The thing that gets very least attention but is very crucial or rather indispensable for any firm must be the invoicing. This may seem like just another back-office formality but it is even the one that is responsible for the revenue-generation. After all, paying up is the ultimate client interaction.
A lot is said about the benefits of hiring executive search companies for organizations around the world. We have seen the executive search companies from outside the façade. Not much is written about what these executive recruiting firms look like from inside.
Executive recruiting firms have a lot on their plate such as setting partnership with clients, HR policies implementation, preparation of quarterly taxes, website creation, brand finalizing, and business cards designing.
If invoices are not paid attention to, there is a high risk of payments getting delayed and loss of business due to confusion prevailing. For a long-term relationship, it is all the more important to maintain a seamless experience. It acts like a survival skill in the world of business.
The fundamentals for the executive search companies must be:
- Individual’s name, firm’s name, and the billing address
- Client’s name, name of the client’s company, contact address of the client
- Date of invoice, due date upon receipt such as net 30
- Number of the invoice
- The description of services and their cost
- The extra fees which will be incurred by the customer
- Clauses for non-payment and late payment with an exact definition of the non-disclosure agreement.
- Online client payment options along with addition of anything that will make the client experience an easy one
The recruiting firms must always make it a point to deliver the invoices well in time. The other factors to be kept in mind when delivering invoices are:
Prompt delivery of invoices: It’s advisable for the search companies to deliver the invoices before the due date to avoid any unnecessary complication in the later course of time.
Consistent delivery of invoices: Go by the billing standards of your company. Inconsistency looks like the lack of discipline and ethics on part of the organizations and can even harm the reputation in the long run. Nobody likes a bad reputation.
Professional delivery of invoices: A clear heading and brief introduction to the work for which invoices have been generated is a great way to make the process smooth. If an email is carrying the invoice, a follow-up email with invoice copy and the date of the first email is all the more important to avoid any hassles.
There are many invoicing tools which are available for perusal by the recruiting firms. It reduces efforts on part of the clients as well as the search consulting companies. Paying for hiring and recruitment is not what the organizations want to do even when they are already paying for the salaries of the executives. For the search companies, it becomes convenient to pay attention where it is required the most- hiring the executives.