Offering Credit Can Increase Revenues
Let our credit professionals at PCM Corp show you the benefits of using our credit application processing services including:
- Creating a custom branded credit application form specific to your business and industry.
- Performing client credit checks on your behalf.
- Helping your business with cross-border credit applications (and collections).
Many business owners and finance professionals know that extending repayment terms to customers is a great way to get more sales. Credit sales can make up a large percentage of your overall sales, so it makes sense that your credit application form is up to date with the latest terms and conditions to protect your business.
Credit application forms can be industry-specific. For example, repayment terms for most businesses are net 30, whereas wholesale food companies are net 7. Dry goods are not perishable so, the length of time to repay can be longer than seven days.
For Credit Applicaion Processing Services
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Custom Credit Application Form
It is vital to have a proper credit application form and ensure that your customers complete the credit applications in full. If certain sections on the form are left blank, it prevents you from getting a clear picture of your customers’ credit history. It could also possibly prevent you from being able to collect using the court system if your customers are delinquent.
Priority Credit Management Corp (PCM Corp) has been assisting businesses in developing custom credit application forms since 2005.
Our PCM Corp credit application processing services will work with you to come up with a document that covers all the salient points for your business and industry. That includes branding the credit application form with your company logo and contact details.
We also include verbiage that allows either your firm or ours to perform the credit checks and bank checks, should you wish to outsource credit application approvals to our company.
After 35+ years in the commercial debt recovery industry, we know which terms and conditions work and those that do not.
Cross-Border Credit Application Processing
Unfortunately, of all the credit applications we are given when asked to collect money, 95% percent are unenforceable.
The issue with having your corporate lawyer draft your credit application form is that they only practice in one province, whereas PCM works across North America. Along with cross-border credit applications we can also help with collections.
If your customers are only located in the same jurisdiction as your lawyer, then you are probably fine. Otherwise, you should contact our office for a complete consultation.
This blog article offers additional information on Collecting Across the Border.
What Is Included
Should you decide to engage our credit application processing services to redesign your credit application form, you will receive the following:
- A thorough interview to ensure we understand your market.
- Addition of specific terms and conditions based on your industry.
- Creating a reusable and customizable credit application template.
- One page credit application, including a signature section to eliminate ambiguity should it become necessary to rely upon the document in court.
- Full branding of your company logo, colors, and contact details.
- Addition of specific data fields that, when filled in, make credit searches much easier.
- Both a PDF and Word version of the credit application form.
We will also include wording that will give PCM Corp authority to perform credit checks on your behalf. You may never need us to do so, but if your credit professional is unable to work, we’ll have you covered.
Reach out to our PCM Corp credit professionals if you are interested in our credit application processing services.
About PCM Corp
We help businesses and creditors by providing the tools and support they need to responsibly manage receivables and improve cash flow. We can help ensure the ongoing health of credit application processing.