Do you want to know that’s one of the biggest problems our clients are facing now?
It is the growing number of days for Accounts Receivable (AR).
AR Days are the days it takes to collect dollars or payments.
With the current economic uncertainty, people are holding onto their money longer and paying at the last minute or paying late.
What can you do?
👉 Make sure you understand what your average AR Days are today and are tracking it daily
👉 Look for outstanding payments are proactively start conversations on repayment
👉 Identify new incentives for paying on time or early
👉 Reevaluate your payment terms
👉 Make sure it is easy to pay you
Remember, some will look for ways to purposely not pay you. Make sure you understand your current AR situation and are proactively addressing it.
