In my humble opinion, an invoice is not a marketing tool (although it does reflect a lot about you). Your invoice should be easy to read, with clear instructions as to who has sent the invoice, to whom, for what, how much, how to respond, and when to respond by.
Your invoice should be on a quality paper, in a quality envelope, with no extra padding, such as sales literature etc. If you have a change of company or payment details you need to do this in person over the telephone first and then confirm in a letter to a named individual in the relevant department.
Invoicing should be a priority in all businesses. The invoice should follow 'hot on the heals' of delivery or service.
The '72 Hour System'
The '72 Hour System' is a 'bench mark' for efficiency and effectiveness. Do you know of companies that:
*send invoices out 30 days late * send invoices out 2nd class * see invoicing as just administration * consider credit control as a junior post * or indeed, have no system!
I know of many such companies, most still survive, however, I am sure their profitability is a lot less than they could achieve.
24hrs - Day 1
Customer receives goods/service
48hrs - Day 2
Credit Control/Sales Ledger Department on receipt of delivery note or purchase orders etc. raise and send out the invoice without delay by FIRST CLASS POST
72hrs - Day 3
The customer receives the invoice
Invoice Discounting
Invoice discounting is a service that allows a business to claim instant finance (usually up to 90% of total invoice value) on outstanding invoices. Click the link above for further information.
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