How to Get Invoices Paid Faster

How to get invoices paid faster

While trading on credit terms brings several benefits to businesses, it also brings the threat of late payment, and you may need to dedicate time to ensuring you get your invoices paid faster.

Whether you offer terms to customers of 14, 30 or 90 days, you will almost always need to pay suppliers to fulfil an order in advance of getting paid. This means that cash flow can be tied up for long periods, particularly for companies which invoice at month end.

Similarly, this can leave your cash flow at the mercy of your customers. If they don’t pay on time, it can be challenging to manage the cash flow implications. There are, however, a number of ways to get invoices paid faster in order to improve your cash flow.

Hilton-Baird can work with you every step of the way to help you get paid sooner and maintain a healthy cash flow, either by introducing your business to the most suitable cash flow finance solutions as well as a specialist in recovering your unpaid invoices quickly and effectively.

Call our team on 0800 9774833 or request a call back to discuss your requirements.

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5 ways to get invoices paid faster

Invoice early and issue regular reminders to your clients
Use invoice finance to release funding against invoices
Work with a debt collection agency to recover unpaid invoices soon after they become overdue
Expand the number of payment methods you are able to accept
Include late fees in your terms and enforce them when invoices become overdue

Ensuring your invoices are paid quickly

Although steps you can take in house may improve the speed with which your customers pay invoices, bespoke funding facilities and solutions exist to specifically help businesses to get paid faster.

Invoice Finance

Invoice finance releases cash that’s tied up in unpaid invoices within 24 hours of their issue to specifically improve cash flow. Up to 90% of their value will initially be made available to overcome the cash flow gap between providing a service and getting paid, enabling you to pay suppliers and meet day-to-day commitments before you receive payment from your customers. The remainder, less the funder’s fees, is forwarded once customers pay.

Read more about invoice finance

Debt Collection

There is a range of debt collection services to help businesses get paid faster by customers and minimise the risk of late payment and bad debt. While outsourcing your credit control can improve collection times and give you back the time to focus on growth, debt collection agencies can also recover outstanding invoices from slow paying customers or non-payers.

Read more about debt collection

Why choose Hilton-Baird Financial Solutions?

With over 20 years’ experience as a commercial finance broker, we’ve seen a wide range of situations where businesses have struggled with cash flow as a result of trading on credit terms – and the complications of not getting paid soon enough by customers.

If you need to get your invoices paid faster or require support with your cash flow, we can use our extensive expertise to introduce the most suitable solutions for your specific requirements.

Wholly independent and regulated by the Financial Conduct Authority, we work with businesses to improve their cash flow every day.

To discuss your options in more detail, call our cash flow specialists on 0800 9774833 or email request a call back.

© Hilton-Baird Financial Solutions Limited
Registered in England and Wales. Company Registration Number: 03832884. Registered Office: 110 Cannon Street, London, EC4N 6EU
VAT Number: GB 182 5699 66. ICO Number: Z7220067

Authorised and regulated by the Financial Conduct Authority (FCA number 730445)
We are a credit broker and not a lender and offer credit facilities from a panel of lenders

We work with a panel of commercial finance providers and are typically remunerated by way of commission. The structure and amount of commission we receive varies between products and based on the facility. Further details are available on request.

How to Get Invoices Paid Faster