All businesses operating in today’s climate need to have constant and rigorous focus to their commercial exposure.
Against the current competitive background it is very difficult to contemplate turning away business especially from a customer of long standing.
However, there are times when subsequent events show that on occasion the best business decision was to leave it to your competitors.
When stricter controls are in place over such elements as payment terms and credit limits the result is likely to be a reduction in turnover.
The upside of such fiscal discipline carries its own rewards. Avoiding defaults by customers is the surest way to protect the company’s bottom line at a time when profits are hard won and losses easy to establish.
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