Invoiced and account payments.
WHAT DIFFERS FROM CONSUMER PAYMENTS
Payment terms rather than immediate payment Approval processes on the customer's side Purchase order requirements Larger amounts, fewer transactions
WHAT DELAYS PAYMENT
Invoices lacking required references Sending to the wrong person Disputes over scope raised late The customer's own approval cycle
WHAT TO ESTABLISH BEFORE INVOICING
Who receives it What references must appear What approval is required When their payment runs occur
WHY THAT LAST POINT
Missing a payment run adds weeks.
WHAT TO INCLUDE ON EVERY INVOICE
Clear description The agreed reference Payment instructions and account details Due date and terms
WHAT TO AUTOMATE
Issuing Reminders before and after due date Recording of receipt
WHAT TO OFFER
Several payment methods, including transfer with a unique reference.
WHY A UNIQUE REFERENCE
It makes reconciliation automatic.
WHAT TO TRACK
Days from invoice to payment, by customer.
WHAT TO ACT ON
Customers consistently late, and what it costs you.
WHAT TO AGREE IN ADVANCE
What happens when payment is late.
