6 Basic Strategies to Ensure Debt Collection Success

sixCollecting money that is owed to your organization can be difficult and cause frustration if you’re not familiar with strategies that get results.

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Your Credit-Collection Solutions

credit analystAccounts receivable departments are very busy places. There is always something going on from processing credit applications, to dealing with sales inquiries, handling payments, and making collection calls. Finding times for collection calls could be hard with everything else this department is dealing with.

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Tips for Preventing Delinquent Accounts

debt tardinessNobody likes tardiness, especially when referring to a customer’s outstanding debts. Yes, there are ways to help speed up the process of collecting these debts, but the number one priority should be to avoid bad debts altogether.

Here are a few tips to help prevent delinquent accounts from ever occurring:

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Tips to Increase Your Company Cash Flow

cash flow 101Cash flow can be more important than all other aspects that go into a company. Without cash flow a business dies. A business can boost its cash flow by identifying and evaluating  its current assets and current liabilities. If you have a business with significant inventory, that might be a good place to start.  There can be significant dollars tied up in inventory that could better be used elsewhere.

Here are some tips we recommend using to improve cash flow for your business. Continue reading

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How Soon is Too Soon When Dealing with Outstanding Debts

too soonDelinquent accounts can always cause a problem with an individual or company. If a customer owes your business, it’s probably safe to assume you want payment for those debts as fast as possible.  It’s not out of the ordinary for a company to have a grace period but what happens once that period is over and it is time to collect and move on?

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