Credit Research Foundation

SEPTEMBER 27, 2024

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.

Days Sales Outstanding 195

Days Sales Outstanding DSO Bad Debt Default 195

RevCycle

SEPTEMBER 25, 2024

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

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RMAi Blog

SEPTEMBER 27, 2024

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.

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Your Virtual Credit Manager

SEPTEMBER 24, 2024

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.

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Accounts Receivable (AR) Credit and Collections Credit Management Credit Risk 130

Abrigo

SEPTEMBER 23, 2024

Recent loan rate trends from Abrigo Connect Carefully monitoring interest rate trends for loans will help financial institutions remain competitive as rates drop. Would you like other articles like this in your inbox? Data for banks & credit unions Real-time pricing trends for loans Now that the Fed has lowerered interest rates , financial institutions will want to carefully monitor current loan interest rate trends in their markets to remain competitive as rates drop.

Credit Unions 88

Credit Unions Credit Risk Credit and Collections Small Businesses 88

Due

SEPTEMBER 24, 2024

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.

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Enterprise Recovery

SEPTEMBER 27, 2024

Building trust is paramount in the debt recovery process, and communication is the foundation of trust. Clients are more likely to cooperate and engage positively when informed about the collections process and their options. Clear and honest communication helps to demystify the debt recovery process, reducing any anxiety or confusion the client may have.

Debt Collections 82

Debt Collections 82

Abrigo

SEPTEMBER 24, 2024

When AI complements human decision-making Human oversight, often called a human-in-the-loop approach, remains important as AI increasingly enhances AML/CFT software. You might also like this checklist, "6 steps for compliance with the new AML/CFT program rules." DOWNLOAD Takeaway 1 A human-in-the-loop approach plays a vital role in ensuring that AI systems effectively support alert and case management for AML/CFT suspicious activity monitoring.

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Transactions 78

Accounting Department

SEPTEMBER 26, 2024

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.

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RMAi Blog

SEPTEMBER 25, 2024

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.

Credit Reporting Agencies 130

Credit Reporting Agencies Medical Billing Debt Collections Credit and Collections 130

Enterprise Recovery

SEPTEMBER 24, 2024

With the announcement that the Federal Reserve cut interest rates by half a percentage point, inflation and interest rates are a primary news topic. If you own a small business, these economic fluctuations can have significant impacts. Understanding these cycles is vital to anticipate changes in the market and adjust business development strategies accordingly.

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Small Businesses 81

Abrigo

SEPTEMBER 23, 2024

Critical practices for individuals and organizations to protect their data The National Public Data breach serves as a reminder to all of us that proactive measures are necessary to safeguard our personal information. You might also like this whitepaper: "Protecting banking customers starts with you." DOWNLOAD Takeaway 1 The National Public Data breach exposed over 2.7 billion records and is a reminder to be proactive when safeguarding your data.

Cybersecurity 78

Cybersecurity Credit Unions Credit and Collections Default 78

Credit Management Group UK

SEPTEMBER 24, 2024

We have recently introduced three new live online training courses. Our third one we would like to introduce is for anyone working in the Commercial Industry. There is currently and introductory offer of £99 + vat. Commercial Awareness Training Who will benefit? Anyone who would benefit for a greater understanding of contract law and how to practically apply it to their role and business to reduce risk and improve cashflow.

Credit Management 71

Credit Management 71

TreviPay

SEPTEMBER 25, 2024

Enhanced integration capability for commercial equipment dealers will enable seamless, convenient onboarding and line-item transaction details for fleet programs OVERLAND PARK, Kan., September 25, 2024 — TreviPay , the most-trusted B2B payments and invoicing network, today announces enhancements for dealer management systems for commercial equipment dealers servicing fleets.

Order to Cash 59

Order to Cash Transactions 59

Chaser

SEPTEMBER 23, 2024

I am thrilled to share that Chaser has been shortlisted for the AI in FinTech Award at The Global FinTech Awards 2024. In their inaugural ceremony, the Global FinTech Awards 2024 will be recognizing and celebrating innovative solutions in the financial services and fintech industries, honoring organizations that demonstrate exceptional creativity, technologically advancements, and industry leadership.

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Accounting Department

SEPTEMBER 24, 2024

Last week, Andrea and Mike of AccountingDepartment.com's Marketing Team, traveled to Boston for HubSpot's INBOUND show.

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Grit

SEPTEMBER 27, 2024

Retailers and shoppers are gearing up as Black Friday approaches, and for BigCommerce store owners, the countdown to this massive shopping event is key to boosting traffic and sales. Black Friday is all about incredible deals, and much of the action has shifted online recently. In 2020, despite supply chain disruptions, 49% of orders were placed on desktops, with 43% coming from smartphones — highlighting the growing importance of mobile shopping.

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CreditStrong for Business

SEPTEMBER 27, 2024

If you put down less than 20% on a conventional home loan, your lender will charge you private mortgage insurance (PMI) in addition to the principal and interest portions of your mortgage payment. It protects them if you ever default. If you take out an FHA loan, you have to pay a mortgage insurance premium (MIP) regardless of your down payment size.

Credit Scoring 52

Credit Scoring Default 52

Due

SEPTEMBER 27, 2024

Investing in the stock market is a labyrinthine journey that demands a profound comprehension of financial markets, economic trends, and the performance of individual companies. It’s a game of strategy, patience, and knowledge. Yet, there’s a common misconception among investors that purchasing individual stocks is a guaranteed path to profit.

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FundThrough

SEPTEMBER 26, 2024

September 27, 2024 – Toronto, ON FundThrough is pleased to announce it has ranked No.138 on the 2024 Report on Business magazine’s ranking of Canada’s Top Growing Companies. Canada’s Top Growing Companies ranks Canadian companies on three-year revenue growth. FundThrough earned its spot with three-year growth of 312%. “For the last three years, our team […] The post FundThrough places No, 138 on The Globe and Mail’s sixth annual ranking of Canada’s Top Growing Companies

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Reorg Blog

SEPTEMBER 26, 2024

The post Star Entertainment Lenders Provide Commitment for Up to AUD 200M New Debt Facility at All-in Coupon of 13.50%; Co. Expects to Publish FY’24 Results on Sept. 26 appeared first on Reorg.

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CreditStrong for Business

SEPTEMBER 27, 2024

Acquiring a diverse set of tradelines is one of the primary steps of the credit-building process. As a result, you need to understand the term thoroughly if you want a good credit score. Here’s a comprehensive guide to everything you should know about consumer tradelines, including what they are, how they work, and why they matter. What Is a Tradeline and How Do They Work?

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Credit Scoring Credit Reporting Agencies 52

Due

SEPTEMBER 27, 2024

Are you struggling to save money ? You’re not alone. According to Bankrate polling, 27% of U.S. adults had no emergency savings in 2024. This is the highest percentage since Bankrate asked the question in 2020. But what if there was a way to make saving fun and engaging ? Enter the 200-envelope challenge. This popular method makes saving more enjoyable by gamifying it.

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Lendio

SEPTEMBER 25, 2024

Perhaps your restaurant has lines snaking out the door. Or your tax business has identified a prime market in another city. Or your medical practice has more patients than the available space can accommodate. Maybe you just have enough capital to support immediate business expansion. Scenarios like these certainly indicate that another location would be great.

Small Businesses 52

Small Businesses 52

Reorg Blog

SEPTEMBER 25, 2024

The Monetary Authority of Singapore announced on Sept. 23 that it has directed Qoo10 Pte. Ltd., the parent entity of Qxpress, to suspend the provision of all payment services covered under the Payment Services Act 2019, or PS Act effective immediately.

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CreditStrong for Business

SEPTEMBER 27, 2024

Tradelines are any credit accounts that show on your credit report. These include personal loans, auto loans, credit cards, mortgages, and more. Adding tradelines to your credit history could create a credit score increase of 20 to 100 points. It does this by affecting credit score factors like your payment history, credit utilization, and length of credit history.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Card Companies 52

Due

SEPTEMBER 26, 2024

Acadia Healthcare Company Inc. (Acadia) has agreed to settle a lengthy court battle and pay a $19.85m financial penalty after false Medicare and Medicaid claims. The monetary fine resolves allegations that Acadia knowingly violated the False Claims Act by billing federal healthcare programs for unnecessary inpatient behavioral care. Acadia Healthcare pay the price for False Claim breach Between 2014 and 2017, the Justice Department alleged that healthcare providers had submitted illicit claims f

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Grit

SEPTEMBER 24, 2024

Backorder processing can be a time-consuming and error-prone task for many businesses. However, this process can be streamlined and automated with the right tools and strategies. In this post, we’ll explore using the BackOrder app, a powerful automation solution, to simplify your backorders workflow. By following these steps, you’ll be able to reduce manual work, minimize errors, and improve customer satisfaction.

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Know-It Global

SEPTEMBER 24, 2024

Dealing with a customer who has gone into liquidation or closed their business while owing you money is one of the most challenging situations a business can face. Unfortunately, it’s not uncommon, and the consequences can be severe—impacting your cash flow, profitability, and even the overall sustainability of your business. However, with the right strategies in place, you can minimise the risk of finding yourself in this difficult position.

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Bankruptcy Credit Scoring Deductions 52

CreditStrong for Business

SEPTEMBER 27, 2024

It’s not every day you recognize an excellent business opportunity in the form of acquiring another business. When you come across this chance to own a profitable business or expand your company, you have to strike while the iron is hot! But what if you don’t have the capital on hand to make it happen? That’s what business acquisition loans are for.

Credit Scoring 52

Credit Scoring Credit Unions Small Businesses 52