In the management of a company's activities, the field of invoicing is a crucial point to ensure the development of the company. To do this, a good invoice payments management strategy will have to be implemented. To this end, certain stages deserve to be followed. Find out here how to go about it.
Establish a good organization
Managing invoice payments well consists first of all in defining a good organization. Concretely, establish a fairly precise methodology. Being an important step in the process, it is preferable to call on a professional to support you in this approach. Discover interesting information on the subject Upflow Among other things, you must set up general conditions of sale. These must take into account the main rules that customers are called upon to follow
In addition, this provides the company with proof which will allow him to bring the customer to court when the commitment is not respected. However, to ensure the effectiveness of this method, it will be necessary to make a rigorous follow -up of the established organization. In this case, it may be useful to use certain suitable tools.
Communicate on the company's payment conditions
After establishing an effective organization, you will need to move on to the company's payment conditions. These may refer to the nature and amounts of the deposits paid upon signing. This may also concern the payment deadline and deadlines.
Additionally, to enable your customers to pay invoices on time, you can simplify the payment process. The first step will be to find an effective invoice management solution that will allow you to constantly update your invoices. For example, consider creating a document or spreadsheet that you and your clients can access. Another great idea would be to offer a multitude of payment methods to customers.
Establish the limits of free
During the research of prospects, salespeople generally offer pilot projects to potential customers. During the completion of the project, the latter generally benefit from free services and products. To avoid conflicts, it will be necessary to delimit the limits of free. Likewise, before this option comes to an end, the company must notify it to the clien
Request a deposit and control customer solvency
For a company in the start -up or growing phase, payment of invoices is very important to develop its activities. As such, it is an emergency to frequently control customer solvency. You can upstream check their history by making a solvency investigation
In addition, it would also be better to establish late payment penalties on invoices. This is particularly useful when the automation of invoices would not work. It will limit the exceeding of deadlines. There is a panoply of ways to apply penalties. However, remember to be reasonable and do it in small slices. Note that the goal is not to have an additional income, but to encourage your customers to pay their bill in time.
Claim payments
Billing management is primarily aimed at optimizing entries. To increase business cash flow, you can in some cases claim your payments. You can demand an acknowledgment of receipt to limit the risk of conflict.
In addition, it will be appropriate to show politeness when you write your bills. Even when the customer does not use good manners, you must keep your professionalism.
Relaunch the customer
Finally, effectively managing your invoices will be to find the right rate of customer recovery. Note that the payment reminder differs depending on whether it is an administration, a professional or an individual. You can therefore establish a recovery calendar of your customers according to their profile. For a reliable and efficient result, remember to increase the pace as the deadline is changing.
Before adopting a more severe measurement, you must respect certain steps. It will take at least 3 reminders before sending a letter of formal notice. In addition, you must personalize your invoices using already existing models. Excel leaves may seem simpler in this case. Using a professional is also a great way to get there.
