Sat.Feb 25, 2023 - Fri.Mar 03, 2023

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RMAI Expands National Certification Program to Include Commercial Debt

RMAi Blog

Launches Certification Version 11.0 March 2, 2023 (Sacramento, CA)  – The RMAI Certification Council announces the adoption of version 11.0 of the Receivables Management Certification Program (RMCP) after a lengthy development and review process. Several significant enhancements were added to the program in version 11.0, including: Expanding the program to include commercial debt.

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Are Early Payment Discounts a Good Idea in Today’s Economy?

Your Virtual Credit Manager

Photo by Jordan Ladikos on Unsplash A Prompt Pay Discount , also referred to as an early pay discount, provides your customers with the choice of paying invoices at a discount by the discount date or paying the full amount by the due date. Discounts typically range from half a percent to 2 percent. Discount dates are usually set for 10 to 15 days after the invoice date, though sometimes longer when the due date is beyond 30 days.

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Increase Your Digital ROI in 2023 with These Advertising Trends

Due

The digital advertising space has changed a great deal in the past few years, driven by changing technology, digital privacy regulations, safeguards that affect ad strategy , and sharp shifts in consumer and business behavior. Add to all this a significant pullback in digital advertising spend, and it’s clear why marketers face a truly disorienting landscape.

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Meet The 2023 FICO Decisions Awards Winners!

FICO Blog

Home Blog FICO Meet The 2023 FICO Decisions Awards Winners! 15 companies recognized for successful innovation in AI, machine learning and decision management Saxon Shirley Mon, 02/27/2023 - 08:09 by Nikhil Behl expand_less Back To Top Mon, 02/27/2023 - 08:00 2023 FICO Decisions Award Winners - Decisions That Matter It's with great enthusiasm that I reveal the victors of the 2023 FICO® Decisions Awards !

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*Sponsored Post* Download TransUnion’s New Survey, “Charting the Course and Steering Toward Success”

RMAi Blog

*Sponsored Post by TransUnion* Get a first look at the trends, challenges and opportunities reshaping the third-party collections industry. We invite you to download the annual survey — Charting the Course and Steering Toward Success — conducted by TransUnion and the Aite-Novarica Group. Some standout takeaways include: One-third of Americans have at least one collection tradeline Consumer sentiment took a deep dive, hitting a historic low of 50 Nearly 35% of companies collected tenant-related d

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Cash Flow Projections: Strengthen the Financial Future of your Business

Plooto

For businesses of all sizes, managing an organization’s cash flow is an essential ingredient for success. For a business to successfully manage its cash flow , it must first understand its current cash flow standing and consequently project how cash flow will look in the future.

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25 Ways You’re Killing Your Savings: STOP Making These Mistakes

Due

Like it or not, financial pitfalls are a part of life. Financial mistakes can happen even with the best of intentions. However, it is not all about making mistakes. It’s also about the opportunities you don’t take advantage of. Even so, it’s never too late to learn from these mistakes, and it’s never too soon to avoid them. With that said, in this article, we’ll look at 25 ways you’re killing your savings and how to avoid them.

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RMAI Launches New Educational Resource, An Overview of Bankruptcy for the Accounts Receivables Management Industry

RMAi Blog

March 1, 2023: Receivables Management Association International (RMAI) is pleased to launch another new educational resource for the accounts receivables management industry, An Overview of Bankruptcy for the Accounts Receivables Management Industry. Within the ever-changing world of recovery management, bankruptcy cases and account management require a specialized understanding of the complexities involved with minimizing risk while maximizing cash recovery.

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Paint Manufacturer Turns to LSQ to Manage Seasonality

lsq

ORLANDO, Fla. (March 7, 2023) – LSQ , a leading provider of working capital and payments management solutions, recently originated an $8 million credit facility for a Texas-based paint and paint products manufacturer and distributor. The company, which also has retail operations, will use the additional working capital to manage seasonality within their industry and build inventory for upcoming peak demand.

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The Benefits of Working Part-Time in Retirement

Due

The notion of working in retirement may seem paradoxical, but it is not. Although you may have moved beyond your primary career, you should still devote a part of your week to some type of money-making activity. It is possible to round out your schedule and add satisfaction to your retirement through part-time, freelance , or consulting work. Furthermore, there are financial benefits as well.

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Compare the Best Small Business Loans

incfile

Just about every entrepreneur has heard the saying, "You need to spend money to make money." Granted, that doesn't mean you need to spend more than you can afford, but it does mean you might need to invest in your business to ensure its success.

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Member Alert: RMAI Debt Buyer Licensure Bill Signed into Law in Wyoming

RMAi Blog

On February 27, 2023, Wyoming Governor Mark Gordon signed into law House Bill 284 by Representative Tom Walters that requires debt buyers be licensed as collection agencies in Wyoming as of July 1, 2023. The term “debt buyer” is defined as “any person that is regularly engaged in the business of purchasing charged-off consumer debt for collection purposes, whether the person collects the debt, hires a third party for collection of the debt or hires an attorney for collection litigation.

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LSQ Creates $1.5MM Accounts Receivable Finance Facility for Pet-Food Wholesaler

lsq

ORLANDO, Fla. (February 27, 2023) – LSQ, a leading provider of working capital and payments management solutions, recently originated a $1.5 million credit facility for a Connecticut-based pet-food wholesaler. The company will use the additional working capital to support growth and manage sales and inventory seasonality. As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management.

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Improve Your Money Skills in 8 Minutes a Day

Due

A healthy lifestyle goes beyond just taking care of your mental, emotional, and physical well-being. It is also important to practice financial self-care — especially if you want to save or pay off debt. Additionally, it can help avoid unwelcome surprises, such as missed due dates or unexpected expenses. Developing a daily financial self-care routine, however, will help you instill long-term, positive money habits.

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??????RaceFX: Accelerating B2B Sales with BackOrder

Grit

RaceFX: Accelerating B2B Sales with BackOrder With BackOrder functionality, customers [.] can place their orders regardless of current stock levels, with the added assurance that their products have been reserved. Lee Nickson - RaceFX eCommerce Coordinator Try BackOrder Now Problems Product unavailability affected B2B sales and trust Wasted time and resources spent on restocking management Limited scalability in traditional methods Solutions BackOrder allows customers to purchase beyond out-of-s

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FLOCK Invests in Data Science and Information Technology

RMAi Blog

ATLANTA , Feb. 17, 2023 /PRNewswire/ — FLOCK Specialty Finance announces a strategic investment in technology and human capital related to data-driven insights and innovation. “Our investment in an analytical platform is foundational to our commitment to provide best-in-class support to our customers and our investors. The FLOCK analytics platform enables operational efficiencies, improved insights, and opportunities for data-driven innovation.

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How to Report FCRA Violations on Your Credit Report

Credit Absolute

The Fair Credit Reporting Act (FCRA) was passed to assure the privacy, accuracy, and best use of each American’s credit information. Specifically, Credit Reporting Agencies (CRA), collectors, and lenders are cautioned against misusing or misreporting consumer information. If any of your rights are violated, per the act, you have legal recourse to report the party […] The post How to Report FCRA Violations on Your Credit Report appeared first on Credit Absolute.

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AccountingDepartment.com is 19!

Accounting Department

AccountingDepartment.com is 19 years old today. Wow. When I started here in November of 2013, we were rapidly approaching our 10 th anniversary and faced with the first big “but how do we celebrate this milestone” question. Of course, as the years have passed these questions have come at various intervals celebrating both time and event-based achievements—but the excitement and celebration grows with each one.

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What Should You Do When Considering Invoice Finance?

Credit Management Group UK

Considering invoice finance for any business should take a substantial amount of evaluation as to the best solution for your business, or if invoice finance is even right for your business. It is not a decision to take lightly as this will ultimately affect the cash flow of your business, so you need to be sure that whatever you decide will positively impact cash flow rather than negatively.

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VeriFacts Gears Up For YMCA Spinathon

RMAi Blog

STERLING, IL – VeriFacts , a leading location and employment verification service provider for the receivables industry, is firmly rooted within our community and takes great responsibility and commitment to giving back. VeriFacts is proud to have a team that works hard and also plays hard. For the fourth year in a row, the VeriFacts team will participate in the YMCA Spinathon helping support thousands of children in the area get involved in afterschool programs, sports, and even summer ca

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Waystar Advisory Board: Insights + takeaways from our 2023 virtual summit

Waystar

The Waystar Advisory Board recently held its first meeting of 2023. This network of experienced healthcare executives comes together regularly to connect, collaborate, advocate, and advise on market and industry challenges. Our first meeting of 2023 was a vibrant virtual event. The group focused on Waystar innovations, how smart technology solves market challenges, and how to make a lasting impact in the industry.

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FinCEN’s check fraud alert: Ten red flags you should know

Abrigo

Ten red flags to help you identify check fraud A financial institution's guide to identifying mail-related check fraud. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." REGISTER now Takeaway 1 Check fraud is one of the more common methods of stealing funds from consumers and businesses. Losses from check fraud total $18 billion annually, representing more than a million checks daily.

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Reorg Litigation Coverage: AMC Entertainment

Reorg Blog

The post Reorg Litigation Coverage: AMC Entertainment appeared first on Reorg.

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Why QuickBooks is good with Lockstep Inbox

Lockstep

If you’re an accountant, then you know that QuickBooks Online a popular accounting and financial software. But what you might not know is that QuickBooks Online works even better when you use it with Lockstep Inbox. Here’s why: Lockstep Inbox is the only shared inbox designed for accounting. Seamlessly connected into QuickBooks Online and Outlook, Inbox creates efficiencies and improves accounting activity workflows.

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Rare Disease Day Hits Home with AccountingDepartment.com

Accounting Department

Rare Disease Day is the globally-coordinated movement on rare diseases, working towards equity in social opportunity, healthcare, and access to diagnosis and therapies for people living with rare diseases.

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Why banking technology makes sense – recession or not

Abrigo

Banking technology decisions now affect future growth With the possibility of a recession, community financial institutions may consider a delay or cut in technology spending. Experts say that would be a mistake. You might also like this whitepaper, "Best practices for purchasing bank or credit union software" DOWNLOAD Takeaway 1 As Southwest Airlines learned, technology shortcomings create enormous costs in the short-term and in the future.

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25 Ways You’re Killing Your Savings: STOP Making These Mistakes

Due

Like it or not, financial pitfalls are a part of life. Financial mistakes can happen even with the best of intentions. However, it is not all about making mistakes. It’s also about the opportunities you don’t take advantage of. Even so, it’s never too late to learn from these mistakes, and it’s never too soon to avoid them. With that said, in this article, we’ll look at 25 ways you’re killing your savings and how to avoid them.

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More Greensil trouble for Credit Suisse

Cpcmcredit Blog

This is the story which is going to run for many years to come and whilst the detail might be a bit dry for some, there are interesting unanswered questions, the most significant of which is what incentivised the Credit Suisse employees to take such extraordinary risks? Throughout the whole saga, catalogued brilliantly in the superb Pyramid of lies , certain parties have taken risks which are simply baffling.

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Leveraging Cloud-Based Tech to Support Your Business

Accounting Department

Cloud-based technology has altered how modern-day businesses operate. From management to finance, everything has a place when it comes to recent software technology offerings. This goes for accounting as well. With the current technology and service offerings on the market, accounting is becoming simpler and much more effective for business owners.

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Smishing: Text messaging fraud and how to avoid it

Abrigo

Preventing SMS phishing, or "smishing: A financial institution's guide to smishing scams, why they work, and how to avoid them. You might also like this webinar, "Proactive measures to protect against check fraud and fraud loss." REGISTER now Takeaway 1 Phishing is not a new fraud trend, but the rise of smartphones means text messaging fraud is becoming more common.

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Aryza announces two senior appointments in Canada and North America as global expansion continues

Collenda

Aryza announces two senior appointments in Canada and North America as global expansion continues Aryza, expert developers of software solutions for the insolvency, credit and debt recovery sectors, has appointed two new senior hires in Canada and North America. Mark Roberts as head of business development Canada and Tanner Forster as chief technology officer in Canada, a move that further strengthens the global position of the company.

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Waystar Advisory Board: Insights + takeaways from our 2023 virtual summit

Waystar

The Waystar Advisory Board recently held its first meeting of 2023. This network of experienced healthcare executives comes together regularly to connect, collaborate, advocate, and advise on market and industry challenges. Our first meeting of 2023 was a vibrant virtual event. The group focused on Waystar innovations, how smart technology solves market challenges, and how to make a lasting impact in the industry.

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Everything you need to know about invoicing in arrears

GoCardless

Learn more about the invoice in arrears meaning and uses.

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Spend Control: Meaning and Best Strategies

NorthOne

As a small business owner, there’s always a temptation to spend money to establish and grow your business. While investing in growth is important, so is making sure your money is being maximized and your spending is sustainable. This is where spend control can have a big impact within your company. Below, we’ll share insights and advice so you can implement spend controls with confidence.

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Improving performance management in an arrears portfolio

Collenda

Improving performance management in an arrears portfolio Martijn Groot, collections control specialist at Aryza, discusses how technology can help credit managers in banks and other institutions to drive efficiency and improve their performance management processes. With many consumers cutting back on everything but the essentials and businesses grappling with lower consumer spending – alongside rising costs, the number defaulting on their pre-agreed payment arrangement is only set to increase.

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How to Build Credit: The Ultimate Guide

CreditStrong for Business

Your credit impacts your life in more ways than you might think. Not only can a bad score limit your access to affordable financing, but it can also be a red flag to prospective employers, landlords, and even romantic partners 1. Fortunately, no credit score is so low that you can’t fix it. If yours isn’t quite where you want it to be, here’s everything you need to know about how to build credit. 1.

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How to Choose Between Restaurant Finance Options

biz2credit

One of the most common small businesses in America is restaurants. Restaurants, whether family-owned or franchise-owned, represent the core of what it means to run a small business. Small business owners connect with their communities and customers by establishing great relationships through serving great food. Running a small business restaurant is by no means easy, … Continue reading "How to Choose Between Restaurant Finance Options" The post How to Choose Between Restaurant Finance Opti