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 what’s due while maintaining the customer relationship, while the other…

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 hinder efforts to generate revenue and grow as well. There are a lot of unknowns ahead,…

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,…

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…

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…