Hi guys. With the silly season upon us and customers becoming complacent and lazy, right now it is absolutely vital to chase up invoices for payment as quickly and diligently as possible. Here is my Top 5 ways to get paid before Christmas:
1. . Very tight deadlines and ultimate deadline of Wednesday 21st December 2016. This gives you an extra 2 days to reconcile payments and follow up those who miss. Giving them until Friday 23rd is too late.
2. Full transparency. It is Christmas, for them, for us, for everyone. We are all in the same boat so ask your customer if they forsee any problems paying you given the heightened level of diligence you have to have in December. And explain that you are sure they can understand and will be doing the same in their business.
3. Be ultra decisive. December is not the time for fluffing about- you must protect your business and your cash flow. Make decisions then and there and trust your instincts.
4. Positive reinforcement at this time of year works a treat. Explain to the outstanding customer that you are sure they deserve a break and that you would love to help them finalise this before Christmas so it is not hanging over their head and they can start 2017 with one less worry.
5. Use this email template:
Good morning/afternoon I write regarding the above-mentioned invoice (invoice number in subject line) which remains outstanding in the amount of ($$debt amount). Given the time of year, we are currently undertaking a review of all outstanding accounts in an effort to finalise them before Christmas. Your account has been flagged and I am hoping we can please get it paid urgently so we can both enjoy the break without this headache. Our account details to pay into are below: Bank, account name, BSB, account number. I want to thank you for utilizing our business in 2016 and look forward to receiving your most urgent payment.