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The initial funds were wired immediately after the contract was signed. For those who are new to enterprise sales and reading this - this is highly unusual for
by statictype 11y ago
The initial funds were wired immediately after the contract was signed.
For those who are new to enterprise sales and reading this - this is highly unusual for enterprise sales.
Be prepared to waste many man-days chasing after payments to be payed and expect months of delays in receiving them.
The larger the contract the more the delays.
That's the nature of the game
- syedkarim 11y agoTo clarify, I would not call this a typical enterprise deal or typical enterprise customer. I agree completely with you--closing a big deal is one thing, getting paid for it is quite another.
- danieltillett 11y agoIt is amazing what not giving the customer the product until they have paid does for speeding up the payment process. I have yet to have a customer who can't manage to get the bill paid when they really want the product.
- statictype 11y agoIn large enterprise sales, you would typically structure the payments into various milestones. You may be able to invoice the first one before you actually give them anything but there is a vanishingly small chance of collecting the full payment until well after the product is deployed, probably in-use and occasionally after demands for features that were not agreed upon have been delivered.