B2B businesses are especially vulnerable to bad debts as transactions often involve extending credit to customers. Here are a few tips that can help you minimise and manage the risks associated with them.
B2B businesses face several challenges when collecting outstanding payments from delinquent customers. Developing a well-structured process, leveraging digitization, and upgrading your teams’ resources and capabilities can maximize recoveries and prevent bad debts. With an increased focus on debt management, companies can reduce high costs and lost income and enhance customer focus, customer engagement, resilience, and profits.
Business has never felt riskier. The economic uncertainty delivered by COVID-19 has put question marks over everything business owners once took for granted: happy customers, regular sales, plans for growth. Now, every business needs to safeguard the very foundation of its existence: cash flow. ezyCollect is proud to announce its latest product, Credit Insights—your daily […]