Late Paying Clients - It's not Personal

When you're growing a business, a late-paying client can be frustrating. You have to dedicate time and resources to figure out what happened and why. You have to pull yourself together enough to have a conversation about money - something that's not easy for many people. The most important thing to remember is that your business fulfilled its part of the deal, and now your client owes your business

When dealing with late-paying business clients, remember that it's not personal.

What Happens when Business Debt Goes to Collections?

Debt collections may not be the most enjoyable part of back office operations, but it's absolutely necessary. Unfortunately, some of your business clients will miss a payment or more due to various reasons. If you've signed an agreement and fulfilled your part, they still owe you.  

What happens when business debt goes to collections?

Why SaaS Companies Need Debt Collection Services

A typical services contract requires a retainer or ongoing payments. Businesses selling software-as-a-service (SaaS), or anything else "as-a-service," rely on monthly or annual fees from subscribers. If those subscribers fail to meet their obligations, their accounts can be sent to collections for recourse. 

Non-payer churn is one of many reasons that Saas companies need debt collection services.

How to Efficiently Collect AR and Get Invoices Paid Faster

As accounts receivable (AR) begin to fall delinquent, your business expenses could fall delinquent as well. With every late-paying client, cash flow for payroll, rent, or other vendors falls short, threatening your company's bottom line and growth. The effectiveness of your accounts receivable department may be one of the most important measurements to determine the success of your business.

Use these tips to efficiently collect AR and get invoices paid faster.

How Your Business Can Find Cash & Stay Resilient in a Crisis

The recent Silicon Valley Bank crisis sent ripples through the world of small businesses, startups, and venture capital.  Thankfully, the crisis was mainly thwarted by getting bailed out and addressed by calls for regulation by the Biden administration. But it set enough investors on edge to recognize that it's not the first crisis to affect businesses, and it certainly won't be the last. 

Here's how your business can find cash and stay resilient in a crisis.

How to Deal with Clients Who Don't Pay

When you agree to do business with another company, the expectation is that you'll provide goods or services, and they'll pay in a timely manner. Providing the goods or services costs your company in overhead, salaries, expenses, and more. So what happens if your client doesn't pay on time or at all? Is there anything you can do to get paid or prevent late payments?

Here's how to deal with clients who don't pay.

Are You Taking Too Long to Collect on Receivables?

When your business has a late-paying client, follow-up calls must be handled quickly and with conviction. Late or non-paying clients cause your business to write receivables off as bad debt, and they could cause the deterioration of your business relationships. Or you could escalate to a professional B2B collections agency that values your business relationships and your cash flow.

Are You Taking Too Long to Collect on Receivables?

Understanding and Managing Your Business-to-Business Receivables

As a business owner, it's important to stay on top of your accounts receivable, especially when it comes to business-to-business (B2B) transactions. Accounts receivable refers to the money that your clients owe your company for goods or services that have been provided but not yet paid for. B2B accounts receivable management can be a bit more complex than consumer (B2C) accounts receivable, so it's important to understand how to manage your accounts effectively.

Understanding and Managing Your Business-to-Business Receivables.

6 Risky Clients that May Not Pay On Time

As a business that works with other businesses, the expectation is that they'll pay for the goods and services you're providing. Unfortunately, delinquency and debt in business relationships is a very real, all-too-common problem. If you pay attention, there are glaring red flags that could provide clues that some clients could be problematic.

Here are six types of risky B2B client behaviors that might indicate they won't pay on time.

Accounts Receivable and Business Collections Trends for 2023

It's time that we review our blog posts from the past year to discover any trending topics for 2023. In previous years, we've used this annual review to learn insights on how we can do better for our readers.  Let us know if there's a topic that we can do better for you in the upcoming year.

Here are the Accounts Receivable and Business Collections Trends for 2023.