Receivables
Management
How many times have you heard your clients telling you that they will pay you in a week, in a few weeks or a couple of months after completion of the work? We bet that you hear it quite often. For some organizations, this waiting period can cost you more than the cost of the actual product. In spite of such situations, credit still needs to be provided as it is important to offer extra benefits to the customers which helps you capture the market and increase your sales. There are 3 major problems that you might face when you allow extension of the credit period-
- increased requirement of capital
- increased interest of capital
- increased chances of non-recovery
So, what do you do? We can help you with an effective receivables management plan that will allow you to recover your dues on time. Our plan involves –
Restructuring the invoicing system
We can advise you to align your invoicing systems in a way so that your cash flow is always healthy.
Periodic reconciliation of accounts
It is important to carry out a periodic bank account reconciliation so that your company’s cash records are right. We simplify the reconciliation process for you.
Redesigning the credit policy
Post evaluation of your credit policy, we might advise you on ways to redesign it to maximize your profits while also maintaining positive customer relationship.