Know-It Global
NOVEMBER 13, 2024
As a business owner or finance professional, one of the most frustrating situations you can encounter is a customer who refuses to pay their invoice. Whether it’s due to cash flow issues, a dispute over the goods or services provided, or just plain unwillingness to settle, unpaid invoices can significantly impact your business’s cash flow and bottom line.
Your Virtual Credit Manager
NOVEMBER 12, 2024
Monitoring and evaluating the credit risk posed by public companies and other large firms differs significantly in comparison to small and mid-sized businesses. While the principals of credit are the same for businesses of every size, there is a lot more information on the big guys making it easier to see any red flags that suggest they are in trouble.
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RMAi Blog
NOVEMBER 15, 2024
A recent issue has arisen pertaining to objections to Proof of Claims in bankruptcy cases filed in the Western District of North Carolina. RMAI recommends that our members consult with their legal counsel on how best to address the issue as it pertains to their organizations. Specifically, there has been an increase in the number of objections to claims being filed in cases where there is a joint bankruptcy and particularly in cases where the property is held by the tenancy in the entireties.
Abrigo
NOVEMBER 13, 2024
This article covers these key topics: Debt-service coverage ratios are steady. Leveraged has improved since 2019. Businesses' working capital cycles are longer. Interest coverage ratios have stayed strong. How lenders can leverage this data. Bank and credit union leaders can use data to inform small business lending Small businesses are showing resilience.
Chaser
NOVEMBER 15, 2024
Over 50% of B2B invoiced sales in the US are paid late, impacting the cash flow of businesses of all scales. A demand letter for payment is a simple way to resolve these kinds of payment despites and get the money you are owed.
Accounting Department
NOVEMBER 14, 2024
Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Abrigo
NOVEMBER 14, 2024
Be proactive with your AML/CFT program to prevent BSA enforcement actions As regulatory scrutiny intensifies, financial institutions face more frequent Bank Secrecy Act (BSA) enforcement actions from supervisory agencies. These actions can result in costly civil penalties and reputational damage, so banks and credit unions should take proactive steps to ensure their BSA compliance programs are robust and effective.
Collenda
NOVEMBER 13, 2024
Aryza Expands Partnership with GoCardless to Enhance Payment Solutions Aryza Group, a leading provider of financial software solutions, announces the expansion of its partnership with GoCardless , a global bank payment company. This collaboration transforms the existing technology relationship into a comprehensive partnership that includes an introducer agreement across all Aryza platforms globally.
Chaser
NOVEMBER 13, 2024
Thrilled to share that Chaser has been shortlisted for the Supplier of the Year award at the 2025 CICM British Credit Awards, an accolade that celebrates the most impactful providers in credit management technology.
Accounting Department
NOVEMBER 13, 2024
Opting for outsourced client accounting services can significantly conserve time and resources for your business. Nevertheless, locating a reliable outsourcing partner can be difficult. But how can you be sure you’re choosing an outsourced accounting service you can trust? A few characteristics of trustworthy, competent, and reliable accounting services will help you know the provider you chose is the right one.
aptic
NOVEMBER 14, 2024
What is reverse factoring? Reverse factoring is a financing solution that allows suppliers to receive early payments on approved invoices from a buyer, typically through a financial intermediary (the factor), at a lower interest rate based on the buyer’s credit rating. This process enables suppliers to access immediate cash flow while allowing buyers to defer payment until the invoice’s maturity date.
Due
NOVEMBER 14, 2024
As a last resort, many people file for bankruptcy when they are faced with overwhelming debt. In fact, 486,613 people filed for bankruptcy in 2024 — up 16.2% from the previous year. In addition to 464,553 filings by non-business entities, 22,060 are filings by business entities. However, those nearing retirement or with significant savings wonder how bankruptcy will affect their retirement accounts.
Credit Tools
NOVEMBER 15, 2024
We are thrilled to share an exclusive interview with Scarlett Favre-Verand, the CEO of Efficash, a consulting firm specializing in credit management. In this captivating conversation, Scarlett takes.
Chaser
NOVEMBER 14, 2024
An Electronic Funds Transfer (EFT) payment is a payment option with unparalleled convenience, efficiency, and versatility for bill payments, online purchases, payroll deposits, and account transfers. Processing times vary, with options like wire transfers for same-day delivery.
Plooto
NOVEMBER 13, 2024
Financial technology can make life easier for you and your accountant. But do you know how much of an impact NOT adopting fintech can have on your business?
Team Financial Group
NOVEMBER 14, 2024
The road to sustainable business growth is paved with good incremental decisions. It is rare for a business to have all the resources needed to make all the improvements they want at one time. Many improvements require substantial financial investments in equipment or infrastructure, making tiny steps more affordable than giant leaps. The key is choosing steps that are both sustainable and provide greater returns on investment, accelerating the path toward future growth.
CreditStrong for Business
NOVEMBER 15, 2024
If you’re interested in becoming a landlord or buying a home and flipping it for a profit, an investment property loan could help you achieve your goals. But if you’re investing in real estate for the first time, you might be worried that this type of financing is hard to get. It’s true that you may need to jump through more hoops to access loans for real estate investment.
Chaser
NOVEMBER 11, 2024
Cash from financing (CFF) refers to the net amount of cash generated or used by a company through its financing activities, such as issuing or repaying debt, issuing or repurchasing stock, and paying dividends.
Emagia
NOVEMBER 11, 2024
Trade and Receivables Trade and receivables refer to the credit extended by a company to its customers. Understanding trade and receivables is vital for effective cash management. The Role of Trade Receivables Trade receivables represent outstanding payments owed to a business. They are crucial for managing cash flow and working capital. Management of Trade Receivables Efficient management of trade receivables can improve liquidity.
Due
NOVEMBER 12, 2024
A Chicago federal grand jury indicted an Illinois business owner for not paying employment taxes in the region of $600,000, amongst other offenses. These included not filing business tax returns, wire fraud, and giving falsified information and statements on a loan application. The indictment returned centered on Steven Cordell, the owner and operator of Starfish Transportation Inc.
CreditStrong for Business
NOVEMBER 15, 2024
Consumers are generally encouraged to pay extra money to reduce their debts and car loans. Before proceeding to make additional payments toward your car loan, it is important to consider a variety of factors, including your credit history , to ensure it makes sense. Do Extra Payments Go to Principal? In most cases, borrowers should expect that any extra amounts they pay toward their car loan will reduce the principal balance.
blue dot counseling
NOVEMBER 14, 2024
When businesses grow they often outpace their finance function creating an urgent need to improve business accounting. The post Why Your In-House Accounting Team Might Not Be Enough—And How We Can Help appeared first on Blue Dot Consulting.
Emagia
NOVEMBER 11, 2024
Days of Sales Outstanding Days of Sales Outstanding (DSO) is a key metric that measures the average number of days it takes for a company to collect payment after a sale has been made. Understanding DSO is crucial for effective cash flow management. Calculating DSO DSO is calculated by dividing accounts receivable by total credit sales and multiplying the result by the number of days in the period.
Credit Research Foundation
NOVEMBER 15, 2024
For over 75 years the Credit Research Foundation (CRF) has supported Credit Executives in the business-to-business (B2B) world based on two primary principles: (1) provide quality, comprehensive education from “the basics” to the senior credit executive level, and (2) provide an atmosphere that fosters networking with like-minded individuals – the most influential credit and risk management professionals in the industry.
Due
NOVEMBER 10, 2024
A Russian-Swedish national has been sentenced to a jail term for the operation of the longest-running Bitcoin money laundering service on the darknet that processed nearly $500m in funds. For more than ten years, Roman Sterlingov’s platform and service were seen as the go-to money laundering service for criminals seeking to “wash” their ill-gotten gains tied to illegal narcotics, computer crimes, identity theft, and child sexual abuse material.
Eastern Credit Management Services
NOVEMBER 13, 2024
Choosing the right debt collection agency is a crucial decision for businesses looking to recover outstanding payments efficiently and professionally. Here’s a guide on what to consider to ensure you’re selecting a reputable agency that meets your needs in Atlantic Canada. 1. Look for Industry Certifications and Memberships A reliable debt collection agency should have recognized certifications that demonstrate its adherence to industry standards.
Emagia
NOVEMBER 11, 2024
Days to Pay Formula The Days to Pay formula measures the average number of days a company takes to pay its suppliers. This metric is essential for managing working capital and supplier relationships. Why Days to Pay Matters Understanding Days to Pay helps companies optimize their cash flow. A shorter payment period can improve supplier relationships and potentially lead to better payment terms.
Loomis Sayles Credit Research
NOVEMBER 11, 2024
Fiber-optic technology is transforming the way we connect to the internet, and fiber asset-backed securities (fiber ABS) can offer a way for investors to gain exposure to this digital shift. As telecom companies ramp up efforts to expand fiber networks to meet surging demand for high-speed internet, fiber ABS has emerged as a compelling funding solution in the securitized market.
Due
NOVEMBER 13, 2024
A Wisconsin pizza parlor has been fined for underage workers cleaning meat grinders, cleaning hot ovens, and working overtime. The Department of Labor found that Ironbluebear Inc. (Ironblubear), operator of Pizza Parlor, must pay $99,882 in civil money penalties for violating child labor standards. Federal labor laws are strict about the hours young employees can work and the situations in which they can be placed.
CreditStrong for Business
NOVEMBER 15, 2024
As a small business owner, obtaining capital for your business is a top priority. But not all business loans are created equal in terms of what they’re designed to help you do. If you’re looking to purchase equipment to run your business, equipment financing is your best option. Here’s what to know about what equipment financing is, how it works, how much it costs, and the pros and cons to consider before you apply.
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