1. Cash Flow Issues: Late payments can disrupt the cash flow, making it difficult to cover operational expenses. 2. Strained Client Relationships: Delayed invoicing can confuse clients and strain relationships. 3. Increased Administrative Burden: The longer you wait to invoice, the harder it becomes to track and manage payments. 4. Higher Risk of Bad Debt: The longer an invoice remains unpaid, the higher the risk of it becoming a _[bad debt]_.