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sergiy2304 [10]
1 year ago
15

if a company wants to speed up cash collections from customers, what method would it most likely use to accomplish this goal?

Business
1 answer:
Vikki [24]1 year ago
3 0

Company can speed up the cash collection from customers by optimizing the billing policy, by monitoring the receivables and following up unpaid invoices.

There are many effective ways to speed up cash collections from customers. Every business needs a formal policy for billing and collections. Set up a formal billing system in your organization that ensures bills are sent out on time. Use a standard format for your bills that encourages people to pay on time and in full. Make sure every bill contains all the details the customer needs to make the payment, as well as a deadline for payment. It is vital for any business to know how much cash is coming in on a daily or weekly basis. Put a system in place that keeps track of payments received, as well as tracking which bills are still outstanding. When customers don’t pay their bills on time, you need to follow up with them. Begin by sending a friendly reminder that the bill is still due in many cases, this reminder will do the trick.

To learn more about customers billing policy please visit:

brainly.com/question/6758467

#SPJ4

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Answer:

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3 years ago
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Answer:

a. $24,000

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Explanation:

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