The Bessenbacher Co. provides a wide range of commercial credit services to our clients. These services include:
- Building a credit foundation based on best practices
- Encouraging sound credit decisions
- Recovering past due accounts
BUILDING A CREDIT FOUNDATION
The Bessenbacher Co. can work with you to create the right credit policies for your business. From credit applications to oversight strategies to legal options, our staff can create a foundation that will allow your company to improve its operating profitability. We can also work with your credit personnel through educational programs to ensure that they are armed with the appropriate knowledge to do their jobs.
MAKING SOUND CREDIT DECISIONS
The Bessenbacher Co. has certified professionals who administer and lead credit groups specifically for your industry. Industry Credit Groups have been around for more than one hundred years and are as important today as they ever have been. The purpose of these groups is to establish a forum allowing credit managers within the same industry to exchange factual credit information regarding the payment practices of an account. Industry Credit Groups are an effective management tool not only for the information that is exchanged but also for the information shared regarding new credit management ideas, as well as develop business relationships within your industry. Educational seminars often are part of a planned meeting.
We also understand our clients need to have updated and complete information, so we have developed an innovative online, secure reporting engine called InetCreditExchange that will allow you to get the updated credit information you need. This is a subscription-based service tied to specific industry credit groups. To learn more, contact us at info@bessenbacher.com.
In addition to industry credit groups, consumer and commercial credit reports from industry leaders like Experian, Equifax, and Transunion can be a helpful tool in making credit decisions. Let us know if we can help you purchase credit reports on your clients through our partnership with OneCreditSource. OneCreditSource.com has a unique agreement with the national credit bureaus that grants our clients the ability to receive both commercial and consumer credit products via the Internet.
RECOVERING PAST DUE ACCOUNTS
No matter how solid the credit foundation is within a company or how good the credit decision-makers are, past due accounts are a fact of doing business. Accounts Receivable represents one of the largest assets of any business. Let us assist you in the recovery of those assets through both first and third party collection services.
To attack receivables early in the aging cycle and relieve pressure from the credit department, we have several first party service offerings available. Our first party services are flexible to meet your needs so you can design a program you are comfortable with. This could include a set of letters or phone calls executed by The Bessenbacher Co. on behalf of your company. These can be manually reviewed or set up to automatically kick in at different aging levels. By spending a small fee per account early in the cycle, you can save huge sums of money later in write-offs of bad debt and third party collection costs.
For significantly past due accounts, The Bessenbacher Co. can offer you a third party service that includes a 10-day free demand period and a high level of personal service. In the event that legal action is required, we will see the account through the process, as well as access to an extensive network of attorneys across the country with whom we have experience doing business.
