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Most companies are at the Stone Age regarding the use of software to manage their customers receivables, using mainly their accounting tool, their emailbox and Excel for this purpose. Why is this situation going to change?
A recent French study done by AFDCC shows that only a few percentage of companies surveyed are using a dedicated too. If we extrapolate this survey to all French companies, this ratio would even drops dramatically to certainly reach well under 1%. This conclusion is also valid for companies...
What is the Days Sales Outstanding? How to compute it and how to use it to improve credit management performance? What are the limits of the DSO?
The Days Sales Outstanding is the most used Key Performance Indicator in Credit Management. The purpose of this indicator is to get it lowest as possible. However, there are several ways to compute it and to understand it. Read our tutorial about the DSO! You will find explanations about the...
2018 will be a positive year! Growth is there and must be managed well in order to be beneficial to your business. It's time to improve credit management practices and put in place the right tools!
Best wishes for 2018! Credit Management tools and My DSO Manager wish you every success in your business!
New tutorial about credit management. What is it? What's its purpose? What is the role of the credit manager?
Credit management should be used by any company working in Business to Business whatever is her size. Even those who do not have a credit manager employee shall apply the key principles of this function that is key for the sustainability of all companies, especially small and medium...
Setting a credit limit per customer is essential to properly manage the credit risk. My DSO Manager now offers a credit limit validation workflow based on user-defined levels (credit analyst, CFO, ...etc.)
Set a credit limit for each of your buyers allows to manage your accounts receivable according to their financial capacity and their solvency. This is a key element in the management of the risk of bad debts, which is the root cause of financial issues of many companies. My DSO Manager...
Late payment penalties
|Late payment penalties
How to use late payment penalties to educate customers to pay on time? What are the rules to apply them depending on the country?
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What are the advantages to start the collection process before the invoices due dates? How to perform an efficient collection prior due date?
Any commercial relationship is based on mutual commitments shared between the seller and the buyer. The buyer undertakes to pay the price of the service or equipment delivered on the date specified in the contract and invoices. However, the buyer frequently forgets, at least temporarily, this...
What interest can a find SMEs to use specialized software in the debt collection?
Cash is the lifeblood of any business. Cash makes possible to meet its obligations to its suppliers and financial partners. Cash allows the payment of salaries, and provides the ability to invest and develop the business. This assumption is generally accepted. Almost all leaders and business...
This blog discusses how to evaluate an existing credit application and identify deficiencies or how to create an optimal new credit application.
Credit applications are usually a way for creditors to collect information about a potential customer and communicate credit and contractual terms. Unfortunately, all too often the credit applications we see at our commercial collection agency are missing key items necessary to protect our...
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|Calculate and drive the working capital of your business!
Working capital requirement is the amount needed to finance the operation of the business and the difference between disbursements and receipts.
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