How to get your customers to pay on time? 7 easy strategies

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Completing the work and issuing an invoice is only half the battle. You still need to get paid. Some companies are notoriously late with their payments. How do you get your customers to pay on time? Read on to find out.

How to make your customers pay on time? – index:
Check your contractors
Sign a contract
Invoice as soon as the work is completed
Charge late fees
Stop working for debtors
Use factoring
Reward early payments
Check your contractors
Get some information about your contractors before you do belarus whatsapp number database with them. Issuing a deferred invoice is like lending money to your client. Would you lend your money to just anyone? Probably not. Answer the following questions first:

Do you know the company you will be working for?
Do they pay their obligations on time?
How much will the invoice amount be?
Will the client sign a contract with you?
You can get some of the information yourself. Check the official register of entrepreneurs. If the company is not listed there, this is not a good sign. Another source of information is the Internet. Type the company's details into Google. This way, you can find reviews from both customers and contractors. If the company is unreliable, you will probably find warnings from its business partners. Similar information appears on Facebook. This is another place worth checking.

Also, check how long the company you want to partner with has been in business. If it is a young business, you need to be cautious. This does not mean that you should not cooperate with such a company. Just ask for advance payment or cash payment at the beginning of the cooperation.

Remember that even a company that has been in business for a long time can face financial problems. Therefore, check what is happening in your industry from time to time. Credit agencies can be useful here. These are specialized companies that deal with obtaining information about entrepreneurs. It is worth using such data in the case of a long-term contract for a considerable amount.

Of course, not every client will be verified in the same way. If you offer services for small amounts of money , you won’t do a thorough check of the contractor’s information. However, when it comes to large projects, it’s worth taking the time to verify your potential clients.

how to make customers pay on time
Sign a contract
Signing a contract will not make your client pay on time. However, such a document can be very useful when you need to take legal action. Therefore, concluding a contract makes clients take their obligations more seriously. It doesn't matter what you call such a document. It can be a contract or a purchase order.

Interestingly, it doesn’t have to be in writing. Agreements sent via email or instant messaging apps are also legally binding. A contract can contain additional details that are important from your perspective. These include the date and method of payment and information about late fees.

Invoice as soon as the work is completed
You may think it doesn’t matter when you invoice. It does. When you delay issuing an invoice, you show your customer that you’re not in a rush. While this may not be your intention, you should be aware that this is how it may be perceived. As a result, the customer will also be less incentivized to pay on time.

Invoicing immediately after the work is completed will speed up the payment process considerably. In addition, you can ask the client to confirm receipt of the invoice, and as the due date approaches, you can send a reminder about it. Also, don't forget to send a thank you note for the timely payment. With our free invoicing app , you can set reminders for upcoming payments and check the amount due and due dates with just one click.