Why so many invoices get paid twice — and how to stop it from happening to you
April 10, 2013 by Jim Giuliano
When it comes to evaluating customers for credit, it may be time for some new approaches.
When deployed correctly, payment plans can allow you to get past-due invoices paid while bringing in new orders – and helping the customer’s cash flow stay intact.
How confident are you that your A/P people would recognize the signs of a bogus invoice from a phony, or “shell,” company?
Another day, another part of Obamacare your company must prepare to comply with. The latest: the affordability test.
Ernst & Young and the FBI analyzed data from corporate investigations to discover that certain key words recur in emails between co-workers when something fishy’s afoot.
There’s no magic wand to turn all your business travelers into T&E policy-compliant employees, but this may be the next best thing.
For years it was the go-to treasury tool that kept companies maximizing the cash they had in the bank: sweep accounts. But now that Dodd-Frank has repealed the ban on interest on business checking accounts, many of your peers (and bankers) have decided a sweep is no longer necessary. Not so fast.
It’s never been more important that your company gets every cent owed by every customer — without being so heavy-handed that you chase customers away.
Now that it’s legal to pass credit card surcharges on to your customers, your company may have a big decision to make:
What if the people driving up your company’s healthcare costs the most weren’t the insurance companies or politicians, but folks a lot closer to home?
If your people in Finance or Collections tend to put off contacting customers who are late pays, this information may remove the reluctance.
Today’s steady supplier could become tomorrow’s problem, unless you include these stipulations in your supplier agreements.
The fiscal cliff fiasco may be behind us (for a while at least), but the real work for your Finance people has just begun.
Used to be, purchasing cards (p-cards) were reserved for small dollar transactions – a way to avoid cutting checks for tons of small or repetitive purchases. No longer.
These days especially, it’s likely you have a significant number of customers on payment plans. That’s OK, if they and you understand the key components of the plans.
Two popular cost-containment policies sometimes end up being cash drains.
Nobody ever wants a customer dispute to land in a courtroom. But is arbitration really a better alternative?
During the most recent economic troubles, the popularity of credit insurance skyrocketed. And for many companies, it’s a good deal, as long as you understand what it will do for you and what it won’t do.
You may soon have significantly larger carrots to dangle in front of employees to get them healthier and reduce your healthcare costs.
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