Milestone billing revolutionizes payment structures by connecting invoices to completed project deliverables rather than fixed schedules or end-of-project billing. This approach not only improves cash flow for businesses but also ensures that clients are billed at key stages in the project, aligning payments with actual work completed. By defining clear milestones and a payment schedule at the project outset, teams can effectively manage progress and financials, facilitating smoother operations across various industries. This guide also includes tools and templates to streamline the implementation of milestone billing.
Milestone billing allows invoicing tied to specific deliverables, ensuring timely payments as projects progress rather than waiting until completion.
The process involves defining project milestones, creating a payment schedule, and invoicing clients upon completion of each milestone.
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