Reserve for bad debts is a financial provision set aside by businesses to account for potential future losses due to unpaid accounts. It is or are a precautionary measure against the risk of customers defaulting on their payment obligations. Establishing a reserve for bad debts is or are a prudent practice to ensure accurate financial reporting and mitigate the impact of potential losses on the company’s bottom line.
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Emagia is a leading provider of AI-powered Order-to-Cash (O2C) automation platform that modernizes finance operations for midsize to large global businesses. Many global businesses and shared service centers use Emagia’s Enterprise Receivables Management System to transform to digital world-class operations in credit, invoicing and payments, receivables, collections, deductions, cash application and cash forecasting. Emagia solutions improve their customers DSO, cash flow, credit risk, operational cost, compliance and profitability.
