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okay the corollary to paying Accounts Payable slower is collecting accounts receivable faster so today in our version of 52 tips were gonna talk about collecting faster because collecting faster is going to have you hold on to your money and although you dont see that in terms of real cost savings directly you do see it indirectly just like paying a piece lower you see it because what you end up with is less interest costs because if youve got more of your cash because youre collecting faster you dont need to borrow nearly as much if you dont need to borrow as much youre paying less in interest costs and thats saving you money so lets talk about seven different ways you can collect faster first of all change the terms in your contract from 30 days to 15 days for seven days something faster to quit late fees or interest in your contracts three start to do diligence on your customers make sure that they can actually pay you four go out and create a system or a process for colle
