There are several steps you can take to become more cost effective in cash flow management. One of the easiest—and sometimes most overlooked—is to know your customer, and to update their information continually. Many customers who are behind on their account habitually make promises and guarantee dates and times for payment, but regularly fail to deliver on their promises and guarantees.
To help prevent what is commonly referred to as fraud by the customer, take the following steps to know your customer: [Read more…]