By Debbie Nicholson, Think INK!
So you’ve just borrowed money for payroll, your salespeople are threatening to cut you off, and your credit cards are depleted! Oh, and just this morning the flatbed press broke! Does all of this sound familiar to you? I hope not!
If so: Act now!
Are any of these line items getting in the way of billing your customers? Well fix them! At once!
- Missing data
- Errors in the work order
- Incorrect or missing line items
- Incorrect contact information
- Email address is not deliverable
- Awaiting responses from sales or production
- The invoice does not match the customer’s purchase order
- Work pocket does not contain customer change request approval
- Waiting for delivery costs
- Awaiting shipping costs
- Invoicing procedures are too complex and not streamlined
An invoice must be produced and submitted to your client (preferably by E-mail) after completing their order. In my opinion, billing is just as crucial for the success of your business such as meeting customer deadlines.
Change of plan: If your customer receives their merchandise today, they should receive your invoice the next day!
I was recently attending a customer production meeting and at the very end of the session the CEO announced that yesterday’s sales total had entered the system. So that got me thinking – maybe the next statement should be … the previous day’s sales total invoice! Daily awareness is the victory here.
I know many of you think you might be leaving money on the table if you don’t spend days looking at the pocket of jobs for accuracy. But, don’t go over a dollar to hit a penny – it just isn’t worth it in the end.
You need to streamline your internal processes up front to avoid the invoice black hole!
- It’s not free to borrow money for payroll (not to mention the sleepless nights and stress it causes).
- You don’t want suppliers to lose confidence in your ability to pay their bills because they will turn a deaf ear to discounts on raw materials and urgent deliveries!
- Do I still have to mention the high interest rates on credit cards?
Raise your voice and your bill!