Blogs

Fraudsters Continue to Target Check Payments A large majority of organizations are still using checks for outgoing payments and checks continue to be the primary target of payments fraud. Without preventative measures in place, every check payment could be exposing an organization to fraud. AFP reported the following as tools and processes companies have implemented to protect their business: ACH Fraud On The Rise As more companies make the transition from paper checks to electronic payments, the Association of Financial Professionals reported an increase in the number of organizations...

The Cash Conversion Cycle (CCC) measures how much time it takes for your business to convert inventory or other resources into cash from sales. Creating efficiencies with the CCC is one way to increase working capital without generating additional revenue. There are three important factors that affect your CCC: Days Inventory Outstanding (DIO): Measures how quickly your business converts materials into products. Releasing additional working capital into the CCC will allow your business to purchase needed inventory. Access to additional working capital may also allow your business to take...

Your HTLF fraud partners, Director John Fick, and Fraud Risk Manager Tracy Swaim, along with their teams, work daily to help prevent and mitigate fraud loss for our clients. Now more than ever, small businesses are at an increased risk of fraud. Due to Covid-19, inflation, and rising interest rates, some small businesses are forced to work on a skeleton crew, meaning fewer eyes looking for potential scams. Falling victim to fraud can cost your business precious resources including time and money. Learn more in our latest article about what you can do to help protect yourself and your business...

The economic forecast may be uncertain, but preparing for potentially inflated rates is the smartest course of action. Liquidity management is a lot of work, but the benefits can help your business thrive rather than survive. Learn more about how you can keep your business afloat in every season. A fluctuating economic environment, such as the one we’re currently experiencing, has historically pointed toward the imminent possibility of a recession. While forecasts aren’t 100% reliable, proactive leaders should prepare for future economic turmoil by reimagining their company’s liquidity...

Unfortunately, it’s no longer a matter of “if,” but rather “when” payments fraud will impact your business. As you look at your payment strategy, does it minimize your risk to fraud? Like many businesses, your strategy may be highly focused on check payments, the most compromised payment type. Sixty-six percent of businesses said their companies experienced check fraud as part of the 2021 Association of Financial Professionals Payments Fraud and Control Report. While other payment methods have been targets, the risk significantly decreases with others; a breakdown is below. Tools and Best...