Sometimes clients just don’t seem to get around to paying you. When it first happened to me, I didn’t really have a plan in place. I let it go on too long, and resigned to not getting that money. I finally found a collections expert who helped me get paid, but I was not really happy with the way things went.
I believe that as a service provider, I am helping people. Some people just need a little help in moving your invoice to the top of the pile.
I recently ran into a business that I think is one-of-a-kind. It’s called ZenCash, and they are a cloud based, automated accounts receivable service that operates on a pay-per-use basis. This means there is no barrier to entry for small businesses or freelancers who don’t have a huge number of accounts going past due. Since it is free to sign up, I’d say go ahead and set things up so that when you get stiffed, there is a plan in place.
ZenCash integrates with several invoicing apps, including the one I use – Freshbooks.
So, what do I think? I like how it is easy to set up a process that can take action months down the road if need be. The system is simple to use. I also love that they can serve as a Collections Agency for invoices as low as $250. This makes it do-able for even the smallest of businesses.
One thing that I hope they will add is to specify criteria for actions, such as being over a certain dollar amount. I am sure it is probably in the works.
I also want to say I have talked over twitter with some of the founders, and they seem pretty legit. Good luck guys with the start-up!
Here is their overview video:
What do you all thing? Have any of you used ZenCash?