Turning receivables into cash is among the most important things a business must do. Of course, it’s easier said than done. Here are five ways to speed up collections:
For contractors, obtaining prompt payment upon completion can be difficult. Privately held construction companies in the United States waited 56 days for payment in 2013, according to financial analysts Sageworks. That’s more than 20% higher than all other private U.S. companies. This also marked a three-year high in 2013 — up from 54 days in 2012 and 52 days in 2011.
0 Comments Click here to read/write comments
Topics: Receivables, Construction, Uncategorized