That is why it is of the utmost importance to manage ones accounts receivables. The importance of timely payments can not be over emphasized. Research has shown that not only do slow payments drain cash but the likelihood of being paid at all is significantly reduced as time goes on. For example, on average, when a receivable goes 90 days 27% are not collectable and if they go 180 days 43% are not collectable.

Best practices suggests that reminders and demand for payment should happen early, systemically, and alternating between calling, e-mailing, faxing, and mail.

Fortunately, with current technology all businesses can access the same collection tools as the large corporations. A good example of this is A/R Connection which offers a service where by a company uploads their Aging Report and the service automatically Calls, E-mails, Faxes, or Writes those customers who are late in their payments.

If any one is interested they can be found at http://www.arconnection.com