Cash flow is the undisputed lifeblood of any business, directly influencing its operational capacity, investment potential, and overall resilience. Within this critical financial ecosystem, Accounts Receivable (AR) isn’t just an accounting entry; it’s a strategic asset reflecting your company’s future liquidity and its ability to convert sales into tangible cash. Yet, businesses frequently grapple with… Read more »
12 Step Program to Collect A/R Faster
Understanding the Debtor’s Psychology Many debtors believe that if an invoice is 180 to 360 days past due, they’ll never have to pay it—at least not in full. Others simply take their time, knowing they won’t face serious consequences. But slow-paying customers can be “retrained” into becoming reliable, profitable long-term accounts—with consistent, proactive attention. Here’s… Read more »
A/R Invoice Collectibility By Age
The average collectibility for B2B invoice receivables by age can vary widely depending on industry, customer base, economic conditions, and credit practices. However, a general trend can be observed in how the likelihood of collection changes over time. The time for outside, “third-party” collection agency action is when the debt may still be collectible, best… Read more »
Collection Agency Should be Part of Your Collection Workflow
In today’s challenging economic environment, businesses of all sizes grapple with cash flow disruptions. Collecting payments within agreed-upon terms becomes increasingly difficult, especially from commercial clients. To maximize your collection efforts and stabilize cash flow, it’s critical to reassess your collection strategy—including partnering with a third-party collection agency like Leib Solutions. Timely referrals to a… Read more »
Machine Learning in Credit & Collection Scoring
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 »
Leib Receives Coveted A.M. Best “Expert” Award for the 15th Year
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 »
Credit and Collection Scoring Best Practices
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 »
Comparing Commercial vs Consumer Collection Agencies
In the course of running any business, the reality of past-due receivables and bad debts is often unavoidable. When this happens, enlisting the services of a collection agency becomes a critical step to safeguard your financial health. But with different types of agencies out there, how do you ensure you’re choosing the right partner to… Read more »
Accounts Receivable Automation Tools, AI and RPA
Advanced technologies, including robotic process automation (RPA), will forever change accounts receivable, collections, and deduction management. Like most other back-office functions, receivables management was a manual affair as recently as twenty or thirty years ago, working off printed agings, typing reconciliations and letters and mailing or faxing. It’s hard to believe that tools MS Excel,… Read more »
Statute of Limitations
Statute of Limitations by State For Commercial Collections The Statute of Limitations for lawsuits varies by state, and runs anywhere from 3 to 15 years, after which the debt is “time-barred,” and you cannot sue. You should use every legal means at your disposal, of course, but if you wait too long and rely on… Read more »
