Gauging your credit team’s performance is a good way to make improvements to your overall credit process. Many companies struggle in identifying useful metrics to assess their overall performance. When relevant metrics are utilized, the collection process bottlenecks can be … Read More »
The first step to communicate a sense of urgency with your delinquent customer is usually to send a collection letter. Understanding how to create the perfect collection letter will help you increase your odds of getting paid. Here are some … Read More »
At some point in time, your company will encounter a customer who is seeking an adjustment to their payment terms. The reasons they may need this can vary, but understanding how to better reach a compromise will help establish a … Read More »
Developing positive relationships with your customers will foster success for your business. This philosophy should also extend to the collection of payments. Viewing your collection process as a customer service asset will help your business maintain positive relationships and consequently … Read More »
The amount of time it takes to get paid will vary by industry and on the payment terms that were agreed to in the credit agreement. If you switch from Net-30 to Net-15 you will obviously receive payment quicker. Yet, … Read More »