Tired of going through your box of unpaid invoices? How do you improve your cash flow, cut back on sending customer reminders, and decrease your churn? These tips should help you properly manage your billing.
1) Send your Invoice without Delay
Business owners often sit down and send out invoices all at the same time, long after the services have been completed. This "ritual" is not necessarily the best strategy to getting paid on time. It is better send your invoice as soon as the service ends, while the iron is still hot. It also makes your relationship with the customer more personal. Does it seem complicated to keep this pace with all your customers? Your invoices can be sent automatically at a specified time with an online project management software like a CRM. With Sellsy, customers can easily view their invoices and download them in PDF format.
2) Stay on Top of the Billing Process
Invoice read, payment pending, first reminder sent by email, second reminder by phone to try to... From your CRM tool, you can keep track of your billing progress and view all the invoices history at a glance. This makes it easy to identify bad payers and adapt your contact with them accordingly, personalizing your communication even more. A CRM tool also allows you to make a plan to recover your unpaid invoices.
3) Facilitate the Passage of Payment
Forgetting to attach bank details, wrong check order, a glitchy online payment tool... When the time comes to pay the bill, these kinds of errors can quickly push back deadlines and put your financial situation at risk. How do you avoid these little bugs that prevent the customer from releasing his payment information? -By allowing your customers to pay online with just a few clicks or by automating recurring transfers to be sure to not miss a thing. Digital payment is also a good solution to lighten this process.
Simplifying the sales cycle has real benefits for both you and your customers:
- You get paid faster: no more losing time to deposit checks received in the mail
- You let your customer avoid tedious administrative tasks