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Business strategy
How to optimise business debt management
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[QUOTE="Augusta, post: 343807, member: 25283"] Business running comes with having people buying on credit. But the most is trying to retrieve your money from debtors in the most efficient ways. There are several ways to improve your debt collection process. So you need to use the best methods to optimise the process. You can start with the use of automatic credit control tools like Debtor Daddy which will aid you receive detailed reports on outstanding payments. You can even send automatic chasers to your clients to remind them. Another good way is to use invoice factoring. This is a type of invoice finance where you sell your outstanding invoices to third parties. Doing this will help you have your cash to stabilise revenue and boost cash flow, [/QUOTE]
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