Credit professionals need a framework to think through their company's needs.
New Orleans, LA (PRWEB) June 27, 2013
Getting paid in the construction industry is a challenge, and every company must constantly improve their financial and credit policies to survive. Unfortunately, there’s so few resources available to assist credit professionals, and even fewer to help those facing payment and billing challenges unique to the construction industry.
Scott Wolfe, a leading expert in construction credit management for subcontracting and supply organizations explains, “We’re talking about a very technical industry with tons of legal nuances, and those who are charged with managing credit and collections have few places to turn for help.”
Wolfe asks credit professionals to ask themselves whether their credit departments are truly prepared?
- Does your credit department have a formal credit policy, collections policy, lien policy and litigation policy that meets the needs of your company and actually works for every situation?
- When your company is offered the ability to enter into a joint check agreement, do you rely on others for the forms or do you have a standard form or acceptable standard language?
- Is your credit application well thought out, or something slapped together through years and years of legal hijacks?
“Credit professionals should think through their company’s credit needs, but they need a framework to do this. Something that explains why each of these items are important and gives example templates and forms for the company to customize,” says Wolfe.
The “Credit Department In A Box,” published by zlien, is a comprehensive guidebook to credit management in construction. It’s everything a company needs to start a credit department from scratch, or to improve an existing department, including templates, forms, contracts, policies, and more. You can download a free copy of the Credit Department in A Box through zlien.
About: Scott Wolfe is the founder and CEO of zlien, and an author of the Lien Blog. He is a licensed attorney and trusted authority on construction credit management topics with a specific expertise on mechanics liens, bond claims and security interests. He has been recognized as an Innovator of the Year for the zlien platform and a “Leader in Law.”
Zlien provides software and services to help building supply and construction companies reduce its credit risk and default receivables through the management of mechanics lien and bond claim compliance. Founded by experienced construction attorneys, Zlien is the leading publisher of mechanics lien and bond claim resources and analysis, and has led the industry in innovating credit risk management solutions by utilizing the lien and bond claim laws. Learn more about zlien at http://www.zlien.com