Four Ways to Implement Tighter Controls on New Customers

Are you finding it challenging to get new customers to pay on-time?

To protect yourself, you may choose to adopt some of the following controls:

1. Put the customer on a short leash, such as a 15-day watch list, so you detect a slowdown in payments almost immediately.
2. Be ready to turn off the credit faucet: no credit if no payment.
3. Hold up further deliveries of your goods or services until the customer pays his late invoices.
4. Get additional assurance of payment, such as liens, guarantees, and promissory notes.

Learn more in our latest article.

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