If you deal with large organisations, what you will notice is that currently, their payment is now all over the place.
What has been happening is that their payable processing cycle works by the accounts department getting a bill from you. This bill is then passed by them to the relevant department to match your quote, review that your work been done and to approve the payment. Once they get that approval, then they schedule a payment to you. As it is this schedule can take a while.
However, what been happening now is that in this current crisis, this procedure is not working, mainly as some key people are not at work. It only takes now one guy and suddenly this cycle halts. The accounts department will not pay until the cycle is done, and they have approval. I also suspect that everyone is looking for an excuse to delay payment anyway.
We are now suffering from big organisations taking even longer than before to pay.
If you have a solution to this problem, please share as we all need an answer.
One of my clients is attaching this note to his bills.
"Please take care of this invoice and clear the payment because we have also the cash flow issue and also can't get jobkeeper due to Government policies. So we have to pay salaries to our staff and we need the cash to clear the salaries.
Hope you understand and clear the payment soonest."
