Insights
Why You’re Not Getting Paid (Yet): The Impact of Institutional Budget Cycles on Receivables Collection
Bureaucracy, Not Bad Debt Unlike commercial buyers who can cut a check when they want, institutions operate on rigid fiscal calendars that govern when and how payments can be made. Your receivable might be clean, approved, and even scheduled for payment—but still sit unpaid for weeks or months. Understanding these cycles is critical to collecting...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→
Decision 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→