What Should Your Credit Policy Include?
Getting crushed under unpaid invoices? Maybe you need a stronger credit policy. If your business extends credit to customers, you need a rock-solid credit policy that lets your customers know exactly what you expect from them and what they should expect from you. Otherwise, you’re asking for cash flow issues. Think of a credit policy […]
How Data Scrubbing Can Improve Your Collections
When it comes to collections, data quality matters. Data scrubbing offers an efficient and targeted method of management to help rid your database of inaccurate, outdated, corrupt, or otherwise ineffective data so you don’t waste time. Know Which Consumers to Target A data scrubbing program can clean your data so you don’t target customers whose information […]
3 Debt Collection Strategies That Work
When your customers owe money, you send an invoice and expect to receive a check in return. However, history tells us that you won’t hear anything but crickets chirping from some customers. About one in every 20 Americans has defaulted on some type of non-mortgage credit. You don’t have to resign yourself to writing off […]
Taking Legal Action Against Your Customers
Taking legal action against slow or non-paying customers is no easy decision. There are numerous factors that come into play when making such a decision, such as time and cost investments, as well as potential damages to customer relationships. There is even the likelihood of actually collecting the debt – which is sometimes no more […]
It All Starts with Credit
Did you know…Credit Application Internal collections policies and procedures actually BEGIN with the process of granting credit to a new prospective customer? Making use of a robust credit application (download a sample application here) during this process can serve a number of valuable purposes. For instance: It gives you (the creditor) more information on […]