It is imperative to manage your debtors, especially when you’re busy growing your business.
This ensures you have adequate working capital throughout the business’ growth.
Debtor management is a systematic approach to debt recovery. It involves keeping track of the debtor’s progress through a series of steps.
Debtor management is a method of dealing with debt collection. It is often used when dealing with large amounts of debt or cases where the debtor is having financial difficulty.
Understand your credit policies and terms of trade
Informal arrangements are often used to supply goods and services by businesses.
The consequence of this is that disputes are more apt to arise than if there were clear, written terms of trade from the beginning.
Continue reading Six Simple and Easy Steps to Better Debtor Management at Skint Dad.