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Credit and Collections

From “persistent” to “aggressive” – the red line Accounts Receivable doesn’t want to cross

Collecting outstanding debts and maintaining cash flow all comes down to the persistence of you and your Accounts Receivable (A/R) team members. Being seen as “persistent” in your industry is the ideal spot you want to be. On the other hand, being perceived as “aggressive” by customers late to pay a bill can open a […]

by Scott Ball
September 15, 2022

Change is essential to stay ahead, but not everyone’s buying in: 5 steps to success

Picture this: You’re settling on a new automation program shown to help streamline account data and close payments more effectively. You’re excited about the time it’s going to save your team members and the money it’s eventually going to save your company. The one hiccup? One or more staffers who need to be brought up […]

by Scott Ball
September 12, 2022

3 challenges threatening B2B cash application and how to overcome them

Since the pandemic began in 2020, B2B cash application – the process of matching a payment from a customer to the corresponding invoice being paid – has been slow and inconsistent at times for many supplier companies. Part of it is caused by supply chain issues, part of it’s due to a remote workforce, and […]

by Steve Pinado, Finance Expert Contributor
September 9, 2022
Digitization And Automating Payments Processes Key For Overcoming Obstacles

Latest credit & collections data shows which sector is already in recession mode

Credit managers are relatively optimistic about the state of the economy these days. But one critical sector in particular is behaving like it’s in a recession – and it’s going to have ripple effects on creditors and supply chain partners. The manufacturing sector’s Credit Managers’ Index (CMI) from the National Association of Credit Management (NACM) […]

by Scott Ball
September 8, 2022

Motivated finance employees means more payments … but what’s the best way to measure success?

Finance pros know there’s more than one way to motivate staffers to improve their performance. Chances are you’ve tried incentive programs and training tactics to get your teams to collect. There’s a variety of carrots to dangle based on what staffers care about and your budget will allow. And by the same token, there are […]

by Scott Ball
September 1, 2022

Time to send an account to collections? Check this data first

If you’re like most businesses these days, you’re either dealing with a customer or two that’s stretching payment deadlines as far as possible (or are past due), or you’re worried it’s about to become a problem and cut into your cash flow. Business confidence isn’t quite as low these days as consumer confidence is, but […]

by Scott Ball
August 25, 2022

Best practices for A/P, A/R that your company needs to implement now

Forward-thinking companies like yours are always looking for ways to optimize A/P and A/R processes to keep your business’s cash flow well-balanced. But outside of using automation technology to reduce errors, streamline vendor invoice approvals and process customer payments, what else can be done? A/P best practices Here are six steps you can take immediately […]

by Brian Bingaman
August 25, 2022

Considering cryptocurrency to pay your vendors? You’re not alone

Many of the vendors you work with may be among the more than 2,300 U.S. businesses that accept the cryptocurrency bitcoin, according to a report from Deloitte. There may be even more businesses exploring cryptocurrency right now because, unlike cash, it’s not subject to devaluation from inflation. For A/P transactions, virtual currencies and blockchain technology […]

by Brian Bingaman
July 29, 2022

More interest rate hikes on the horizon? Signs point to ‘maybe not’

Word on The Street is the U.S. Federal Reserve wants to hike interest rates at least a couple more times in coming months, which will effect how much businesses want to risk borrowing or extending more credit to customers, among a host of finance issues. But are rate hikes a sure thing? Or could the […]

by Scott Ball
July 22, 2022

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Resourceful Finance Pro, part of the SuccessFuel Network, provides the latest Finance and employment law news for Finance professionals in the trenches of small-to-medium-sized businesses. Rather than simply regurgitating the day's headlines, Resourceful Finance Pro delivers actionable insights, helping Finance execs understand what Finance trends mean to their business.

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