Nexstar Media said it has closed a new five-year term loan A facility in an aggregate principal amount of $2,425 million and a new five-year revolving credit facility in an […]
When Tech Fails Your Credit Check
Advances in credit-checking technology have made the task far less painful than it has ever been. But when technology fails — as we have all seen it do — relying on a single source of credit checking can be risky business. Fortunately, there are some other resources, including some old-school tactics, that you’ll want to add to your toolkit to complement your current practices, and can offer a safety net if your credit vendor’s technology falls through.
Mary Collins | The Brave New World (Of Credit And Collections)
COVID-19 knocked nearly the entire media industry for a loop. How do credit and collection teams cut clients a break, but still collect what’s due their companies?
Collins | Confronting Credit Conundrums In A COVID World
The pandemic, coupled with racial and civil unrest, has devastated businesses and affected their advertising spend. When it comes to extending credit to, and collecting from, advertisers affected by this volatility, consider “thoughtfulness and creativity.”
In a filing Monday with the SEC, Disney said that it had signed a new 364-day revolving credit agreement with Citibank that would provide access to as much as $5 billion. The agreement, which matures on April 9, 2021, can be extended for an additional year with the lenders’ consent.
Exclusives
Collins | Managing Customers During Times Of Change
It is imperative that you evaluate your customers’ credit risk on an annual basis, by reviewing the volume and frequency of their business and payment history. Creditworthiness is the foundation of the client relationship, and that understanding your client’s creditworthiness is imperative. Evaluations must include both advertisers and the agencies.
BCCA, the media industry’s credit association, has announced the agenda and presenters salted for the BCCA Media Credit Seminar, which will be held on Tuesday, Nov. 7, at the New […]
Tighten Up Your Credit/Collection Practices
It seems to be that, outside of an organization’s credit team, no one pays much attention to credit and collection until the economy turns for the worse or there’s a high-profile default. The rest of the time, it’s out of sight, out of mind. Here are seven recommendations on how to remedy that.
How Digital Sales Affect Credit, Collections
In addition to the new demands it places on ad sales teams, selling digital media also requires rethinking the roles by credit and collections departments during the sales process. Tony Pernice, a campaign specialist at Scripps Networks Interactive, explains the company’s comprehensive process for managing digital campaigns.
Time to Reassess Your Credit Policies
With ad revenue likely to climb next year thanks to the Olympics and political spending, it’s a good time to re-examine your credit policies to ensure they are optimized to support your objectives, including maximizing sales, minimizing bad debt and minimizing costs associated with credit investigation, billing and internal collection activities.
Customer Service Key To Credit, Collections
Measures such as streamlining and automating much of the credit application process and involving ad sales in ongoing monitoring of their clients’ risk profile have reduced the time required to provide credit approvals and created a transparent and consistent credit and collections process.
