Mountain States Commercial Credit Management Blog

Do you have past-due credit accounts that you’ve tried everything to collect on? Perhaps you’ve given debtors reminders, warnings, written demands, calls, and maybe event in-person visits — but you still aren’t getting any responses. To get the most out of your overdue accounts, you’ve likely exhausted all your options. The next logical plan of…

If you have heard anything about commercial collection agencies, chances are it was not necessarily positive. Maybe you heard collection agencies are expensive or their employees ruthless — or perhaps that they are simply unnecessary. As a result of these misgivings, collection agencies often suffer poor reputations. However, these agencies and the professionals their directors…

Unfortunately, some fraud likely exists in your firm right now. Do not wait until you identify a problem to take action and protect your assets.

Conflict with customers, particularly over broken promises or missed payments, is unavoidable. No matter how great your customer service, employee relations, prices, or services are, it’s inevitable: Someone will be dissatisfied — and tempers may even flare. Instead of avoiding conflict, you and your staff members can use effective conflict resolution skills to help resolve…

Company owners often underestimate the effects of proper training on their employees — and especially on their bottom lines. How could excellent credit management training can help increase your profitability?

It isn’t uncommon for business leaders to provide services or products to customers on credit. But when subcontractors complete work only to discover that their payments won’t arrive as agreed, credit managers need to act. On construction projects, one good place subcontractors and suppliers can start is obtaining mechanic’s liens. Timely filing is key Most…

One major challenge in extending credit to customers is maximizing collection returns. Meanwhile, you need to have strong credit policies in place to minimize risk. Here are four ways business leaders can improve their profits: 1. Analyze collection trends. Collection trends provide great data about credit policies. Chances are you’ll see both positive and negative…

You should never underestimate the power of a strong credit policy. Business operations depend on cash flow, which depends on customers’ reliability to pay invoices. You should base your credit policy on numerous factors, including how well it suits your business needs, and know when you should review your policy. Risk strategies versus organizational needs…

The start of a new year is always a good time to review your credit management and collections policies. Are your systems functioning properly? Are you managing risk in a way that makes sense for you and your business? If you answered no or are not sure how to answer these questions, now is a good time to fine-tune your credit risk management process.

To keep your business running smoothly and effectively, you must be able to determine whether it’s worth extending credit to individuals or business leaders in a timely fashion. Try these strategies to speed up your application process while maintaining system integrity.