Most bad debts come from established customers; people you have been selling to for more than a year. Although all clients I am sure have good intentions to pay, it is crucial to manage your receivables consistently.
How to Eliminate Receivable Bad Debts
Most bad debts come from established customers; people you have been selling to for more than a year. Although all clients I am sure have good intentions to pay,
it is crucial to manage your receivables consistently.
The Receivable Issue
It does not matter the size of your organization, or the industry, the common challenge is “time”. Finding the time to manage receivables is crucial; lack of time is the main reason we have found to receivable bad debts.
Save Time & Money
Many companies claim they can save you time and money, but can they? We have found to correct the receivable debt issue is by looking outside your company. Outsourcing your accounts receivable portfolio is an excellent way to continuously monitor and manage your receivables, allowing you the time to spend on more pressing matters.
Lack of Cash Flow
Let’s face it, uncollectable receivables kills cash flow. It’s amazing how much margin we give away indirectly to wages and other costs with chasing old receivables and the strain it places on our cash flow. By getting paid faster, minimizing time chasing receivables we can focus on new business, truly a WIN-WIN solution for your business cash flow.
Receivable Management
Is lack of cash flow while you wait on receivables getting in the way of growing your business? Most bad debts come from accounts that you have sold for more than a year. As a result, continuous monitoring of your Accounts Receivable portfolio is very important and also a challenge. Outsourcing your accounts receivable portfolio is an excellent way to continuously monitor and manage your receivables. A Receivable Management service substantially shortens the number of days it takes for your clients to pay you.
Benefits include:
• improved cash flow and a healthier bottom line
• reduced short payments of invoices
• minimized bad debt and receivable interest expense
• friendly and experienced credit management experts on your team
• a credit management solution at a fraction of the cost of an in-house team
• access to extensive data to make good decisions about extending credit
• expert advice about credit risk and how much credit to extend to a client
Most bad debts come from accounts that you have sold for more than a year.
As a result, continuous monitoring of your Accounts Receivable portfolio is very important and also a challenge.
Outsourcing your accounts receivable portfolio is an excellent way to continuously monitor and manage your receivables.
