Cash is king as they say. Yet, some businesses don’t have an effective cash collection process in place to make sure that their clients pay them on time. It’s very easy for businesses to become relaxed after the sales agreement is signed.
However, when they aren’t collecting cash for goods or services rendered on time, they are essentially extending credit to their customers. Find out how to get paid quickly.
Improve cash collection
All business must have a process in place in which their customers know the payment terms upfront and the policies that must be followed. Any cash collection process with lenient terms is a recipe for disaster. (more…)