by Tom Claybaugh, President, MSCCM | May 7, 2020 | Credit Management
When extending credit to a customer, the payment terms often will depend on the current economic climate. When times are rough, such as a recession or slow down, customers may need extra time to pay their invoices. In uncertain times like what we are experiencing with...
by Tom Claybaugh, President, MSCCM | Apr 2, 2020 | Accounts Receivable Management
The construction industry is filled with challenges and risks of all kinds. One of the most serious for contractors and suppliers is getting paid. Because of the nature of the business, there is typically a lengthy time period between the delivery of the goods or...
by Tom Claybaugh, President, MSCCM | Feb 20, 2020 | Risk Management
Invoice disputes can interrupt cash flow and take time and effort to resolve. They also can damage relationships, if not handled properly. Here are some tips for managing your invoices and related disputes to reduce the impact they have on your business. Be proactive...
by Tom Claybaugh, President, MSCCM | Feb 6, 2020 | Credit Management
Every business is vulnerable to risk as a result of its supply chain — from the companies it works with to the products and services it relies on and produces. So when your credit department is considering extending credit to a business, it’s important to dig deeper...
by Tom Claybaugh, President, MSCCM | Jan 23, 2020 | Credit Account Management
Seasonal businesses are characterized by their short-term or seasonal peaks in operation. They tend to do significantly better during certain times of the year and experience lulls in between those times. For example, toy and jewelry retailers see sales jump at the...
by Tom Claybaugh, President, MSCCM | Jan 9, 2020 | Blog Posts, Credit Management
When businesses extend credit to commercial buyers, they are assuming a certain amount of risk, which is mitigated through sound credit risk management policies. Regardless of how diligent your credit approval processes are, you will inevitably have businesses that...
by Tom Claybaugh, President, MSCCM | Oct 24, 2019 | Cash Flow
Cash flow is critical to the success of your business. When cash is coming in, you can pay your operating expenses and reinvest in growing your business. When your cash flow is tied up in accounts receivable (AR), that cash is not available to spend. More businesses...
by Tom Claybaugh, President, MSCCM | Oct 10, 2019 | Commercial Credit Management
Most businesses today rely on extending credit to its business account customers. Unfortunately, there is always risk involved in lending, and it’s up to the lending company to perform due diligence before extending credit. One good source for information that will...
by Tom Claybaugh, President, MSCCM | Sep 26, 2019 | Credit Reporting
When you think of credit fraud, you typically think of the toll that ID theft and phishing scams have on personal financial accounts, but fraud takes a significant toll on businesses — by other businesses. Here’s what credit and financial professionals need to know...
