00:31:17 Ray daSilva: Does anyone send a pre-invoice confirmation of charges? This can help to eliminate delaying tactics by confirming the details of an invoice and backup documentation before even sending the invoice. 00:31:50 Charles Stewart: The IAM Issue Resolution System 00:32:45 Shankar Ram Ganapathy: Replying to "Does anyone send a pā€¦" This is almost become a mandate nowadays where we do send a Pro-Forma invoice to take confirmation before sending the actual invoices . 00:33:34 Ray daSilva: The number of days is important but so is understanding the terms of invoice recognition. Some clients will not recognize an invoice until shipment delivery and submission of signed receipts. This can stretch out payment terms considerably. 00:34:54 Julie Romanis: Replying to "Does anyone send a p..." Biddulphs do not send out pre-invoice confirmation of charges. We invoice and follow up after 30 days to approved agents. Clients pay upon receipt of invoice prior to shipping. 00:35:17 Charles Stewart: Alerts System 00:37:44 Ray daSilva: Replying to "Does anyone send a p..." The issue can be waiting 30 days only to have the partner say "Oh, you did not send the invoice in the right format. Please resend." Now, 30 days have passed. 00:38:04 Purnima Parmeshwaran: Reacted to "This is almost becom..." with šŸ‘šŸ» 00:40:58 Julie Romanis: Replying to "Does anyone send a p..." Biddulphs have a follow up system in place, that invoices are followed up every 30 day and prior if necessary. 00:42:22 Ray daSilva: Anyone using prompt payment incentives? Pay your invoice within 20 days of receipt and get a 3% discount? 00:43:23 Shankar Ram Ganapathy: Is a certain percentage rebate for an early payment than the credit terms becoming a new norm nowadays ? Does anyone come across this from any one? 00:43:51 Bogdan Petrea: Replying to "Anyone using prompt ..." yes popular solution in europe 00:44:03 Shankar Ram Ganapathy: Reacted to "Anyone using prompt ā€¦" with šŸ‘ 00:45:08 Julie Romanis: Replying to "Does anyone send a p..." The problem comes in when extra costs occur and the agent or clients disagree and do not want to pay. The only option then is place a hold on the shipments until the payment has been received. This seems to work. 00:49:01 Ray daSilva: for example: 00:49:31 Francis Rodrigues: Replying to "Does anyone send a p..." We do send a proforma invoice in advance tp get a confirmation on the billing before we proceed. Save a lot of time sorting out minor issues later and stretching the payment cycle 00:49:43 Janet Turner: I've been on a webinar that is was discussed asking for more than a 30 percent deposit sets up a red flag here in the usa 00:50:52 Ray daSilva: For example: Pay this invoice by May 5 - Take 5% off this invoice. Pay this invoice by May 30 - Pay invoice net. Pay this invoice by June 30 - Pay invoice plus 5%. After June 30, Pay this invoice plus 5% per month. 00:52:00 Mark Oakeshott: Who you do business with is in the hands of each company. Moving companies need to build in the cost of cash into their rates based upon those payment terms. 00:52:48 Charles Stewart: IAMTrusted Moving Company Designation 00:53:12 Verena Goetz: Reacted to "IAMTrusted Moving Co..." with ā¤ļø 00:53:20 Purnima Parmeshwaran: Reacted to "IAMTrusted Moving Co..." with šŸ‘šŸ» 00:54:36 Shankar Ram Ganapathy: Extended credit terms is also becoming a sales tool nowadays in partner businesses . More of an indirect tool which Ray mentioned in his example. At the end of the day that becomes the decision of the company on how they want to run their show based on the cash flow. 00:55:01 Julie Romanis: Replying to "For example: Pay th..." HI there, The power at our offices is being interrupted. 01:03:34 Charles Stewart: Amazon.com: Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine: 9780735214149: Michalowicz, Mike: Libros 01:05:14 Charles Stewart: Check out IAM's Alerts System. Stay Informed, Stay Ahead, Stay Protected. 01:16:11 Shankar Ram Ganapathy: Thanks to IAM and the panelists for this . Very informative and great session. Looking forward to catch up at the next informative session . Need to catch up another call . Wishing everyone a great working week ahead ! 01:17:06 Mark Oakeshott: Remember there is a reason that a booker is stretching their payment terms. The recent example of Paragon will be repeated. Revenue is only revenue when it is paid. 01:20:51 Julie Romanis: Thank you IAM and the panelists. 01:21:16 Mark Feinberg: Thank you!