The risk of project business most of the time is on payment issue. I have no doubts of my sales skill to the corporate world but during this economy turmoil & price hike situation, I encountered a few corporate clients who had failed miserably to pay us on time. And in this situation at times, I am stucked in the middle in between the client & my management.
Many occassions, big project requires credit terms. Many of my projects that I am involved now, I stressed to customers that I need at least a letter of credit (LC) or bank guarantee in order to avoid payment issue in the later stage after we supply. At the moment, I have two corporate accounts which are dragging the payment and I had already played my part to chase for these payment in, this 2 particular accounts had been dragging for more than 120 days and I always have to face gruelling sessions during the management meeting as they are doubting my credibility now as the head of the department.
The bad paymasters however only acquire 10% of my total sales for the company. Because of this 10% sometimes, my company made assumption as if I am not doing my job. In fact, myself & my junior had tried our best. The management does not however look at the 90% successful transactions with flying colors. Why? I really hope that by this month I can clear all this pending payment issue and close the accounts ASAP.
The moral of the story; for corporate & commercial sales at this moment, do require a LC or bank guarantee before signing off the project no matter how big is the company. This is essential especially time are bad.
I am facing the management again in less than 15 minutes, and I want to end the day today soonest possible. It is unnecessary stress on a Friday for me. God bless & I had my ass gel-led already. Wish me luck!!!!
Happy weekend to all!!!