5 billion paid to businesses
An image showing that 5 billion has been paid
LONDON, England, October 11, 2023 (Newswire.com) - Chaser, the leading global accounts receivables platform and credit control service provider, has successfully helped businesses collect over USD 5 billion in 2023. This accomplishment highlights Chaser's commitment to helping SMEs worldwide get paid in an efficient and friendly way so that they improve cash flow. Chaser's software allows businesses to conduct credit checks, monitor debtors, chase outstanding invoices via SMS and email and collect payments, all to ensure timely payments.
Late payments are a growing concern, as highlighted by Xero's data from 2019, which reported that 48% of invoices faced payment delays each month on average. By 2022, Chaser's late payment report revealed that this number had jumped to 87%, affecting nearly nine in 10 businesses.
Late payments pose a significant threat to businesses, especially small and medium-sized enterprises. These payment delays can trigger cash flow issues, causing unexpected costs and even the risk of insolvency.
Reaching this target is a significant milestone and an essential step toward achieving greater financial security and stability for businesses worldwide.
“While helping SMEs collect USD 5 billion so far in 2023 is a fantastic achievement, Chaser’s mission remains the same: to support SMEs worldwide to get paid in an efficient and friendly way so that they improve cash flow,” said Sonia Dorais, CEO of Chaser. “As we move forward, Chaser remains dedicated to continuing to help SMEs reduce late payments, and we are continuously enhancing our software and solutions by introducing new, AI-driven features that make timely payments even more effortless.”
Chaser is committed to helping businesses succeed through the introduction of new and innovative features that make it easier to get paid on time, including:
- The late payment predictor - This feature anticipates the likelihood of late payment, empowering users to make smart, proactive decisions about credit control to ensure timely payments and protect their cash flow.
- Recommended chasing time - By using artificial intelligence, recommended chasing times present Chaser users with the optimal time and day to chase customers to get invoices paid.
Chaser will continue to strive for SMEs to be paid in a friendly and efficient way. Chaser is dedicated to creating tools that empower businesses to take control of their accounts receivable process and maintain financial security.
Chaser helps businesses get paid sooner with its all-in-one accounts receivables automation platform, debt collections and accounts receivables services. Users can credit check, monitor debtors, chase late invoices via SMS and email, collect payments and recover debt, all on the same platform. By sending automatic and personalised payment reminders, the software and service provider effectively gets invoices paid on time without losing the human touch. Chaser was named Xero App Partner of the Year (2023) and won Best Use of Technology at the Credit Awards (2022).
Senior Marketing Manager
Original Source: Chaser Has Helped Businesses to Collect Over $5 Billion in 2023