Tag: Payment Funnel
-
Construction Executive Risk Management Publishes Guide to Improve Receivables and Cash Flow
It’s no big secret that the construction industry faces payment challenges, and difficulties throughout the payment chain. When such a high volume of labor and/or material furnished on credit combines with the large number of parties on a project and the complicated payment structure tying them together, there are bound to be some hiccups. Payments become…
-
How A/R and a Lien Policy Work Together
A thorough Lien Policy can form the backbone of a strategic A/R collection plan. Implementing a lien policy can reinvent a company’s receivables, which leads to less bad debt and fewer write-offs. Getting Paid in the Construction Industry Is Tough Getting Paid in construction industry is harder than in most other industries. There are many reasons for this…
-
The Payment Funnel: A Step-by-Step Guide to Overhauling A/R
The Payment Funnel is an important, and useful, concept that can reinvent your receivables and lead to less bad debt and fewer write-offs. But, before the specifics of the Payment Funnel concept are discussed, a little bit of background on the problem we’re looking to correct should be provided. Payment Funnel Background: Getting Paid in the…
-
5 Reasons to Drop Demand Letters for the Notice of Intent to Lien
[quote style=”boxed” float=”left”]We have a secret about making demands for payment … the usual way is not always the effective way[/quote] Getting paid in the construction industry can be complicated and frustrating. We at The Construction Payment Blog believe in your right to get paid what you earn, but the best way to demand payment…