The delicate art of getting paid
10 Jun 2013
Collection problems are inevitable - but manageable
Written by
The Big Idea Editor
Collection problems are inevitable--but manageable
Collection problems are inevitable--but manageable
John C. Arensmeyer faces a constant conundrum: How to get customers to pay on time without chasing them away. Since most clients of ACI, his $2 million Sausalito (Calif.) software company, are major corporations, his invoices often wind up in a black hole of bureaucracy. Some 45% of payments average 30 days late, making it hard to pay his own bills. Still, Arensmeyer hesitates to come on too strong. "I don't want to harm the relationship,'' he says. "It's a very difficult line we walk.''
The delicate art of getting paid
Source: Businessweek
FURTHER READING:
On cash flow and budgeting in Generator
