Article: Increase In-House Collections
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Increase In-House Collections
When you provide a consumer service or product, you have the legal and moral right to be paid within contractual terms. Consumer accounts not paid within your payment terms can restrict your cash flow, business growth and in some situations, the ability to continue operating your business.
The following consumer collections report outlines 11 guidelines you can follow to increase the amount of in-house consumer collections your business collects.
1] Have a Defined Credit and Consumer Collections Policy
One of the major causes of overdue receivables is that a business has not defined to its consumer customers and staff when accounts are to be paid. If consumer customers are not educated that accounts are to be paid on time, then chances are they'...
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