Borrowers often pledge receivables as loan collateral. But recent studies show that many companies are collecting receivables slower than they did before the Great Recession. When you review a borrower’s year-end financial statements, ask whether management has taken these five simple steps to turn receivables into cash faster. Tighter collection procedures can expedite service debt and reduce working capital needs and bad debt write-offs.
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Topics: Billing Process, Collections, Commercial Lenders, Uncategorized