Doing so will increase your chances of achieving a positive cash flow. Most said that you're also better off if you charge annual instead of monthly fees. Many said the average discount given to consumers who pre-pay for a year of service is 10 percent, but some comapnies give more hours or extended service instead of a discount. Other CEOs disagreed, saying that if you charge less for an annual account than for a monthly account, the monthly account is worth more to you. Payment books can cost as low as 12 cents per year per customer and can reduce internal billing costs.
Late fees can be a great income booster.
Consider charging them for those who don't pay their bills on time. Remember, a late payment is like an interest-free loan and is not good for business. Nevertheless, using your telco will decrease your in-house billing costs. HR Issues 85 percent say that they let have no dress code. 15 percent pay their inside sales team a commission.