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Mountain States Commercial Credit Management – elevated credit and collection services since 1988. Call us to improve your cash flow.    800-457-8244

Mountain States Commercial Credit Management Blog

Stay informed with the latest news from Mountain States Commercial Credit Management

Collecting What’s Due: Best Practices for Optimum Debt Recovery

Posted June 19, 2019 | Comments Off on Collecting What’s Due: Best Practices for Optimum Debt Recovery

In a perfect world, businesses would extend credit and the borrowing company would pay their invoices on time until fully repaid. Unfortunately, the business-to-business (B2B) credit world is not perfect, and businesses sometimes need to instigate collections procedures to recover bad debts. However, collecting on bad debt is a tricky path if you want to…


Choosing the Right Credit Management Partner

Posted May 30, 2019 | Comments Off on Choosing the Right Credit Management Partner

Does your company offer lines of credit to customers? Being able to conduct business by providing customers with credit options opens your company to important opportunities for better business relationships, cash flow, and growth. But that’s only if your credit accounts stay in good standing. If they don’t, your business could experience major financial turmoil….


Your Credit Policy Is Important — Get It in Writing

Posted May 16, 2019 | Comments Off on Your Credit Policy Is Important — Get It in Writing

A business’s credit policy is an essential guide for how the business manages credit risk. However, if you don’t document your policy clearly, different people may understand or apply it differently — which can lead to confusion, inconsistency, and even legal problems. Here are some tips for creating an effective credit policy for your business….


Best Practices for Improving Your Commercial Credit Risk Management

Posted April 25, 2019 | Comments Off on Best Practices for Improving Your Commercial Credit Risk Management

Most businesses must deal with credit risk. It’s unavoidable, but that doesn’t mean you can afford to ignore it. Although credit risk can’t be eliminated, it can be managed and mitigated through sound commercial credit risk management practices. Whether you’re the sole member of your credit management department or you work alongside a team of…


How Well Are You Managing Your Commercial Credit Portfolio?

Posted April 4, 2019 | Comments Off on How Well Are You Managing Your Commercial Credit Portfolio?

Do you know which of your B2B accounts are the most profitable and which are the riskiest? Do you know which accounts are consistently paying late? Do you know how much you can grow your business without incurring unacceptable credit risk? Do you know how to better protect your company against bad debt in the…


Artificial Intelligence and Commercial Credit: A Good Match?

Posted February 7, 2019 | Comments Off on Artificial Intelligence and Commercial Credit: A Good Match?

Over the past five years, artificial intelligence (AI) has slowly crept into the day-to-day operations of financial and credit companies across the world. In fact, what was once a new and novel technology utilized by the biggest international players has since morphed into an essential component for any forward-thinking financial institution. Want to get to…


Navigating the New Colorado Sales and Use Tax Law

Posted January 31, 2019 | Comments Off on Navigating the New Colorado Sales and Use Tax Law

December 1, 2018, saw the State of Colorado implement a new sales and use tax law that will leave a lasting impact on businesses of all shapes and sizes. But navigating this new legislation will be tricky. What follows is a comprehensive guide that will not only detail the latest developments from the statehouse and…


How to Request Financial Statements of Commercial Customers Ordering on Credit

Posted December 20, 2018 | Comments Off on How to Request Financial Statements of Commercial Customers Ordering on Credit

Commercial credit is a preapproved sum of money issued by suppliers to companies seeking to establish an open-ended, continuous business relationship with their suppliers. Widespread and commonplace, commercial credit is used to fund everyday operations, can be accessed by the borrower at any point, and is usually repaid within common terms like “Net 30.” Like…


How Should You Respond When a Customer Asks for Extended Payment Terms?

Posted December 6, 2018 | Comments Off on How Should You Respond When a Customer Asks for Extended Payment Terms?

Throughout history, credit terms and the way they’ve been offered have changed depending on the strength of the economy. For example, during the Great Recession, many credit managers found that their commercial customers needed extended time to pay their invoices. Businesses and individuals alike struggled to survive in the difficult reality of the stagnant economy….


Sales and Use Taxes: How to Prepare for an Audit

Posted July 31, 2018 | Comments Off on Sales and Use Taxes: How to Prepare for an Audit
Audit

Are you complying with sales and use tax laws? As a credit professional working with an industry supplier, you likely have an annual audit in your future, so it’s best to be prepared. Colorado sales and use tax laws can get complicated but, with the right knowledge, you can be ready for your next audit….