E-Signatures in Credit Application Systems – A Best Practice

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e-signatures Electronic Signatures Digital Signatures   Companies today routinely use e-signatures to streamline and speed commercial transactions. However, we still sometimes get a question as to whether electronic signatures are binding in the United States and Globally.  The following information is provided from U.S Government websites as well as our Smyyth companies corporate e-signature partner,… Read more »

Credit Applications End-to-End Automation

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Best Practices – Online Credit Applications Credit Application Software Credit Application Systems 80% faster credit approvals 90% less manual work 5% more sales from new accounts Online credit applications are relatively new and even the simplest offer a browser-based application filled out by the customer and then processed by the creditor (but usually completed off-line,… Read more »

B2B Credit Scoring Best Practices

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There are many excellent reasons to incorporate automated credit scoring in your credit (and collection) operations, including faster and better quality decisions, enhanced customer service, more effective compliance and controls, and significantly reduced overhead. Employing credit scoring in a B2B environment is in itself a credit management  “Best Practice”, especially if you have many customers…. Read more »

11 Trends in Credit Decision Automation

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Here are 11 trends you need to know about the future of credit decision automation, many of which are already available in a best-of-class risk management platform. Using Artificial Intelligence (AI), and Robotic Process Automation (RPA) to replace manual tasks and improve accuracy in B2B credit checking,  the best technology can revolutionize the credit approval process… Read more »

Collection Practices That Reduce DSO and Increase Cash Flow

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Accounts receivable collection at many companies is still done the way it was in the green eyeshade era, leaving a great deal that can be done to improve results. Like many repetitive processes, collections is a “production” operation, and can be “re-engineered” to improve cash flow, reduce DSO and slash the disputes that result from letting unpaid accounts go stale…. Read more »

Smyyth Collection Unit Gets Top Ranking Again

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For the third year in a row, Smyyth Collections LLC was selected as the top independent commercial (B2B) agency in a published rating of Collection Agencies in North America based on credibility, reputation and other factors. Smyyth Collections is an affiliate of the Smyyth companies, which provides end-to-end credit and accounts receivable management services and SaaS “credit to… Read more »

Bad Results from arbitrary application of credits and debits

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Let’s say you have a large customer with a huge number of small-dollar unapplied credit memos, invoices, unapplied cash, debit memos, and deductions. For arguments sake, let’s suppose you can round up 1,200 credit memos totaling  $625,000, and 1,600 deductions totaling $615,000, all un-matched for one reason or another. So you have a great idea to get rid of 2,800… Read more »

Robotic Process Automation (RPA)

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Robotic Process Automation (RPA) refers to the use of computer software that controls and automates rule-based processes without the need for human supervision or labor. RPA enables the automatic access, capture, manipulation, interpretation and action on data and documents from other internal and external systems, and then process a transaction, trigger responses and actions, and… Read more »

Best Practices For Credit and Collections

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Best Practices to Include in our Credit and Collections processes include All employees need to understand the mission and objectives of the credit department, so they deliver a consistent message to the customers, and properly represent the “culture” of your organization. Just as with customer service, the mission of the credit department has to be… Read more »

Vendor Compliance Penalty Chargebacks

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Vendor Compliance Penalties have become a real problem for all retail suppliers. Small vendors, especially, are having problems keeping up with the ever-increasing complexity of doing business in the electronic age. Bog-box retailers are highly computerized and automated throughout the logistics operations and expect their suppliers to be able to match them, deal with them electronically, and ship the goods in a… Read more »