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Why Credit Management Is
Important For Businesses
o By working with them, you will be able to access the credit history of a
specific person. This can mean anything from outstanding balances,
credit card usage, mortgages payment, any unpaid fines or fees, and
more. This is roughly how a credit score is calculated. Obviously, at the
end of the check you will receive a report that will help weigh in the pros
and the cons and help you make an informed decision.
• Put a deposit program in place and insure your
deliverables
o Last but not least, nothing in life is 100% sure, so you might not want to put
all your eggs in one basket. Asking for a deposit – an amount that is not
overwhelming that it scares customers away, but something decent
enough to give you a confidence boost, is utterly important. Should
anything go wrong, at least you have a safety net to fall on. Similarly,
insurance policies should be an integral part of the credit management
process.