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Who is responsible for granting a credit line to a client identified as risky? On what basis? What are the mistakes to avoid?
Find here our new tutorial about credit risk management. In the areas of credit management and debt collection, prevent is better than cure.. Moreover, we do not cure of an unpaid invoices, we write off receivable and create losses which, we hope, will remain at an absorbable level by the...
Retrieve and use in My DSO Manager key Creditsafe information about your customers to optimize your risk management.
Latest news of My DSO Manager, innovative credit management software for all sizes of companies (our solution is used by SME as well as big international groups), allowing to include your Creditsafe data (« Note » and « Recommended Credit ») to your customers files using our...
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!
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...
Credit Management tools
|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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Your site has an astonishing clarity. Well done!