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How to write a letter of demand (Template Included)

August 2, 2021Invoicing , Late Payments

A powerful addition to your collections toolkit is having a demand letter. This comes into play when you have tried everything to receive a payment from your customer/s. A letter of demand, also known as a dunning letter or debt collection letter, helps your B2B customers know that there are consequences for paying you late. …

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5 Steps To Help SMEs Manage Credit Risk

July 26, 2021Cash Flow , Late Payments

In industries, such as wholesale and distribution, credit is seen as a necessity when doing business. Credit offers you a way to sell more to your customers and grow faster. However, sending out goods before receiving payment has it’s risks. It leaves you open to late payments, and in some cases, no payment at all. …

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invoice reminder on a computer screen.

The Template to Get Paid Faster: Invoice Reminders

May 6, 2021Late Payments

The template to get paid faster: invoice reminders If your overdue invoices are building up, no doubt you have looked at ways of automating the process using some type of reminder process. This most likely has been out of your accounting software; however you may not have turned them on as they don’t provide the …

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Man reviewing his credit applications on paper.

Do Credit Agreements Mean Anything?

March 22, 2021Late Payments

Do credit agreements mean anything? Does the following sound like you? Your credit agreements have evolved over time from a word doc to a PDF that needs to be printed off, filled in, signed and scanned back. Your customers are still printing, filling-in, signing, scanning and sending back incomplete credit apps. Missing information is just …

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Paperwork showing a high credit score of 890.

Most Business Owners Fail To Check Their Credit Health

November 27, 2019Late Payments

How to maintain a healthy credit score For business owners who are looking to obtain a loan for their small businesses, checking your business credit score is a critical step in this process. Here is why. When you apply for a business loan, the lenders take a number of different factors into consideration, this most …

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A man holding cash in his hand.

Client Not Paying Your Invoice? Here’s What To Do.

October 21, 2019Late Payments

If Your Client Is Not Paying You, Here’s What To Do Collecting payment on a job/project you have worked on can be a difficult task at times. However, most of the time these delays happen because of simple misunderstandings and poor communication. A quick phone call can clear these things up. Although sometimes a phone …

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