The Worst Invoice Collection Mistakes

Invoice Collection Mistakes

Did you know that 39% of invoices are not paid by their due date? Not only that, but 48% of clients delay their payments, and a further 52% of businesses are asked by their clients for extended terms. Invoice collection is a crucial part of your business, where keeping your cash flowing is important so that your business will thrive. (more…)

Accounts receivable

Keeping your accounts receivable in order is a challenge. Often the problem seems to lie with others. According to a 2017 Payment Practices study by Atradius, 92.6 percent of businesses report late payments, 48.8 percent of invoices are overdue, and businesses were forced to write off 2.1 percent of receivables as uncollectible. While we can’t control when and how clients make payments, setting up measures to keep accounts streamlined can clear up the clutter. (more…)

invoice tracking

Tracking your invoices just makes good financial sense, but did you know it can also help your business to grow? Meticulous accounting allows for fewer crises, more informed planning, and the knowledge that your accounts receivable is running smoothly for prompt payments and satisfied customers. No matter the size of your business, careful invoice tracking can fuel its growth. Read on for our top five tips to advance production via invoice tracking. (more…)

It can be uncomfortable to navigate the issue of late payments by your clients, but it is a common issue faced by businesses across the globe. You’ve built relationships with your customers, worked hard on their behalf, and met all of the agreed deadlines, only to find a few days or weeks past the due date that they have not yet paid for your service. (more…)

Chasing down debts owed makes for an interesting film plot, but it’s rarely entertaining in real life. Trying to collect on an overdue invoice is more likely to inspire stress and anxiety than kicked-in doors or epic explosion scenes. You’ll also want to ask for payment while leaving the door open for a continued working relationship. Finding that delicate balance between firm and respectful can be a challenge for even the most tactful negotiators. (more…)

Invoice reminders

Have you been wondering what sorts of benefits your company would get out of invoice reminders? Maybe electronic invoicing is new to you, or perhaps you already use it to outsource some of your financials and are unsure of how to implement reminders? Are you worried about the effect of how these prompts will affect your existing customer relationships? (more…)