Invoice Collection

You need to get paid, on time. Late invoice payments are a common issue faced by businesses, but cash must be flowing in by the deadlines to keep your company afloat. Following up on outstanding invoices can feel awkward to navigate, particularly with clients with whom you’ve had a longstanding affiliation. When the time comes to chase the payment, and you’re agonizing over the tough conversations you’ll need to have with a client, remember that you are owed for your work! Those difficult conversations feel onerous, but luckily there are methods to help you to feel more in control in this area of business, which will also preserve the relationships between your business and its clients. We want to help take away some of your discomfort by offering some invoice reminder samples that will get you paid faster. (more…)

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…)