Your business deserves better than to provide for clients, only to have them not pay you once the service has concluded. Unfortunately, this is becoming a more common problem that companies are experiencing, and it’s got to stop. Businesses cannot go on this way, and if you are a company that faces this problem on a regular basis, it’s time to start doing something about this. But, what can you do?

Ensure You Can Accept A Range Of Payment Options

Different people find it more convenient to pay in different ways, and as a provider of a product or service, you want to ensure that the payment process is simple. This means that you are going to need to offer a wide range of options for your clients or customers to pay you what they owe. Some of these include credit and debit cards, PayPal, Apple Pay and so much more, especially if the payment is being made online. You need to look into total merchant services if you are not already using them, finding a company that can provide you with what you need.

The more options you provide, the more likely people are going to be to choose your business in the first place. It shows that you are willing to accommodate their wants and needs, which is massively important to customers.

Outsource Late Payments To An Outside Company

When clients or customers don’t pay you, you then have to spend time chasing them down. This takes a lot of time away from the other things that you could be doing which means that your business could suffer for this. So, instead of doing this yourself, a solution would be to outsource the problem to a company who specializes in this area. Do some research online and find someone who will be able to track late payments, get in touch with the clients, and work out a way to get you the money that you are owed. This may be through payment plans, or the balance in full.

Start Taking Payments Prior To Providing Your Service

Probably the best thing that you can do to prevent someone not paying for your service is to take payments upfront. Instead of providing the service and then getting paid, flip this on its head. At the very least, start taking a deposit that is non-refundable except in extenuating circumstances. The problem will decrease significantly which will be a massive step forward for your business. It’s true that there are going to be some people who are not going to like this, but they are more than welcome to go and find someone else to provide for them, as not being willing to pay a deposit at least is a giant red flag.

If clients are not paying, it’s because they think that they can get away with doing so. Your business needs to ensure that you are not allowing this to happen, chasing down every payment and putting policies in place to protect yourself. It’s the only way to stop this from happening, and you need to do it sooner rather than later.