Monthly statement billing - Change for the new year
I'd like to announce a new billing process here at Real Estate Webmasters Inc for the new year.
As of January 1st 2017, we will be rolling out a new monthly billing process for all custom (professional service) departments.
What this means is this:
- We're eliminating variable / hard to track payment plans wherever possible
- Each month customers over 5 hours accumulated billing will receive an invoice for work that month (under 5 hours but not signed off will not receive invoices)
- Collections will be required inside of the next month
- Projects that are not up to date with their billing will be paused
Why this will help:
Timely updates: we want to do a great job updating customers on the progress of their work in project management, this process adds yet another layer of update so that you aren't just aware of the "progress" but also have a more current update on the cost to date / consumption of labor. It also allows us to identify any potential issues / questions early in the process inline with our agile philosophy of development.
Eliminate late bills: I'll admit it! Sometimes we bill WAY TOO LATE! Our current process is a bit cumbersome for reveiw, and with our volume there are times when projects have missed being billed or signed off. The customer remembers the project and knows it's done - but they don't get a final bill for a few months and by that time it's really inconvenient as they have all but forgotten about it. This is something I find personally very embarrasing, and I totally understand how it is inconvenient for our customers.
Scheduling: We are investing heavily in scheduling including the addition of a new master scheduler and a lot of growth in our project management department. By having current and accurate information on project status (including billing status) it will allow our PM teams to assign and schedule resources far more effectively.
From your perspective, there is nothing required to be done - this is just an informational update however if you have any question, by all means use the comment section below. Please look for this change beginning the first of the new year. We do hope you have a fantastic holiday, and look forward to an extremely successful 2017 together.
Morgan Carey, CEO Real Estate Webmasters Inc