Automated Credit Applications

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Best Practices – Online Credit Applications Credit Application Software Credit Application Systems 80% faster credit approvals 90% less manual work 5% more sales from new accounts Online credit applications are relatively new and even the simplest offer a browser-based application filled out by the customer and then processed by the creditor (but usually completed off-line,… Read more »

Credit and Payment Scoring For B2B

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There are many excellent reasons to incorporate 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 in itself a credit management  “Best Practice”, especially if you have many customers…. Read more »

11 Trends in Credit Automation

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Here are 11 trends you need to know about the future of credit decision automation; many of these are already available in a best-of-class risk management platform. Using Artificial Intelligence (AI), and Robotic Process Automation to replace manual tasks and improve accuracy in B2B credit checking,  the best systems can revolutionize the credit approval process for… Read more »

Best Practices for Credit and Collections

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Best Practices to Include in our Credit and Collections processes include All employees need to understand the mission and objectives of the credit department, so they deliver a consistent message to the customers, and properly represent the “culture” of your organization. Just as with customer service, the mission of the credit department has to be… Read more »

Things to Consider When Hiring a Collection Agency

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Every company needs a collection agency, since there will always be customers that default or who will not pay under the normal terms. Here are some ideas for your consideration when choosing an agency. If you are B2B you must select a “commercial” bad debt collection specialist, as they have experience dealing with corporate debt… Read more »

100% Auto Cash Application

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Most companies – even the very largest – are still getting by with auto-cash that still requires off-line manual work for resolution of exceptions, duplicate entry of chargebacks, and inaccurate postings that create extra work. With the unmatched power of the Carixa Cash Application Engine, you can today achieve a 100% correct auto cash, and… Read more »

Collection Best PracticesThat Increase Cash Flow

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Accounts receivable collection at many companies is still done the way it was in the green eyeshade era, leaving a great deal that can be done to improve results. Like many repetitive processes, collections is a “production” operation, and can be “re-engineered” to improve cash flow, reduce DSO and slash the disputes that result from letting unpaid accounts go stale…. Read more »

Subrogation Collection Best Practices

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General Insurance executives are familiar with subrogation, the insurer’s legal right to pursue damages after paying a claim. However, it turns out that many insurers are unable or neglect to pursue their subrogation rights, or do not use best practices in doing so. This results in profit opportunities lost forever, as well as inefficiency and… Read more »

Bad Results From Arbitrary Application of Credits and Debits

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Let’s say you have a large customer with a huge number of small-dollar unapplied credit memos, invoices, unapplied cash, debit memos, and deductions. For arguments sake, let’s suppose you can round up 1,200 credit memos totaling  $625,000, and 1,600 deductions totaling $615,000, all un-matched for one reason or another. So you have a great idea to get rid of 2,800… Read more »

End of the year – Days Sales Outstanding

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Well, here we are again – the end of another year.  While you review your balance sheet all year, December is when you scrutinize it upside down and inside out.  What did you do right throughout the year?  What can be tightened up?  Days Sales Outstanding – or “DSO” – is one of the  metrics… Read more »