Being a new business can be challenging, and if the books aren’t in-check it’s make or break. Most start-ups, begin their venture into VAT, TAX and cash-flow surviving financially, from month-to-month. But as clients come in and regular work is guaranteed, why is it that income is still a problem each month? Is money too tight to mention?
Communicate with clients efficiently and effectively to collect payment
Invoice – template creator – Pandle
Invoice clients with professional templates so that customers are instantaneously prompted with an official-looking payment alert. This sets the tone of an official company that has provided a service and in return expects payment to be carried out with similar regard.
Templates can be chosen through the Pandle web app. Once selected, effortlessly distribute customised invoices wherever, whenever. Because when processing payment, time efficiency is integral; the faster a receipt is sent out, the faster you’ll be paid – in theory.
Payment Reminders – Pandle
Fallen flat? Be persistent, not desperate. Address clients directly in a timely fashion and maintain positive relationships with clients, (if you still want them) with Pandle’s payment reminder tool.
Schedule reminders so that they’re out-of-thought, out-of-mind. Refrain from repo-man mode; don’t bombard clients, you’ve a respectable brand to preserve. Monitor the amount of delivered payment reminders to avoid over-contacting and switch them on or off where appropriate. Approaching a client in an untoward manner, may hinder future liaison and in some cases prevent disbursement.
Target clients tactfully, at set dates – with prompts that are directed towards them. Sending out invoices in advance, improves the chances of your business receiving payments on time, covering wage costs, business expenditure, etc.
Cleverly, Pandle’s payment reminder tool, amalgamates an automated feature with a customisable option. This sends out personable reminders, tailored to cajole each client individually, that are engaging and more likely to influence a cause to action. Additionally, addressing a client less-formally, on a first-name basis, implies you’ve a relationship, evoking pathos, and prevents your reminder from slipping amidst the spam.
Does your client claim they’ve already made payment? Pandle’s Bank Feeds feature, auto-imports all transactions, so if it’s not in Pandle then it doesn’t exist.
Is there a disagreement on a payment that you’ve issued to a client? Track the entire ‘sign off’ process via Pandle, where you’ve electronic proof of ‘accepted’ quotes that were sent out and confirmed via the client.
Paid a supplier and they’re questioning proof of payment from you? Search your transaction, retrieve your receipt of payment within Pandle – that is attached and associated with the relevant client / supplier involved – and email it over. Not only can you import and store receipts as evidence, but also export bank reports and financial stats as PDF files, to use as further supporting confirmation.
Last year global provider of e-invoicing Tungsten Network found that “23% of 1,000 senior decision-makers reported that late payments put them at risk of closure.” Is your business struggling from late payments and disputes?
Create an account with Pandle for free and discover the power of refreshingly simple bookkeeping through reliable cloud software.