How are you paying for your business insurance?
Property and casualty insurance can be a major outlay for companies of all sizes.
P&C carriers who have provided coverage to you for a year or more, have assessed whether you are a good partner.
Part of your decision process in choosing a carrier has to be price but also ask how the carrier wants payment. … Read more >
Avoid Late Payment Penalties
Paying supplier invoices late can be a useful source of supplier financing, but if the supplier pushes back and hits you with late payment penalties, the cost can exceed the benefit.
Many suppliers are happy to have your business and willing to overlook or even agree to extended payment terms. … Read more >
Are you maximizing supplier credit?
Suppliers extend payment terms to customers based upon their assessment of the customer’s credit worthiness and market conditions. Special circumstances may entice a supplier to provide additional credit to the customer thus providing interest-free financing for the customer’s working capital.
Special circumstances may include a new product category or location. … Read more >
Are your customer payment terms competitive?
Payment terms vary by industry and often by customer. Some more aggressive customers will take longer to pay than you allow. Your challenge is to grant payment terms that are consistent with your industry, your pricing and your need for cash flow.
Being granted payment terms is a privilege. … Read more >