Listening to payment excuses from customers is undoubtedly a very frustrating part of the business cycle. It is essential to buckle down on the frequent excuses and understand how they can be dealt with.
Businesses need a regular cash flow to effectively function, and by spending your valuable time chasing invoices it takes you away from other important functions of your business. Upon an invoice being overdue, your credit policy should outline the process you take when circumstances like this arise.
Please see below some frequently made excuses and how they can be dealt with.
Ultimately there are always going to excuses being made when it comes to businesses providing a service or product. These methods act more as a preventative than a solution, so that hopefully more of your invoices can be paid on-time, meaning that the cash flow in your business is upheld.
For more information on how we can help you with your cash flow issues contact us today.
Published: 29th August 2023