Are You Contributing To Your Company’s Bad Debt?

Man in a suit pointing his finger.For most service providers or suppliers, it seems impossible to get payment in advance. Without realizing it, our internal operations increase the likelihood of a customer failing to pay.

There are actions or inactions that can contribute to or be the direct cause of our bad debt. While the following illustration discusses a client in the trades, it is applicable to all businesses. Continue reading “Are You Contributing To Your Company’s Bad Debt?”

Read more...

Fear of Enforcing Your Rights to Payment Can Put You Out of Business

Sign that reads "going out of business."It’s hard to know when to stop doing business with a non-paying client and start enforcing your rights to payment. Failure to make the decision can put you out of business.

Smart credit policies protect you from doing business with those least likely to pay. And smart collection policy designs maximize recovery on receivables. But these policies are only effective if you use them. Continue reading “Fear of Enforcing Your Rights to Payment Can Put You Out of Business”

Read more...