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
Accounts receivable commercial collections at many companies are still in the green eyeshade era with out-of-date processes, leaving many opportunities to improve results.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
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 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. Leib, using Smyyth’s Carixa… Read more »
Commercial Vs Consumer Collection Agencies
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 »
April 18, 2021 COVID-19 Update
To Our Customers, We continue to safeguard our employees’ health while ensuring consistently high levels of service to you. We continue to be up and running at 100% levels. Being sensitive to the predicament of many businesses, we have maintained a low-key and our usual professional, “no-noise” approach during this difficult period. Nevertheless, which was… Read more »
HIPAA Compliance
New Release February 4, 2021 Leib Solutions LLC Achieves HIPAA Compliance SUMMARY: Leib Solutions has demonstrated its effort toward HIPAA compliance by completing Compliancy Group’s proprietary HIPAA compliance process. LEIB is pleased to announce that it has taken all necessary steps to prove its effort to achieve compliance with the Health Insurance Portability… 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 »
Collection Gridlock Causes Bad Debts
Eliminate Collection Gridlock to Reduce Bad Debts Frauds are rare. If you perform an easy credit check, you will have very few out-and-out scams, which we’ll define as businesses that order your products, knowing that they will never pay you. The odds of getting your money in these cases is nil. Chronic Slow Pays. The… Read more »
