Archive for the ‘Risk Management’ Category
B2B Fraud: Do You Know the Signs?
Wednesday, September 28th, 2016One of the biggest credit management risks that business leaders face is something many may not have considered: business-to-business (B2B) fraud, including bankruptcy fraud. B2B fraud occurs when a member of a business you have contracted with purposefully and deceitfully defrauds your company by taking advantage of the credit you have lent without intent to…
Know the Red Flags of Credit Management
Tuesday, August 16th, 2016A credit report evaluation is a good first step in your credit review process, allowing you to see if a new customer is worth the risk. It can certainly offer valuable information, but to take this review a step further, you’ll need to look at the company’s financial statement as well. You’ll get a more…
Learn Why You Need to Understand Your Financial Supply Chain
Wednesday, July 13th, 2016When we think about credit management, it’s easy to get focused on the day-to-day operations of sending invoices and collecting payments. It can be hard to see the forest through the trees, so to speak. But if the recession of 2008 taught credit managers and business owners anything, it’s that they need to be prepared…
What Happens When Your Customer Declares Bankruptcy?
Tuesday, April 26th, 2016This spring, the consulting and research firm Deloitte produced a report that revealed a shocking statistic: As many as one-third of all oil and gas producing companies are at risk for bankruptcy in the coming year.1 Analysts at Reuters explained that although oil producing companies have been able to weather the downturn thus far, most…
Public-Private Partnerships: Can You Unravel the Red Tape and Get Paid?
Thursday, April 14th, 2016Construction projects across the nation — and in Colorado — are picking up as leaders of municipalities of every size are looking to upgrade infrastructure and provide enhanced public services. To finance these major projects, many public agency decision-makers partner with private-sector company leaders. These public-private partnership, or P3, projects provide a growing area of…
In the Weeds of Credit Management: Are Joint Check Agreements Good or Bad for Your Business?
Wednesday, April 6th, 2016Experienced credit managers frequently deal with joint check agreements, and you already probably understand that you need to treat such agreements on a case-by-case basis. But it takes time to gain the experience needed to determine whether a particular agreement will be good or bad for your business. For many teams, it’s helpful to have…
Low Gas Prices: Windfall or Natural Disaster?
Thursday, February 11th, 2016If you’re like most of us and have filled your car’s gas tank in the last few months, you’ve noticed significant savings; you might have even driven away with a smile. No one minds paying a bit less at the pump. Unfortunately, low gas prices don’t just affect our pocketbooks. They have a profound impact…
Avoid the No. 1 Mistake in Your Procure-to-Pay Cycle
Tuesday, September 29th, 2015For businesses working to maintain a healthy cash flow, managing what goes out is just as important as managing what comes in. A balanced purchase-to-pay (aka procure-to-pay or P2P) cycle is essential. However, mistakes in the process can be costly and can affect your entire supply chain. For example, failing to pay suppliers, transportation brokers,…
3 Stages of Credit Risk Management in Your Order-to-Cash Cycle
Thursday, September 17th, 2015A healthy cash flow is vital to any business, so naturally, businesses spend a lot of time tracking their order-to-cash cycle, that all-important process by which you deliver your goods and services and then get paid for them. Still, the cycle is complex, and payments are influenced by everything from the promises your salesperson makes…
In-depth Credit Reports Reduce Transportation Risk
Friday, August 28th, 2015One kink in the supply chain can cause a ripple effect that throws the whole process off course. Every business that operates in the transportation industry relies on the professionalism, integrity, and skill of every other partner in the supply chain. A commercial credit management partner like Mountain States CCM can help you use credit…