Maintaining timely client payments with field sales software
Maintaining consistent cash flow is imperative for the success of any business. For small and medium-sized companies, in particular, a steady revenue stream can be the difference between staying open and on top of things, and shutting down. Small businesses often get their start right out an owner’s pocket, but that kind of investment is not sustainable when any type of expansion requires extra working capital. Company growth requires funding, and funding often requires regular incoming revenue.
For field service companies, where payables are largely dictated by clients, timely payments are critical to success. Fortunately field sales software offers features that make it easy to ensure that clients pay their bills and fees on time, month after month.
Use these tips, combined with your field service management app, to ensure that clients are sticking to their end of the bargain:
Clear expectations: Let your clients know a deadline for payment before setting any sales in stone. The terms and timelines for payment should be outlined on the sales agreement, and it should be made clear during negotiations that your company expects to be paid at a certain time. Many small to medium-sized businesses charge late fees for late payments. If this seems like a harsh stipulation to impose on all your clients set up a system where only chronic late-payers are penalized by fees. With mobile business applications sales reps can go over contracts, including payment terms, with customers in person and make sure they understand the agreement.
Instant invoices: If your field sales company is depending on paper invoices you’re falling behind. Digital forms are gaining popularity, not only for their ease of use, but also because they can be delivered to customers instantly. The lack of delay ensures that a client knows precisely how much they own and when it is due. Mobile invoicing can be set up to confirm delivery when a person opens the email with the invoice.