Commercial Collections Blog

1. Join trade reports, newsletters, and web sites for industry updates
2. Implement a strong Credit Application
3. Create a risk screening process prior to credit initiation, with credit limits
4. Track order and payment history
5. Institute timely notice of past due accounts
6. Know the steps to be initiated when account is past due
7. Set trigger points for past due letter and phone notification
8. Know when to use outside collection agency, time is money
9. Hold future orders and use prepayment until payment is finalized

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