November, 2023

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Enhancing Employee Value and Global Collaboration Through Digital Transformation in Credit Management

Credit Tools

Schneider Electric and my DSO Manager discussed on the CREDIT MATTERS XII stage on October 12, 2023. Check out their presentation's official video retrospective.

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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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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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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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Sky Helps Experienced CEO Save Jobs of over 100 Employees

Sky Business Credit

When it comes to owning a business, every day brings its unique set of challenges. For Skip, an experienced CEO who had recently acquired a new company, the unexpected hurdles came fast and furious. In a matter of months, he found himself in a cash flow predicament that threatened to destroy his business and his employees’ financial livelihood. How It Began Skip purchased an established business less than a year ago and things were going well – until one day, with $1.5 million in receivables pen

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Foster Faster Collections with Effective Reminders

Your Virtual Credit Manager

For most small businesses, collections are reactive. When a customer goes past due, they then go into action — typically with a call, though it is also likely that unless a sizeable amount is involved a call is not made right away. In the meantime, routine collections are driven by passive activities, often just a monthly statement. It’s an improvement when statements are backed up by written notices.

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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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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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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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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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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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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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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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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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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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Avoiding These 8 Collection Mistakes Will Pay Dividends

Your Virtual Credit Manager

There is often a very fine line between getting paid and getting paid much later or not at all. Frequently there is a small window of opportunity for getting paid sooner rather than later. Any number of factors can put your company on the wrong side of the equation: Your competition also wants to get paid. If their collection efforts are more aggressive than yours, the customer will tend to pay your competitor sooner, while you end up waiting for this mutual customer to accumulate additional fun

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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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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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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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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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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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For faster loan origination, stop doing this

Abrigo

How to close more loans by speeding up lending and credit analysis Seeking a quicker loan origination workflow is worth it. Learn where to find opportunities for improvement. You might also like this on-demand webinar on the red flags of emerging CRE risk. WATCH Takeaway 1 A critical look at the existing steps for loan requests and credit underwriting helps uncover ways to offer faster loan decisions.

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Discover Funny Ways to Save Money

Due

Saving money is a serious matter. Fortunately, this doesn’t always have to be the case. You can actually save money in a lot of funny ways. With everything from simple tips and tricks to hilarious challenges, you’re sure to find something for yourself. In the words of journalist Joe Moore, “A simple fact that is hard to learn is that the time to save money is when you have some.” As such, here are some of the best ways to discover ways to save money. 1.

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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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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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