Five steps to streamline debtor management
Inefficient debtor management can hurt your business by causing irregular cash flow, increased bad debt and strained relationships. CreditorWatch has compiled a list of steps to improve your debtor management:
1. Reduce manual tasks: Minimising manual tasks will save you time and can reduce the room for human error.
2. Centralise your systems: Controlling your accounts in one central location allows you to quickly assess the state of your accounts and pursue payment where necessary.