Customer Proposed A Payout Plan? Here’s What to Ask
Accepting a proposal for a payout plan from a delinquent customer can be dicey business. As a credit professional, you know the devil is in the details. So before you sign on any dotted line, ask the...
View Article7 Strategies Successful Collectors Use
To find success as a commercial debt collector, one must master two things: the data & details of each case AND his or her own personality in customer interactions. When it comes to the data &...
View ArticleDon’t Block Communication With These Mistakes
Effective communication is an ancient challenge. Relationships of all kinds meet their end over faulty attempts at verbal connection. Most of us respond to failed communication with blame shifting:...
View ArticleTrouble Ahead: 20 Things Your Sales Team Should Report
As the credit professional, it’s your job to spot trouble on the horizon. And the earlier the better! An occasional off-schedule payment from an otherwise dependable customer can signal trouble, but...
View ArticleHiring In The Credit Department? Ask These Questions
What are your standard, go-to questions when questioning a credit candidate? Like so many key positions in a company, the role of Credit Professional can be a challenging one to fill. People don’t...
View ArticleProtect Yourself from Fraudulent Checks
During the holidays and the huge sales thereafter is a hot time for bad checks. It’s certainly not limited to holiday time, but it seems that criminals take a liking to the holiday season in ways that...
View ArticleSocial Media and Collections
Social media is hard to avoid these days. Some people love it, others despise its constant presence, but one things for sure: it is here to stay. Yet, can a business really use it to improve their...
View ArticleWhy It is Important to Properly Staff Your Credit Department
When it comes to credit department staffing two things are important 1. Use technology, analytics, and business processes to minimize staffing. 2. Never understaff your credit department. As a credit...
View ArticleHow to Improve Your Business Practices
We recently wrote an article on the importance of properly staffing your credit department. One of the ways to achieve this is to constantly question and analyze what you are doing. One of the worst...
View ArticleUsing Data to Change your Credit and Collection Process
Data is quickly becoming the currency of the 21st century. It seems like every company is constantly trying to get more and more of it, but what for? Despite the negative press around how data is...
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