How to Manage Your Business’s Debtors

Managing your business’s debtors involves implementing clear credit policies, including thorough credit checks and establishing payment terms to minimize the risk of late or unpaid invoices. Regularly monitor accounts receivable and follow up promptly on overdue payments through polite yet firm communication channels, such as phone calls or emails. Utilize efficient invoicing and payment tracking systems to streamline the collection process and maintain healthy cash flow.

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