DID YOU KNOW? According to Dun and Bradstreet’s database of 34 million businesses, nearly 6% of these businesses’ dollars are over 90 days past due. Avoid being part of this statistic by learning how to identify late paying customers early on.
Expert accounts receivable managers have a secret: they act quickly and fervently on accounts that show early signs of delinquency. To become an accounts receivable pro, you must learn to spot the beginnings of a delinquent customer. Keeping your eye on these details will help you to avoid extending credit to a customer that will soon turn into a debtor. You’re not completely innocent when it comes to late paying customers. You have the power to keep customers from becoming debtors and accelerate collections before it’s too late.