Beginning the new year comes with its own challenges, and construction is certainly no exception. At zlien we're here to make your new year as seamless as possible. Here are 3 bad habits to do away with in 2018.
1. ONLY SENDING NOTICES ON PROBLEM PROJECTS
Here at zlien we promote sending notices on all jobs. Perhaps most notably because preliminary notices both prioritize your payment and protect your lien rights in many states. In addition to this, sending these documents benefit all parties on a project as they increase both visibility and collaboration between all the parties on a project. In short, being proactive on all jobs is an important way to make sure the other parties know you are on the job and that you are in a protected position on all your projects.
Not sure where to start? Entering projects and any trigger dates early is a great way to ensure you are on the right path to tracking deadlines and protecting yourself on all jobs. To help keep your postage costs the same, try exchanging your voluntary notices electronically using the Document Inbox. You can even send your required notices electronically in addition to in-mail.
- How to Make Document Exchanges Better for the People You Work With
- Best Practices for Sending Electronic Documents in zlien
2. SENDING INVOICES LATE
The construction industry is not exactly well known for paying quickly, and holding onto your invoices for long periods of time does not help this; furthermore, sending invoices early is an effective way to deter late payment. As such, you should strive to invoice your customers immediately, as this will speed up the payment process for both you and your customers.
Have trouble keeping track of invoices? You can easily add and track invoices through zlien.
3. AVOIDING LIEN WAIVERS
When used correctly, lien waivers provide benefits to all parties within the payment chain. The benefit to the paying party is clear as these waivers protect from both double payment and unfair mechanics liens; however, sending waivers with every invoice is an effective way to gain trust and speed up payment if you are the billing party. As such, it is a good idea to exchange lien waivers with every invoice.
Having a clear policy on how these waiver requests are handled is an important company decision. If you need a refresher on sending lien waivers, we’ve got you covered.
Change is hard, and change when it comes to collections is perhaps even harder; however, these three habits should be the first to go when reevaluating any policies for 2018.