Ledger Vigilance and Risk management
Max Cash while you Minimise Risk
Running a small business or managing a large business is a constant challenge with many demands on time and resources. In essence, Your business takes a risk each time it makes a credit sale, Importantly, A business that provides credit facilities to customers as a basis to generate sales must have an effective cash collection and credit management culture.
Your business needs money to grow. Obviously, over extending credit to customers puts the money in their bank not yours.
Getting the right balance between taking a credit risk and getting paid can in reality provide a significant advantage over competitors.