Many businesses need to have some inventory available. But having too much inventory is expensive, not just to purchase but also to store, safeguard and insure. So, keeping your inventory as lean as possible is critical.
Businesses that operate in the retail or restaurant spheres have it relatively easy when it comes to collections. They generally take payments right at a point-of-sale terminal and customers go on their merry way. For other types of companies, it’s not so easy. Collections can be particularly difficult for business-to-business operations, which often find themselves in complex relationships with key customers. In these businesses, it’s often not as simple as “pay up or hit the road.”
