Hello everyone!

[DueCourse]

Hi guys,

My name is Lois and I am working for a startup company called Duecourse. We are based in Manchester and have just moved into our new office here. We are hoping these forums will give us some great advice to improve our business and also we would love to help others by sharing the issues we face and experiences that we go through.

DueCourse is on a mission to make sure that small businesses get paid on time.

Lois (DueCourse)

 

[HFE Signs]

Hello and welcome Lois

 

[auctionfactory.co.uk]

Hi Lois,

Welcome, sounds like you're on a noble quest to improve small business cash flow!

 

[TheBannerWarehouse]

Hello and welcome

 

[DueCourse]

Thank you everyone!

Have any of your businesses struggled dealing with late payments?

Lois

 

[TheBannerWarehouse]

In some cases, how do you help?

 

[DueCourse]

DueCourse allows you and your customer to agree on a payment schedule before you start work, ensuring you receive payments straight into your bank account by Direct Debit on the agreed dates. We also provide a flexible billing system - so you can adjust your payment schedule with your customer. This works well if you extend a project, add more work with a longer deadline for a higher cost.

Lois

 

[TheBannerWarehouse]

This would probably only work for clients which don't intend on payment within 30days which most customers will suggest that they will be paying within the 30day period.

 

[DueCourse]

In our research, a lot of companies paid late even with the 30 day period and our company enables a deposit to be paid upfront, say 50% then the rest to be paid on completion, depending on the agreement. We also allow visibility on scheduled payments so you can see exactly when the money will be entering your account so can keep on top of your cash flow.

Do you think this would be something that would work or have any suggestions how we could improve it?

We would love to hear your feedback!

Lois

 

[TheBannerWarehouse]

sounds interesting but i'm not sure why in that case you couldn't just set you invoice to be 50% upfront and the rest on completion by ..

 

[DueCourse]

It would appear to be that simple but a lot of companies tend to "misplace" an invoice, in which case needs to be sent again which delays the process of payment. With DueCourse all invoices are stored online, reminders are sent and the money automatically comes out on the agreed date.

Lois