"A recent study indicated that the odds of payment for a company's invoice drops to 93% once it's a month overdue. After six months, it falls to 57%. After 12 months, 25%, and after 24, just 13%. It pays to move quickly while receivables are young if you want to maintain cash flow and avoid writing off bad debts."

Click here to listen to The Almar Company's Mario Aldana on the Inside Business Radio Show hosted by Bob Ryan.