Suppliers are constantly faced with two tasks: acquiring new paying accounts and satisfying the needs of their repeat customers. The two are related to one another. When dealing with new accounts, suppliers should focus on developing a lasting relationship with their customers. There are 3 steps suppliers take en route to converting new accounts into satisfied repeat customers. Select Credible Customers KYC (Know Your Customer) Structure the payment plan Select Credible Customers Before accepting business from a new customer, suppliers…
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