Collection Agency Should be Part of Your Collection Workflow

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All businesses face cash flow issues during challenging economic climates, making it especially difficult to collect customer payments within the agreed-upon terms. To optimize your collection efforts and cash flow, it is essential to reevaluate the priorities of your collection department, including the utilization of third-party collection agencies. Making timely referrals to these agencies for… Read more »

B2B Credit and Collection Core Practices

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Using best practices in your core credit and collection operations will ensure you minimize bad debts and keep your cash flow positive to grow your business. Credit and collections are two essential aspects of B2B (business-to-business) transactions. A proper credit function gives businesses a minimal-risk way to provide customers with goods and services on credit… Read more »

Machine Learning in Credit & Collection Scoring

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Managing receivables is a crucial aspect of B2B financial management. Late or unpaid invoices and bad debts can significantly impact cash flow, causing businesses to struggle to meet their financial obligations. Companies rely on various tools, including payment and credit scoring, to prioritize their B2B collection activities to stay on top of outstanding payments. Payment… Read more »

12 Step Program to Collect A/R Faster

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The Debtor’s Psychology A debtor figures that if their account is 180-360 days old, they’ll never have to pay it, and certainly not the full amount. Chronic slow-paying customers can be re-trained to be profitable, long-term relationships, but they require constant attention so they do not age out to become bad debts. With a little… Read more »

9 Best Collection and Accounts Receivable Metrics

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Understanding DSO, DDO, and Other Accounts Receivable KPIs A/R turnover – the credit-to-cash cycle – and working capital are critical to your business, so it is essential to monitor the Key Performance Indicators (KPIs) and other metrics that track your company’s credit, collections, and deduction management health. In addition, businesses have become more complex, so receivable performance… Read more »

Collection Best Practices That Increase Cash Flow

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Accounts receivable commercial collections at many companies are still in the green eyeshade era with out-of-date processes, leaving many opportunities to improve results. However, like many repetitive processes, collections is a production operation and can be engineered to improve cash flow, reduce DSO, and slash the disputes that result from letting unpaid accounts go stale. This is… Read more »

Leib Receives Coveted A.M. Best “Expert” Award for the 15th Year

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We are proud to announce that A.M. Best has, for the 15th straight year,  selected Leib Solutions as one of a handful of companies in the world receiving the coveted “Expert Service Provider” designation awarded for business debt collection and accounts receivable services. Leib Solutions has been in the commercial collection industry for over 35… Read more »

Digital Signatures in Credit and Collections – A Best Practice

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A digital signature is a cryptographic technique to provide authenticity, integrity, and non-repudiation of electronic documents or data. It is essentially an electronic version of a handwritten signature that provides assurance that the document or message has not been altered and was indeed signed by the claimed sender. A digital signature is created using a… Read more »

Credit and Collection Scoring Best Practices

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There are numerous reasons to use automated credit scoring in your credit (and collection) operations, including faster and better quality decisions, enhanced customer service, more effective compliance and controls, and significantly reduced overhead. Employing credit scoring in a B2B environment is credit management  “Best Practice,” especially if you have many customers. Using Smyyth’s Carixa cloud… Read more »

Commercial Vs Consumer Collection Agencies

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If you are in business, there will come a time when you need to enlist the services of a collection agency to help recover your past-due receivables and bad debts. So how do you find the right one? Commercial debt usually involves significant amounts and often complex circumstances that can lead to financial issues for… Read more »