Combating slow payment (and nonpayment) in the construction industry
from By Nate Budde
Most of the time, invoices get paid. In the vast majority of cases, invoices are paid well before they age enough to cause a significant worry. Despite this, however, there is an entire industry of credit and financial managers who are dedicated to helping companies manage, and ultimately collect, those problem invoices. Typically, these parties are focused on two distinct areas of concern with respect to credit management: getting invoices paid faster and reducing the number of invoices that are written off as uncollectable.
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