5 March 2018

What steps can you take if your customer is late paying or doesn’t pay?

The question is not whether you will have to deal with defaulters, but how often. Almost every business owner is faced with this at some point. At worst, they don’t pay at all. Find out below what steps you can take and how you can arm yourself better.

How to still get your customer to pay
No sign of payment? From the third reminder onwards you can charge reminder costs

You may well break out in a cold sweat if your customer is late paying (and payment is long overdue). That’s not surprising. This situation will jeopardise your cash flow. Fortunately, all is not lost yet. There are a few ways to make sure you still see your hard-earned cash appear in your account.

It sounds obvious, but you’d be shocked at how quickly you forget: send your customer reminders. No sign of payment? From the third reminder onwards you can charge reminder costs. As we’ve said before, it’s best to work with general terms and conditions that you can reference. You should have these drawn up by a lawyer.

No joy at all with the above? Then you’ve got a serious problem. You’re at the point where you are really going to have to force your customer to pay. A debt collection agency can handle this task. But bear in mind that this will obviously put your relationship with your customer at risk. That said, you might ask yourself whether you still want to work with a customer like this.

Tip: avoid the disaster scenarios above and do a quick and simple check of the solvency of your future customers on the internet. Financial databases can divulge a lot of information to you.

Optimize your customer management with ING Invoice Solutions

Getting your customer to pay costs you much time, effort and stress. And in the meantime you still have to keep your business going. Do you recognize these situations? Then save valuable time by automating your invoicing.

With ING Invoice Solutions, you can organize your affairs without losing time. Via this online platform, you will be able to create and send invoices really quickly and you will get a bird's eye view of your income and expenditure. The faster you can send out your invoices, the sooner you will be paid.