LONDON, 6 January 2022 – Chaser, the global accounts receivables automation software and credit control service provider, has a good reason to celebrate the start of 2022: it has achieved the milestone of helping users chase and recover $10 billion in late payments. This is aligned with the company’s mission is to help businesses worldwide get paid in an efficient and friendly way so that they improve cash flow.
Chaser enhances the way that businesses chase unpaid invoices and makes it easier for customers to pay their suppliers. Using the end-to-end accounts receivables software Chaser, businesses can schedule, track, and chase invoice payments automatically, until payment is received. On average, 48% of invoices are paid late every month (Xero and Paypal, 2019), which causes difficulty forecasting, cash flow strains, stifling business growth, and hours of employee time spent following up on overdue payments. In fact, 30% of businesses believe late payments are affecting their ability to keep their business open (Businesswire, 2021).
Businesses using Chaser to manage their accounts receivables have seen results such as recovering $26,600 of late payments from customers in just 30 minutes, getting invoices paid an average of 54 days faster, and saving over 15 hours per week on receivables tasks. See more Chaser user stories here.
This signifies a huge step towards helping businesses reduce the late payments that cause cash flow strains and business failures year after year. By adopting a structured accounts receivables process and using an automation tool like Chaser, businesses globally can improve their cash flow and reduce the risk of late payments to their business.
“Reaching $10 billion chased in late payments represents a huge milestone for the Chaser software and Chaser users. By using the software to manage the accounts receivables process end-to-end, businesses are able to efficiently and effectively follow up on their invoices, reducing late payments and improving cash flow. Chaser is continuing to develop more features and functionalities to help businesses worldwide automate their processes and put an end to late payments, and will be launching SMS chasing in early 2022 to support users further.” – Sonia Dorais, CEO of Chaser.