Search results for: “collection policy”
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Collections: Why A Company Needs A Collection Policy
In every industry there is a need for collections. Most companies that I see from day-to-day are completely reactive in the collections approach. This is the company who waits to not be paid, then tries to do something about it last minute. This tactic is not a smart one to live by. Be Proactive Regarding…
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Credit Management: Collections Policy Overview
[quote style=”boxed” float=”left”][A Collections Policy] should be written down, and consistently applied. [/quote] At some point, a customer to whom credit has been extended will not pay on time. With all of the security and other policies and procedures in place to get you paid, the penultimate step is to have a collections policy. There…
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Collections Policy: How Other Security Can Help Collections Policy
I find myself writing about policy a lot on Construction Payment Blog. Today’s discussion is about collections policy. Collections policy is the last moving part when it comes to credit policy. Overview of Collections Policy If all goes as planned then there will never be a need to implement a collections policy because your…
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Collection Tips for Construction Industry Managers and Business Owners
Many, if not most, of the construction payment issues and delays that arise can be directly attributed to the circumstances created by the project payment chain. Read on to learn a little bit about why customers don’t pay and to learn some collections tips specific to the construction industry.
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Collections Best Practices for Office Managers in Construction (Tips and Tricks)
While it may not be the most fun part of the job, making sure you get paid is arguably the most important. Because of this, construction office managers should take care to understand collections best practices, recommended actions to take both proactively as well as when a payment becomes past due, to make sure you get…