Business Practices Archive

The four-day workweek is making waves for its potential to boost productivity and improve work-life balance, but how does it stack up in the world of credit management?

Escheatment is the legal process of transferring unclaimed or abandoned property to the state such as bank accounts, uncashed checks, credit balances or other funds that have not been claimed by customers or vendors within a specified period.

Performance metrics are used to assess and enhance efficiency, productivity and success in organizations or projects. But they can also measure customer performance, assess risk and rank customers.

When it comes to managing credit limits, every credit manager has a unique approach shaped by their industry, company size and customer base.

During vendor selection, customers are expected to compare and negotiate terms. But what might lead them to switch to a new vendor, even if the current one is a good fit?

Cash application is a vital component of the accounts receivable (AR) process. It involves matching incoming payments to the correct customer accounts and invoices, and then posting the payments to the appropriate accounts.

Credit limits are put in place to be the maximum amount of money that can be borrowed or used through a financial product or service. They can be based on factors such as credit scores, credit history and income. For example, consumer credit cards are a form of an unsecured line of credit and the credit limit is the amount that can be charged on the card.

Imagine a stretch of land where financial institutions are as elusive as an oasis in the desert—that’s a banking desert, an area devoid of bank branches.