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We invoice from net30 to net120, we start chasing payments the day we should have been paid and cut suppliers off after a few days if there is no valid reason or explanations.
Money in the bank is more important than money in stats so we deal very aggresively with non/delayed payments. Ofcourse we also prepay everyone and we do not reduce uncollectible payments from our clients so we have to set examples and follow through.
A lot of people assume you chase payments because you need money so it can be hard for someone to do, also if you have to cut one of your prime income sources it may be even harder to do, typically people will pay you as late as you allow them to pay. In the long run it will pay off. If someone is struggling you wanna be the first to be paid, not the last!
Just last week I canned a contract with someone who said they would deal with me only and not my invoice / collection department. I told them that dealing with me is not a good thing and its not going to happen. I would rather not spend my time chasing payments when there is so many opportunities out there.
No matter how nice someone is, intentions will never pay your bills or put food on your table
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I buy plugs
Skype: Due_Global
/Due
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