“Ask the Legal Professional”
Pittsburgh Business Times – January 9 , 2015
Q: What can I do in the new year to improve revenue?
A: As the economy crawls out of the recession, we are seeing a lot of bright spots in various business sectors. This allows companies to put more resources into sales, marketing and other activities targeted at business growth. As the economy improves, the chances of collecting on bad debt or old accounts receivable increases. Many account debtors will be sitting on additional assets in the new year, which means it is a good time to revisit collection strategies. Some companies will find it beneficial to make a push using internal resources, while others find it beneficial to outsource collections. In either scenario, there is no time like the present to build up liquidity in the new year by cleaning up receivables and your balance sheet.