— sometimes for up to 90 and even 120 days. This is squeezing many small business’ cash flow cycles tighter and tighter.
2. Be proactive in your invoicing and collections efforts.
There are usually things you can do when submitting invoices to help make it easier for your clients to pay them. For example, make sure your invoices are clear and complete, with no missing information that might cause your client’s accounting department to kick it out of the system for further review.
Learn the subtle nuances of each client’s invoice payment procedures and follow them carefully. A few days before payment is due,contact your client’s accounting department to make sure they have everything needed to make payment — especially if the invoice is a big one.