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How to effectively handle accounts receivable in your business.
How to effectively handle accounts receivable in your business.
Here are some tips for collecting accounts receivables (AR):
- Use customer data effectively
- Be Flexible in your payment Terms
- Send invoice immediately
- Send reminders well before the due date
- Manage credit risk
- Offer a good customer experience
Key strategies in debt recovery
Key strategies in debt recovery
Here are some tips from seasoned lenders to help you save the day:
Send Formal Letters based on "Days Past Due"
Seek help from Team Apkamoney to act as mediators
Send legal response
critical points businesses must consider to reduce risk
critical points businesses must consider to reduce risk
Few critical points that businesses must consider to reduce the risk
Analysis of the financial health of a customer
Thin Profile
Market Review
Ways to simplify debt recovery
Ways to simplify debt recovery
Use these suggestions to create a more customer-focused and efficient debt collection process.
- Send Real-Time Account Updates
- Allow your customers to tell you how they prefer to be contacted.
- For follow-up, use scheduled payment reminders.
Outsource Debt recovery and collection
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