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Why Credit & Collections Are Crucial to Business Success

 
  Arthur F. Rothberg, Managing Director, CFO Edge, LLC  
   
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  Article Summary  
It has been said that companies are more likely to fail from neglected credit and collections processes than from slowing sales.

This reinforces the critical importance of establishing and maintaining best-practice policies and procedures for credit and collections.

A first step is writing a customer-facing credit policy that is grounded in needed cash levels and includes a formal application, maximum credit, terms, past-due steps and credit checks.

Illustrated in this article are examples of terms along with considerations for and features of collections for delayed payment.

An on-demand CFO services professional applies enterprise-grade chief financial officer expertise to help in reviewing current credit and collections processes, as well as identifying and implementing enhanced ones.

  Open as PDF Open the entire article as a downloadable PDF (No form completion is requested.)  
     
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