7 tips for your business to get payments from clients
Well, now that all your hard work is over, the long hours of tedious tasks completed, the nitty-gritty of the clients project attended to, delivered on time, signed and sealed - it is time to close the project. Your client is happy with the end results after receiving all the requisites from you to run their project successfully.
However, the project can only be successfully closed and completed upon receiving the final payment from the client. So getting your payment on time is the one-point goal to end a project.
Clients get edgy with payments:
After the successful completion of the project and its delivery, you would definitely want to close the deal with the payments made by the clients. All said and done, one big and common hurdle that comes in your way to reach the point of successful completion of a project is getting the Payment with a capital 'P".
Clients can get edgy when it comes to paying up the bills. When clients neglect to pay, business operations often come to a halt. It also hampers the business relationship and acts as a hindrance for long term association. Dealing with late or missing payments can end up costing you significant loss of time and money. This further delays you to proceed to give a go-ahead in sealing the deal with a "complete" status.
When the going gets tough, take the easier routes:
A delay in the payment process can be eased out with effective communication. Instead of sounding pushy, talk to the clients in a polite yet strong manner, focussing on maintaining long lasting relationships. After the project has been delivered to the client, continue to reach out to inquire about the status of payment. To avoid delay in payments, offer rewards, like a discount in the payment process during the onset of the project to initiate quick and timely delivery.
How does Task2Bill Come to Your Rescue?
When the project has been delivered successfully, but the payment process is delayed, there is room for disturbance in proceeding your business functionalities. A flexible and convenient payment process makes your client feel comfortable and easier for them to make the payments on time.
Task2Bill provides the most efficient, reliable and effective tool to get all your payments in order. The tool makes it easier for you to run the payment process smoothly and successfully, without any errors.
It has some of the most convenient and awesome features to ensure proper payment from your client, mentioned as follows:
1. Quick Invoicing
As soon as you finish the job with precision, start creating and sending your invoices quickly and regularly.
Once you get a nod from your client after the successful delivery of the project from your end, initiate the communication about the payment process.
A delay on your part to create an invoice will give a negative signal to your client and will further lead to the delay for the payment process to begin. So, the sooner the better. Start NOW!
Task2Bill enables you to create invoices promptly in a very user-friendly process. With only a few clicks - you are able to create an invoice from all billable items.
2. Upload signed contracts
As you start a project with your clients, upload a contract document signed from both ends where all terms and conditions, including payment terms, will be mentioned. Through Task2Bill, you have the option to upload contract documents regarding project/ task group & phases.
3. Receive upfront payments
A best and most feasible idea would be to take a partial payment upfront before starting the project. This payment terms can be conveyed during the discussion phase regarding the project. A partial payment encourages responsibility and motivates both you and your client to get rolling.
4. Set payment terms with payment milestones
Setting clear payment terms by offering more than one payment milestones is an advantage for users to initiate timely payments from their clients. Multiple payment milestones makes it easier for clients and gives a great boost to them for long lasting business association. Different phases of work can be linked to different payment milestones with specific due dates and payment amount.
Email alerts can be scheduled for an auto-send to clients before or after the milestone due dates that acts as a reminder regarding payment details.
5. Discount until the invoice due date
It is one of the most interesting and lucrative approaches to give a certain percentage of discount on the invoice if the client makes the payment within the due date.
This encourages the client to pay on time in order to avail the discount. The relevant message will be mentioned in the email alert.
6. Late fine after the invoice due date
Late fine can be charged if the client doesn't pay within the due date. This term and condition should be mentioned on the contract document. The late fine amount can be set on an invoice in Task2Bill. The relevant message will be mentioned in the email alert.
7. Use etiquette on Invoice
Courtesy and a friendly approach always ensures long term relationships with clients. "A simple 'please pay your invoice within... ' or 'thank you for your business' can increase the percentage of payments by large numbers. Let's accept this already known fact, in a world of business, customers are what keeps you moving. Keeping them happy and satisfied with your services will keep them coming back for more. Not only will you have a satisfied customer, but also someone who will refer you to others. Going about getting your payments on time is something that Task2Bill helps you with - efficiently, meticulously and successfully.
At the end of the day a happy customer leads to a happy you.
Task2Bill provides the most efficient, reliable and effective tool to get all your payments in order and on time. It offers quick invoicing, uploading of signed contracts, provides features to receive upfront payments, set the terms with milestones, offers discounts, late fine for delay amongst other features.