For CFOs, it’s vital to keep a pulse on the state of A/R and the challenges your team is facing – especially after the year they just had.
Credit and Collections
Even years after South Dakota v. Wayfair gave states the power to tax online sales, some states are still working on adding regulations.
A new federal appeals court ruling is good news for creditors trying to collect their money. And it centers on one of the key tools in your arsenal: collection letters. One creditor landed in hot water when a customer asserted that a fee breakdown on a letter was misleading and violated the Fair Debt Collection […]
Customer excuses have been spiking in recent months, especially for small- and mid-sized businesses. And you can thank the coronavirus pandemic for it. A recent survey from the UK uncovered that 59% of businesses say they’re running into more excuses for past-due bills. Specifically, this survey focused on small- and mid-sized businesses and their current […]
No matter how efficient your A/R and A/P teams are, payment disputes will likely come up from time to time.
Business-to-consumer creditors, you’ll have to change up your process to collect money from customers, thanks to new debt collection rules. The final rules amending Regulation F, 12 CFR part 1006, passed late last year. And they’ve been touted as the most significant changes in the 40 years since the Fair Debt Collections Practices Act was […]
The current climate has called for a change in the way people do business – and that’s largely impacted sales tax practices and regs for 2021.
If your Accounts Receivable process remains mired in some manual tasks, you’re far from alone. New A/R benchmarks reveal they’re plaguing your peers … with costly consequences. The yardsticks come from MSTS’s recent report, “Automation and Manual A/R Processes: Capital Considerations to Grow B2B Businesses in 2020 and Beyond.” Take a look at what MSTS […]
People who have to make collection calls don’t always know how to approach the call. They may not have their responses ready for the questions or excuses that the customers put forth. There are methods of requesting payment on the phone that can work very well. However, some methods will not achieve the response your […]