Should I Use Collection Metrics in my Incentives?

Incentivate Solutions27 Jan, 2022Technology

Using collection metrics in your incentives could be a double-edged sword. While they?re usually complex to calculate and administer they can give a great boost to company cash flow. Collecting payments on invoices on time is critical for a company?s performance. Companies can be profitable on the books but if they are unable to collect their payments on time they run the risk of running out of cash severely hindering their business operations. Without collecting cash from their customers on time companies are unable to pay their vendors and employees on time which can cause serious loss of morale and company reputation in the marketplace.