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Relationships with debtors can be a very delicate matter. Working w/ large blue chip companies usually leaves the ball in their court and chasing payment is a balancing act of not wanting to portray the wrong image and yet being affirmative enough to get what is owed. Late payment in this country is prevalent across all industries and payment terms have been getting progressively longer. 60+ days. We met a company waiting 120 days to be paid on an invoice, a third of a year. Companies spend on average half a day a week chasing late payment and that time would be better spent working on the business to facilitate growth.
Toggle Commented Sep 2, 2011 on Managing late payments at Small Business Matters
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Jul 21, 2011