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9 Ways to Boost The Turnover from Account Receivable – Infographic
On an average a $50M worth company experience nearly $750k bad debts every year in the US. This stat is adequate to make you realize that your account receivable is costing extra and becoming a burden on your team.
Many times, companies’ go for bank loans because of high DSO and aged receivable. A recent survey shows that average payment term is 27 days, which can be extended up to 35-38 days. This directly affects your cash flow and becomes the key challenge for the business profitability.
Strategizing your companies’ policies regarding credit or recovery of credit can lead towards positive accounts receivable. Because, before you make any sale on credit, you have an opportunity to ensure that you will receive the payment on time.
Here in this infographic, learn 9 ways that can boost up your account receivable turnover.
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