While requesting payments for late invoices from your customers and clients may seem awkward and stressful for some, it is still payment for service that they had requested and that you accomplished. Therefore, you should rightfully get paid for your hard work and time.
Here are a few great tips on how you can overcome the discomfort and tension as well as preventing problems that may occur when requesting payments from your patrons.
Use online software
Using online software such as Xero is a great way to follow up on late payments. You can schedule generic due date reminders and messages in advance to be sent out to clients who have yet to pay for products or services rendered.
An ideal email reminder is simple and straight to the point such as, “We wish to inform you your invoice is overdue.” Then, include a link in the email to where they can pay to make it an easy process for your customers.
Provide instalment plans or layaway purchases
Offering payment plans is a great way to show your customers that you care. It indicates that you are aware that they may not be able to pay in full. Most people today love the convenience of instalment plans or layaway purchases, especially for high-end products and services. For business owners that prefer not to pressure their valued customers to pay in full, consider having this possibility.
Picking up the phone to get in touch with your clients is the best and fastest way to know why they’re late on their payment. It will allow you to clearly understand the situation so that you can take the best course of action. Truly listen and understand their situation, then as a professional business owner, explain your position in a firm but calm way.
If your business allows it, provide other possible payment alternatives or a due date extension. Doing so may give you a greater possibility that you will get paid and turn your customer into a ‘raving fan’ which will do wonders for your business.
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