From time to time, it’s good to step back and think about how properly managing credit in your home furnishings company can help drive greater results in the years to come. Let’s look at what a healthy credit department can mean for a home furnishings and accessories company over the long haul.Continue reading "FMCA Insights: How Sound Credit Practices Can Set Your Home Furnishings and Accessories Industry up for Long Term Success"
FMCA Insights | Debtors facing collections have several payment options available to resolve the open balance on their account.Continue reading "FMCA Insights: Pros and Cons of Various Payment Options for Furniture Credit Collection Companies"
There is ultimately one thing that motivates people in business to take action – money. That’s why it is important to consider implementing a credit incentive program.Continue reading "How to Encourage More Sales through Credit Incentive Programs"
One of the many measures used to counteract the effects of the COVID-19 pandemic has been direct economic stimulus payments to millions of Americans. While the amount received by each person or family depended on variables like income level and number of dependents, the vast majority of Americans received multiple payments during the pandemic.Continue reading "How the Recent Stimulus Will Affect Furniture Retailers"
When you offer credit to a customer, the last thing you want is to eventually turn that customer over to a collection agency. Unfortunately, collections are an inevitable part of the commercial credit game, and some of your accounts are going to reach this endpoint from time to time. Working with a good collection agency […]Continue reading "Customary Business Practices for Turning a Debt over to a Collection Agency"
As we move into 2021, it’s safe to say that no one has a good handle on the world’s economy. Sure, there are plenty of opinions, and you may have your theories, but 2020 taught us that we don’t know as much about the future as we previously believed. So, when it comes to risk […]Continue reading "Risk Management in 2021: How the World’s Volatility is Changing the Landscape"
Collecting on delinquent accounts is a challenge. For home furnishings suppliers, it’s important to build and maintain positive relationships with retail partners – and collecting on an account is only going to serve to strain that relationship. Unfortunately, there will reach a point with some of your accounts where collecting is the only option. In […]Continue reading "What Information Should You Gather on Delinquent Accounts Before Collecting?"
Traditional Collection Agency Vs. Member-Owned Collections What do Neimen Marcus, Stein Mart, and JCPenny all have in common? They each filed Chapter 11 bankruptcy this year (Neiman, luckily, emerged from it). As a credit manager, it is important to keep abreast of the latest trends in retail so you can make smart credit decisions. And […]Continue reading "Traditional Collection Agency Vs. Member-Owned Collections Services"