport Deal Rejected as Sub Rosa Plan; Sticky Situation for Sorrento and Elizabeth Freeman appeared first on Reorg.

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Protected: Best States For Veterans to Succeed in Business

Lendio

This content is password protected. To view it please enter your password below: Password: The post Protected: Best States For Veterans to Succeed in Business appeared first on Lendio.

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Happy Thanksgiving From AccountingDepartment.com!

Accounting Department

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.

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3 Ways to Chase for Payment Effectively

Credit Management Group UK

Understanding how to chase for payment effectively will vary depending on your customer type and payment history. You may have customers that pay you at the same time each month with very little encouragement from you, on the other end of the scale you may also have customers that will delay payment on a continual basis and will require a lot of chasing.

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A risk-based, time-saving approach to annual loan review

Abrigo

Streamline your annual review process Which loans need them, what processes to avoid, and how to save time working with borrowers' complex credit needs. Read the 2023 Loan Review Survey results for expert analyses of emerging trends WATCH WEBINAR Takeaway 1 Annual loan review is separate from covenant testing and underwriting, but many banks conflate these processes.

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Navigating the Challenges of B2B Debt Collections

Enterprise Recovery

Debt collections between businesses (B2B) is the recovery of overdue payments for goods or services provided to another company. Understanding the intricacies of B2B debt collections is essential for businesses to manage their cash flow effectively and maintain healthy financial relationships with their clients. Businesses of all sizes often face delayed payments, invoice disputes, and communication difficulties.

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Personal Credit Scores & Business Loans

Credit Absolute

Will Your Credit Score Affect Your Business Loan Application? Congratulations! You’ve decided to begin applying for a small business loan. This exciting time for your new or existing company could forecast many great things. If this is your first time applying for a business loan, you might not be aware of the potential barriers that […] The post Personal Credit Scores & Business Loans appeared first on Credit Absolute.

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Understanding Different Types Of Small Business Loans

Lendio

There are many different kinds of small business loans, making it essential to do your research before beginning any application process. Rushing the process is akin to walking into a paint store and telling the clerk you need a can of paint, any kind will do. You’d end up driving home with a new can of paint, but it’s unlikely you’d get the one needed for your specific job.

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Optimizing Spending for Improved Profitability

Accounting Department

As a small and medium-sized business (SMB) owner, managing your cash flow and expenses is crucial to keep your business afloat and profitable. But in today's ever-changing business landscape, controlling costs is easier said than done.

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How Virtual Reality Is Becoming A Game Changer In The Business Landscape

Due

The realm of virtual reality (VR) continues to experience growing momentum against the backdrop of artificial intelligence (AI) and machine learning (ML). Traditionally, virtual reality tools and the associated augmented reality (AR) were considered innovative tools only applicable in the gaming industry – now this technology is steadily disrupting the business landscape.

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Join us for a training session next week

Credit Management Group UK

If you’re looking for an overview or refresher on your credit management , why not Join Jenny as she goes through a quick master class in “How to get your fees paid in a client focused way” The session is being hosted by The Liverpool law Society , Conference for Legal Cashiers & Managers – Wednesday 15th November 2023 This can be attended in person or via MSN teams.

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Sell Invoices: 4 Reasons Why Companies Choose to Sell Invoices

Eagle Business Credit

It’s not difficult to send an invoice and collect a payment, which is why most companies start out doing that in-house. However, collecting on your receivables is a process that can be easily outsourced. With invoice factoring, you can get paid faster without having to deal with receivables servicing in Madison, WI. In this article, you’ll learn about 4 of the reasons why companies choose to sell their invoices.

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Winter is coming – be prepared!

blue dot counseling

The economic headwinds are blowing stronger and there's plenty you can do to batten down the hatches and prepare your business for a recession. The post Winter is coming – be prepared! appeared first on Blue Dot Consulting.

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Average Business Loan Rates: Your Guide To Interest Rates

Lendio

Are you looking for a business loan to help your company? Understanding current business loan interest rates and different loan types will help you pick the loan option that’s right for you. Whether you’re looking for financing to help pay for equipment upgrades or to get your new business off the ground, the average interest rates will determine how much money you can borrow.

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The Ins and Outs of DCAA Accounting for Government Contractors

Accounting Department

When it comes to compliance with government regulations, navigating the intricacies and nuances of DCAA accounting is essential for any government contractor. DCAA stands for Defense Contract Audit Agency, a branch of the Department of Defense that is tasked with auditing and evaluating proposal and contract costs for the government.

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15 Hobbies That Can Boost Your Income

Due

Research shows that hobbies can be psychologically beneficial and improve our well-being. In addition to allowing you to relax and de-stress, hobbies can also provide you with an additional income stream. In fact, you really can’t go wrong with a hobby if you’re looking for a side hustle. To that end, here are 15 hobbies that will boost your income. 1.