6 Steps to Developing a World Class Business Credit Policy & Collections Action Plan
Accounts receivable is typically the largest or second largest asset for most businesses, yet most companies do nothing to improve their credit and collections processes. Business credit is tight – given tough economic conditions and political uncertainty – leaving many companies scrambling for working capital. Customers are taking longer to pay due to cash flow issues within their own organizations. In fact, the CRF report “On Whose Terms?” indicates that approximately 17% of business customers do not adhere to supplier credit terms.
This document outlines six easy steps to developing a world class credit policy and collections action plan to help you gain significant advantages in your business.