Managing the billing operation for any business means you’ve encountered your fair share of definitions. It’s helpful to know as many as possible, but there are a few key terms that you’ve got to understand in order to function.
We really can’t overstate this point: a huge part of doing business (and keeping afloat) is getting paid. No matter what you are selling, you must have a clear and effective way to collect payments from customers. If you’re offering goods and/or services on credit (as opposed to paying up front in full), the payment collection process is even more important.