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Evaluate and improve your credit terms Begin by assessing your current credit terms and ensure they are reasonable and aligned with industry standards. Consider shortening the credit period, tightening credit limits, or implementing stricter credit approval processes. Struggling for time?
Effective credit control is crucial for maintaining a healthy cashflow and financial stability. By implementing a well-structured credit control process, businesses can mitigate the risks associated with late payments and baddebts, ensuring a steady stream of revenue.
If your business is scaling and expanding into new geographic regions, it may present challenges in collecting receivables. This should include debit and credit cards, local bank transfer, ACH/echeck, wire transfer and electronicfundstransfer. Enable multiple payment methods. Optimized performance.
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