Invoice without delay
Your customer can’t pay until you’ve invoiced them, and sending your bill promptly gets everything moving. Chances are customers are also more open to paying when they’ve just received the goods or services that you delivered so cash in on the good will!
Include all the information
Make sure your invoice has all the right information, including a description of the work or product, the date it was delivered, and any customer requirements such as a purchase order number. Some customers have very specific requirements so ask what they need to see on the invoice. Make it as easy as possible for them.
Ask for prompt payment
Customers used to get weeks to pay invoices, but that’s changing. More than a third of businesses now request payment within 7 days. This might feel like too quick a turnaround but think about what would work best for your business and don’t be afraid to set terms that you feel are fair.
Be easy to pay
Customers will pay faster if they can use their preferred method to hand over the money. Offer a variety of options, from credit cards to PayPal and payment plans or instalments.
Follow up when due dates are missed
The thought of this can feel uncomfortable but if a customer misses a payment, it’s key to follow up. Picking up the phone with some gentle questions about whether they received the invoice, and if there’s any problem with payment, will put your mind at rest and give you the best chance of getting it sorted quickly. Don’t put it off, just do it!
Automate
Automating your invoicing ensures that this important job gets done and doesn’t leave it to when you can squeeze it in. This frees up your precious time and energy to focus on the most important invoices that would benefit from a personal touch.
You can also think about other ways to get paid – factoring or upfront payments are just two alternatives to traditional invoicing.
If it would help to talk through anything be sure to get in touch – we’re here to help.