James Wilson could achieve this objective by focusing on both cost reduction and revenue enhancement
What is Cost reduction?
Cost reduction is the procedure of lowering a business's expenses in order to increase profits. It entails locating and eliminating expenses that don't benefit customers in any way, as well as streamlining operations to increase productivity.
What is revenue enhancement?
The objective of any successful revenue enhancement strategy is to build and improve on current payment levels and then recover arrear debt. As indicated, this document seeks to identify causes for non-payment and to develop a strategy to address those challenges.
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