Ryan Howard

Ryan Howard
President / Partner BYL Risk Management, LLC
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Recent Posts

Does Your Business Use an Accounts Receivable Policy?

Listed as an asset on financial statements such as the balance sheet, accounts receivable is an important resource to your business. It's considered an asset because it can be converted to cash if collected within the payment terms set in your client contracts. If it's not collected in a timely manner, it becomes a drain on company resources. Policies and procedures must be documented to increase the success of these collections. 

Does your business use an accounts receivable policy?

Why SaaS Companies Need Debt Collection Services

A typical services contract requires a retainer or ongoing payments. Businesses selling software-as-a-service (SaaS), or anything else "as-a-service," rely on monthly or annual fees from subscribers. If those subscribers fail to meet their obligations, their accounts can be sent to collections for recourse. 

Non-payer churn is one of many reasons that Saas companies need debt collection services.

What to Include on Invoices so B2B Clients Pay on Time

Accuracy and details are crucial when invoicing business clients on retainer or for goods or services provided by your company. In fact, there are some attributes that can be added to invoices to prompt early payment or at least reduce the risk of late payments. 

Use these invoicing best practices so your B2B clients pay on time.

B2B Debt Collections that Speaks Your Language

Every industry has its own share of jargon, acronyms, and special terms. There's a level of trust that's gained when a business partner understands your industry or "speaks your language." When companies seek out debt collection agencies that they can trust, they also want to work with those who understand their industry. 

When a debt collections agency speaks your language, B2B account recovery can be more successful.

Is a Four-Day Workweek Right for Your Business?

The results are in. After a 6-month trial of over 60 companies in the United Kingdom, nearly every company in the pilot study has chosen to continue a four-day workweek. Company revenue stayed roughly the same during the trial but showed a 35% increase compared to similar periods in previous years. Most importantly, employee turnover was reduced by 57% with reports of improved well-being, better work-life balance, and reduced stress.

Looking closer, is a four-day workweek right for your growing business?

How to Efficiently Collect AR and Get Invoices Paid Faster

As accounts receivable (AR) begin to fall delinquent, your business expenses could fall delinquent as well. With every late-paying client, cash flow for payroll, rent, or other vendors falls short, threatening your company's bottom line and growth. The effectiveness of your accounts receivable department may be one of the most important measurements to determine the success of your business.

Use these tips to efficiently collect AR and get invoices paid faster.

How Your Business Can Find Cash & Stay Resilient in a Crisis

The recent Silicon Valley Bank crisis sent ripples through the world of small businesses, startups, and venture capital.  Thankfully, the crisis was mainly thwarted by getting bailed out and addressed by calls for regulation by the Biden administration. But it set enough investors on edge to recognize that it's not the first crisis to affect businesses, and it certainly won't be the last. 

Here's how your business can find cash and stay resilient in a crisis.

Inspiring Quotes from Women Leaders in Business

Women look to other female leaders to feel empowered as they break through glass ceilings and face various obstacles along the way.  It's important for them to clear a path for other women as well. Women leaders often face challenges such as more responsibilities within their homes and at their jobs, and when serving as entrepreneurs,  unequal access to venture capital.   Let's hear from some of them for more motivation for us all.

Read these inspiring quotes from women leaders in business. 

Advice for Busy Business Owners

When you own your own business, something always demands your attention. Whether it's troubleshooting office issues like internet outages, customer service challenges, or trying to get paid, entrepreneurship is a busy vocation. To grow your business, you may need to adjust your focus from putting out fires to looking at your business differently. 

Adjust your perspective with this helpful advice for busy business owners.

How to Deal with Clients Who Don't Pay

When you agree to do business with another company, the expectation is that you'll provide goods or services, and they'll pay in a timely manner. Providing the goods or services costs your company in overhead, salaries, expenses, and more. So what happens if your client doesn't pay on time or at all? Is there anything you can do to get paid or prevent late payments?

Here's how to deal with clients who don't pay.