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There are as many variations of commercial credit reports as there are commercial credit bureaus. Depending on what type of creditor you are, you may even see variations of the same report on the same company whose credit you are checking. Early entrants into the commercial credit reporting industry were companies like Dun and Bradstreet…
Business process outsourcing, or BPO, is the delegation of specific business functions to an external service provider to manage and execute daily tasks. There are a variety of reasons to consider business process outsourcing for your business. The primary reasons most firms do so is to save money, and to focus on their core business.…
In the credit granting world, we commonly see two methods creditors use to make the business principal (owner) liable for their company’s debts. The most common amongst the North American creditors is the personal guarantee, whereas the joint/ several indemnifications are lesser-known. This article will discuss both options and summarize PCM’s preference, from our perspective,…
In the world of credit, there are two main reasons for non-payment. Either the debt in question is subject to a dispute due to communication problem or your customer is a collection problem. A professional debt recovery firm must be adept at negotiating in either scenario. Disputes between organizations can range from simple pricing errors…
Increasing cash flow with collection calls In this technology-driven world, automated text messages and email campaigns are commonplace when following up with slow-paying customers. Some forward-thinking companies have incorporated chat-bots for common questions while others employ artificial intelligence, directing customer inquiries to the right operator within the company. All these tools work up to…
The universal truth in negotiations is that everything you want in life is owned or controlled by someone else, so we are negotiating all the time. The other maxim is that most North Americans can’t stand haggling over terms. Examining these two statements, one can immediately see a disconnect. Unless you set out to learn…
As the old saying goes, “nice guys finish last”; however, when it comes to cash flow, sometimes being the nice guy means you go out of business and never get to accomplish the dream of building your own profitable business and retiring comfortably. Acquiring customers is hard work, and deciding to extend terms to pay…
Is it time to consider a third-party debt collection agency? Is recovering overdue bad debt straining your ability to focus on important accounts, complete projects, or succeed with your own career goals? Whether you work in manufacturing, real estate, the non-profit sector or any other industry, you are likely to have encountered an issue with…
PCM has been a licensed Ontario collection agency for over a decade. Ontario creditors are happy with our services, and consequently, our market share in Ontario continues to grow. As PCM’s market penetration grows, so too does our need to expand our Client Service options; therefore, on October 1st, 2019, PCM opened our Brampton, Ontario…
The services provided by Canadian collection agencies are governed by the laws of the province in which your debtor resides. If your customer is a business, most provincial jurisdictions do not require a collection agency to be licensed; however, if your customer is a person then many Consumer Protection legislations come into play. Each province…