How to Effectively Tame Company Receivables
One of the greatest risks for small and medium businesses is certainly past due receivables. Preventing this risk or promptly responding to problems with receivables is the main focus of this lesson. You will get many useful tips on how to keep your receivables under control and not take chances with the survival of your business.
Table of contents:
- Wipe receivables off your books
- Use your competitive advantage
- Request advance payments
- Offer your customers benefits and bonuses
- Put retention of ownership in your contracts
- Focus in particular on prevention
- Thoroughly check the creditworthiness of your customers
- Try to settle with debtors out of court
- Hire an attorney or collection agency
CLOSING ADVICE: How to collect foreign receivables.