“Provide an incentive for your customers to pay their bills. If you normally require payment within 30 days, offer a small percentage off (5% to 10%) if they make the payment in 15 days.”

It has been pretty common in certain parts of Europe, e.g., Germany, to offer an incentive of early payments. Other countries and know as having longer payment terms in general, e.g. Italy with 90+ days.

When do you think that companies will stop using cheques and the phrase: “The cheque is in the mail, please be patient…”

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