Your Virtual Credit Manager

JULY 23, 2024

In every accounts receivable (AR) portfolio there are customers that almost always pay on time, other customers that pay within a reasonable proximity of the due date, and those that pay consistently slow. It usually only takes about six months to figure out the segment into which a new business customer will fall. Once each customer’s payment proclivities are known, assigning appropriate monitoring and collection strategies is easily done, thereby ensuring adequate collection coverage.

Credit and Collections 130

Credit and Collections Accounts Receivable (AR) Shared Service Center Small Businesses 130

Gaviti

JULY 24, 2024

Running a business is hard enough. Don’t let invoicing and processing slow you down. Creating efficient invoice processing procedures ensures you make the most of your time and money. So, where do you start? Understanding the top invoice processing best practices and the importance of automation will create a solid foundation for your business. What Is an Invoice Processing Cycle?

Credit and Collections 98

Credit and Collections Bad Debt DSO Payment Portals 98

Due

JULY 23, 2024

A Louisiana federal jury convicted a fraudulent medical practitioner for his part in an opioid and $5m health care fraud scheme. Adrian Dexter Talbot was at the center of the case surrounding his Medex Clinical Consultants (Medex) company. Based out of Sidell, St. Tammany Parish, Louisiana, he was responsible for a lengthy fraud scheme, according to court documents and testimonies.

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Accounting Department

JULY 23, 2024

In today's competitive business landscape, staying ahead of the competition requires more than just a great product or service. Entrepreneurs, small business owners, and financial analysts must focus on tracking key financial metrics to ensure their company's growth and financial health.

Small Businesses 90

Small Businesses 90

Waystar

JULY 24, 2024

Healthcare organizations are bracing for another wave of uncertainty resulting from the ripple effects of February’s nationwide cyberattack. As individual data breach notifications begin to go out, patients of affected health organizations will likely have new questions and concerns. If hackers begin using the stolen data for fraudulent activity, patients could end up with exhausted benefits or surprise bills for care they never received.

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Abrigo

JULY 20, 2024

Ready to catch the next wave of lending growth? Commercial and industrial lending (C&I) will be the next big performance driver for banks and credit unions. Financial institutions should get ready now. You might also like this paper on how institutions can produce smarter, faster lending. DOWNLOAD Takeaway 1 If opportunities to drive bank or credit union performance are like the waves surfers seek.

Credit Unions 78

Credit Unions Credit Risk Small Businesses 78

Collenda

JULY 24, 2024

Celebrating Self-Care Day: Insights and Tips from the Aryza Team At Aryza, we believe that self-care isn’t just a one-time event, but a regular commitment to nurturing your mind and body. In honor of Self-Care Day, we’re taking a moment to celebrate the importance of setting aside time for activities that recharge our batteries and maintain our overall well-being.

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Lendio

JULY 25, 2024

LEHI, Utah–July 25, 2024–Today, Lendio released its inaugural State of SMB Lending report. In the survey of over 1000 small business owners, 68% of small businesses say access to financing is the most important factor in the growth of their businesses. While respondents expressed confidence in their ability to access capital, they said the loan amount and term often fall below their expectations.

Small Businesses 59

Small Businesses 59

Chaser

JULY 23, 2024

Whether you're a business owner overseeing multiple transactions or a consumer keeping track of monthly expenses, understanding the mechanics of a billing cycle is crucial. A billing cycle is the interval between the last statement date and the next. This seemingly simple process plays a role in maintaining financial clarity and ensuring predictable cash flow.

Transactions 59

Transactions 59

biz2credit

JULY 23, 2024

Interest rates can make the difference between your business growing or declining. When they’re high, they make the cost of borrowing money more expensive. When they’re low, they can stimulate growth by lowering the cost of investing in your business. But interest rates aren’t always predictable, and in varying environments, it can be hard for … Continue reading "Planning for Financial Stability in Varying Interest Rate Environments" The post Planning for Financial Stability in Varying Int

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Due

JULY 26, 2024

Three people have been sentenced as part of an $88M pirated business telephone software license case. The three individuals involved in the case, Raymond Bradley “Brad” Pearce, Dusti O. Pearce, and Jason M. Hines, have all been given custodial sentences. The FBI Oklahoma City Field Office investigated the case. The Justice Department report also stated Senior Counsel Matthew A.

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Lendio

JULY 24, 2024

July 25, 2024–U.S. small business lenders increased requirements to qualify for financing in the first half of 2024, but are cautiously optimistic the market will improve, according to the Q1 2024 SMB Lending Index released today by Lendio. Lendio’s SMB lending index measures how accessible business financing is to small business owners with a higher score indicating greater accessibility.

Small Businesses 59

Small Businesses 59

CreditStrong for Business

JULY 26, 2024

When you apply for a business loan, commercial lenders consider many different factors, including your business credit scores, credit history, financials, collateral, and more. But in many cases, your credit scores are the most important factor because they indicate how well you’ve managed your debts in the past. Before you apply for your next business loan, it’s important to know what lenders are looking for and how that can vary for different types of loans.

Credit Scoring 52

Credit Scoring Credit Reporting Agencies Credit Risk Small Businesses 52

Reorg Blog

JULY 26, 2024

Judge Michael E. Wiles issued a decision today denying releases granted under the Mercon Coffee debtors’ fourth amended plan of liquidation to a subset of officers and directors.

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Due

JULY 26, 2024

AI constantly evolves, and new opportunities emerge as this technology advances. One such opportunity lies in the realm of artificial intelligence (AI). AI has been a buzzword in the tech industry for several years, but its implications extend far beyond technology. As AI continues to grow and develop, it is creating unique investment opportunities that savvy investors are capitalizing on.

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Default 52

Chaser

JULY 26, 2024

Financial roles in business management are critical for ensuring accurate tracking, reporting, and analysis of financial data. These roles, ranging from daily transaction management to strategic financial planning, directly contribute to a business’s operational efficiency and long-term financial health. While you focus on steering your business forward, two key financial professionals—bookkeepers and accountants—ensure your financial operations run smoothly.

Transactions 52

Transactions 52

CreditStrong for Business

JULY 26, 2024

Establishing business credit is a top priority for many small business owners, particularly if you want to expand your business over time. Tier 1 and tier 2 vendors can help you get started. But once your business has been around for a few years and established a positive repayment history, you may be ready for tier 3 vendors, which include banks, credit unions, and online lenders.

Credit Unions 52

Credit Unions Small Businesses 52

Reorg Blog

JULY 26, 2024

The post SVB Financial Group, FDIC-C Hone In on Systemic Risk Exception Authority at Center of $1.93B Silicon Valley Bank Deposit Dispute appeared first on Reorg.

Bankruptcy 52

Bankruptcy 52

Due

JULY 26, 2024

Proven Strategies and Tips for Financial Stability in Your Golden Years Retirement is a significant life stage that requires careful financial planning to ensure comfort and security. According to the Federal Reserve , nearly 28% of Americans, up from 25% in the prior report, have no retirement savings. And among those with some savings, the amount saved is insufficient to maintain their lifestyle post-retirement.

Deductions 52

Deductions 52

Credibly

JULY 25, 2024

Table of Contents Understanding a business line of credit Understanding business loans The differences between a business line of credit and a loan Business line of credit vs business loan: How to choose what’s right for your business Pros and cons of business lines of credit and business loans Where to get business lines of credit and loans FAQs about business lines of credit and business loans A lack of funding can block ambitious growth for small businesses.

Credit Unions 52

Credit Unions Small Businesses Default Credit Scoring 52

CreditStrong for Business

JULY 26, 2024

There are four different business credit tiers that you can use to build your business. Understanding how each tier works can help you find the right financing to meet your needs while building business credit. Tier 1 Tier 1 credit, commonly referred to as basic trade credit, is the most readily accessible type of business financing. You generally don’t need an established business credit history or a high personal FICO score to get approved for accounts from vendors at this level.

Credit Scoring 52

Credit Scoring Credit Unions Small Businesses Default 52

Grit

JULY 26, 2024

According to a recent study by Statista, online retail sales worldwide are projected to reach 7.467 trillion dollars in 2026. As eCommerce continues to grow, businesses must adopt effective strategies to stand out. One powerful tool for boosting sales is the BigCommerce schedule promotion. This feature allows store owners to automate their sales campaigns, ensuring they run at the most optimal times.

Dashboards 52

Dashboards 52

Gaviti

JULY 25, 2024

Artificial intelligence is now an integral part of what makes accounts receivable software work and cash application solutions in particular. A/R departments often turn to cash application software at a point when they see a need to replace manual processes with automated ones and realize they are using their talent to complete mundane tasks or spending valuable resources on identifying manual errors that result in payment processing delays.

Cash Applicator 52

Cash Applicator DSO Payment Portals Credit and Collections 52

Due

JULY 25, 2024

The Justice Department has reported the largest ever civil forfeiture recouped in history at $85m. The government regulator was investigating Malaysia’s sovereign investment development fund. Known as 1Malaysia Development Berhad (1MDB), the Justice Department has now reached an agreement with the company’s former general counsel, “Jasmine” Loo Ai Swan (Loo).

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CreditStrong for Business

JULY 26, 2024

Auto loan interest rates vary widely from 0% to much higher interest rates, such as 25% for subprime borrowers with very poor credit. One reason why the interest rates for car financing are important is that the price of vehicles being produced today is staggering. The average price for new cars in the U.S. recently surpassed $40,000, which also translates to pricier used cars, which then makes good car loan rates a priority.

Credit Scoring 52

Credit Scoring Credit Unions Credit and Collections 52

Accounting Department

JULY 25, 2024

In the world of finance, the month-end-close process is akin to the grand finale of a well-orchestrated performance. Every note must be in tune, every movement precise, and any slip-ups must be corrected before the curtain falls.

Small Businesses 52

Small Businesses 52

Onguard

JULY 25, 2024

Earlier in 2024, we surveyed 300+ CFOs and financial professionals in the Netherlands to study how they view current technology trends and their impact on the finance sector. The research findings were shared in four different whitepapers, entitled the FinTech Baropapers. Let’s sneak a peek at the key takeaways: #1 AI the leader in technology trends Although finance professionals see a major influence of big data (36%) and IoT (23%) on the financial process, they find AI (45%) the technology wit

Credit Management 52

Credit Management DSO Days Sales Outstanding Credit and Collections 52

Due

JULY 25, 2024

Bitcoin, the pioneer of decentralized digital currencies, has been at the center of heated debates and discussions since its birth in 2009. Its unpredictable nature, combined with the allure of high returns, has sparked a wide array of opinions. Some hail it as a groundbreaking financial instrument, while others dismiss it as a risky and unstable asset.

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CreditStrong for Business

JULY 25, 2024

Despite being a below-average credit score, prospective home buyers with 600 credit scores may qualify for home mortgage loans. Borrowers with a lower credit score may not qualify for conventional loans, but loan options exist for people with a steady income and a reasonable credit history. Credit scores range from 300 to 850. The typical minimum credit score requirement is roughly 580 through FHA mortgage lenders and other various home loan programs.

Credit Scoring 52

Credit Scoring 52

Grit

JULY 25, 2024

One powerful tool that BigCommerce offers to help achieve this is the Customer Groups feature. This feature allows businesses to segment their customers into distinct groups based on various criteria, enabling personalized interactions, targeted marketing, and optimized pricing strategies. By leveraging BigCommerce Customer Groups , you can enhance customer satisfaction, improve loyalty, and drive sales growth.

Dashboards 52

Dashboards 52