Why accounts receivable best practices can help small businesses cater to large customers.

Just because you're a small business doesn't mean you can't set your sights on large clients. Small companies can service some of the biggest enterprises in the world, provided they have the skills and expertise in their respective industries to cater to the need of their customers.

They must also maximize their resources. A small company of 10 employees isn't going to have the same tools at its disposal as its enterprise-level customers, but that doesn't have to create a divide between the two organizations. Enterprise-level organizations will work with small businesses as long as those companies are able to cater to their needs. Cynthia Kay, head of the video production and communications consulting company Cynthia Kay & Co., covered this idea in her book "Small Business for Big Thinkers."

An article in Small Business Computing went over a couple of key points from the book. One of the main areas small businesses need to be cognizant of is how they manage the billing of their large customers. 

"Do you have the capability to do electronic invoicing and billing?" Kay asks. "If you can't navigate through their structure, they don't want to do business with you,"

This means companies both big and small must follow accounts receivable best practices. Fortunately, the evolution of technology has simplified this process because merchants can offer electronic invoicing. Businesses of all sizes can find common ground when they connect electronically. Following best practices on the accounts receivable side and using the right tools to facilitate these processes can enhance services and satisfy even the largest of your customers. 

by Ty Hardison

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