Nothing drains excitement from a new project like the dreaded unpaid invoice. If construction billing leaves you waiting and wondering about payments, these strategies can shift your overdue balance to paid-in-full.
Why Payments Stall in Construction
- Clients forget or ignore terms
- Endless change orders delay final bills
- Lack of standardized follow-up
Fix Your Payment Process
1. Clear Upfront Contracts
Ensure your terms and payment schedules are transparent. Include retainer timelines, change orders, and cutoff dates.
2. Timely Billing
Send invoices on a strict schedule. Task a dedicated staffer or automate sending—they have no excuses for delay.
3. Friendly Reminders
Gentle, consistent check-ins are effective. Follow up after 7-14 days, hopping on calls if needed.
4. Streamlined Accounts Receivable
Outsource collections if internal reminders falter. You’re not annoying; you’re ensuring the work gets paid!
Something to Consider
Contracting is risky, but payments don’t have to be. Implement smart systems to reap the rewards without the wait. SkillBench can help manage invoicing effectively, getting your contracting firm off the letter table and back in green.
