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It’s been 16 years since the last major economic downturn – the banking crisis that started in 2007 and was in full impact mode from 2008 through 2010. During that period, the U.S. economy shed over 8.7 million jobs, and the unemployment rate peaked at 10% in October 2009. Since then, we’ve weathered the COVID-19 pandemic, which many experts predicted would lead to a wave of defaults and business closures.
Hospitals are facing a growing threat to their bottom lines, namely payer requests for information (RFI’s). A study by Kodiak Solutions shows that the denial rate from initial RFI’s has increased by nearly 9% since 2022. The increase is not due to a decrease in data quality either, with Colleen Hall of Kodiak Solutions stating: “Our analysis suggests that health insurers are using RFI denials to simply slow down claims that they ultimately will pay, just to reap the benefits of paying more slowl
CHANDLER, AZ – National Credit Adjusters, a receivables acquisition and management firm headquartered in Hutchinson, KS with a satellite location in Chandler, AZ, was pleased to continue support of an annual water drive spearheaded by the team in the Chandler office. Due to the desert climate, Chandler, AZ has an average temperature of a sweltering 107 degrees in July, taking a toll on the unfortunate during the summer.
Efficiently filing SBA loan packages for approval When an SBA lender is ready to submit loan guaranty packages and loan servicing requests, it does so through the SBA’s online portal, E-Tran. Would you like other articles like this in your inbox? Key Takeaways E-Tran is the SBA's loan submission platform. 7(a) and 504 loan programs both use E-Tran for managing loans.
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.
Credit and collections management too often involves simultaneously handling multiple urgent tasks that demand immediate attention. It is more common to face sudden crises or fire drills than to have long, uninterrupted periods to work on important projects. This constant pressure is one of the greatest challenges executives with accounts receivable (AR) responsibilities face—navigating urgent issues while still keeping focused on the strategic goals that drive long-term success.
A man from Nevada has been convicted of a fraud scam involving $11.2M in COVID-19 pandemic relief funds intended to help small businesses. The person at the heart of the fraud case, Meelad Dezfooli, was prosecuted by Trial Attorneys D. Zachary Adams and Taylor G. Stout of the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS) and Assistant U.S.
A man from Nevada has been convicted of a fraud scam involving $11.2M in COVID-19 pandemic relief funds intended to help small businesses. The person at the heart of the fraud case, Meelad Dezfooli, was prosecuted by Trial Attorneys D. Zachary Adams and Taylor G. Stout of the Criminal Division’s Money Laundering and Asset Recovery Section (MLARS) and Assistant U.S.
Regardless of your hesitations, investing in technology can save you and your team a lot of unnecessary headaches. If you’re on the fence, read these five key reasons why payment automation is worth the investment.
Financial Planning & Analysis (FP&A) is crucial for any business aiming to scale successfully. It involves detailed financial forecasting, budgeting, and analytical processes that drive strategic decision-making.
RMAI extends its thoughts of support to all of those affected by Hurricane Helene. RMAI recommends all members temporarily suspend collection calls and communications to consumers in the portions of southeast who are directly affected by this emergency. Information on the effect of Hurricane Helene from some of the states directly impacted are listed below.
Without customer satisfaction built into your B2B growth strategy, you might run into some unnecessary growing pains. Invoicing is an essential consideration to include in your strategy. As part of a comprehensive smart approach, it’s important to understand that invoicing B2B customers is significantly more complicated than invoicing B2C customers.
To optimize the order-to-cash (O2C) process, it's crucial to understand the significant role Credit and Collections plays. This function must collaborate closely with sales, fulfillment, shipping/logistics, and accounting, all of which are integral to converting an order into cash. Specifically, Credit and Collections is responsible for approving new customers for credit terms and managing orders at the beginning of the O2C cycle, while also monitoring risks within the Accounts Receivable (AR) p
In an industry flooded with options, Gavin Maloof and Steve Rice have found a way to stand out with their tequila brand, Comisario. They credit their success to a combination of business acumen, product excellence , and an authentic partnership. From the start, their approach to the competitive liquor market was rooted in creating a product that stood out in terms of taste and upheld values of trust, integrity, and a commitment to customers and employees alike.
Maximizing profits after Halloween is essential for BigCommerce merchants. The holiday season doesn’t end on October 31st. There are still plenty of opportunities to drive sales during the Halloween after sale period. Automated campaigns can help you manage these post-Halloween sales efficiently, saving time and boosting revenue. Understanding the Importance of Halloween After Sales Halloween after sale campaigns are crucial for keeping the momentum going after the holiday.
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.
Bringing 15 Years’ Experience in Client and New Product Development Rochester, N.Y. – September 25, 2024 – Continental Service Group, LLC d/b/a ConServe, a prominent leader in the collections industry, is excited to announce the addition of Matthew Rehnelt to their Sales Department as the Director of Business Development. In his new role, Matt will focus on supporting ConServe’s U.S.
Generally, there are two main levers that your business can pull to affect growth metrics: 1) customer acquisition, meaning bringing new shoppers through the door, and 2) customer retention, meaning keeping your old shoppers from exiting that door. Each is a necessary component of business growth, but which is more cost-effective—and which should you prioritize for your small business?
As businesses grow and add customers, there comes a point when collections become a burden. This will generally occur before a company reaches 100 customers on open account, but certainly before they acquire 200 customers. Once you are dealing with hundreds of customers, the time required to contact everybody who has gone past due becomes substantial, and will require a dedicated effort, rather than an ad hoc approach.
Consumers care about quality. From experiences to services to gear, for most consumers money spent on affordable, quality products is seen as money well spent. As a business, it’s important to maintain a high degree of quality. At the same time, you need to operate with a healthy profit margin and ensure your target audience can afford the solutions you’re offering.
A conventional home loan is the most common loan product offered by mortgage lenders, making up roughly 64% of the market. Conventional mortgage loans typically require higher credit scores than government-backed loans, but there are also many advantages to going with conventional mortgages. We’ll discuss these factors below. What is the Required Minimum Credit Score for a Conventional Loan?
The month-end is coming up and that means it is time to close. A monthly close can be a laborious process that is dreaded by some accounting and finance departments, but it doesn't have to be that hard!
On September 24, 2024, Governor Gavin Newsom signed into law three consumer protection bills aimed at medical debt, commercial debt, and enforcement of money judgments. RMAI actively lobbied and were able to achieve amendments on all three bills. In the case of Senate Bill 1061, we were able to significantly narrow the scope of the term “medical debt” and withdrew our opposition.
For businesses operating on the BigCommerce platform, preparing for Black Friday requires a strategic approach to ensure everything runs smoothly and profitably. Having a well-structured Black Friday checklist is essential to managing the increased traffic, optimizing inventory, and executing effective marketing campaigns. This guide will provide a comprehensive checklist to help BigCommerce B2B enterprises prepare for a successful Black Friday, leveraging BigCommerce’s strengths and Atom8
For small business executives, and many mid-sized businesses as well, managing collections effectively can be a significant challenge, particularly when time and resources are limited. With so many competing priorities, it’s easy for receivables to take a backseat to other pressing operational tasks. However, failing to dedicate sufficient time and effort to collections can quickly lead to cash flow problems, disrupting the ability to pay suppliers, invest in growth, or even meet payroll.
Given the rising costs of higher education, saving for college is a vital goal. However, it is just one piece of the larger financial puzzle you must navigate. Retirement, emergency funds, debt repayments, and other obligations also actively compete for your attention and resources. Achieving this delicate balancing act requires a deep understanding of how different objectives can coexist harmoniously within a comprehensive plan.
Unlock the Secrets to Effective B2B Credit Management Navigating credit management for B2B buyers isn’t just a task—it’s an art. TreviPay’s “Smart Start Guide: Quick Guide to Effective Credit Management for B2B Buyers” is your comprehensive resource to mastering credit management – an essential aspect of your business. With The Guide, You’ll Learn How to: Understand B2B Buyer Needs : Explore the differences between B2B and B2C markets and how these impact your approach to credit management
In This Update With less than two months before the November elections, an air of uncertainty lingers throughout Washington. Regardless of the outcome in the U.S. House and Senate elections, current Members of Congress will hold a lame duck session that could be filled with activity. We’re likely to see utilization of the Congressional Review Act (CRA), an oversight tool that Congress can use to overturn final rules issued by federal agencies.
Thanksgiving is a pivotal time for eCommerce businesses, as it marks the beginning of the holiday shopping season. For retailers, it’s an opportunity to drive sales, engage customers, and build long-lasting relationships. This blog’ll explore some of the best Thanksgiving email examples and how to set them up effectively on BigCommerce. Top Thanksgiving Email Examples for BigCommerce Festive Promotion Announcement A well-crafted festive promotion announcement can generate excitement and ur
Startups often need funding to get up and running or gain additional traction. Generally, the best way to do that without giving up ownership of your company is to get a startup business loan. However, qualifying for a business loan can be challenging, especially for new startups without significant revenues or business credit history. Here’s a step-by-step guide to help you navigate the process, plus some alternative financing options you may want to consider.
Prospective homeowners have something to look forward to in the coming months. The average mortgage rate across the United States has started to decline in recent weeks, with experts suggesting this trend will continue well into the remainder of the year and much of 2025. Mortgage rates have been at historically high levels for much of the last couple of years.
We have recently introduced three new live online training courses. Our second one we would like to introduce is specifically for the Construction Industry. There is currently and introductory offer of £99 + vat. How to get paid in Construction Who will benefit? The course would be most beneficial for employees working in Account departments, project managers working for suppliers and sub-contractors to the construction industry.
Our team kicked off another year of EO events last week while attending EO Nerve. ADC Business Development Representative, Shawn Marcum, participated in the multi-day event in Atlanta, GA.
Regina M. Slowey has joined Barron & Newburger, P.C., expanding the firm’s footprint into Michigan. She has taken on the position of President and CEO of the firm. With Ms. Slowey’s strong background in managing legal teams and a commitment to innovative leadership, will oversee the firm’s thirteen offices, bringing a fresh perspective to guide the firm’s future.
The holiday shopping season is just around the corner, and Cyber Monday is one of the biggest days for eCommerce sales. As a BigCommerce store owner, preparing for Cyber Monday is crucial to ensure your online store is ready to handle the influx of traffic and orders. In this guide, our eCommerce experts share their top tips and strategies for optimizing your BigCommerce site to maximize your Cyber Monday sales.
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