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Post by account_disabled on Feb 24, 2024 3:34:47 GMT -5
This will encourage them to pay their bills faster. You can then invest this early cash to further increase your sales . On the other hand by penalizing customers for late or missed payment deadlines you can ensure that you get paid on time. However to do this you need a strong invoicing policy that clearly defines how much and when customers will be charged for late payments. Streamline the invoicing process With so many moving parts its normal for businesses to sometimes delay preparing and collecting invoices. However this extends your Daily Turnover Iran WhatsApp Number List Balance DSO. Automation may be your answer. Automating your invoicing process can help you generate and collect invoices. It also eases the payment process from the customers end as these einvoices have builtin payment buttons reducing friction.Speed up cash conversion times with better credit decisions on fulfillment. ![](https://zh-cn.dvleads.com/wp-content/uploads/2024/02/Anika-12-300x166.jpg) The delivery processing and invoicing. Carefully check the customers creditworthiness before granting credit. The time it takes to make a decision to make a loan decision directly adds days to your cash conversion period. Credit Decision For an existing customer whencurrent credit limit and expected business volume will be crucial. Using this data you can predict their credit needs in time thereby drastically reducing the cash conversion period and at the same time improving customer relations.
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