Late Payments or Non-Payments for Fence Companies: How to Keep Your Business Healthy by Getting Paid Fast?
Posted in Self Help
Late payments and unanswered invoices are a huge headache in Fence Industry. You seldom receive the payment of your work at the right time and with the exact amount. But cashflow is the bloodline of your business and it needs to be on time.
Late payments affect your ability to provide capital for your staff, maintain tools, upgrade equipment and technology. There can be a number of reasons for late payments like failure in notifying the client or missing the billing statement, client neglect to pay or refuses payment.
To manage these issues:
– You always have legal rights to claim the payment for the work that you executed.
– Don’t settle for hand shakes, you should use legal documents, contracts and other agreement papers.
– Proper documentation of invoices and other supported transition history. They are helpful in case of disputes.
How the tech resources can help you? Software like FenceERP make documentation, work reporting quick and easily accessible. Such digital project management system minimize errors, update/access project information in real-time, keep documents/transitions safe & in order, give clients assurance and trust.
Feel free to contact us if you need help integrating digital solutions in your fence business.