by admin | Feb 21, 2018 | Commercial Collection Series, Creating a Credit Policy
5. Be Organized. It is called Receivables Management because it needs to be managed. The previous point was about consistency, here we are talking about standardized processes. Every client should follow the same process for getting credit, and the same process for...
by admin | Feb 14, 2018 | Commercial Collection Series, Creating a Credit Policy
4. Be Consistent There needs to be a process in place, that follows a set pattern. Every customer or client should matriculate through the same process of being approved for credit, and the same process for processing their account. Be fair, and consistent, avoiding...
by admin | Feb 7, 2018 | Creating a Credit Policy
3. Which Leads us to… Put it in Writing! Credit is not a handshake, the idealistic 1940’s set it in stone with a handshake between honorable people, probably didn’t really happen in the 40’s and it certainly shouldn’t happen in today’s litigious society. Have it...
by admin | Jan 31, 2018 | Creating a Credit Policy, Extending Business Credit & Commercial Collections
2. Start with a credit policy – Be upfront. Before you extend that trade credit to your customer or client, be sure that they understand your credit policy – up front – no surprises. When both parties know what the arrangement is before any commerce occurs, then you...
by admin | Jan 22, 2018 | Commercial Collection Series, Creating a Credit Policy, Extending Business Credit & Commercial Collections
Once you have made the decision that you will be in the business of establishing lines of credit of some sort for your clients, the next step is to establish a clear credit policy and then, of course, to stick to it. Here is a quick series on getting from ground zero...
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