by Tom Claybaugh, President, MSCCM | Jul 30, 2020 | Blog Posts
Despite sound credit-risk policies and proactive accounts receivable management, there will be times when you need to take action to collect past-due debt. However, there is a right way and a wrong way to go about it. One way will enhance your chances of collecting...
by Tom Claybaugh, President, MSCCM | Jul 16, 2020 | Blog Posts
The sudden and unexpected arrival of COVID-19 has thrown the economy into turmoil. Cash-strapped businesses may have to decide between paying employees, landlords, banks, or vendors. The inability to timely bill, collect overdue debt, and obtain supplies likely will...
by Tom Claybaugh, President, MSCCM | Jun 25, 2020 | Collections
When a supplier or subcontractor doesn’t get paid for materials or work on a construction project, they have two options for securing payment: a mechanics lien or payment bond claim. Both are tools for claiming what is owed in case of a dispute. Although they are...
by Tom Claybaugh, President, MSCCM | Jun 18, 2020 | Debt Collection
What started as a global health crisis is now a global economic crisis as well — and the financial ramifications will likely be around much longer than the health ones. One thing is certain: It’s going to be a rocky road for the financial services sector, including...
by Tom Claybaugh, President, MSCCM | May 21, 2020 | Commercial Credit Management
Artificial Intelligence (AI). It’s a hot topic, and to some, it’s can be a scary topic. The movies have not always portrayed AI in a very positive light, and in the workplace, many people are apprehensive that it might put them out of a job. In reality, AI has great...
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...
