offering customers a variety of payment methods to make payment easier
offering bonuses or rewards for early payment, such as discounts, free shipping, gifts, loyalty/points
late payment fees, to encourage prompt payments
checking the credit rating of prospective customers
sending customers’ statements monthly and at the same time each month
following up on accounts that are not paid by the due date
putting policies in place for collecting bad debts, such as using a debt collection agency
offering discounts to customers for early payment.
