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We often talk about the importance of having an efficient and effective collection process and how, from a process improvement perspective, collections automation provides substantial benefits. We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the credit application.
Digital transformation and company expansion are great, but if you dont take the proper security precautions, you can find yourself a victim of fraud. Accounts receivable fraud is becoming an increasingly pressing threat for businesses of all sizes, especially companies that grow or make a lot of changes. This article examines the rising threat of fraudulent activities targeting accounts receivable, the necessity of a robust fraud prevention strategy, common fraud schemes that businesses must be
Generative AI and the new loan review process The evolution of banking and risk management over the past few decades has been nothing short of remarkable. From paper-ledger loan reviews to digital spreadsheets and now to artificial intelligence, each leap has brought efficiencies that reshape how financial institutions assess credit risk. Generative AI in credit risk management is the latest step forward , offering a transformative approach to loan review.
March has arrived! As we approach Spring, we have been working on key updates for our users and helping businesses to adapt to the new UK Interest Rate. Read all about what weve been up to below! Sign Into Know-it on Mobile! In February we made an exciting announcement to make your Know-it experience even better! Know-it is now available on your phone browser meaning you can manage your credit control on-the-go.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
It is not uncommon for the financial world to feel turbulent at times. Youve probably read headlines about bank seizures and bailouts, such as the FDICs takeover of banks and Credit Suisses multi-billion dollar rescue. Understandably, this would raise concerns about the safety of our investments. You might wonder what these events mean if you have your money in a bank or invested through a brokerage firm.
Introduction to Automated Invoice Processing Software Automated Invoice Processing Software refers to technology solutions designed to handle the entire lifecycle of vendor invoices without manual intervention. These solutions utilize advanced technologies such as Optical Character Recognition (OCR), Artificial Intelligence (AI), and Machine Learning (ML) to capture, validate, and process invoice data efficiently.
Introduction to Automated Invoice Processing Software Automated Invoice Processing Software refers to technology solutions designed to handle the entire lifecycle of vendor invoices without manual intervention. These solutions utilize advanced technologies such as Optical Character Recognition (OCR), Artificial Intelligence (AI), and Machine Learning (ML) to capture, validate, and process invoice data efficiently.
In today's fast-paced and data-driven world, the business information marketplace is crucial in supporting a wide range of use cases. This marketplace offers valuable insights and data that empower businesses to make informed decisions, enhance their operations, and ensure compliance with regulatory requirements. (Photo by Chris Yang on Unsplash ) After 42 years with one of the major business information players, Dun & Bradstreet, and another 4 years consulting, where I help business informa
Reading Time: 5 minutes Financial technology can help banks simplify and streamline the small business lending process. However, many banks arent taking advantage of it. According to the 2024 Federal Deposit Insurance Corporation (FDIC) Small Business Lending Survey , 31% of banks are leveraging fintech to streamline small business lending, Banks and financial institutions can level up their lending experience and reduce bottlenecks by investing in the right software.
There are about 359 million businesses worldwide, with an average of 10 million new businesses annually. Let that sink in. Competition is rife in every industry, making standing out much harder. This reality burdens every business with the responsibility to find unique ways to attract more eyes, engagement, and sales for their products and services.
The Accounts Receivable (AR) Process Cycle is a fundamental component of a company’s financial operations, encompassing the series of actions taken to manage and collect payments owed by customers for goods or services provided on credit. A well-structured AR process ensures timely cash inflows, maintains healthy cash flow, and fosters strong customer relationships.
From a Press Release Dated January 14, 2025, Los Angeles, CA & Tuscon, AZ (Photo by Çağlar Oskay on Unsplash ) Caine & Weiner (C&W) and BARR Credit Services (BARR) announced their strategic merger, creating a premier global accounts receivable management solutions provider. This union brings together two industry leaders, each with over 90 years of experience, to form a powerhouse in the accounts receivable management sector.
In today's world, being in debt is all too common, and navigating the legal system can be overwhelming. Courts exist to protect both creditors and debtors, but when someone fails to show up, the implications can be dire.
GoCardless commissioned the Federation of Small Businesses to survey 2,298 UK small businesses. Our new insights explore the wider issues caused by late payments and how businesses are currently navigating them.
Introduction to SOFR Interest Rate The Secured Overnight Financing Rate (SOFR) has emerged as a pivotal benchmark in the financial landscape, especially after the transition from the London Interbank Offered Rate (LIBOR). Understanding SOFR is crucial for financial professionals, investors, and borrowers alike, as it influences a myriad of financial instruments and agreements.
Enjoy a brief introduction to Trade Credit & Liquidity Management. We’ll explain where we’re coming from and where we’re headed, review the different types of content you can expect, discuss how we will share the ins and outs of managing the order-to-cash process, and deliver deep insights into how cash flow is generated.
When unforeseen circumstances lead to financial struggles, managing debt can become a daunting challenge. Bills may pile up, payments might be missed, and before you know it, a once-manageable obligation spirals out of control.
February 10-13, 2025 in Las Vegas, NV. The Exhibit Hall was the perfect venue for meeting up with old friends and new. The Saukus Group lounge area was a front an center by the registration desks. Giant Beer Pong during the Speedway Social was a fun way to end Wednesday night. The 2025 Annual Conference had the attendees all smiles when they got to see their friends.
Introduction In today’s fast-paced business environment, finance teams are under constant pressure to streamline operations, improve cash flow, and reduce errors in accounts receivable (AR) processes. One technology that has been a game-changer in this space is Automated Invoice Matching Software. This innovative solution enhances efficiency by automating the process of verifying invoices against purchase orders, receipts, and contracts, eliminating manual errors and speeding up payment cy
Innovative financing solutions aim to streamline B2B payments, unlock B2B spend for sellers and drive growth in e-commerce OVERLAND PARK, Kan., March 5, 2025 HSBC is collaborating with global B2B payments and invoicing network TreviPay with the aim to enhance digital purchasing experiences for businesses by offering flexible payment options and financing solutions at the point of sale.
In the complex world of finance, debt collection is a significant aspect that affects individuals and businesses alike. When debts become delinquent, creditors often turn to debt collectors to recover unpaid amounts.
In todays fast-paced digital economy, business owners rely heavily on financial tools and services to manage cash flow, track expenses, and handle accounting needs. However, over-reliance on any single platform can put businesses at significant risk.
Business-to-Business (B2B) payments software refers to digital solutions designed to facilitate, manage, and streamline financial transactions between businesses. These platforms automate processes such as invoicing, payment processing, and reconciliation, enhancing efficiency and accuracy in corporate financial operations. Introduction to B2B Payments Definition of B2B Payments B2B payments are transactions conducted between two businesses, encompassing payments for goods or services rendered.
Learn the ins and outs of Regulation E Even if youre not in the banking industry, you've likely heard the term Regulation E compliance (Reg E). Reg E was created to protect consumers using electronic payment systems. While it may sound complex, understanding its requirements is essential for avoiding costly penalties and protecting your financial institutions members and clients.
Facing a debt collection lawsuit is a stressful experience. Many individuals find themselves in this situation, often feeling overwhelmed by the prospect of legal action over unpaid debts.
In the dynamic world of small business, staying ahead means constantly measuring and optimizing performance. That's where Key Performance Indicators (KPIs) come in. These metrics help business owners, entrepreneurs, and startups monitor their progress, identify areas for improvement, and make data-driven decisions. Now that we understand the importance of KPIs, let's focus on the top 5 essential KPIs for e-commerce businesses.
Vendor management and performance are critical in streamlining operational efficiency in the business world. This singular factor could mean the difference between drastically reducing risk and controlling costs or struggling to make ends meet in a highly competitive market. Companies that establish meaningful relationships with their vendors are often rewarded with better pricing structures, reduced costs, and heightened reliability.
Celebrating International Womens Day: Progress, Challenges, and the Road Ahead Every year on March 8th, International Womens Day serves as a global reminder of the achievements, resilience, and contributions of women across all aspects of society. It is a day to celebrate progress, acknowledge challenges, and reinforce the call for gender equality in every regardfrom the workplace to communities and beyond.
International Womens Day (IWD) is not just a day of celebration but a global call to action. IWD is a powerful reminder that gender equality is a critical factor for innovation and progress. The theme for 2025, #AccelerateAction , calls for industries, organizations, and individuals to take concrete steps beyond conversation and into action. This year, the focus is on the need to accelerate gender equality.
If you were just about to start your career in a traditionally male-dominated sector, what advice would you give yourself? Women currently make up only 28% of the global tech workforce. So, on this International Women’s Day, 8 Onguardians, the real women in fintech, share their voices as an inspiration for new generations of womenin the sector.
Do you feel that your retirement dreams are a little too far away or that youll never be able to save enough? Youre not alone. According to Bankrate , the majority (56%) of U.S. adults in the workforce say theyre behind in retirement savings including 37 percent who feel significantly behind. Although this concern spans generations, its particularly pronounced among Gen Xers (ages 43-58), who are nearing the end of their working years but are still too young to retire.
The accumulation of bad debt is a massive hindrance for businesses that rely on consistent cash flow in their accounts receivable. Piling bad debt reduces your companys expected revenue and limits your ability to reinvest liquidity into business operations. It reduces your working capital, balloons administrative and operating costs and ties up resources and personnel that can be put to better use in more strategic areas.
Aryza Strengthens Product and Sales Teams with Key Industry Appointments Aryza has announced several strategic appointments as the company c ontinues to expand its product and sales teams, further solidifying its position as a leading provider of innovative financial software solutions for lending, legal, insolvency, creditor service and collections.
For decades, traditional bank loans were seen as the go-to option for businesses in need of funding. But as lending requirements tighten and approval times lengthen, many companiesespecially small and mid-sized onesare shifting gears and exploring alternative lending methods. From peer-to-peer lending to invoice factoring, these innovative financing options are reshaping how businesses access capital. […] The post Why Alternative Lending Methods Are Growing in Popularity appeared first on
The state of Utah has been experiencing crazy economic growth with technology and AI development. The strong presence of tech there has earned the state the title of Silicon Slopes. It seems that tech in Utah is going to continue to grow, as JPMorgan and Starwood, a large venture capital firm, invested $2 billion for an AI data center in Utah. $2 Billion for Utah Data Center Data centers are becoming more and more popular as they provide the backbone for artificial intelligence.
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