Chase payments more effectively by supplementing email reminders with text messages
@chaser_hq
Sonia Dorais, Chief Executive Officer, Chaser With nearly 20 years of experience working in fastgrowing businesses, Sonia is the CEO of Chaser. Prior to this role, Sonia led the growth of numerous fintechs in both Canada and the UK that specialised in the digitisation and automation of finance and accounting tasks and functions.
Chaser’s newly released functionality, SMS payment reminders, helps businesses reach out to customers about payments in the most effective ways possible and get invoices paid faster.
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n an ideal world, all of your invoices would get paid on time. However, as most businesses have experienced, this is usually not the case. The average business is owed $300,000 in late payments (QuickBooks), and in the UK, research shows that around 50,000 businesses close each year due to the impact late payments have on their cash flow (FSB). These numbers make it very clear that finance teams need to do what they can to follow up on outstanding invoices, ensure that their payment reminders get noticed and that their customers can pay their invoices as easy as possible.
This is why thousands of finance teams have implemented Chaser. Chaser’s accounts receivable solution allows finance teams to automate invoice chasing and streamline their credit control processes. Chaser’s software provides all the tools needed to run your business’s credit control in the most effective way as you can credit check and monitor debtors, chase payments, create payment plans and collect overdue invoices all in one place. And, with our newest feature, SMS chasing, you can add a whole new dimension to your credit control and reach out to customers about payments in a more effective way and get invoices paid faster.
What is SMS chasing? SMS chasing is simply the act of sending payment reminders via SMS to customers who have outstanding invoices. This can be before the invoice is due, reminding them of an upcoming due date, or after the invoice has passed the due date. Payment reminders sent via SMS can also include a payment link, as those sent via Chaser’s software, which allows customers to pay invoices instantly directly through the link in their payment reminder SMS. Who uses SMS chasing? SMS chasing is used by finance teams, and accounts receivables or credit control teams at businesses who sell their goods or services on payment terms. It’s used by businesses who issue invoices and extend credit, as a means to remind customers of upcoming and overdue invoice payments. Why send payment reminders via SMS? On average, people receive double the number of emails per day than they do SMS messages. Due to the sheer volume of emails your customers receive
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