News

Is It Taking Longer To Get Paid For Your Shipment?

June 7, 2021

Yes, more and more Americans are getting vaccinated and things are starting to return to the new "normal."  The problem is that as business starts to pick up again, more and more companies are having a difficult time collecting outstanding money.

According to a recent report by the National Association for Credit Management (NACM)  60% of their members reported that new purchase orders and confirmations have longer payment terms listed than have been approved.  This information is also confirmed by payment histories of "good" customers.

Now is the time to visit your company's policy of handling these extended special terms of payment requests.  You must empower A/R to enforce company policy before it affects your own company's bottom line.

Source: CFO and Controller Alert