You completed your latest plumbing project on time, sent an invoice to your demanding client, and are eagerly awaiting payment ... and waiting ... and waiting. Does this scenario sound all too familiar?
For any business, every penny counts whether times are good or bad. Probably nowhere is this mindset more prevalent than in the contracting industry, where low profit margins require contractors to protect working capital any way they can. Success, however, often depends on whether you have an effective billing and collection system. Without one, your cash flow can quickly turn sporadic and unpredictable, leading to a siphoning
