When creating a collection strategy, the best place to start is creating a business credit application for customers. A business credit application helps you to decipher who is the biggest credit risk and who you can safely extend credit to without much worry. If you’re a company who works with other businesses and often extends
What is a Collection Strategy? Developing a collection strategy is one way to ensure that your accounts receivable stays under control and you continue to collect your cash. Without one, there is disorganization, disconnections, miscommunications and just simply chaos in the accounts receivable department.A collection strategy sets a standard for how accounts receivable collections will
Once you’ve identified that you do need debt collection software in order to collect your overdue accounts quickly, you need to then figure out which debt collection software is right for your business. There are many different options on the market and one solution may not be the best for everyone. Just like any item
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