For the longest time, businesses of all types have been issuing invoices with staggered payment schedules. This courtesy gives clients a period of 30, 60, or even 90 days to pay for goods and services received from businesses so as not to place a strain on finances, especially for large orders. However, the business landscape has changed over the decades, and commerce takes place at a much faster rate than ever before. Apart from banking, weekends mean less and less in the business world, and our constant connection via the internet and mobile devices have us closing deals and making sales with the swipe of a finger. So why should your business still have to wait a month or longer to receive payments on aging receivables?
Unpaid Receivables Place a Strain on Businesses
While the standard business procedure of issuing invoices with staggered payment schedules works out great for customers, it can create a major st