Interested in learning more? Check out four credit risk protections you need for your B2B business
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The Blind Side: Is Your A/R Program Saving Customers’ Time and Effort?
I loved the book The Blind Side about the discovery of future NFL left tackle, Michael Oher, written by Michael Lewis and later adapted into a blockbuster movie starring Sandra Bullock. The story opens by explaining how the left tackle position, someone who never touches the football, has become one of the most highly paid… Read more »
Four Best Practices of A/R Automation That Cut Costs
My family has a clear, giant flower vase—I’m talking 2 feet high—that sits in the corner of the dining room. Every day, family members put any spare change we accumulate into the vase rather than bury it in dresser drawers or lose it. These quarters, dimes, nickels and pennies are both valuable and somewhat of… Read more »
Making Credit Policies that Reduce Risk and Encourage Growth
A strong credit policy is the cornerstone of every successful business. If your policy is lacking clear criteria, discipline or limits, you may be exposed to unnecessary risk. Here are five steps you can take with your credit program to turn a potential weakness into a competitive advantage that protects and bolsters your bottom line.… Read more »
All Customers Are Not the Same…So Don’t Treat Them That Way!
When managing your accounts receivable, do you have a one-size-fits-all approach to collecting late payments? Perhaps you shouldn’t. Every customer situation is different, and we advise companies to be strategic about how they collect. Specifically, they should make efforts to properly assess the true risk of not getting paid and also understand the relative profitability… Read more »
Three Ways Your Credit Program Can Give You a Competitive Advantage
Your products, pricing, and customer relationships are likely the cornerstones of how you attract and keep your customers. But have you ever considered how your credit program could provide you with a strong competitive advantage? If you are like many companies, your credit program probably doesn’t make you think about growth and competitive advantage. In… Read more »
Ten Insider Tips: How to Judge Creditworthiness
Protect Yourself From the Four Most Disruptive Credit Risks
Underestimating credit risk can turn a healthy business upside down quickly, so there’s a lot riding on your ability to minimize your exposure. When it comes to assessing risk, looks can be deceiving. You’ve heard stories of customers who looked big and sounded solid but ended up being insolvent—causing a nightmare for the companies left… Read more »
What is the True Cost of a Customer?
You May Be Surprised That Some Actually Cost You Money Most dealers precisely know their gross margins on a per-customer basis. Assume you’re a business with 40% gross profit margin. Of those 40 points, 25 are usually consumed by overhead, leaving you with a 15% net margin. Some dealers are higher, some lower. Very few… Read more »
Four Credit Risk Protections You Need for Your B2B Business
I was a victim of identity takeover a few years ago. In a big way. Professional fraudsters had hacked my personal email account, somehow figured out one of my recipients was my financial advisor, and researched my past communications to get a feel for how my financial advisor and I communicated. They managed to re-direct… Read more »