Extending credit terms to your customers is one of the fastest ways to grow your business. If you already offer payment terms to customers in good standing do you complete a background check. analysis? If your customers pay on time, all is good, but what happens if they don’t pay you timely or not at all? What happens if one of your customers goes out of business? How can you protect you business? How does this affect your cash flow and long term exposure?
Extending terms to your customers makes sense, but you should do everything you can to temper these risk?
Wouldn’t it be nice to have the ability to assess the risk of a new client before you take that contract? There are fee based credit reporting agencies that can run a credit history for you so you can learn how these customers have paid their obligations in the past; or as a free service to our clients Marathon will work with our credit reporting agencies and help you assess the exposure before you commit terms with new or existing clients. These background checks and commercial credit reports are a free service to you. Remember we want you to conduct business with only creditworthy paying customers because the success of your business relies your good clients ability to pay timely.
In the end, we can not avoid all the risks but let’ss take control where you can and research the credit of your customers leaving you with healthy cash flow and peace of mind.
Call us at (800) 647-0850 we can reduce your risk, improve your cash flow, and grow your business.