When a client falls behind in paying you, it can have a negative impact on both sides
. No one really enjoys making or receiving a late payment call.
By creating steps toward a better invoicing system, you may be able to better the due dates and overall customer relations.
Here are some ideas to help you keep your customers paying you on time:
Offer lots of payment options
To speed up the payment process, let your customers pay by any method they prefer. Offer them the choice of using checks, credit cards, wire transfer or PayPal. You must make paying online easier for customers if you want to keep things running smoothly.
Write up a contract
A written contract (include the product/service as well as the price/payment terms) can help you avert any future disasters. When you outline the details from the start, payment will be made on time and with fewer headaches.
Updates
If you see a delay in completing an order or a change in what you will be delivering, let your customers know about it right way before the potential issue becomes the issue. This technique will lower unknown surprises and provides an opportunity to talk about changes in relation to pricing that might slow payment later on.
Payment incentives
You should give a discount to customers who pay within a certain time frame. Also create a late payment fee structure for invoices that are not paid on time. Display your terms on your website and include it on every invoice.
Check up
Once you complete a project or ship an order, check up on the customer with a call or friendly email to see if they are pleased with what they received. This is what customer service is all about because it shows your true interest in their satisfaction. It will also help you to identify any problems that might slow payment.