Manage Receivables For Better Profitability
If you want to be successful in business, your customers have to pay you on time. If you're like most businesses, you sell products on a credit basis, and then ask your customer to pay you later, such as within 30 days. During this time, you essentially lend money to the customer, and expect that you are going to be paid back. Only when the invoice is paid do you have the money you need to successfully run your business.