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COVID-19 cases are still increasing as the United States reopens and now the National Bureau of Economic Research has declared that the U.S. economy is indeed in recession. According to the announcement, the economy was heading into recession when the coronavirus hit and, as businesses were shutdown, any gains were erased during March and April. If you're a business owner or accounts receivable professional, you may already know that cash flow has been affected by the events of the past few mont
If you are worried that people will know you’re filing for bankruptcy, let’s put your mind at ease. The widespread publishing of bankruptcy filings in local newspapers is a thing of the past. In fact, look closely at any bankruptcy notices that do appear in your local newspaper. If anything appears at all they are usually just business bankruptcies.
Cash is King during COVID-19. Poor cash flow can cause a significant number of financial issues but in a pandemic it can destroy your business. The good news is, strengthening your cash flow in a volatile environment can improve your overall cash position. Cash flow is about both bringing in more cash and spending less cash. You must manage both expenses and revenue to optimize results.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Credit cards play a significant role in your financial life—from establishing credit and determining your buying power to potentially being a financial lifeline during times of crisis. Before you add another credit card to your wallet, you should consider your buying habits and financial strategies. The answers to the following five questions may help you decide if another credit card is right for you.
Urgency for prompt payments to small and medium enterprises (SMEs) highlighted by new data from Xero. Xero has released analysis of COVID-19’s initial impact on New Zealand’s SME sector. It highlights the importance of paying SME invoices promptly as they move into the rebuild and recovery phase. Craig Hudson, Xero Managing Director of New Zealand and the Pacific Islands, says the best thing businesses can do to keep the New Zealand economy afloat and support the SME sector is to pay your bills
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Urgency for prompt payments to small and medium enterprises (SMEs) highlighted by new data from Xero. Xero has released analysis of COVID-19’s initial impact on New Zealand’s SME sector. It highlights the importance of paying SME invoices promptly as they move into the rebuild and recovery phase. Craig Hudson, Xero Managing Director of New Zealand and the Pacific Islands, says the best thing businesses can do to keep the New Zealand economy afloat and support the SME sector is to pay your bills
At the heart of any successful company are happy customers. Without the right care and dedication towards providing excellent customer service, you’ll haemorrhage money through increasing customer churn. It only takes one bad experience for a customer to jump ship to one of your competitors. Multiply this by thousands over the period of a year and suddenly there is a significant problem with cash flow.
Insurance claims recoveries, in this instance, refers to claiming back the cost of repairs for the insured’s loss from the at-fault party. Insurance claims recoveries is usually the very last process completed in the insurance claims process, however, actioning these early and efficiently can reap a host of benefits. The primary function of claims recoveries is to reduce the overall claims cost outlay, thus allowing insurers to offer competitive rates and premiums.
While most people know that bankruptcy is a way to discharge or eliminate debt, few know how it happens. Not knowing what to expect during the bankruptcy process can make the idea more intimidating than it has to be. In reality, the filing for bankruptcy protection is not overly burdensome. And with help from an experienced and committed Cleveland bankruptcy law firm, you can usually go through the whole process Read More.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
As a member of the New Lawyers’ Committee of the New Hampshire Bar Association, I had the opportunity to revise the Probate section of the Committee’s publication “Traps for the Unwary”. Aptly titled, the publication attempts to identify some of the “traps” into which both new and experienced lawyers may fall. This seventh edition of Traps includes discussion of new areas of law, as well as substantially updates the state of the law in New Hampshire since the 2016.
Key Takeaways. Congress recently passed legislation in the CARES act that provides direct and indirect benefits to Federal Student Loan borrowers. Benefits include a suspension of payments, no negative credit reporting, no collection activity, and no accrual if interest until September 30, 2020. Congress allows employers to now pay up to $5,250 without a tax impact to the borrower.
Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.
A Commercial ‘Credit Crunch’ is predicted as the UK’s Small Business community are facing up to increasing Unpaid Invoices. Research by Business Funding Experts Iwoca has found that 40% of Small Businesses are facing Debts of over £10,000. Small Businesses are going to face considerable disruption and cash flow issues over the coming months due to unpaid invoices.
Factsheet for more information on Collection. There are various reasons why some payments call for a fairly intensive approach. Our debt collection software offers the perfect solution in such situations. It lets you handle and follow up overdue invoices at file level, and default penalties and interest are calculated automatically. The software is used by debt collection agencies, financial restructuring and recovery departments, debt collection lawyers, banks, insurers, energy companies and le
On June 11, 2020, the New York City Department of Consumer Affairs (“DCA”) released amendments to its debt collection regulations aimed at addressing communications with consumers who may have limited English proficiency (the “Amendments”). While this is an issue on many regulators’ minds, these NYC Amendments appeared to come out of left field. The Amendments were originally proposed by DCA on March 5, 2020, just as New York City (and the rest of America) was beginning to grapple with COVID-19
Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert
In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.
Following specific guidelines, medical providers can attempt to collect past due balances regardless of when the services were rendered. However, the time during which a provider can sue for the balances owed has always been restricted. New York recently enacted a new law which dramatically shortens the time to collect debt for medical services. In April 2020, in the midst of New York on pause, Governor Cuomo signed legislation shortening the time providers can sue for medical services rendered.
It’s easy to overlook the contract terms with your merchant account provider. Many of us sign on the dotted line without fully understanding all terms and conditions. Irrespective of the payment processor, we cannot stress how crucial it is to fully comprehend your merchant services contract. In today’s world of mobile apps, we automatically hit ok when the long scrolling screen of terms pops up.
Adam Parks , Chief Marketing Officer of Plaza Services and entrepreneur, was featured on a recent episode of the Tech on Reg podcast, “ A Receivables Tech Entrepreneur.” His conversation with host and attorney Dara Tarkowski focused on compliance, technology, and future opportunities within the accounts receivable management (ARM) industry. The post Plaza Services Chief Marketing Officer Adam Parks Featured in Tech on Reg Podcast appeared first on Adam Parks inc.
Colleen Peel is Head of Marketing & Events at the Credit Services Association. At the CSA and as a trade association, the most important questions we ask ourselves are: Do we provide enough value for our members? Do we create enough influence with stakeholders? Do we have a strong voice for the industry? Never have these questions been more important than now.
Navigating collections in the dynamic financial landscape presents multifaceted challenges. Organizations face pressures to maintain standards alongside software challenges like regulatory adaptations, data integration, security, workflow optimization, and automation. Finding the right software can save time and money. BEAM offers a comprehensive solution with specialized modules to streamline debt collection effortlessly.
Do you find yourself getting declined by the bank when you apply for loans? Even when you know and feel that you can pay it off, have you wondered why lenders aren’t very forthcoming about granting credit? Banks and lenders don’t decide such things on a whim; there is always a reason why they would. Read more » The post How to Fix Bad Credit appeared first on JMA Credit Control.
Emerging from the pandemic and moving forward won’t be easy. Businesses that need to collect money owed are likely to encounter challenges in recovery.
Without a call blocking & labeling solution, it’s difficult to know what’s actually happening to your calls after you dial. Oftentimes though, abnormally low connection rates can be a telling sign that your calls either aren’t going through or are being mislabeled.
The ongoing coronavirus pandemic has changed many of lawyers’ closely-held beliefs about how to run a law practice. Not a single aspect of law firm business management is being left unexamined. And, as law firm concerns over revenue grow, cost - cutting measure s begin to intercede. At this point, a number of law firms have furloughed staff; but, many have held onto the second largest office expense: the office itself.
CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.
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