From The Virtual Credit Manager Payment Terms define when a customer is supposed to pay your invoice for the products and/or services you provided, at your expense, using your cash. The “norm” is 30 days Read More …
Calling in the Collection Cavalry – How to Get the Most out of Your Collection Agency Relationship
From the Virtual Credit Manager There will inevitably be a day when you realize your collection efforts are not getting a delinquent customer to pay their bill. Despite all the correspondence, calls, excuses and possibly Read More …
Effectively Collecting Receivables Is a Time Management Challenge
From The Virtual Credit Manager Effective collections is the single most important factor for achieving reliable cash inflows. Customer payments for products and services provide the lifeblood of most companies, funding new inventory as well Read More …
The Credit Research Foundation Releases Q3 Perspective
The Q3 edition of our newsletter, Perspective by CRF, was released today! It’s full of great articles on topics such as 503(b)(9), credit card surcharging, AR automation, the new guide to remittance information and a Read More …
Tip: Is Your Customer Telling You the Truth, or Trying to Deceive You – Ten Things You Can Do to Find Out
Originally published in CreditToday. Anyone involved in trade collections has, or eventually will, encountered a customer who is hiding something and trying to deceive you. We may be heading for hard times this coming Read More …
Are Your Invoices Delaying Customer Payments?
From The Virtual Credit Manager The Importance of Timely, Complete and Accurate Invoices While it is true that accurate invoices are sometimes lost or paid slowly, a major cause of delinquent receivables is failing to meet Read More …
The Case for Outsourcing Collections – published August 23, 2022 in Your Virtual Credit Manager
Don’t Overlook the Strategic Opportunity Provided by Outsourcing Collections Small businesses have to deal with many of the same challenges as larger ones. A key difference (besides volume of transactions) is the lack of labor Read More …
Credit Today – Tip: The Six W’s of Managing Up
There is a lot of information available about how a Credit Manager can best manage credit department staff. Another critical topic is how to manage up. The interaction and support you offer your manager when Read More …
