Your Virtual Credit Manager
JANUARY 30, 2024
The evolution of Accounts Receivables (AR) automation has revolutionized our collection strategies. Previously, decisions were largely left to the discretion of individual collectors, resulting in subjective and inconsistent approaches. Manual collection processes centered on an aged accounts receivable trial balance (ARTB) lack the regimentation and efficiency brought about by automation.
Wellen Business Credit
JANUARY 1, 2024
“You should have read your contract” are words that a business owner only hears once they realize that the service they paid for, the asset they purchased, or the financing they secured isn’t quite what they though it was. It’s a sentence no one wants to hear, and in the case of capital advance providers like Wellen, a sentence no one wants to speak.
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Due
JANUARY 19, 2024
Stocks have experienced a remarkable rally recently, with a 16% increase in just three months. This surge has been fueled by the expectation that the Federal Reserve (the Fed) will cut interest rates. But do rate cuts actually benefit the market? In this article, we will explore historical data to assess the impact of interest rate cuts on the stock market and provide insights into the potential consequences for investors with a $1 million stock portfolio.
RevCycle
JANUARY 17, 2024
The year is 2024, and the patient experience has never been a more vital component of RCM. Patients are no longer passive recipients of care; they’re informed consumers who demand a positive and seamless experience. To thrive in this new era, medical facilities must prioritize patient experience like never before. But where do you start? Fear not, fellow healthcare heroes!
Credit Research Foundation
JANUARY 11, 2024
In the dynamic landscape of credit management, embracing digital transformation is no longer just an option but a strategic imperative. Transforming your credit application process through digitization not only enhances credit extension capabilities but also significantly elevates the overall customer experience. Let’s explore the compelling business case for making this pivotal shift.
Abrigo
JANUARY 17, 2024
Human trafficking red flags, strategies, and support Human trafficking is more prevalent than most realize, and banks and credit unions can help prevent it. Know the red flags to watch for. You might like this upcoming webinar, " Unveiling human trafficking: Perspectives, realities, and strategies." LISTEN NOW Takeaway 1 Human trafficking is prevalent in the U.S. and worldwide.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Lendio
JANUARY 2, 2024
One luxury of being an employee is that you don’t have to worry much about tax planning. You can sit back as your employer withholds money from your paycheck to cover your liabilities, then use the details from your W-2 to file your tax return come tax time. As a self-employed individual, you don’t have that privilege, and your tax situation becomes a lot more complex.
Due
JANUARY 26, 2024
Every aspect of an organization contributes to its success. Even so, there’s no doubt that upper management tends to influence the success or failure of their companies more than most, which is why it’s essential to invest in your executive team. A leader’s character, decision-making abilities, confidence, empathy, and other intangibles can make or break a brand.
TreviPay
JANUARY 4, 2024
McKinsey declared this ‘ The Semiconductor Decade ’ three years in, sales of semiconductors and board level electronics soldier on despite geopolitical uncertainty. Softer demand following the supply crunches of the pandemic will ramp back up as automakers double – and triple – down on EVs. For fabs and distributors in the space, there is no better time to make sure payments technology enables design to build design cycles for buyers, offering dynamic credit lines, purchase controls and simplici
Credit Research Foundation
JANUARY 11, 2024
As a seasoned commercial credit risk practitioner, I’ve witnessed firsthand the invaluable benefits of cultivating a robust network beyond organizational boundaries, courtesy of credit networks. These networks, tailored for credit professionals and often specializing in diverse industries, provide a wealth of opportunities for collaboration and information exchange.
Credit Management Group UK
JANUARY 27, 2024
It can be tricky to get paid on time for a business within any industry, however the construction industry is an entirely different ball game when it comes to getting paid. Sub-contractors in particular can often bear the brunt of poor payment practices within the construction industry, and often lack of knowledge can make the situation worse. Small firms are often employed by larger contractors under a sub-contract agreement that they don’t fully understand, and once this is accepted there is v
Your Virtual Credit Manager
JANUARY 16, 2024
If you sell on open credit terms, you need to plan on having to expend time and resources collecting from those customers that don’t pay when due. No matter how much effort you put into evaluating customer credit, some customers will not live up to your expectations. Late payments and even non-payment are simply inevitable. In addition, customer situations change, and it is impossible to keep up, especially when you have a growing customer base.
Accounting Department
JANUARY 11, 2024
Every savvy business leader knows the value of having a well-run bookkeeping or accounting department. However, not everyone is aware of how important it is today to have a financial planning and analysis (FP&A) team to help back their business with effective and accurate financials.
Due
JANUARY 11, 2024
As a retiree, you’ll need a steady stream of income, but you probably won’t want to work that much. One solution to this possibly contradictory dilemma is to build and maintain a business capable of generating income passively – or at least, mostly passively. But what exactly does this mean? How can it help you retire successfully? And how do you ensure your business continues generating income indefinitely?
Abrigo
JANUARY 24, 2024
Prevent fraud when adopting FedNow Credit unions can prevent fraud as they connect to FedNow. Use this guide to understand available tools and the steps AML and fraud teams should take. You might also like this FedNow implementation guide with details on appropriate AML/CFT and fraud considerations. DOWNLOAD Takeaway 1 Preventing fraud is a top concern of credit unions considering adopting FedNow, the new instant payments infrastructure from the Federal Reserve.
Enterprise Recovery
JANUARY 12, 2024
While much of your budget planning was likely done in the fourth quarter, it's never too late to set your business up for success in the new year. Financial planning is valuable at any time - whether you're evaluating your business investments or measuring why your cash flow is slow. Read further to discover essential financial planning tips for business owners to ensure long-term success and growth.
Credit Management Group UK
JANUARY 7, 2024
Do you find it difficult to get paid on time? Have you ever had to write of a bad debt? Have you ever put off taking action on a debt, due to uncertainty? If your answer if yes to any of the above questions then you may find that, if not addresses appropriately, issues can snow ball and seriously damage your cashflow. To tackle these issues, for a low monthly cost we can provide your business with the expertise and support necessary in fully understanding your credit management issues, analysing
Your Virtual Credit Manager
JANUARY 9, 2024
Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics. There is nothing wrong with that. In fact, once you decide to sell a customer on open credit, most of the accounts receivable (AR) management tasks that follow have a reactive component.
Accounting Department
JANUARY 10, 2024
Business growth is a key objective of any entrepreneur, but it is not always easy to achieve. There are many components, including having the appropriate financial infrastructure in place. This is where outsourced client accounting services come in.
Due
JANUARY 11, 2024
As financial pressures mount, making the most of your money is more important than ever. This is especially true since we are constantly pressured to keep up with the latest trends. One way to resolve these issues is to be stingy. The concept of living a stingy lifestyle might seem outdated today. Making the most of your hard-earned money is something you should embrace, however.
Abrigo
JANUARY 22, 2024
6 Steps t o mitigate fraud risk tied to new products Your AML and fraud teams' input is key when it comes to offering new bank products. These tips can help ensure compliance while improving your offerings. You might also like this infographic, "Beyond immediate fraud losses: How the costs and impacts of fraud snowball." download NOW Takeaway 1 Fraud losses totaled $485.6 billion globally last year.
Reorg Blog
JANUARY 31, 2024
The post Court Opinion Review: The Third Circuit Mandates Examiners, the Possible End of the PTE Two-Step, DSG’s Dicey Reorganization, and Delaware Doubles Down on Release Consent appeared first on Reorg.
Credit Management Group UK
JANUARY 23, 2024
During my time in business, I have come across many people who view credit control as their worst nightmare. The idea of ringing customers to ask for payment can be a daunting thought for many; however, from my experience, it is a daunting task because of lack of confidence in the task at hand. Confidence can make all the difference to being successful at credit control and it can easily be increased by understanding and having the knowledge of the correct processes and procedures that make a cr
Your Virtual Credit Manager
JANUARY 2, 2024
Contacting customers to pay past due amounts (collecting) is an essential element of accounts receivable (AR) management. For most firms, late customer payments are a frequent occurrence and collecting them can be a difficult task. If collections are not done properly and in an adequate frequency , your AR will age, cash flow will decrease, and the risk of bad debt loss will increase.
Accounting Department
JANUARY 4, 2024
While planning for 2024, the question of whether or not it's time to hire a financial controller may come up for many business owners. To help make that decision easier, this article explains the duties of a financial controller and the benefits of partnering with an outsourced accounting provider, rather than trying to find a controller of your own.
Due
JANUARY 22, 2024
Your daily life is going to change as a retiree. It’s important that you remain adaptable during this transition if you’re going to remain healthy and thrive. One of the best ways to set yourself up for success is to attempt to simplify your life – in everything from long-term financial planning to daily household chores. But how do you do this?
Abrigo
JANUARY 3, 2024
New BOI requirements and how financial institutions can comply Here's what FinCEN's recent final rule for beneficial ownership information (BOI) reporting says and how anti-money laundering (AML) programs will access BOI information. You might also like this on-demand webinar, "How the AMLA & CTA will affect your AML program." WATCH NOW Introduction Changes to beneficial ownership reporting Takeaway 1 Effective Jan. 1, 2024, many companies must begin reporting information about who ultimate
Enterprise Recovery
JANUARY 29, 2024
Complex tax questions can be especially confusing for small businesses, freelancers, or startup companies. It's important that your business's financial records are maintained with integrity and organization. If you're a one-person department or temporarily taking on the accounting role, it's natural to have some questions and uncertainties. Avoid common accounting mistakes and ensure a smooth tax season with these best practices.
Credit Management Group UK
JANUARY 16, 2024
Debtors Guide Q & A Where the Act is to be enforced Why the ACT? The legislation fulfils the UK’s obligations under the European Directive on combating late payment of commercial transactions. The UK was one of the first countries in the EU to implement late payment legislation and maintains this legislation after Brexit. The aim of the Act is to promote a culture of prompt payment within the UK.
Loomis Sayles Credit Research
JANUARY 16, 2024
1. Last year, you felt EM inflation had peaked. Today, inflation has drifted lower in line with your expectations. Will inflation remain a key factor for emerging markets in 2024? Yes, inflation will continue to be a factor, but we would add that maintaining growth will also be important—both points cut across developed markets (DM) and emerging markets (EM).
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