There are many benefits to taking upfront bookings/payment over invoicing.
Some of these benefits include:
- Improved cash flow: Upfront bookings/payment provides immediate revenue, which can be especially helpful for businesses that operate on thin margins or have variable cash flow.
- Reduced risk of non-payment: By requiring upfront payment, businesses can reduce the risk of non-payment or slow payment, which can be a major problem for small businesses.
- Simplified billing process: Upfront payments eliminate the need for invoicing, which can be a time-consuming process. This can free up time and resources for other tasks.
- Increased customer trust: Requiring upfront payment can improve customer trust, as it shows that the business is confident in its product or service.
- Improved budgeting: Upfront payments provide businesses with a clear idea of their expected revenue, which can help with budgeting and planning.
Overall, upfront bookings and payment can provide businesses with a number of benefits, including improved cash flow, reduced risk of non-payment, and a simplified billing process. Make that change now!