Posts Tagged "client terms"

How To Ensure Prompt Payment

Posted by on Feb 22, 2017 in Blog

How To Ensure Prompt Payment

We all know of the domino effect which can occur when one business fails to pay on time. The company responsible for the initial late payment then sets off a pattern of knock-on effects and cash flow issues to every other business down the line. In an ideal world, all companies should pay their invoices on time. But, in reality, for whatever the reason that is just not the case. With such headlines being floated around last year as “Australian businesses worst in the world at paying their bills on time” and statistics which show that the average amount of time for an invoice to be paid is 26.4 days overdue, businesses must do all they can to ensure prompt payment. So what can you do to ensure your clients pay on time? Maintain good relationships Having a good relationship with your client will make sure that they are just a phone call or email away. This removes any barrier between B2Bs and allows connecting with the accounts department much easier. If a problem does occur, then a simple reminder should solve it quickly. Set your terms to ensure prompt payment Make sure your terms are well defined to meet your...

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