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 »

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 »

Top 8 Causes of Vendor Compliance Penalties

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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 »

Sarbanes-Oxley and Trade Promotion Management Best Practices

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Risks of Trade Promotion Non-Compliance With SOX It is management’s job to maintain a system of internal controls so that the financial statements will be reliable. This holds true whether you are a mid-market company or a global enterprise. although the risks and penalties for failing in this core responsibility rise exponentially in large, public… Read more »

Accounts Receivable Puts – Non-Cancellable Credit Protection

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Accounts Receivable Puts can offer protection that you might get from a single-buyer credit insurance policy, but in another form. Accounts Receivable Puts provide non-cancellable credit protection to cover your large credit risks with either public or privately held customers or suppliers, even if that customer is in financial distress. With a Put, the underwriting counterparty is… Read more »

Receiving Dock Procedures for Shortage – Damage Freight Claims

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Receiving Dock Procedures for Shortage and Damage Carriers cannot prevent all instances of freight loss or damage so when it happens, there are a few steps you can take to protect yourself and help assure the freight claim gets paid. Do not sign the freight bill (FB) or bill of lading (BOL) until you have… Read more »

Deduction Management-Best Practices for Shipment Shortages

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Reducing Shipment Shortages Shipment shortages and damages are age-old problems that dilute manufacturer profits by as much as 1/2 to1 percent of gross sales, a loss that can be reduced by taking common sense steps.  Shortage deductions are caused by errors in the shipper’s warehouse, by transportation carriers, and at customer receiving docks, incidences which… Read more »

Supplier Portals Impact the Invoicing and Payment Lifecycle

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“Collaboration Portals” or “Supplier Portals” are being implemented by many companies to facilitate billing, payments and problem solving between companies, their employees, and their external partners, especially customers. This has important benefits for streamlined customer service, efficiency, and improving cash flow. Having the seller and the buyer on the same platform removes much of the… Read more »