10 Common Mistakes to Avoid During Debt Collection
Debt collection is one of the most important and trickiest processes that impact the cash flow of a business. When not done properly, debt collection can have financial repercussions and reputational damage. With a process this important and intricate, mistakes can...
Top 5 Benefits of Business Process Outsourcing
Business process outsourcing (BPO) is the practice of contracting with an external company to handle specific business functions or activities. Essentially, you hire a specialist outside your organization to take care of certain tasks, allowing you to focus on...
What Are the Steps Involved in Calculating Accounts Receivable?
Accounts receivable (A/R) represent the money owed to a business by its customers for goods or services sold on credit. It’s essentially a line of credit extended by the company to its customers, who are expected to pay within a specified timeframe outlined in...
How Do You Handle Cancellations in the Fitness Business?
According to IHRSA, most fitness centers and health clubs lose half of their new members in the first six months. Cancellations are a part of running any business, and the fitness business is no exception. They require a significant amount of time and staff for...
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