Just as death and taxes are the only certainties in life, as they say, it is equally certain that businesses do not sit still over time, at least most of them anyway. Some thrive and grow, while others decline. The latter category will not always be the fault of management or the owners of those companies. Quite often, it is the actions of others that catch these companies at the wrong time. Therefore, it is prudent for a Credit Policy to include a regular review of existing customers, even those in the thriving category.
To read the entire paper from our partner, the Federation of Credit & Financial Professionals, click here