Credit Policies and Procedures to Protect Your Business
Would you like to provide loans to people you didn’t know very well? It doesn’t sound too wise, but many businesses are in the finance business by default. In effect, when you offer invoice payment terms to your customers, you're providing short-term loans to them. Companies that don't have sound credit policies and procedures are assuming unnecessary risks and can jeopardise their existence. Here we’ll look at ways to minimise your risk with credit policies and procedures.