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Back to basics. (Business Credit Selected Topic).(collection)

Business Credit

| February 01, 2002 | Ryan, Michael | COPYRIGHT 2002 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

The sales staff is busy bringing in new business. Credit applications are filled out in their entirety. (It could happen!) You approve the account, and the sales department is thrilled. (It does happen!) The order is processed and shipped out on time, the invoice is generated with correct pricing, your customer understands the terms of sale, receives the invoice, pays the account on time and life is grand. Hey, this does happen, sometimes.

But what do you do when the customer decides not to pay on time, for whatever reason? If you are not communicating with your customer, you will never know.

The collection environment has changed with technology. ...

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