Name: Effective Communication
Based: Cardiff
Website: www.effective-communication.co.uk
I think the majority of professional services companies invoice for retained work at the end of the month. We invoice on the first of the month as we start the work, and get paid on the 31st - as the work is complete.
Otherwise, you invoice after the work is done on the 31st and don’t get paid for another 30 days when you have done another 30/31 days of work. It’s very rare for a client to object to this.
Similarly, we will phase the invoicing for a large project and/or give clients the chance to pay in installments. So, the clients like this because it avoids a spike in outflow while we like it because regular cash keeps coming in. Everyone’s happy!
Alastair Milburn is the managing director of Effective Communication.
