Mountain States Commercial Credit Management Blog
Stay informed with the latest news from Mountain States Commercial Credit Management
Sales and Credit Departments: Working Together for a Common Goal
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In a B2B environment, the sales and credit departments represent two different perspectives on growing the business. Sales wants to sell products or services to any interested customer. The credit department wants to make sure the sale represents revenue rather than uncollected debt. Although both departments are critical to the financial health of the organization,… |
Does Your Average DSO Indicate Problems With Your Accounts Receivable Practices?
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A company’s cash flow is a critical factor for its success. Collecting outstanding accounts receivable will help keep the cash flowing. One method for evaluating how efficient your accounts receivable processes are is by measuring Days Sales Outstanding (DSO). Here is a review of DSO, its significance to your company, and how you can lower… |
The Right Collection Agency Can Mean the Difference Between Debt Recovery or Write-Off
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You’ve weighed your options and realize that without the help of a credit agency, you likely won’t retrieve the money owed to your business. So, where do you start? What should you be looking for in a collection agency? When is it time to call in a collection agency? Businesses are often hesitant to call… |
Collecting What’s Due: Best Practices for Optimum Debt Recovery
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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
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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
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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
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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?
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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?
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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
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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… |