All businesses rely on steady cash flow to keep their company afloat. When that cash becomes stagnant, the company can’t pay its bill or its wages, which will ultimately lead to bankruptcy.
While businesses would prefer to get paid upfront for their products or services, many have to rely on billing clients with invoices that will be paid at a later date. Unfortunately, invoices can sometimes go unpaid, and that leaves a company vulnerable to cash flow issues.
Some invoices remain unpaid simply because the client doesn’t have money, but in many other cases, it’s actually the vendor and its invoicing techniques that are at fault. Be sure to review an invoice example to make sure your invoices contain the right details and information.
Due.com conducted a survey to find out why some invoices get paid while others don’t. The infographic below highlights their findings and offers some tips on how you can improve your invoicing techniques.