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If your business is in a situation where goods or services have been provided, but your customer has failed to pay their invoice on time, it's up to your accounts receivable team to follow up. Your A/R department, however, can only do so much to ensure that your business receives the payment it deserves and maintains a healthy cash flow. It's crucial to provide a detailed process for escalating past-due invoices beyond accounts receivable to collections.
Please join Troutman Pepper Partners Chris Willis and Stefanie Jackman, along with special guest Prodigal Banking Strategy Leader Scott Hamilton for a discussion about how voice AI and machine learning contribute to more efficient call center controls plus much more. Topics include: The challenges faced by call centers; The benefits of machine learning models capable of assessing calls with accuracy that often exceeds the accuracy of a human; How these machine learning models work; What banks ha
During this, The Great Resignation Era, I thought it would be helpful to start a regular posting of different jobs within the accounts receivable management industry that I have found online. Please make sure to do your own due diligence before applying for a position included here or accepting any offers.
The CFPB sued lease-to-own finance company Snap Finance for deceiving consumers, obscuring the terms of its financing agreements, and making false threats.
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?
New York City affords freelance workers extra protection against unsavory employers when it comes to debt collection. New York City’s administrative code Title 20 awards double damages plus more to freelancers who meet the criteria and follow the process for filing non-payment debt collection claims. Who Benefits From Title 20? You will need to determine whether you meet the requirements to proceed under the city code to avail yourself of the recovery and additional penalty of $250 allowab
As the SaaS industry experiences exponential growth, it is not surprising that non-payment issues have become a pressing concern. Non-payment creates cash flow challenges and hampers the ability to invest in product development, customer support, and overall business growth. It's imperative for SaaS companies to address non-payment issues proactively.
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As the SaaS industry experiences exponential growth, it is not surprising that non-payment issues have become a pressing concern. Non-payment creates cash flow challenges and hampers the ability to invest in product development, customer support, and overall business growth. It's imperative for SaaS companies to address non-payment issues proactively.
EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more?
Businesses want to make money. But how do you know if sales are good enough to keep your company profitable? There are many different financial reports organizations use to track performance. One of the most common–the profit and loss statement–lets companies: Monitor how the organization is performing and better understand profitability Assess expenses and profit trends Plan for future growth and reinvest in the business based on P&L data What is a Profit and Loss Statement?
Building a successful startup comes with its fair share of challenges, chief amongst them being the search for loans and funding. While chasing that dream investment, startups often face a tough time trying to secure loans, primarily due to minimal or no revenue. Understandably, many lenders find this absence of steady revenues a red flag, sometimes closing doors to potential investment opportunities.
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.
A District Court judge in New York has granted a defendant’s motion to partially dismiss one of the two counts against it in a Fair Debt Collection Practices Act lawsuit, ruling that the language in an identity theft affidavit that was sent to the plaintiff did not make it appear that the defendant was affiliated […]
The Federal Reserve (Fed) has officially launched its new instant payment service, FedNow, which aims to modernize the U.S.’s payment system. As previously discussed here and here , consumers and businesses will be able to send and receive money within seconds, at any time of the day and on any day of the year. This will eliminate the one to three days’ lag time of traditional money transfers, providing the public with more flexibility in managing their money.
Today, Rohit Chopra, Director of the United States Consumer Financial Protection Bureau, and Didier Reynders, Commissioner for Justice and Consumer Protection of the European Commission, announced the start of an informal dialogue between the CFPB and the European Commission on a range of critical financial consumer protection issues.
If you find yourself in an untenable financial situation, bankruptcy may be your best option. But that doesn’t mean the process isn’t stressful and overwhelming. There are many considerations. One of the things you may be most concerned about is whether it will affect your current job or future credit. Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt.
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.
The Consumer Financial Protection Bureau yesterday published a report spotlighting an emerging financial obligation that is stirring concern across the labor market: employer-driven debts. The report was based on information it received from consumers and advocacy groups as a result of a Request for Information it published last June.
One of the critical issues to consider when drafting or reviewing an Operating Agreement or Shareholders’ Agreement involves the terms governing expulsion of members or shareholders. Expulsion generally refers to the act of formally removing a member or shareholder from their position within the company and stripping the rights and benefits associated with membership.
More than two years after the Supreme Court released its ruling in Facebook v. Duguid , confirming the meaning of automatic telephone dialing systems (ATDS) under the Telephone Consumer Protection Act (TCPA), a plaintiff has filed a petition for a writ of certiorari to the Supreme Court to challenge the Ninth Circuit’s application of the Facebook decision.
Knowing your Employer Identification Number is essential for many different reasons. However, many employers struggle with EIN number lookup. In this article, we’ll take a closer look at what the EIN is and offer a few suggestions about how you can find yours. What is an Employer Identification Number (EIN)? An employer identification number, or EIN, is a unique, nine-digit number issued by the Internal Revenue Service (IRS).
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.
In a time where the lines between healthcare and finance are increasingly blurred, one company is standing out: Collectly, a patient financial engagement software platform that announced yesterday it raised $29 million in Series A funding round led by Sapphire Ventures. This brings the company’s total capital raised to an impressive $34.1 million.
Do you own a rental property business and are having difficulties collecting past-due rent from tenants? If you’ve tried every option possible to collect the money owed, it may be time to seek help from a collection agency. It can be overwhelming trying to identify which collection agency is right for your business, so we have laid out what needs to be done throughout this entire process with helpful tips on how to properly use a collection agency and manage outgoing payments.
Please join Troutman Pepper Partner Dave Gettings and colleagues Tim St. George and Jessica Lohr as they discuss the use of expert witnesses in FCRA cases. During this episode the team covers a multitude of relevant topics, including: What is an expert witness and how does an expert witness differ from a fact witness? Are expert witnesses overutilized or underutilized in FCRA cases?
People are often grateful for the relief provided by the automatic stay that the court grants when they file for bankruptcy. After all, they have probably endured aggressive collection efforts for months at the point that they file for bankruptcy and may feel anxious every time they answer the phone or go to the mailbox, to describe their situation mildly.
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.
Collector Sued for Sending Emails at Inconvenient Time Healthcare Collection Platform Collectly Raises $29M to Help Providers Recover More Judge Grants Partial MTD in FDCPA Case Over ID Theft Affidavit CFPB Report Spotlights Employer-Driven Debt Williams & Fudge Announces Acquisition of RGS Financial, Expanding its Market Presence and Strengthening Client Services WORTH NOTHING: A question […]
As a business owner, knowing how to effectively manage your debtors is essential when it comes to staying on top of financial transactions. Unfortunately, the process can be a bit intimidating and overwhelming for those who don’t have much experience in this area. That’s why we’ve put together this comprehensive guide to debtor tracing in the UK – to make sure you’re up-to-date with all relevant information!
Ever since the Supreme Court confirmed that the TCPA’s autodialer restrictions apply only to devices that generate numbers randomly or sequentially, the plaintiffs’ bar has been digging deep for new theories of liability to fill the void.
Deceptive advertisements, market manipulation, misappropriation of customer funds, and “Ask Me Anything (AMA)” sessions served as the catalysts of a civil enforcement action the Federal Trade Commission (FTC) recently filed against bankrupt digital asset services provider Celsius Network LLC (Celsius) and its co-founders on July 13. This is a groundbreaking move by the FTC for two reasons.
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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