4 ways to speed up invoice payments permanently
There’s no better feeling than finishing a job, sending the invoice, and crossing it off your to-do list. Those good vibes can evaporate quite quickly though when the very same client starts avoiding payment.
If you’re chasing invoices weekly, crossing your fingers when you click ‘Send’, or worrying about cash flow, you need to speed up invoice payments permanently. Here are 4 ways to get paid faster.
1. Tell them what you expect when you start working together
Some of the most irritating invoice delays can be based on forgetfulness and misunderstanding. Sometimes it’s not enough to have the due date and terms on the invoice itself, it needs to be in bold in an email!
Put it all down in writing before you start and get confirmation they understand. That way, your client can’t pretend they didn’t know when the deadline was.
How to do it successfully: Being firm doesn’t mean being impolite. If you’re not used to being direct with clients, you might be surprised how well they respond to it. People like to know where they stand. Tell them when and how you expect payment, and always back it up in writing.
2. Fit in with their process
Bigger companies often have an accounts process. It might not always work brilliantly, but it’s there! They’ll probably have a lot of suppliers, so your invoice will be treated just like everyone else’s. Butting heads with them over a desired due date is unlikely to get you very far.
This doesn’t just apply to massive businesses with hundreds and hundreds of staff. SMEs with fewer than 250 staff often have a specific invoicing system.
How to do it successfully: Instead of choosing your own due date and seeing it ignored, ask them what date they process invoices and when you’ll be able to expect payment. If they’re usually on time, the predictability will be reassuring.
3. Use your instincts
Client ignoring your emails? Avoiding calls? Doesn’t seem to be asking for updates anymore? They might be about to ghost you and your invoice.
Many of us want to see the best in people, but a bit of healthy suspicion can save you A LOT of time and disappointment in business. If things don’t feel right, pay attention to that. The sooner you intervene, the more likely you are to find a solution.
How to do it successfully: If you still owe the client work, but you’re worried about their willingness to pay when it’s done, press pause until you’ve gained a bit more confidence. If you’ve finished the work, politely remind them you’re not going anywhere until that invoice is paid!
4. Set automatic reminders to do the chasing for you
Chasing payments is frustrating and repetitive, but so many freelancers and business owners have to accept it as a necessary evil. If a client’s dragging their feet, you have to keep pestering them, but you don’t have to spend loads of time on it.
How to do it successfully: With Solna, you can track your invoices and send automatic reminders if they’re not paid on time. Just set the templates up, choose when you want them to go out, and you’ll never have to type “Just checking you got my invoice…?” again!
Chasing payment is always worth it, even if it feels a bit awkward. With the right attitude, approach, and digital tools, you can be persistent while you work on other things.
Solna gets rid of the stress of chasing invoices with automated reminders that get you paid faster.
Do more of what you love and less of what you don’t. Get started now.