Accounts Receivable Strategies: How To Reduce The Cost of Credit

Extending credit to customers is risky and it can be costly; but it is also a part of doing business in today’s world. Just because is it common though, does not mean you should take it at fave value, it is extremely important to fully understand the cost of extending credit and the consequences of doing so. From there, take the necessary steps to reduce the overall expense of extending credit and work to better manage the entire process, therefore reducing the risk and cost while developing long-term, positive relationships with customers. So, when you extend credit to customers, keep the following in mind. Continue reading