RMAi Blog

JANUARY 18, 2023

By Michael Magarrell. Time is a valuable resource, especially in a production business. Resources spent dialing, answering, negotiating, and closing payments have measurable value. Resources spent dialing outdated numbers, speaking with wrong party contacts, and buying/using outdated data are measurable expenses. . When determining who to contact first in a dialing strategy, many agencies use a propensity to pay (PTP) or collect score to concentrate on the accounts with the most potential for p

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Your Virtual Credit Manager

JANUARY 17, 2023

Photo by Alex Radelich on Unsplash When small businesses add customers and increase sales, their company’s Accounts Receivable (AR) will grow. Inevitably they will need to initiate Collection activities to recover some of this money owed; in other words, contacting delinquent customers and requesting them to pay your firm for goods and/or services provided on credit terms that have become past due.

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Credit and Collections Accounts Receivable (AR) Days Sales Outstanding Past Due Invoices 246

SAP Credit Management

JANUARY 14, 2023

Registrations for the SAP Inside Track Bengaluru 02/2023 are officially open now! Join us on February 25th, 2023 for a jam-packed day of learning, networking & fun. . When. Mark your calendars for February 25th, 2023 and be sure to arrive early for registration between 8:30 AM – 9:30 AM. The event will run from 9:30 AM – 5:00 PM, giving you a full day to immerse yourself in all things SAP. .

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JANUARY 18, 2023

Looking for practical ways to reach financial success when pursuing a non-conventional career path as a solopreneur? Being a successful solopreneur isn’t simply about having a marketable business idea that can withstand competitors. It is about having a thorough plan and processes in place to see financial growth and stability in the initial year and beyond.

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Credit and Collections Small Businesses 131

RMAi Blog

JANUARY 20, 2023

January 20, 2023 (Sacramento, CA)  – Finvi demonstrates their support of RMAI and the receivables management industry through a Gold sponsorship of the 2023 RMAI Annual Conference. The conference will be held February 6-9, 2023, at the Aria Hotel in Las Vegas. The Annual Conference is an important networking opportunity for professionals in the receivables management industry, kicking off business development conversations at the beginning of the year.

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Law Firms 234

incfile

JANUARY 20, 2023

From small business grants and loans to startup funding and investments and scholarships, there are thousands of funding options available — if you know where to look. Over the years, more money has become available for minority grants to start a business, small business grants for women , and general small business grants.

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JANUARY 20, 2023

It turns out that when the going gets tough, the tough take on side hustles. According to an Insuranks survey from 2022, 93% of Americans have a side job. And their most common reasons for getting into the gig economy aren’t surprising: earning cash and paying bills. Inflation is high , after all, and every little bit counts. Of course, most side gigs aren’t going to bring in millions.

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Eagle Business Credit

JANUARY 20, 2023

A huge challenge to small business growth is cash flow. The majority of small businesses struggle with managing their cash flow, and cash flow issues are the number one cause of small business failure. There have been some rough years for small business owners , and many businesses are still not seeing the same revenue they were before. So, it stands that small business cash flow is hurting.

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Credit and Collections Small Businesses 98

Lendio

JANUARY 19, 2023

Starting a small business is expensive. Almost every small business owner faces startup expenses, whether you’re a solopreneur needing a laptop or a construction company purchasing a lot full of heavy machinery. Inventory and equipment must be bought, employees or contractors must be paid, and rent comes due every month. What’s harder, outside funding is often difficult to access when your company is young but in need of capital.

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Credit Scoring Credit Unions Small Businesses 98

SAP Credit Management

JANUARY 17, 2023

Bitkom President Achim Berg, referring to the association’s latest study , emphasizes that the shortage of skilled workers “could become the main obstacle to digital transformation” and thus underscores the relevance of continuing professional development. Without continuous education and re-skilling, there will not be enough IT specialists to successfully tackle SAP projects.

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Due

JANUARY 14, 2023

In the face of the current adverse economic conditions, many would-be retirees are worried about their financial capacity. Inflation remains elevated, matched with skyrocketing interest rates on borrowing. Financial advisers and personal loan management experts may recommend adding more sources of income to cover their living expenses and loan repayments upon retirement. .

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Insurance Companies Deductions 111

incfile

JANUARY 18, 2023

If you’ve been at your side hustle for six months or longer and have had success, it may be time to turn your part-time business into your full-time job. Perhaps you're confident your side hustle earnings can replace your full-time income, or you find yourself overwhelmed by the time required to keep up with your side hustle and keep your full-time job.

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lsq

JANUARY 19, 2023

Three years ago, Kelley Higney and her mother Ellen McAlister appeared on ABC’s hit show, ‘Shark Tank,’ with an innovative product – and highly entertaining pitch – that led to all the Sharks biting with offers to invest in the business. But it was Lori Greiner’s ‘Golden Ticket’ offer that secured the partnership. By the end of the segment, the duo had secured the funding needed to continue to grow Bug Bite Thing , which is a suction tool that removes insect saliva or venom from underneath the

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SAP Credit Management

JANUARY 16, 2023

SAP Analytics Cloud brings together analytics and planning with unique integration to SAP applications and seamless access to heterogenous data sources. It helps everyone in your organization make decisions without doubt with trusted insights and integrated plans. This blog post introduces the features of the SAP Analytics Cloud 2023.02 release available for SAP Analytics Cloud FastTrack customers.

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Dashboards 203

Gaviti

JANUARY 16, 2023

As a collections team, mailing dunning emails and collecting receivables from customers are routine tasks. While many A/R teams use the same templates and emails, they often fail to review and test various types of messages. But how can you ensure that you are using the most effective workflow possible? – Simple, your marketing department has been doing this for a long time.

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Days Sales Outstanding DSO Payment Portals 98

incfile

JANUARY 17, 2023

"Budgeting" is a word that strikes fear into the hearts of many business owners, but financial gurus and experienced entrepreneurs agree that budgeting is often the key to business success.

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Small Businesses 98

Plooto

JANUARY 16, 2023

Thank you for choosing Plooto for your AP/AR automation needs. Plooto’s payment processing features have helped many businesses like yours streamline their credit card processing , cut costs, and save time.

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AR Automation 98

SAP Credit Management

JANUARY 16, 2023

If you’re anything like me, you’ve probably been working with the SAP Cloud Application Programming Model (CAP) for Node.js for a while now, but you may still feel like you’re only scratching the surface. Well, fear not – in this series of blog posts, I’ll be sharing some tips and tricks on a variety of topics. Whether you’re interested in Unit or Integration tests, enable debugging for your app that contains a Cloud Connector, using TypeScript for CAP, or working w

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Chaser

JANUARY 17, 2023

I am thrilled to share that Chaser has launched a public API (Application Programming Interface), which will provide SMEs worldwide with access to high-performance receivables management tools that can be integrated quickly with any system. Chaser API technology means that regardless of your business’ accounting system or Enterprise Resource Planning (ERP) or accounting system, you can now automate your debtor management process seamlessly in Chaser.

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Abrigo

JANUARY 17, 2023

Automating SMB and commercial lending elevates your customer's experience From making it easier to apply to speeding up loan closings, automation can helps make business lending customers and staff happier. You might also like this on-demand webinar, "Strategies to grow your commercial loan portfolio." WATCH . Takeaway 1 Many financial institutions used a customer portal for PPP, but once the program ended, went back to old manual processes, Takeaway 2 Automating lending provides a secure porta

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Credit Risk Small Businesses 78

Due

JANUARY 19, 2023

What are your plans for your retirement years ? According to the 2022 Transamerica Retirement Survey , the top two retirement goals are “traveling” and “spending more time with family and friends.” But to reach those goals, you’ll need to know how to plan for saving money. Unfortunately, over half (55%) of Americans admit they’re behind in their retirement savings.

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Transactions 85

SAP Credit Management

JANUARY 20, 2023

This is my first Blog so please conisder;-) As a technical sap consultant working for large companies we are facing several challenges concerning big SAP- and HANA-landscapes. There are a lot of automated processes for administrating of these landscapes and this leads to problems in connection with HANA databases. One of these challenges I wan’t to share in the following blog post.

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Chaser

JANUARY 20, 2023

From 6 January, the UK's tax authority, HM Revenue and Customs (HMRC) increased the interest rate it charges on late payments of tax. The rate rose from 5.50% to 6.0%, a significant increase that could impact businesses and individuals who are struggling to pay their taxes on time.

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Lockstep

JANUARY 17, 2023

The Lockstep Team is excited to share some of the latest updates to the world’s first shared inbox designed for accounting, Lockstep Inbox. These enhanced features, included in the free application are designed for you to collaborate more efficiently, connect with customers and vendors smarter, and save you hours of manual processes each and every week.

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Accounting Department

JANUARY 19, 2023

As a business owner, getting paid in full and on time is crucial for a healthy cash flow. However, late payments and bad debts are a constant threat looming over an accounts receivables (AR) team. Accounts receivable reports are a key tool for businesses to manage their AR balances, forecast cash inflow, and stay on top of overdue payments.

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Accounts Receivable (AR) Bad Debt Small Businesses 83

SAP Credit Management

JANUARY 20, 2023

The fourth step in the Waste Management E2E Process for All Countries Blog Series – South African Example is to characterize the waste material for South Africa. In the previous steps, Waste Management E2E Process Blog Series Step 2: Defining a Waste Code Catalogue and Waste Management E2E Process Blog Series Step 3: Waste Containers , we created and defined the waste code catalogue to follow the correct waste disposal procedures for our chosen country/region ( South Africa ) and specified the

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Credit Management Group UK

JANUARY 16, 2023

Here are our top credit management frequent questions for January. What is the most common credit management issue you come across? There are many roadblocks in credit management that will delay payment; this also varies from industry to industry. One of the most common excuses we receive is a customer stating that they have not received their invoice.

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Credit Management 79

Due

JANUARY 16, 2023

With many economists predicting a recession sometime soon, it’s wise to start preparing just in case. There are numerous ways to improve your financial situation regardless of your income level. Here’s how to get started, plus tips on what not to do during an economic slump. The Predicted Recession. There’s growing talk of an economic downturn. With inflation gathering steam and the Fed predicted to push up interest rates in response, the first half of 2023 will likely bring a recession.

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Brokerages 75

Accounting Department

JANUARY 18, 2023

Smart financial planning is something that sets successful growing businesses apart from others. Whether a business is new or growing in size , these 5 tips can be used by business owners to smarten up their business finances and prepare themselves for a successful future.

Small Businesses 81

Small Businesses 81

SAP Credit Management

JANUARY 19, 2023

Optimize your accounts payable with the Invoice Status Portal on SAP Business Network Last August 2022, the SAP Business Network team released the Invoice Status Portal. Available to SAP Business Network for Procurement customers, is a self-service solution that allows suppliers to view their invoice and payment status at anytime, reducing the need to contact their customers.

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