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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

Archive for the ‘Collections’ Category

Maintaining Customer Relationships While Collecting Unpaid Invoices

Thursday, May 27th, 2021

When a formerly prompt-paying customer falls behind in payments, there’s often a good reason. A tactful approach and willingness to negotiate will usually alleviate tension in the business relationship as well as get the debt paid.

3 Keys To Managing Remote Billing or Collections Employees

Wednesday, November 25th, 2020

In recent years, many companies have adopted remote work options, providing greater flexibility for their employees. This year, however, remote work environments were no longer an option, they became a necessity. For accounts receivable teams, working remotely can present unique challenges, not the least of which include the heightened security and privacy measures required for…

How to Make Collection Calls That Get Results

Thursday, September 3rd, 2020

Any conversation dealing with money, especially money that’s owed, has the potential to disintegrate into ugliness. That’s why understanding human nature is just as important as understanding Days Sales Outstanding (DSO) when it comes to making those difficult collection calls. The number one piece of advice is to be prepared. Check out the following tips…

When Is a Payment Bond Claim a Better Choice than a Mechanics Lien?

Thursday, June 25th, 2020

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 similar, there are key differences that will determine which…

The Right Collection Agency Can Mean the Difference Between Debt Recovery or Write-Off

Wednesday, June 26th, 2019

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…

4 Ways to Improve Your Profits Through Strong Collection Practices

Wednesday, March 1st, 2017

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…

Get Your Business Collections on the Global Scale

Wednesday, October 5th, 2016

Living in a truly global economy has international commerce on the rise. While it’s great for business, a unique set of risks comes with this new marketplace. Extending credit to a company leader overseas takes extra care because of the added risk and logistics involved in business collections on a worldwide scale. Global commerce can…

Collection Agencies: Friends or Foes?

Wednesday, September 21st, 2016

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…

To Get More On-Time Payments, Make Collections a Priority

Tuesday, May 24th, 2016

Have you ever procrastinated on a work task — even if it was important? We’re guilty, too. Procrastinating is common, especially with tasks we don’t like. All kinds of theories seek to explain why, but chances are it’s not because you’re lazy. Many researchers believe there are underlying psychological reasons1 for avoiding certain tasks: We fear…

3 Standard Questions for Screening Commercial Collection Agencies — Plus 1 You Can’t Skip

Tuesday, December 1st, 2015

Choosing the right commercial collection agency is a tricky step to take, especially with the number of agencies there are. It’s an important decision; in order for the partnership to work, you must turn over confidential information about your company and your customers, which means you must know that the agency has the integrity and…