Our Approach

• Mission
• Building Blocks
• The Cortera Platform
• Flexible Access
• Workflow

Quick Facts

• Company Profile
• Management Team
• Board of Directors
• Newsroom
  • What the Press is Saying
  • Cortera in the News
  • Cortera Press Releases
  • DEMOFall '09
  • FAQ
  • Logo Library
• Events
• Careers
• Address & Directions

about Cortera

Newsroom

Balance due – Difficult economic climate makes bill collecting trickier (Central Penn Business Journal)

April 13th, 2009

By Joel Berg, Central Penn Business Journal

The recession is slowing more than sales. It’s slowing companies’ ability to pay for what they’ve already bought.

As the economy contracted in the last quarter of last year, 1.1 percent of commercial receivables were more than 91 days past due, up from 1 percent in the year-ago period, according to the Credit Research Foundation, a Columbia, Md., nonprofit.

Cortera, a Florida-based commercial credit company, also tracked a slowdown in payments. Between January and December, the average number of days that bills were past due jumped 39 percent to 11.74 days, up from 8.42.

“We’ve seen a dramatic increase in the amount of activities required by collectors to bring cash in the door,” said Alex Cote, a spokesman for Cortera, formerly known as eCredit.com.

The challenge lies in knowing when to lean on valued customers and when to give them time to mend their finances, local executives said.

Read more in the Central Penn Business Journal.