Providing a discount for customers who pay electronically should help reduce the total collection time for your firm.

Question

Quizplus · Accepted Answer

Offering discounts for electronic payments incentivizes customers to pay faster, thus reducing the time it takes for the firm to collect payments. Electronic payments are typically processed more quickly than traditional methods like checks, leading to improved cash flow and reduced collection periods.

Providing a Discount for Customers Who Pay Electronically Should Help