Effective Strategies for Dealing with Unpaid Invoices Sending invoices promptly, offering online payment options, requesting upfront deposits, providing discounts for early payments and charging late fees when necessary are effective strategies to handle unpaid invoices and late payments. Implementing a drip campaign of reminders can significantly reduce late payments. Researching clients' credit reports and escalating the issue if needed are additional steps to ensure timely payment.
Proactive Measures to Improve Cash Flow Taking proactive measures such as sending invoices immediately after completing a job, diversifying payment methods, asking for upfront deposits, offering discounts for early payments while enforcing penalties for late ones can greatly improve cash flow. Utilizing email marketing campaigns as reminders and conducting research on clients before engaging in business relationships are crucial steps towards minimizing overdue accounts.