The US Federal Reserve Bank has stated its intention to raise interest rates three times in 2023, in addition to other measures to tighten the money supply. As interest rates go up, smaller businesses and financially weaker companies will see a larger increase in borrowing rates and interest expense.
How can a company minimize the impact of rising interest rates and limit bad debt in 2023? How can a business minimize borrowing while increasing profits and reducing inventory? Everyone is trying to address these questions.
Watch this video to understand how to:
- Judiciously tighten credit to financially weak, slow-paying customers
- Free your staff and save costs by using the right automation
- Minimize the impact of rising interest rates using AR automation