Great Questions To Ask When Hiring in the Credit Department
Finding the right questions to ask in an interview can be hard. You somehow have to encompass the responsibilities of a given position into a series of questions. You need to see how they respond to...
View Article6 Ways To Be a Better Negotiator
Negotiating is not a brute force task; it is one that requires patience, knowledge, and understanding. This is even more important when it comes to collections. Here are some helpful hints to remember...
View ArticleWhy All Salespeople Should Understand Credit and Collections
Making a sale is a great feeling, but if it is on unfavorable or unsustainable credit terms it will ultimately cost you time and money in the long run. We too often hear stories of sales pushing for...
View ArticleWhy You Are Not Getting Paid
No matter how well run your credit department is, customers will always find a way to not pay on time. It is an unfortunate, yet inevitable, part of extending credit. Switching credit terms and...
View ArticleHow to Read a Cash Flow Statement
Understanding how to read a cash flow statement is an essential part of doing business. Here is a quick step by step guide to help you with the basics and understand what you are looking for. Start...
View Article3 Credit and Collection Pitfalls to Avoid
Improving your credit and collection process is rarely a glamorous or fun job, but is still one of the most important things you can do to improve your bottom line. A robust and well tested credit...
View ArticleWhat to Know About Collection Suits
Even with the best credit and collection practices, some of your cases may still end up in court. It is a tedious and time-consuming process, but it is sometimes your best course of action both as a...
View ArticleUsing Liens to Make Your Credit Process Safer
As we have written in the past, sometimes making risky credit decisions can be beneficial to your business. In certain situations, especially when a physical product is involved, these riskier credit...
View ArticleDon’t be Afraid to Switch Credit Terms
The standard convention for credit terms has always been net-30. It provides your customers with enough time to pay but also allows you to receive payment within a reasonable amount of time. It seems...
View ArticleFinding the Right Balance in Collecting
It has long been a misunderstanding that the perfect collection team is comprised of cut-throat employees that will resolve the conflict and obtain maximum compensation at all cost. While the primary...
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