by Tom Claybaugh, President, MSCCM | Mar 20, 2018 | Blog Posts
It isn’t uncommon for credit managers to provide services or products to customers on credit. But when subcontractors complete work only to discover that their payments won’t arrive as agreed, credit managers need to act. On construction projects, one good place...
by Tom Claybaugh, President, MSCCM | May 1, 2017 | Blog Posts
Conflict with customers, particularly over broken promises or missed payments, is unavoidable. No matter how great your customer service, employee relations, prices, or services are, it’s inevitable: Someone will be dissatisfied — and tempers may even flare. Instead...
by Tom Claybaugh, President, MSCCM | Mar 29, 2017 | Commercial Credit Management
Many company owners take time to develop onboarding plans for their new hires. This onboarding generally includes an overview of the company and employees’ new roles as well as on-the-job training sessions to familiarize employees with their new positions. Too often,...
by Tom Claybaugh, President, MSCCM | Mar 1, 2017 | Collections
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...
by Tom Claybaugh, President, MSCCM | Feb 13, 2017 | Underwriting
You should never underestimate the power of a strong credit policy. Business operations depend on cash flow, which depends on customers’ reliability to pay invoices. You should base your credit policy on numerous factors, including how well it suits your business...
by Tom Claybaugh, President, MSCCM | Jan 31, 2017 | Risk Management
The start of a new year is always a good time to review your credit management and collections policies. Are your systems functioning properly? Are you managing risk in a way that makes sense for you and your business? If you answered “no” or aren’t...
by Tom Claybaugh, President, MSCCM | Jan 19, 2017 | Blog Posts
To keep your business running smoothly and effectively, you must be able to determine whether it’s worth extending credit to individuals or business leaders in a timely fashion. If your process is too fast, you run the risk of making mistakes; if it’s too slow, you...
by Tom Claybaugh, President, MSCCM | Dec 14, 2016 | Blog Posts
Before venturing out to start small businesses, people often ask themselves, “How will this affect my personal financial situation?” Many are fearful new venues will have negative implications on their personal credit and debt ratios. In The Face of Small Business...
by Tom Claybaugh, President, MSCCM | Sep 28, 2016 | Risk Management
One 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...
