Balancing Your Receivables - Fireclay Tile in the New York Times
Last week Eric Edelson, Fireclay's VP and Co-Owner, was quoted in the small business section of the New York Times. Receivables are a big issue, especially for a small business, as your cash becomes tied up in your customers' hands, and there is a fear that you may never actually see the pay off for all your hard work. At Fireclay, we had an issue of people not paying us on time, and over time those customers' ability to pay wained as their business faced new challenges. By tweaking a few internal processes, we were able to realize substantial improvements in cash flow just by more tightly controlling our customers' terms.
Ultimately, this has allowed Fireclay to be a better partner for our customers, and for our relationships to be stronger with customers than they were before. If you have any questions, please feel free to email Eric @ fireclaytile.com.