Newsletters and Publications

A Signed Credit Application Really Helps Us Help You - 06/14/2017

Hi Everyone, It’s Hector the Collector here, and as always, it’s a pleasure to work with you. Just a quick thought that I'd like to run past you. If you could, please kindly include the Customer Credit Application when sending over the claim. As we read over it, sometimes we’re able to see another email address, another contact name, cell phone number, or other important life line that will help us to help you in getting that claim collected....Read More

Category: Newsletters and Publications |




The Real Meaning of Being Your Trusted Outsourcing Partner! - 06/14/2017

What’s the meaning of being a trusted outsourcing partner who can confidently fulfill a range of a client's needs?
Every new business relationship is usually met with a dose of skepticism, since the supplier and customer each have their concerns about fulfilling their respective obligations. But as time goes by and the needs of each are duly satisfied, a level of compatibility and trust take root and the seeds of a long term relationship are planted...Read More

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Trying to light a fire under a burned out collector! - 05/16/2017

Dear Crabby,

I’ve been having a problem at my company over the past couple of years trying to keep our collection people from getting bored and burned out in their jobs. Our company sells a magazine on credit and most customers who fill out the order form from the magazine owe less than $100.00 for a one year subscription Now, your first impulse might be to suggest that we should require all of these customers to pay by credit card in advance...Read More

Category: Newsletters and Publications |




When Sales Professionals Can Get Into The Mind Of Credit - 05/16/2017

By Nancy Seiverd

Back in February after I published my article, "When Credit Managers Understand the Mind of Sales," I received several requests from credit managers around the world for an article supporting their perspective. As I mentioned last time, when sales and credit professionals walk in each others’ shoes, they soon learn to appreciate the challenges that each faces. As a collection professional myself who has interacted with literally thousands of other credit professionals over the decades,...Read More

Category: Newsletters and Publications |




Need to know the truth! - 04/07/2017

Dear Crabby, I'm at my wits end. I have a customer who has gone through good and bad times over the years (decades) and our president continues to do business with him no matter how bad the bad times get. My problem is that one of those bad times has produced one weird excuse after another. First the invoice was not received even though it goes out by email and regular mail. Then their computer system was on the blink and they could not issue checks until it was repaired, which was two months ago. Now the other day when I called, I was told the owner of the company is in the hospital...Read More

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If DSO doesn't mean Days Sales Outstanding, then what does it mean? - 04/07/2017

By Nancy Seiverd

As credit and collection professionals, we’re always under pressure from upper management to get the DSO down. Many years ago when I was just getting started, I remember learning that DSO is often determined on a monthly, quarterly or annual basis. Not to bore you but if I recall correctly, DSO can be calculated by dividing the amount of accounts receivable during a given period by the total value of credit sales during the same period, and then multiplying that result by the number of days in the period measured...Read More

Category: Newsletters and Publications |




The CMI Spirit - Guy Lang - 04/07/2017

Dear Crabby, This is embarrassing but I completely messed up on a collection call. Here’s what happened. I had been calling one of our regularly delinquent, but long term, customers for the past three months and dealing with several broken promises. Then last week when I called again, I was so frustrated before the call that even though the customer said we could send one of our people over to pick up the check, I suddenly got angry and warned him “not to play any games” with us...Read More

Category: Newsletters and Publications |




When Credit Managers Understand the Mind of Sales - 02/22/2017

It’s been said over and over that credit professionals should walk in the shoes of sales professionals and vice versa. Why is that so important? It’s because by experiencing each other’s challenges and frustrations, there will be a better understanding of what it takes to work together more effectively...Read More

Category: Newsletters and Publications |




I Completely Messed up on a Collection Call - 02/22/2017

Dear Crabby, This is embarrassing but I completely messed up on a collection call. Here’s what happened. I had been calling one of our regularly delinquent, but long term, customers for the past three months and dealing with several broken promises. Then last week when I called again, I was so frustrated before the call that even though the customer said we could send one of our people over to pick up the check, I suddenly got angry and warned him “not to play any games” with us....Read More

Category: Newsletters and Publications |