Tag: late payment
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How to Evaluate Customer Creditworthiness Before Extending Credit
Extending credit to customers can be a great way to foster long-term business relationships and drive sales. However, failing to assess a customer’s creditworthiness properly can lead to late payments, bad debt, and cash flow issues. Evaluating creditworthiness before extending credit is essential to minimizing financial risk while maintaining customer satisfaction. Understanding the Importance of…
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How to Reduce Payment Delays: Strategies for Better Accounts Receivable Management
Late payments can disrupt your business operations, strain cash flow, and hinder growth. While occasional delays are inevitable, they don’t have to be a constant challenge. Effective accounts receivable (AR) management is about creating processes that encourage timely payments while maintaining strong client relationships. By combining clear communication, strategic planning, and smart use of technology,…
Credit Control Club 