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Page 8 of 8
Credit Control
7. Working with Big Companies
Many start-ups, especially those selling services, find their early customers include big companies or public-sector bodies. Because getting cash in is so urgent for a small business you should be aware how different the culture of larger customers may be.
7.1 You need to know where invoices must go.
- Your invoice may need to be sent for authorisation to the buyer you deal with.
- Alternatively, invoices may have to be sent to the customer accounts manager or the bought ledger department.
- You may need to be on an approved suppliers list.
7.2 Large organisations may decline to pay your invoice until they receive a statement.
- Send statements as early as you can in the month, every month.
7.3 Your vital invoice may be gathering dust in someone's in-tray.
- Call the buyer to ensure it has been signed off and put into the payment system.
- Then phone the accounts office to confirm it has been received.
7.4 You must not miss a payment run.
- Many organisations will only pay invoices once a month.
- Find out the date and call a few days before the payment date to ask for confirmation that you will be paid.
