For many engagements, we required both an upfront deposit and invoiced payments every two weeks. In addition to the benefits you guys cited, billing often can a

For many engagements, we required both an upfront deposit and invoiced payments every two weeks. In addition to the benefits you guys cited, billing often can also help manage scope creep - though I know some agencies thrived off the additional income from change requests. I agree that it's possible to build a roster of clients that always pay you, but when you start casting your net wider (which we did), you encounter a greater variety of clients. We grew to a team of 20+ developers and aimed to keep our pipeline near 100% utilization. With that said, we only had a handful of clients that didn't or couldn't pay. This was early in our existence and we learned quickly how to avoid, and dump, bad clients.