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Additional Details
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sun482 | How to ask a BIG client to pay? |
My company did a project with a big and reputable client but they have yet to pay a single cent for this project. How may I persuade them to pay up without soaring the relationship? I'm expecting more projects from them, but I just need them to pay up!
Additional Details
We normally ask for 30% deposit before we begin any project, but since this is a big client, we forgo the financial formality. Now that the project is complete, there are still requests for changes, etc. Should I tell them that we won't perform these changed until they pay up? If yes, what's the best way to convey this? |
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ImAPQler1
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I empathize. I also am in sales, in an industry that requires a 33% down with order. I also know the sensitivity of a big potential client.
I do it this way. I call the person I have been dealing with, who usually is influential in getting the payment processed. I start with the normal pleasantries an and "how's the family" and all that.
Then I get to the point and tell him how I have the dogs (accounting) barking on my end - and that although we made an exception with policy - I really need your help on this.
1. Do not sound desperate for the money.,
2. Do not sound demanding at this point.
3. Be firm - but put some levity in the conversation like "the natives are hungry and getting restless".
Ask if there is someone he can direct you to, or better yet can he start the ball rolling.
Then - let him know that out of professionalism, you will follow up with an email to him requesting the payment. Like:
"Hey, I'm not trying to hound you on this, but you will see an email come through asking for payment - just so I have documentation of the time frame".
Hopefully that helps. |
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Sqweegee
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Call and tell them that your records indicate that there account is not up to balance, do you know when your scheduling the payment due of amount so and so?
Good luck and take care. Maybe next time you get your deposit first. |
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Crypt
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What does your contract say about the payment schedule? |
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TRAIN HARD LIVE WELL
 |
Pick up the phone and say "I was wondering when we would receive payment for the project" |
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mrs
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write a formal letter stating politely the favor you already did for them by not asking for the deposit. also include an attached itemized bill. i was a paralegal working on a million dollar case. after 18 months, they hadn't paid a cent. i had to be a little blunt. they understood, and we got our money. |
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NeoNerd
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Be honest with them - If they don't pay, then you wont perform until paid. It's not a good start to a business relationship if they think you'll take non-performance from them. |
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everythingspeachy2000
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How can you own a business and not know how to ask for your money? He is probably waiting for a BILL! SEND IT!
I would write a letter and state that the project was done and even though there are changes the amount stated so far is due. Tell him you are working hard to complete the changes and a if any other costs are due you will bill those extra's later when the project is done. Let him know you are happy to have his business and you will look forward to other projects together. |
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Robert T
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Quit second guessing your self and demand in a diplomatic way what you have earned . Leins are how they would do you! It's their reputation but It"s your food ,clothing & shelter. A dialog is then on a real basis . Right now the principals are ignoring or don't know what acct. payable are doing. Copy your billing to the principals prior to confronting. Use your mind there are a lot of avenues leading to collection and maintaining the business relationship. |
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John M
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NeoNerd's answer gets my nod: honesty is the best policy. "Say, BIG client, it's great doing business with you, and I want to continue our relationship, but I'm a bit strapped for capital right now and haven't received your payment for that big job, my friend." |
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The Fluff
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If you have billed them for any work to this point, then yes, ask them if they received the bill or invoice as a nudge that you expect a payment. If not, prepare to bill them as soon as the current changes are made. Its not likely they'll pull the job from you but may feel the obligation to pay something to get the job completed. |
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the Zero Dragon
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Bring it up in passing, for example "Where should I send the invoice?", or "which method of payment works best for you?". Once the subject has been brought up, stay on it, politely but firmly, until a time or payment schedule is made clear. If they miss payments, don't hesitate to bring this to their attention. They may be a big client, but this doesn't mean they are not going to stiff you. |
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JohnGalt
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Several lessons here, but first....
Dealing with this is always tricky, but it comes back to the relationship. I assume you have sent invoices and allowed sufficient time for them to clear. Call accounting first, and ask status of getting paid on invoice # xxxx. . If they do not know, work your way backwards towards person who you sent invoice to, or who approves the invoice. Treat it as a simple bookkeeping problem until you know otherwise.
If you get back as far as your client and they are sitting on the invoice, explain that you are a small operation and need to get paid. If they want to hold money over your head until completion, negotiate a smaller payment, maybe half. Or all but last weeks work. But ask for a check the same day or with next check run, not in another 30 days. Be nice but firm. DO NOT threaten them or stop work, just treat them like professionals and expect that they will treat you the same way.
It is very possible this was YOUR fault. Big companies have procedures, and if you sent invoice to anyone besides acct payable dept it may just have gotten lost. I can give you ten other procedural reasons why it is your fault. When dealing with a big client, part of my discussion before starting work was: Who do I submit invoice to? How long does it take from receipt to payment? Who has to approve it? Do I need a PO number in order to get paid? Can I invoice you for interim work? Weekly? Any secific info that needs to be on the invoice? DO you need a W-9 from my company? How quickly can I get a deposit? Do you pay quicker if I give you payment terms (like 2%-10 days)?
And plan for this better with future projects. Once you clear up these misunderstandings, it makes the next conversation about deposits or weekly invoices easier. I always demanded a deposit from any client, ESPECIALLY the big ones. Until you have a check, you may not have a real client. Often low level managers will do things that they are not authorized to do. By getting a check, I know that someone with authority to pay me has approved the project. |
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Michael L
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Your problem is not uncommon. Companies are taking longer and longer to pay their payables these days. 30 days 6 months ago is turning into 45 and 60 days today.
Can I suggest financing your receivables? It is a common practice that is used to free up your A/R into real cash. You can receive cash without souring your relationship. A win win situation.
Send me your contact info and we can discuss your needs. I'm a receivables financing broker, we do all kinds of commercial financing.
It can't hurt to have the conversation...
Here's an article for you to read..
http://www.merchantcircle.com/blogs/Top.Group.Capital.Corp.LLC.772-546-7190/2008/10/The-Credit-Crunch-Solutions-for-Small-Businesses/125817 |
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Robert S
 |
Big companies don't get big by being run like a charity.
Individual managers can hide behind the corporate skirts.
I used to work for a major bank, which also hired private contractors.
They were notorious for being late payers, to these small guys.
You need to spell out terms of payment, don't be awed by their size.
I suggest putting a line in the invoice such as:
"Amount due when invoice rendered, interest penalty 2% per month."
They won't treat you seriously if you don't act tough.
Otherwise, they'll withhold payment to extract extra concessions. |
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PJ
|
Call their Accounts Payable Department and ask for payment on all invoice more than 60 days old. Get a promise of a date of payment. You have employees to pay and bills to pay. They can't expect you to work for free.
If you do not receive the payment as promised, then refuse to do any more work til you are paid, and inform them if this problem persists you will put them on COD. |
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Sophie B
 |
Assuming that you invoiced them for the work, and the invoice stated your payment terms....
You call them up, say you are from "accounts recievable" and when will we see payment.....
Then you put them on "double-secret probation" and don't do any further work, until they pay the bill
A "big company" isn't a "good" customer, unless they pay their bills on time.... |
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i'm watching washinton d.c.
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Just be diplomatic, say in Person, look Mr Jones i know you were satisfied with our work, and i understand you have even more for us, as you have some change requests in the works, but im sure you must
not be aware of this,but we haven't been paid anything on this project to date. Our usual procedure is a minimum of 30% upfront, in your case we did forgo that policy, because i intend to keep you very happy
doing all your future projects,but we really in these financial times are
strapped as is everyone else for CASH, in order to even move forward
on the changes, i have to pay my guys so would you handle this for me
and im sure its an oversite, and hate bothering you,but im sure you
you understand my prediction, and thanks |
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McDaniel
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Say you got my bread bee-yaatch!!! Pay me or all hell gonna break loose!!!! |
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Steve T
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If you sent them bills, you need to call and be direct with them. Get answers. They are probably deliberately withholding payment because it gives them power over you. |
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Ricky J.
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Here's what I do with the larger clients in this situation.
Give them a call and ask to speak to the cfo or accounts payable manager.
"Hi I'm so-n-so with blahblah corp. How did things workout with the last project we did for you? I hope everything was satisfactory. (casual banter),, Here's why I'm calling. I noticed that we haven't received payment for the last completed project and I was wondering if your people received the invoice at all as I'm not sure that it's been sent."
Let him track it down and usually this gets the ball rolling and the check in the mail.
The whole time be pleasant and casual. You know like on the golf course with the boss.
At the very least you'll get to the crux of the biscuit and secure a pay promise. At best there was just a hiccup in accounts payable and all will be corrected.
Good Luck. |
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Hilander
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Couple of things to consider are:
- their stated payment terms versus your requested payment terms
- how many days payment is outstanding
Sometimes when large companies issue a PO, their Ts & Cs differ from what you may have requested and simply by accepting their PO, you've accepted their Ts & Cs. So, you're Net 30 days might actually be Net 90 days according to their PO.
If, however, that doesn't factor in to this problem, you really need to (a) talk with your Primary PoC (Point of Contact) to understand what the issue is. Act strong and forceful without being angry or rude. Find out if it's an issue with their Finance Department or somewhere in between. Offer your services to provide whatever assistance they need to rectify the issue.
Ensure they understand how their lack of payment affects your capability to support their issues. |
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roritr2005
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Send them an invoice that states the usual policies and kindly but firmly states their delinquency and give them a deadline in which to pay it. Just because the person you deal with is asking for changes, they may not know the accounts payable department hasn't paid you yet. In addition, some people/companies like it when you stand up to them when they are big. Shows good business practices in their eyes. You know this person better than we do so it would your judgment in that case. Good luck!!! |
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Freckles
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If this is too touchy an area for the accounting/billing department to handle, I'd wait until the next face to face with the client. If you are the "go to" guy they have been working everything out with, then you could put it to them like this:
"As of such and such date, we have completed these projects (list all jobs done etc) and assuming all financial transactions will be handled as of (give a finalized date) -the requests for changes, etc. can begin as soon as the downpayment and the project are paid in full. If there are any concerns or problems with the afformentions fees, now would be the time to bring those into light. Moving onward..." |
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techan9ne
 |
find you local gang and hire them to beat him up until he pays like in the movies |
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Masuyo
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Did you have them sign a contract? I believe you should have put this in the contract at the beginning to make sure you get paid on time. But a friendly e-mail reminder shouldn't hurt. Something along the lines of sending a completed "invoice" maybe? |
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Nunya B
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Pick up the phone. Call your contact and pass it off as a follow up on your completed work. Ask if they were pleased with the results. Since they got the wanted results, I am sure you will be fine. At that point ask them if they have received you invoices. If not, nonchalantly ask for their billing address or contact and that you will have them forwarded right away. End the call by saying you were glad to assist and look forward to working with them again in the future.
Don't go into details about your 30% upfront. Save that for a follow up if they don't respond to your first inquiry. |
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randall flagg
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Invoice them. If you already have, call them and ask to talk to the financial department and ask for your payment. Usually big companies have someone just to deal with that. And it probably won't get back to the person you deal with every day. |
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Pkr
|
Well all of this should have been put in a contract before the work started, have they breached the contract by not paying so far, do you even have a formal writtent contract or was it all verbal?
I would possibly suggest speaking with them advise them you are happy to make the changes they require but as a small company you need to cover your overheads and perhaps they could at least make a part payment towards the project.
If you cannot reach an amicable arrangement you may have to become more formal, consider whether they have breached the contract. If they have only agreed to pay when the project is complete to their satisfaction then you would be obliged to finsih the modifications first.
If they still do not pay when the project is completed you will need to send them an invoice asking for payment within say 7 days if they do not reply send another and follow up with a phone call. If this still is not resolved you may need to engage debt collectors or consult a solicitor/lawyer |
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Tell Your Girl I Say Hi!!
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I never have a problem usually I say, ***** where's my money, don't make me send my goons over there to collect. Substitute ***** with sir and goons with lawyers and it should work. |
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Sahara
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I understand the dilemma but you need to be paid. I would ask for a reasonable fee before any additional changes are made. Tell them your hands are tied. Blame your accountant or whoever pays the bills.
You deserve to be paid for the work you've done. Be kind and firm. If they leave because of it, what kind of client were they really? You want big paying clients. Tell them what you have done for them. Just lay it thick. Be professional and fair. We've done this, this, and this for you. We have not been paid at all. We need a payment to continue work. How soon can that be arranged? |
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MMM
 |
If you have a contract and they are in default on the payments, you can legally begin to charge interest on the late payment. I would definitely refuse to do change orders or extra work until payment for the original project is paid in full less retainage.
A nicely worded memo to this effect is very persuasive. If it isn't, and you are a contractor, a threat to lien their property is usually conclusive as far as payment goes. By law, labor and materials must be paid in full and you will win if it goes to court unless the work is defective in some way.
When will people realize that contactors aren't going to finance or fund their jobs for them during a recession? We require full disclosure of available funds (allowed by law) and if the job exceeds $100,000, then we require the full amount of money for the job to be kept in an escrow account for draws laid out in our contract. We don't lift a finger until we see green! We also now keep our clients on a very short leash--all our contracts have very short turn-around time on draws and our subs must be paid in full within 5 days of being invoiced. If the money stops flowing, someone's roof doesn't get closed up until checks start moving again. We've had it with cheap no-paying somebodies.
I don't care how big the client is. They need to pay if you've done the work. Period. If they don't pay, what good are they to you? |
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