Banks are experts in lending; your company isn’t. I know that sounds really simple but the fact is that companies like yours lend the use of your “money” to their customers all the time by allowing them to purchase goods or services on credit. The reason is simple: in the short term, your customer can buy from you on credit, use that product to make money and then repay that money back to you.
At least that’s how it’s supposed to work. Unfortunately, due to their banks restricting access to cash, your customers might now buy your product on credit, get paid and then use that money for something else rather than paying you. Now you’re a banker, because that’s what a bank does. The only difference is that the bank has complete financial information on your customer and secures their assets before loaning out money. You, most likely, are just looking at other creditors’ actions and matching everyone else’s offers.
Often when customers “borrow” from you, you think you’re helping by providing them all this free credit. You’re trying to help the customer, but you’re putting your own cashflow in jeopardy because you go into the deal not understanding the risk and then end up borrowing the money to finance your customers: some of whom will never be able to repay you.
What should you do if you’re caught in this dangerous cycle? Increasing your due diligence in extending credit is the most obvious solution. Another is to stop shipping to those who are significantly past due (twice terms or more). Even if you don’t do the due diligence up front, you can insist that they have to pay you on time now. This is the model the utilities companies use. They’ll let you use their utilities for a month or two, but then if you don’t pay, they’ll shut you off.
If you want to do more, alter your sales commission structure so that it pays Sales when the money comes in, not when the sale is made. Another strategy is to service charge customers for past due balances.
You need to understand that extending free, uninterrupted credit is not actually helping some of your customers. Trade credit is not a substitute for bank credit. You are taking all the risk without enough reward. There’s a reason why you aren’t in the banking business; you’re in the trade credit business.
Thursday, June 3, 2010
Creating a Low Risk Credit Portfolio
Many mid-sized businesses can name their top ten customers by sales volume but have no simple way to determine their top ten biggest credit risks. If you’re in one of these companies, you may feel it’s inevitable that you’ll have to write off a certain percentage of sales as bad debt. Mind if I shock you by saying it’s possible to create a credit department that has no write-offs? It is.
We have a client whose gross margins are about 2%; they are in a high risk industry and they invited us in to design a credit system with zero tolerance for write-offs. One bad credit decision could wipe out their year’s profit. Your business probably doesn’t need to be that strict, but I want to emphasize that it is possible to have very low or zero bad debt in your company. Most companies I talk to don’t understand that they could get to zero if they wanted to.
How do you do this? Start by having every company that buys from you formally apply for credit. Smaller companies and those growing quickly tend to allow anyone to order from them without even asking what the legal name of the entity is. Often we only find this out by looking at the checks where the legal name must appear. If a lot of your business is not done on contract, you need to have the customer sign YOUR contract, your credit application, to at least put them through a process that collects basic information about their company. Essentially you want them to apply for credit terms, though you may not describe it that way.
You don’t have to tell your customers, “We want you to apply for credit.” Often we describe the credit application form we use to collect information as a “customer profile.” For both new and existing customers, it’s easy to say, “Could you please fill this out so we can get you set up in our system?” or “We’re updating our files for 2010 and we’d like you fill out this profile to make sure we’re up to date.”
Once you have this information, it’s your credit department’s job to analyze the risk and recommend how much you should take. By knowing the amount of risk your customers represent, you can make stronger choices. For high risk customers, don’t give them the best deals and pricing, and consider not shipping to them when they become past due. You don’t need to refuse to sell to high-risk customers, but you can ask them to pay cash, use a credit card, partial down payment, or a Letter of Credit for security.
As in the example I mentioned at the start, you need to realize that the lower the margin, the more due diligence you need before you extend credit to a customer. You may want to segment your customer list and take more risks only where the margins are higher (perhaps on services, which tend to be higher margin than products).
How did our client reduce their risk to zero? All of their customers sign a credit application and they have very short terms. They don’t allow any account to buy on credit without verifying bank balances, and they call all customers when invoices age just a few days past terms. Your business probably doesn’t need to be this strict, but by having current information from all your customers, you can make wise decisions about how much credit you can afford to extend to them.
We have a client whose gross margins are about 2%; they are in a high risk industry and they invited us in to design a credit system with zero tolerance for write-offs. One bad credit decision could wipe out their year’s profit. Your business probably doesn’t need to be that strict, but I want to emphasize that it is possible to have very low or zero bad debt in your company. Most companies I talk to don’t understand that they could get to zero if they wanted to.
How do you do this? Start by having every company that buys from you formally apply for credit. Smaller companies and those growing quickly tend to allow anyone to order from them without even asking what the legal name of the entity is. Often we only find this out by looking at the checks where the legal name must appear. If a lot of your business is not done on contract, you need to have the customer sign YOUR contract, your credit application, to at least put them through a process that collects basic information about their company. Essentially you want them to apply for credit terms, though you may not describe it that way.
You don’t have to tell your customers, “We want you to apply for credit.” Often we describe the credit application form we use to collect information as a “customer profile.” For both new and existing customers, it’s easy to say, “Could you please fill this out so we can get you set up in our system?” or “We’re updating our files for 2010 and we’d like you fill out this profile to make sure we’re up to date.”
Once you have this information, it’s your credit department’s job to analyze the risk and recommend how much you should take. By knowing the amount of risk your customers represent, you can make stronger choices. For high risk customers, don’t give them the best deals and pricing, and consider not shipping to them when they become past due. You don’t need to refuse to sell to high-risk customers, but you can ask them to pay cash, use a credit card, partial down payment, or a Letter of Credit for security.
As in the example I mentioned at the start, you need to realize that the lower the margin, the more due diligence you need before you extend credit to a customer. You may want to segment your customer list and take more risks only where the margins are higher (perhaps on services, which tend to be higher margin than products).
How did our client reduce their risk to zero? All of their customers sign a credit application and they have very short terms. They don’t allow any account to buy on credit without verifying bank balances, and they call all customers when invoices age just a few days past terms. Your business probably doesn’t need to be this strict, but by having current information from all your customers, you can make wise decisions about how much credit you can afford to extend to them.
Finding Cash in Your Credit Department
Most mid-market companies understandably focus far more effort on sales than on their credit management. You may think the best way to bring in more cash quickly is to increase your sales; you’d be surprised how much cash you can find when you look inside your own credit department
In the last few years, during the recession, we’ve seen more mid-sized companies extending more credit to their customers, especially as banks are lending less. Your company isn’t set up to lend the way a bank does, and yet you may find yourself in a situation where customers are owing you substantial amounts of money that are 90 days or more past due. That might sound like very bad news, but there are techniques for turning that receivable into cashflow for your company.
One technique is to set up installment plan notes for repayment over a period of three to 18 months. We implemented this recently with a client who had been allowing some of their customers to pay whenever they wanted. In this case, nearly 100 customers owed over $1 million in bills aged 90 days or more. These customers had simply gotten in over their heads; most weren’t trying to dodge their obligations and wanted to continue to do business with our client.
We worked with our client’s customers to set up secured installment notes and allowed customers to pay down their debt at a scale that worked for them. For security, we filed UCC’s on the new notes in the event the customer defaulted, went into bankruptcy, or tried to sell the business without paying us. With each customer, we discussed their budget to find the right amount of frequency and dollar amount for their recurring payment. The previous strategy of calling every week and obtaining small payments was frustrating for both sides. No improvements were made as old balances were simply offset by new sales. Our installment note plans called for new sales to be made on COD so the balances didn’t increase.
As I write this, nearly 60% of that $1 million has been paid back to our client. Only 14% of the notes have gone into default. Setting up this system gave our client an extra $50,000 to $75,000 a month in cashflow. We implemented this system while sales were declining because of the recession, bringing in cash our client never expected to see. In addition, this plan allowed them to salvage relationships with many good customers who wanted to continue buying from our client but had been slipping further and further into debt.
I hope more mid-sized companies will realize the potential cash available to them through smart credit management practices. Your credit department doesn’t have to be a source for only bad news. With the right techniques, you can turn your credit department into a source of support for your business goals.
In the last few years, during the recession, we’ve seen more mid-sized companies extending more credit to their customers, especially as banks are lending less. Your company isn’t set up to lend the way a bank does, and yet you may find yourself in a situation where customers are owing you substantial amounts of money that are 90 days or more past due. That might sound like very bad news, but there are techniques for turning that receivable into cashflow for your company.
One technique is to set up installment plan notes for repayment over a period of three to 18 months. We implemented this recently with a client who had been allowing some of their customers to pay whenever they wanted. In this case, nearly 100 customers owed over $1 million in bills aged 90 days or more. These customers had simply gotten in over their heads; most weren’t trying to dodge their obligations and wanted to continue to do business with our client.
We worked with our client’s customers to set up secured installment notes and allowed customers to pay down their debt at a scale that worked for them. For security, we filed UCC’s on the new notes in the event the customer defaulted, went into bankruptcy, or tried to sell the business without paying us. With each customer, we discussed their budget to find the right amount of frequency and dollar amount for their recurring payment. The previous strategy of calling every week and obtaining small payments was frustrating for both sides. No improvements were made as old balances were simply offset by new sales. Our installment note plans called for new sales to be made on COD so the balances didn’t increase.
As I write this, nearly 60% of that $1 million has been paid back to our client. Only 14% of the notes have gone into default. Setting up this system gave our client an extra $50,000 to $75,000 a month in cashflow. We implemented this system while sales were declining because of the recession, bringing in cash our client never expected to see. In addition, this plan allowed them to salvage relationships with many good customers who wanted to continue buying from our client but had been slipping further and further into debt.
I hope more mid-sized companies will realize the potential cash available to them through smart credit management practices. Your credit department doesn’t have to be a source for only bad news. With the right techniques, you can turn your credit department into a source of support for your business goals.
Thursday, May 14, 2009
Fear of "The Money Talk"
Companies are grappling with a challenging cash flow environment. They're concerned about their customers defaulting on payments or just slowing down payments to preserve their own cash. When finding solutions for clients to improve cash flow, we find a common theme in most organizations: the crazy fear of talking to their customers about money.
Sales trainers will say that the fear of "The Money Talk" causes many sales people to fail. If the customer doesn't have a budget, can't afford what you're selling, or doesn't have the authority to buy anything, why are you wasting so much time trying to get them to purchase? The same could be said for managing the receivable after the sale.
This current economic climate is forcing many suppliers to become their customers' financiers. When the banks won't renew credit lines and the customers aren't generating profits or positive cash flow, vendors become the main financing choice. Actually, we're usually the financing choice because we unsecured creditors consistently provide free credit without the benefit of thoroughly understanding the risk. We fall in love with increasing sales and doing the deal while too often ignoring the risks of financing our customers' businesses. Too many suppliers are eager for business and afraid to Talk Money with the customer.
It's time for creditors to talk money. If customers are requesting extended terms or want increases in credit lines, find out if they qualify. Ask them to sign applications so you can check bank and trade information as well as public records. If the amount is substantial (we use $250k as our cut-off), tell them you need financials to verify the risk. This "don't ask" policy for fear of "insulting" customers needs to end. No one should be granting credit, let alone extending ridiculously long terms (beyond 30 days) without financial justification. If customers balk that you want to know how they're doing, it's a sign--a very bad sign. Well-run businesses, big and small, understand you need information to grant credit. Gone are the days of granting terms based on the old "we know these people, and they're good for it".
We need to turn the "Fear of Money" discussions into a free-flow discussion about what we creditors need to make a sound decision. Customers shouldn't be bullying you into making a bad decision. Let the poorly run customers go to your competitors and not pay them. Studies show nearly one-third of customers, on average, aren't profitable to the vendor. I would guess most of these are of poor credit quality.
There's no time like the present to explain to the customer what you need to get the money discussions going. Just say that your bank and vendors are doing the same to you, so you need to have standards in place. Without these frank talking points with your customer, the Fear of The Money Talk will drive you out of business.
Sales trainers will say that the fear of "The Money Talk" causes many sales people to fail. If the customer doesn't have a budget, can't afford what you're selling, or doesn't have the authority to buy anything, why are you wasting so much time trying to get them to purchase? The same could be said for managing the receivable after the sale.
This current economic climate is forcing many suppliers to become their customers' financiers. When the banks won't renew credit lines and the customers aren't generating profits or positive cash flow, vendors become the main financing choice. Actually, we're usually the financing choice because we unsecured creditors consistently provide free credit without the benefit of thoroughly understanding the risk. We fall in love with increasing sales and doing the deal while too often ignoring the risks of financing our customers' businesses. Too many suppliers are eager for business and afraid to Talk Money with the customer.
It's time for creditors to talk money. If customers are requesting extended terms or want increases in credit lines, find out if they qualify. Ask them to sign applications so you can check bank and trade information as well as public records. If the amount is substantial (we use $250k as our cut-off), tell them you need financials to verify the risk. This "don't ask" policy for fear of "insulting" customers needs to end. No one should be granting credit, let alone extending ridiculously long terms (beyond 30 days) without financial justification. If customers balk that you want to know how they're doing, it's a sign--a very bad sign. Well-run businesses, big and small, understand you need information to grant credit. Gone are the days of granting terms based on the old "we know these people, and they're good for it".
We need to turn the "Fear of Money" discussions into a free-flow discussion about what we creditors need to make a sound decision. Customers shouldn't be bullying you into making a bad decision. Let the poorly run customers go to your competitors and not pay them. Studies show nearly one-third of customers, on average, aren't profitable to the vendor. I would guess most of these are of poor credit quality.
There's no time like the present to explain to the customer what you need to get the money discussions going. Just say that your bank and vendors are doing the same to you, so you need to have standards in place. Without these frank talking points with your customer, the Fear of The Money Talk will drive you out of business.
Wednesday, October 8, 2008
Cash Will Always Be King
"We're really not all that concerned about our cash."
The CEO telling me this last year runs a $100 million manufacturing company and didn't see the need to get his customers to pay him on time. This public company had substantial cash equity infusions at the time and a large bank credit line available. Most likely, his thought was "What's the point in spending resources to maximize cash flow when you can easily raise whatever debt or equity you need?" If that CEO hasn't changed his tune by now, his lenders will most likely be forcing him to reconsider.
So what are companies to do? It's time for that CEO and everyone else to focus on maximizing cash flow from operations and creating efficiencies in their order-to-cash cycle--including turning those receivables to cash as quickly as possible.
Here are some quick strategies to implement now:
1) Most importantly, analyze the risk of default for EVERY SINGLE CREDIT CUSTOMER to price the risk appropriately and to set credit lines within your risk tolerance. With the ongoing deterioriation in receivables quality, you must constantly monitor the ever-changing credit quality of your customers so you can minimize bad debt losses on high-risk accounts.
2) Whenever practical, offer cash discounts for early payment to speed up cash flow.
3) Focus on the large, frequent slow-pay customers to firmly enforce your contract terms. Work with them to secure timely payments.
4) Automate the collection activity. No collection department should be working from paper agings or spreadsheets. Databases, including automated scheduling, will organize the work to maximize collection efforts to get you paid faster.
5) Challenge unauthorized short pays over your tolerance. Don't allow customers' payment shortages to just be written off to some type of "slush fund". Challenge customers with their deduction claims and aggressively collect back the deductions taken in error. You can prevent future short pays by swiftly dealing with these types of receivables balances.
This credit meltdown has knocked many companies off balance from their years of relying on the debt and equity markets to make up the difference in their poorly executed order-to-cash cycle. It's time for companies to take control of their own cash flow and focus on what's most important for them to survive the meltdown. Sales, assets, and profits mean very little without cash. Cash has been, and will always be, king.
The CEO telling me this last year runs a $100 million manufacturing company and didn't see the need to get his customers to pay him on time. This public company had substantial cash equity infusions at the time and a large bank credit line available. Most likely, his thought was "What's the point in spending resources to maximize cash flow when you can easily raise whatever debt or equity you need?" If that CEO hasn't changed his tune by now, his lenders will most likely be forcing him to reconsider.
So what are companies to do? It's time for that CEO and everyone else to focus on maximizing cash flow from operations and creating efficiencies in their order-to-cash cycle--including turning those receivables to cash as quickly as possible.
Here are some quick strategies to implement now:
1) Most importantly, analyze the risk of default for EVERY SINGLE CREDIT CUSTOMER to price the risk appropriately and to set credit lines within your risk tolerance. With the ongoing deterioriation in receivables quality, you must constantly monitor the ever-changing credit quality of your customers so you can minimize bad debt losses on high-risk accounts.
2) Whenever practical, offer cash discounts for early payment to speed up cash flow.
3) Focus on the large, frequent slow-pay customers to firmly enforce your contract terms. Work with them to secure timely payments.
4) Automate the collection activity. No collection department should be working from paper agings or spreadsheets. Databases, including automated scheduling, will organize the work to maximize collection efforts to get you paid faster.
5) Challenge unauthorized short pays over your tolerance. Don't allow customers' payment shortages to just be written off to some type of "slush fund". Challenge customers with their deduction claims and aggressively collect back the deductions taken in error. You can prevent future short pays by swiftly dealing with these types of receivables balances.
This credit meltdown has knocked many companies off balance from their years of relying on the debt and equity markets to make up the difference in their poorly executed order-to-cash cycle. It's time for companies to take control of their own cash flow and focus on what's most important for them to survive the meltdown. Sales, assets, and profits mean very little without cash. Cash has been, and will always be, king.
Saturday, August 16, 2008
They're Good For It
The prospect looked great on paper. They told the creditor that they had been in business 10 years, their sales were $50 million, and they provided those commonly-requested three trade references. The creditor's research showed high credits from $20-$100,000, net terms, all prompt payments. Unfortunately, for the creditor, they suffered a $30,000 loss on a first sale to this customer by following a very common, yet outdated business practice of checking trade references to make credit decisions. The company turned out to be as bogus as their references.
In this day and age, it's still common practice for companies to check trade references to help make credit decisions. This is an ancient practice urgently needing updating. Nothing is more naive than granting credit based solely on heresay. Can you imagine a bank providing loans based only on your references? This sounds ridiculous, but commercial creditors everywhere rely on heresay to make their own credit decisions everyday.
While it isn't always a worthless process to check references, it needs to be done smartly:
1) Skip checking trade references unless you know the creditors to be reliable. If you've never heard of the company or can't verify their integrity, don't bother.
2) ALWAYS, ALWAYS, ALWAYS check bank references unless you can verify cash balances and credit line information through a public source.
3) If you do check reliable trade references, take their information in the context of their risk versus yours. If the reference comes from a big company and you're small, don't kid yourself that you'll be paid the same way. Larger companies generally have more power than small companies to get paid within terms.
4) NEVER simply rely on trade references to determine credit worthiness. Pull a D&B or Experian to see how your prospect pays ALL their creditors, not just the top three they handpick for you to call.
Companies that rely solely on trade references are only analyzing a small piece of a large puzzle. When companies default on payments based on an incomplete process, you'll then have a chance to realize which pieces you should've taken the time to put together.
In this day and age, it's still common practice for companies to check trade references to help make credit decisions. This is an ancient practice urgently needing updating. Nothing is more naive than granting credit based solely on heresay. Can you imagine a bank providing loans based only on your references? This sounds ridiculous, but commercial creditors everywhere rely on heresay to make their own credit decisions everyday.
While it isn't always a worthless process to check references, it needs to be done smartly:
1) Skip checking trade references unless you know the creditors to be reliable. If you've never heard of the company or can't verify their integrity, don't bother.
2) ALWAYS, ALWAYS, ALWAYS check bank references unless you can verify cash balances and credit line information through a public source.
3) If you do check reliable trade references, take their information in the context of their risk versus yours. If the reference comes from a big company and you're small, don't kid yourself that you'll be paid the same way. Larger companies generally have more power than small companies to get paid within terms.
4) NEVER simply rely on trade references to determine credit worthiness. Pull a D&B or Experian to see how your prospect pays ALL their creditors, not just the top three they handpick for you to call.
Companies that rely solely on trade references are only analyzing a small piece of a large puzzle. When companies default on payments based on an incomplete process, you'll then have a chance to realize which pieces you should've taken the time to put together.
Tuesday, June 17, 2008
Are You Suffering From Credit Insanity?
Einstein once said that the definition of insanity is doing the same thing over and over again and expecting different results. With the current credit meltdown and challenging economy, we're seeing companies sticking to the old "bill it and they will pay" along with the "check the references and if everyone else gives 'em credit, let's join the group!" These are fatally-flawed processes that companies haven't bothered to update. It was easy to have success in the past when most companies paid their bills; it's not so easy now.
WHY THE DIFFERENCE NOW?
The challenges in the economy aren't just the experiences of construction companies and retailers any more. The giant slowdown in the economy has trickled to most parts of the economy including manufacturers and distributors that may have been further removed from consumer cycles in the past. We can't keep thinking that managing our receivables the same way as we did last year or 5 years ago will get us through this storm.
WHAT CAN BE DONE TO CHANGE THE OUTCOME?
Some experts are already predicting massive credit defaults in the commercial markets just as the mortgage companies have experienced in the consumer markets. Much of the credit meltdown had to do with the fact that due diligence on the debtors was negligible. Who cares that a buyer making $50,000 was purchasing a $700,000 home they couldn't afford? Lenders and brokers were gathering their fees and selling off the mortgage so they didn't care about the risk; buyers of the debt were ill-informed about the risk they were purchasing.
In the world of trade credit, there's no excuse for ignoring what the customers can afford to buy from you--and only concentrating on what you want to sell them. Time and time again, companies are dumbfounded to find out they were major creditors to a company that was insolvent. Why did this happen? Because creditors ignored the signs that their customers were buying products and services without the ability to afford them. The only way to understand this is to change the strategy to ensure the outcome you want. Due diligence is critical to the process.
FALSE SENSE OF SECURITY
We're told by some creditors that they're "comfortable" with risk because they've insured their receivables. That's nice, but that's like watching the carpet in your office burn out of control and not worrying about putting it out because the building is insured. What about the deductible? What about the time it'll take to recreate all that was lost? What about when your insurance company stops insuring your building because they have too much risk with fires?
How do you do the deals that Sales wants and your credit insurance company won't cover? This is now happening in the credit insurance business right now. Insurance companies are taking hits and have stopped covering your customers that either won't provide financials or that have maxed out coverage with other vendors. Now what?
DUE DILIGENCE IS KEY
Companies need to stop relying on old, outdated practices like reference checking (thanks Uncle John for giving that vendor a great reference for me!) and "gut instincts" to give credit approvals. Real, solid due diligence is critical right now to understanding credit risk. Gather any and all information you can find on your customers, including the ownership risk. Use that information to make an intelligent, well-thought out decision that weights those pieces of information that will be the most predictive for future ability to pay vendors.
You can start now to create your own due diligence process to ensure minimum write-offs to your receivables. If you want an expert group to perform this task for you, let us know. Give us a call at 800-451-0164 to see how expert decisioning can help you stop the credit insanity.
WHY THE DIFFERENCE NOW?
The challenges in the economy aren't just the experiences of construction companies and retailers any more. The giant slowdown in the economy has trickled to most parts of the economy including manufacturers and distributors that may have been further removed from consumer cycles in the past. We can't keep thinking that managing our receivables the same way as we did last year or 5 years ago will get us through this storm.
WHAT CAN BE DONE TO CHANGE THE OUTCOME?
Some experts are already predicting massive credit defaults in the commercial markets just as the mortgage companies have experienced in the consumer markets. Much of the credit meltdown had to do with the fact that due diligence on the debtors was negligible. Who cares that a buyer making $50,000 was purchasing a $700,000 home they couldn't afford? Lenders and brokers were gathering their fees and selling off the mortgage so they didn't care about the risk; buyers of the debt were ill-informed about the risk they were purchasing.
In the world of trade credit, there's no excuse for ignoring what the customers can afford to buy from you--and only concentrating on what you want to sell them. Time and time again, companies are dumbfounded to find out they were major creditors to a company that was insolvent. Why did this happen? Because creditors ignored the signs that their customers were buying products and services without the ability to afford them. The only way to understand this is to change the strategy to ensure the outcome you want. Due diligence is critical to the process.
FALSE SENSE OF SECURITY
We're told by some creditors that they're "comfortable" with risk because they've insured their receivables. That's nice, but that's like watching the carpet in your office burn out of control and not worrying about putting it out because the building is insured. What about the deductible? What about the time it'll take to recreate all that was lost? What about when your insurance company stops insuring your building because they have too much risk with fires?
How do you do the deals that Sales wants and your credit insurance company won't cover? This is now happening in the credit insurance business right now. Insurance companies are taking hits and have stopped covering your customers that either won't provide financials or that have maxed out coverage with other vendors. Now what?
DUE DILIGENCE IS KEY
Companies need to stop relying on old, outdated practices like reference checking (thanks Uncle John for giving that vendor a great reference for me!) and "gut instincts" to give credit approvals. Real, solid due diligence is critical right now to understanding credit risk. Gather any and all information you can find on your customers, including the ownership risk. Use that information to make an intelligent, well-thought out decision that weights those pieces of information that will be the most predictive for future ability to pay vendors.
You can start now to create your own due diligence process to ensure minimum write-offs to your receivables. If you want an expert group to perform this task for you, let us know. Give us a call at 800-451-0164 to see how expert decisioning can help you stop the credit insanity.
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