Customer Hasn't Paid us - Follow up

I made a post last month about a customer who we found out hasnt paid us in over 3 years, and wanted to follow up.

Peep the last post for full context but:

• we found out a customer had not paid us for the last 3 years, and it was not on purpose, we forgot to bill them.
• they are a happy customer and we want to keep them and they want to stay with us.
• I was asking the War Room how they would handle it.

Here is what ended up happening:

• I made the suggestion that we reach out and set a meeting to talk about the situation.
• During the meeting let them know we need to send them an invoice for the missing payments and for the upcoming renewal amount.
• To me the key was to bring it up in a non confrontational, chill way.
• Our senior leader was the one to have the call, not the CS team (responsible for renewals) or myself.
• They did not have an issue with making the back payments but asked for a different amount (lesser amount) for this year because of budget constraints.
• we were able to do that, and they are now under contract again going forward.

We did not offer a discount, and we did not eat the cost. Not saying this is how everyone should handle this but I really like how we handled this.