As noted in a previous blog outlining the consequences of invoice disputes, we noted that businesses write- off roughly 4% of credit sales annually. For a $10 million company, that means $400,000 each year! If that same company was able to reduce bad debt write-offs by 20% That would equate to $80,000 in annual savings which could then be used in many different ways to grow your company or enhance your company culture.
What would you do with all of that additional cash? Below are a few suggestions, but it’s your money so spend it however you wish! Continue reading