Your Virtual Credit Manager
NOVEMBER 5, 2024
A client, who rented heavy equipment to manufacturers and construction firms across a multi-state market area, was saddled with an accounts receivable (AR) growing faster than revenue. In other words, they weren’t collecting everything being sold. Three staff members handled both customer service and collection duties, while the Controller managed credit.
RMAi Blog
NOVEMBER 5, 2024
Are you passionate about shaping the future of the receivables management industry? RMAI is now accepting candidates for the 2025 board of directors. Serving on the board offers a unique opportunity to drive strategic initiatives, represent our members’ interests, and influence the direction of your association. RMAI is seeking qualified candidates who wish to run for a two-year term on the Board of Directors.
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Due
NOVEMBER 6, 2024
The US Department of Labor has recovered $877K in wages and benefits for employees of New York City federal contractors. Discover Electric Inc., EMG Industrial Chimney Inc., and QNCC Electrical Contracting Corp. were embroiled in an investigation into employees who were underpaid for their work on two New York construction projects. The U.S. Department of Housing and Urban Development funded these projects.
Accounting Department
NOVEMBER 7, 2024
Our final Entrepreneurs' Organization (EO) event of the year, EO XCentric, took place in Fort Worth last week and ADC's Shawn Marcum, fresh off of EO Alchemy, set out to Texas and spend some time with all of the great event attendees.
Abrigo
NOVEMBER 4, 2024
Ongoing monitoring is more than just a regulatory requirement Suspicious activity monitoring is a cornerstone of a robust AML/CFT program, as emphasized in the FFIEC BSA Examination Manual. This critical function helps protect the U.S. financial system from misuse for money laundering, terrorist financing, and other financial crimes. Both FinCEN and federal banking regulatory agencies mandate ongoing monitoring for suspicious activity as part of the overall AML/CFT program.
RMAi Blog
NOVEMBER 4, 2024
Earlier today, the New York City Department of Consumer and Worker Protection (DCWP) published a change to the effective date for the amended New York City Debt Collection Rules that were adopted on August 12, 2024. The new effective date will be April 1, 2025. Previously, the amendments were set to go into effect on December 1, 2024. This change is consistent with the industry’s request for additional time for implementation given the significant changes to the rule.
Credit Management Source brings together the best content for credit management professionals from the widest variety of industry thought leaders.
Credit Management Group UK
NOVEMBER 6, 2024
After establishing my argument as to why telephone conversation can be much more effective than emailing; I have compiled a list of tips for a successful phone conversation that can encourage a positive outcome for your business, no matter what industry. Prepare beforehand for a Successful Phone Conversation Having all the information you have on a particular matter greatly limits the risk that you won’t know the answer questions asked of you; read over any notes and emails you have regarding th
Accounting Department
NOVEMBER 6, 2024
Creating a budget is essential for any business aiming for long-term success. As a business owner or CFO of a small to medium-sized enterprise, you might have faced the difficulties involved in developing and executing a budget.
Chaser
NOVEMBER 6, 2024
Chaser has launched a new integration with Sage 50, an established accounting software designed for small and medium-sized enterprises (SMEs). This new integration aims to help businesses using Sage 50 streamline their accounts receivable processes, reduce overdue invoices, and protect cash flow.
Know-It Global
NOVEMBER 5, 2024
Welcome to the month of November! The dark nights are upon us and now that Halloween is over, it seems acceptable to mention Christmas? In October we have been busy developing our internal systems to make communication with our customers even better, as well as improvements to the Know-it platform! Halloween Celebrations with the Team On Halloween we celebrated with a team party!
Due
NOVEMBER 8, 2024
The conventional career trajectory of Wall Street finance may be undergoing a major shift due to the election and, even more pressing, the growing presence of Artificial Intelligence (AI). Investment banks are renowned for their analyst schemes, which act as a starting point for budding financiers and deliver comprehensive two-year training in all aspects of finance.
Emagia
NOVEMBER 8, 2024
Artificial intelligence (AI) is no longer a futuristic concept—it’s here, and it’s reshaping industries across the globe. That is not to say AI’s emergence in business and finance won’t cause problems if used improperly, warned Wanda Borges, Esq., a legal expert with more than three decades of experience during a recent episode of the Emagia AI for Finance podcast.
blue dot counseling
NOVEMBER 7, 2024
There's very little point in doing any bookkeeping if you can't produce financial information that helps you measure and improve financial performance. The post We did nine months’ bookkeeping in three weeks for a £1m+ business appeared first on Blue Dot Consulting.
Collenda
NOVEMBER 7, 2024
Navigating Economic Challenges: Aryza Group’s Insights on Q3 2024 Insolvency and Lending Trends Aryza Group is pleased to share its analysis of recent trends in the individual and company insolvency market in England, Wales, and Northern Ireland from July to September 2024, based on the latest data released by the Insolvency Service. Personal Insolvency The total number of individual insolvencies in the third quarter of 2024 reached 31,276, up from 24,458 during the same period in 20
Due
NOVEMBER 8, 2024
Two brothers have been convicted of Medicare, Medicaid, and Private Insurer Fraud related to prescription medication claims. Raad Kouza, a pharmacist, and Ramis Kouzza collectively caused Medicare, Medicaid, and Blue Cross Blue Shield of Michigan to lose over $15 million. Two brothers charged for pharmacy claims corruption of over $15 million Information disclosed as part of the investigation and court proceedings showed the two men based in Michigan billed Medicaid and Blue Cross Blue Shield of
Emagia
NOVEMBER 8, 2024
The Road to AI-Driven Efficiency Generative AI can significantly reduce time spent on routine tasks, allowing employees to focus on higher-level work. By automating processes like data entry and initial email drafts, AI enables employees to become reviewers and decision-makers rather than simply task executors. Identifying key accounts Flagging accounts for follow-up Drafting customer emails Generative AI has evolved significantly since Mark Shank’s early days at KPMG, where it was used for pred
Waystar
NOVEMBER 6, 2024
This fall, hundreds of healthcare finance leaders and Waystar clients met for the annual Waystar True North Conference. Over three days, attendees discussed important issues such as leveraging AI, safeguarding data, and managing rising transaction volume. They uncovered key software advancements that are simplifying healthcare payments through dozens of sessions, workshops, and events.
TMC Financing
NOVEMBER 5, 2024
Bridging the Gap: How the SBA 504 Loan Program Helped Edmond Group LLC Secure Their Business’s Future John and Susana Edmond, co-founders of Edmond Group LLC, a strategic communications and. The post Bridging the Gap: How the SBA 504 Loan Program Helped Edmond Group LLC Secure Their Business’s Future appeared first on TMC Financing.
Due
NOVEMBER 8, 2024
The Federal Reserve’s recent decision to cut interest rates has dealt a significant blow to traditional low-risk investments. Holders of Certificates of Deposit (CDs), money market accounts, short-term treasury bills, and high-yield savings accounts are feeling the pinch as their yields diminish. With the average 1-year CD currently yielding 3.7% (approximately 2% after taxes) and the Fed forecasting another 1% cut over the next year, investors are left searching for alternatives.
Plooto
NOVEMBER 5, 2024
Most small business owners don’t become entrepreneurs because they love managing finances. That’s why accountants and bookkeepers are so crucial to successfully running a business. Their relationship is an essential part of how SMBs achieve efficiency, scale, and control over their financial operations.
Waystar
NOVEMBER 6, 2024
This fall, hundreds of healthcare finance leaders and Waystar clients met for the annual Waystar True North Conference. Over three days, attendees discussed important issues such as leveraging AI, safeguarding data, and managing rising transaction volume. They uncovered key software advancements that are simplifying healthcare payments through dozens of sessions, workshops, and events.
Cpcmcredit Blog
NOVEMBER 5, 2024
Many of you will be well aware of the recent court ruling regarding disclosure of commissions to brokers in the area of car finance. This has now reverberated around the asset finance market with perhaps a little overreaction from some lenders and a telling silence from others I know of at least one lender who is refusing to take on new business until this issue is resolved in their own minds whilst others have set in motion new procedures where by the brokers commission is advised to their clie
Due
NOVEMBER 7, 2024
Mississippi District Attorney Mayor and Council member were charged with bribery and corruption. Hinds County District Attorney Jody E. Owens II, Chokwe Antar Lumumba, Mayor of Jackson, Mississippi, and former President and current member of the Jackson City Council Aaron Banks, were all the subject of an indictment that was unsealed in the Southern District of Mississippi.
Gaviti
NOVEMBER 4, 2024
Whether due to error, financial trouble or the non-delivery of goods or services, disputes are unavoidable in the world of accounts receivable. Traditionally, they are managed through a lengthy, tedious manual process that lacks visibility into the process in real time. As companies scaled and these disputes increased, however, businesses started to turn to dispute automation for a more efficient dispute management process for collections and dispute management.
blue dot counseling
NOVEMBER 4, 2024
Can AI generate insights into your business that people can't? The post Do small businesses have enough data to make AI insights useful? appeared first on Blue Dot Consulting.
Cpcmcredit Blog
NOVEMBER 5, 2024
Im not sure whether awards have actually been given out but this site has nominated “best” invoice finance providers in. nine different categories. Here are the results 1. Kriya – Best for its straightforward, user-friendly approach 2. Growth Lending – Best for international companies 3. Skipton Business Finance – Best for its interest-free invoice finances 4.
Due
NOVEMBER 7, 2024
Don’t feel bad if you haven’t started planning for retirement yet. While undoubtedly stressful, you’re far from alone. In the 2024 Annual Retirement Survey , Allianz Life finds that 56 percent of Americans have no solid financial plan for retirement. The survey, conducted in February and March of this year, also found that nearly half (48 percent) of over-25s worry about living too frugally and not enjoying retirement enough.
Credit Tools
NOVEMBER 4, 2024
A discipline that remains little known to the general public, credit management is nevertheless at the intersection of a company's commercial and financial issues. So what is it?
Lendio
NOVEMBER 4, 2024
November 4, 2024, Lehi, UT – Lendio’s Q3 2024 SMB Lending Index highlights a cautiously optimistic lending market, showing a modest rise in small business access to capital. Despite easing credit criteria, sentiment remains divided, with lenders expressing optimism about future growth, while small business owners report ongoing concerns about financing accessibility.
CreditStrong for Business
NOVEMBER 8, 2024
Credit cards are powerful tools, and almost 70% of small businesses use them each month. 1 Understandably so, as they can help facilitate sales and purchases, separate personal and business funds, and build your business credit scores. However, you don’t get all those benefits for free. You’ll have fees to pay whether you’re paying with credit cards or accepting them as payment from customers.
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