Chaser celebrates a decade of revolutionizing accounts receivables with AI and automation

LONDON, England, October 23, 2024 (Newswire.com) - Chaser, the leading accounts receivable platform, is proud to mark its 10-year anniversary. What began in 2014 as a tool to automate overdue invoice reminders has evolved into a globally recognized platform, and has empowered over 7,000 businesses to manage credit control efficiently. In the past decade, Chaser has helped businesses recover $30 billion in late payments and saved more than 6 million hours of manual work by continuously advancing the field of credit management with AI and automation.

Since its founding, Chaser has been dedicated to solving the critical issue of late payments, which continues to affect businesses worldwide. Over the past 10 years, the platform has evolved significantly to include a comprehensive suite of AI-powered features and automation tools designed to streamline credit control and ensure businesses are paid on time.

10 years of growth and technological advancement

Chaser’s dedication to innovation has driven the development of cutting-edge AI features, including predictive tools that offer businesses actionable insights on credit risk and payment behavior. Key advancements include:

• AI-driven late payment predictions: Allowing businesses to forecast late payments and take proactive steps to reduce credit risk.
• Recommended chasing times: Optimizing when reminders are sent, ensuring businesses engage with customers at the most effective times.
• Payer ratings: Providing real-time summaries on customer payment behaviors to help businesses prioritize collections and make efficient, data-driven decisions.
• Revenue forecast: Lets businesses improve their financial planning with accurate, AI-generated revenue predictions using advanced machine learning models.

By implementing AI and automation into these aspects of accounts receivable management, Chaser helps businesses save time, improve cash flow, and reduce reliance on manual processes.

Recent years have also seen Chaser further advance its automation capabilities, to make invoice payments faster and easier for businesses. 

The introduction of automated SMS payment reminders, as well as automated debtor calls and postal letters in 2023 and 2024 has given businesses more ways to follow up on late payments. The launch of the user-friendly Payment Portal in 2021, followed by Chaser Pay in 2023 provides debtors with an easy portal to settle invoices with multiple payment options. These Payment Portals can be linked to within automated follow up channels like SMS reminders, postal letters via QR codes, and email payment reminders; helping businesses offer debtors maximum convenience, and bringing payments in an average of 35+ days faster. 

Integrating with leading business tools

Chaser’s open API, launched in 2023, represents a major step in enabling greater flexibility for businesses. The API allows Chaser to integrate with any accounting system, ERP, or CRM, making it easy for companies to embed Chaser into their existing workflows. Partnerships with leading platforms such as Microsoft Dynamics 365 Business Central, QuickBooks, Sage, AccountsIQ, Zapier, and Stripe have further strengthened Chaser’s position as a versatile tool for businesses across a wide range of industries over the past decade.

Industry recognition and achievements

Chaser’s commitment to innovation and technology has been recognized with numerous awards, underscoring its leadership in the accounts receivable space. In 2024, the company was named best technology provider at the Credit Strategy Awards, and in 2023, Chaser won best use of innovation in business from Management Today. Other accolades, such as being named Xero App Partner of the Year (2023) and receiving the best use of technology award at the Credit Awards (2022), further highlight Chaser’s impact on the credit management industry.

CEO's vision for the future

Reflecting on this milestone, Sonia Dorais, CEO of Chaser, said: “Reaching this 10-year mark is a significant achievement, but it’s only the beginning. We’ve grown from a simple tool into a platform that automates the entire accounts receivable process. Our goal is to continue pushing the boundaries of innovation in credit management, making sure businesses get paid on time, in the most efficient way possible."

Looking to the future, Chaser is committed to further enhancing its platform with AI and automation, helping businesses overcome late payments and improve their financial stability.

If you’d like to find out more about how Chaser can support your business with late payments, speak to an expert at Chaser today.

Source: Chaser