Blog post -

If you want customers to follow payment terms, internal stakeholders need to sing from the same hymn sheet

Top-down ownership requires internal stakeholders to adopt a common culture where employees at all levels – from the boardroom to salespeople - are responsible for collecting cash from the customers. The cash collection process can be incorporated at all levels of the organization structure by providing proper training and accountability through KPI metrics.

In this video, RIABU’s Simon Littlewood and guests, Yvonne Rankin Constantine, Director & Founder at Rankin Constantine Global Consulting, and Peter Hone, Rig Inspection Manager in the Asia Pacific and Southeast Asia, discuss the eight elements of RIABU’s Virtuous Revenue Cycle (VRC) which is a cycle of continuous improvement in service culture and delighting customers by anticipating and responding to their every need and ensuring that you get paid on time.

Get more tips on effective cash flow management from our book, Let The Cash Flow. To find out more about how RIABU helps small businesses get paid on time, visit RIABU.com

Topics

  • Business enterprise, General

Categories

  • cfo
  • riabu
  • invoice
  • late payments
  • balance sheet
  • accounts receivable
  • risk
  • sme
  • business owners
  • cash flow

Contacts

Related content

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