Invoice Communication Tips: Set Clear Payment Terms Fast
Clear communication of payment terms is essential for maintaining smooth business operations. When payment terms are unclear, it can lead to confusion, delayed payments, and even strained business relationships. By setting out clear, understandable payment terms from the outset, you ensure that both you and your clients are on the same page. This, in turn, […]
How to Build a B2B Debt Collection Policy That Delivers
Is your business struggling to collect payments from clients? A solid B2B collections policy can make all the difference in maintaining healthy cash flow and protecting your bottom line. With a structured approach, businesses can ensure that they receive payments on time, reduce overdue debts, and maintain smooth financial operations. Having a clear and well-defined […]
Long-Term Accounts Receivable Strategy for Steady Growth
Are you tired of chasing overdue payments? A strong accounts receivable (AR) strategy could be the key to improving cash flow and reducing headaches. Managing AR effectively is crucial for the financial health of any business. A well-structured AR strategy ensures timely payments, reducing the stress of overdue accounts and improving cash flow. A long-term […]
How Clients Cut Accounts Receivable by 60 Days or More
Did you know that most businesses struggle with delayed accounts receivable (AR)? On average, many companies experience an AR cycle of 90+ days, impacting their cash flow and operational efficiency. This delay can lead to financial strain, affecting growth and future opportunities. At Industry Recovery Solutions (IRS), we specialize in helping businesses reduce AR by […]
Top Metrics for Business to Business Financial Services Success
Running a business without tracking financial metrics is like driving with your eyes closed. For business-to-business (B2B) companies, where invoices are larger and payment cycles are longer, understanding your financial data isn’t optional—it’s essential. By tracking key performance indicators (KPIs), you gain the insights needed to manage cash flow, improve collections, and plan for growth. […]
Year-End AR Cleanup Checklist: Simple Steps to Tidy Up Your Books
The year’s almost over—how clean are your books? For many businesses, the end of the financial year is a race to tie up loose ends, especially when it comes to accounts receivable cleanup. Cleaning up AR (accounts receivable) means reviewing what’s owed to you, following up on payments, correcting errors, and ensuring your books are […]
Reducing DSO with Strategic AR Tactics: A Simple Guide to Faster Cash Flow
Days Sales Outstanding (DSO) measures how long it takes a business to collect payment after a sale. It might sound like just another metric—but it directly impacts your cash flow, growth potential, and financial stability. A high DSO means your business is waiting too long for payments, causing cash flow challenges and limiting your ability […]
Business vs. Consumer Debt Collection: Key Differences
Debt collection is a vital function for maintaining cash flow, whether you’re an individual trying to get back on track or a business chasing overdue invoices. It refers to the process of pursuing payments of debts owed by individuals or companies. Both consumer debt collection and business (B2B) debt collection serve the same end goal—recovery—but […]
FAQs About Hiring a Collection Agency
FAQs About Hiring a Debt Collection Agency Introduction Managing unpaid debts can be one of the most frustrating aspects of running a business. Whether you are dealing with late payments or challenging clients, the debt collection process can quickly become time-consuming and stressful. That’s where debt collection companies come in. By hiring professionals to handle […]
B2B Debt Collection Laws to Know
Debt collection is an inevitable part of business, especially for businesses that operate on credit terms. In the B2B (business-to-business) context, collecting debts from other businesses comes with its own set of complexities. Understanding B2B debt collection laws is essential to avoid legal pitfalls and ensure a smooth recovery process. The process of collecting unpaid […]