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We don’t, however, want to minimize the importance of the credit side of the equation. As discussed in a recent post , gathering customer information doesn’t stop with the creditapplication. You put your firm at risk by limiting credit assessments to only new customers, which is too often the case.
After, the Great Recession of 2008, commercial bankruptcies peaked in 2009 and did not drop below pre-recession levels until 2012. There are products for processing new customer creditapplications, credit analysis, collections, and remittance processing to name a few. it just might help them pay you sooner!
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