Xero connects with over 1,000 apps that assist small companies and their advisors succeed, with most accessible within the Xero App Retailer. Every month we have fun an app associate who stands out for serving to small companies thrive. Discover out extra about changing into a Xero app associate right here.
August has arrived, and this month we’re celebrating our app associate of the month Chaser – an accounts receivable administration app that helps small companies preserve and enhance their money circulation. Chaser was additionally one among our launch app companions for the Xero App Retailer. You’ll be able to learn extra in regards to the Xero App Retailer right here.
Chaser CEO, Sonia Dorais, gave us the rundown on Chaser’s mission to assist small companies via improved credit-control, how they’ve saved their prospects time and what’s subsequent on their horizon.
Serving to soothe late-payment pressures
Late funds are the bane of many small companies the world over. ‘The State of Late Funds’ analysis carried out by Xero and Paypal discovered that in a mean month, 48% of invoices issued by small companies are paid previous their due date, which over a 12 months signifies that homeowners or managers are spending not less than two working weeks chasing late funds.
Chaser was based in 2014 to sort out this irritating drawback. A demanding, uncomfortable and sometimes guide process, bill chasing is an issue for small companies in all places. Chaser desires to vary this onerous course of, with a decided mission to assist small companies worldwide receives a commission in a fast, environment friendly and pleasant means.
“Chaser works with small companies and accountants and bookkeepers globally, to automate the end-to-end credit score management course of. This helps them save time and get invoices paid quicker, while defending their buyer relationships,” says Sonia.
“With Chaser, small companies can credit score verify, monitor debtors, chase invoices, gather funds and get well debt in a single place – seamlessly related with Xero.”
Sustaining nice relationships
Requesting funds on excellent invoices may be an ungainly process, and should put a pressure on relationships between small companies and their prospects. The staff at Chaser have focussed on constructing their options round lowering this awkwardness. By specializing in key issues like clear communication and simplifying funds, Chaser may help preserve nice relationships.
It begins from a centralised communication hub that permits companies to personalise and handle their cost reminders. An hourly sync with Xero signifies that Chaser is up-to-date on the most recent funds earlier than automated reminders are despatched. A brand new cost portal then gives a straightforward means for purchasers to handle any excellent and paid invoices, and select find out how to pay.
“Chaser customers can hyperlink prospects to their devoted portal via automated cost reminder emails. When funds are made, these are mechanically and immediately reconciled in Xero,” explains Sonia.
Instances can get robust, so Chaser additionally presents Cost Plans to assist ease the burden some prospects could face. Customers can set these as much as assist their prospects pay invoices in additional manageable instalments. For older money owed, Chaser customers can select to take up extra providers, resembling Chaser Collections and Outsourced Credit score Management.
Save time and receives a commission quicker
Digital company Glaze Digital makes use of Xero and Chaser, and have seen their days to pay scale back from 88 to 64. This implies they now receives a commission a mean of 24 days earlier. Co-founder Richard Megaw says, “The time-saving alone is sufficient justification for us, not to mention the enhancements in our credit score management. It’s positively a job operate I not need to do, and that lets me focus extra of my time on different duties.”
Ravi, Director at Wren Accountancy, says that they’re additionally seeing lowered days to cost since utilizing Chaser, “We’re getting paid 36 days quicker – with our debtor days down from 60 to 24”.
Regularly enhancing
Chaser is a staff devoted to serving their prospects first. They work intently with their person base to tackle suggestions and prioritise points. 2021 noticed them utilizing this suggestions to launch an enormous enlargement of providers, and so they’re eager to additional enhance and optimise these choices.
“After working onerous to supply customers with extra of the options they want, Chaser’s preliminary focus shall be on optimising and refactoring the back-end of our software program. It will enhance pace and efficiency for our customers,” Sonia explains.
“We stay up for persevering with to assist Xero customers to receives a commission in an environment friendly and pleasant means.”
So, take the stress out of getting paid on time by testing Chaser within the Xero App Retailer.