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What is the link between effectiveness of debt collection and the timeline of actions taken? Is time management a key factor of success for the collector?
In strategy, the control of the time space is paramount whatever the domain to which it applies. Whether in military or commercial strategy, the effectiveness of the actions undertaken depends fundamentally on when they are carried out. The military art of the great captains is based on their...
What are the different ways to organize credit management function? Advantages and disavantages of each one.
Credit management function can be managed in different ways. It is very interesting to see how it is organized depending on the type of business and / or the country of the company. Commercial culture is a key element in credit management. So there may have as many credit organization as...
Latest features added to My DSO Manager, allowing to improve efficiency and intuitivity of the debt collection software.
Here are the new features recently added to My DSO Manager: View the progress of the collection scenario directly in the customer record! Understand at a glance which stage of the collection scenario you are with: In green, actions that have been completed ...
The DSO is the main KPI for accounts receivable management but it is not always easy to understand. What is really the DSO?
The DSO is certainly the most widely used indicator in credit management in all countries of the world. It is a major stake because of its key role in evaluating business performance and its effect on the working capital requirement (WCR). However, it is not easy to grasp. It is the subject...
A credit management policy defines the rules and practices to grant credit to customers, manage debt collection...etc. It is a key tool to implement in any business.
Look at our tutorial and credit management policy template to create and implement in your company key principles of credit management. This document will define all the practicices and rules to manage efficiently accounts receivable. It has to be shared and validated by all stakeholders...
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 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...
Summer is one of the most difficult period to get paid by its customers. How to organize its collection to anticipate these difficulties and maintain the treasury of his business?
Account receivable management is about anticipation. Whether in customer risk management, upstream of the realization of sale, or in the cash collection, downstream, earlier the action is performed, more it is easy and efficient. For example, it is much easier to ask the customer for a deposit...
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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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