1 minute read
See how customers are paying at a glance with Payer ratings in Chaser
BEING SPECIFIC AND TAILORED IN YOUR APPROACH TO COLLECTING CUSTOMER PAYMENTS TYPICALLY LEADS TO FASTER PAYMENTS. WHEN IT COMES TO IMPROVING YOUR ACCOUNTS RECEIVABLES PROCESS AND GETTING PAID FASTER, TREATING ALL YOUR CUSTOMERS IN THE SAME WAY WILL NOT YIELD THE BEST RESULTS.
Studies indicate that by segmenting customers based on payment behavior and customising follow-up strategies, you can significantly reduce collection times.
Yet, it's challenging to comprehend your customers' payment behavior, as it involves evaluating their present and past payment patterns and predicting their future payment behavior. This can be a daunting task for your already-busy finance team.