Are you tired of wasting time chasing invoices? Late payments are a well-documented problem for SMEs and consultants. More than half of people feel uncomfortable about chasing unpaid invoices, and the process of chasing is a significant drain on time. Thankfully, Xero have developed an add-on to help. Here’s how it works.
The Chasing Conundrum
Managing invoicing and credit control takes a careful balance of persistence and patience. Some clients pay immediately, others expect ample breathing space, and many put the matter to the back of their minds until they are given several reminders.
For SMEs, this uncertainty is a real headache. It creates a situation where cash flow is unpredictable, and this makes both short-term and long-term planning problematic. It can also cause tensions within the business-client relationship. Unfortunately, up to 40% of bad debt cases go all the way to court before they are resolved.
A Software Solution
Software such as Xero is the equivalent of having a highly organised assistant. Advanced automation ensures that functions such as invoicing are completed on time, and with professional accuracy. The Chaser add-on takes this one step further. Its purpose is to enhance the entire invoicing process, with a particular focus on helping SMEs to guarantee their income is paid promptly.
How Chaser Xero Works
Chaser keeps an eye on every outstanding invoice. Any time that a client misses their pre-agreed deadline, the Chaser add-on automatically sends a carefully worded reminder email. Xero have designed this function to have a human touch, so clients do not realise that the process is managed by software.
Chaser also works with Xero to offer extensive analytics of client behaviour. This includes automatic capturing of every message and reply, as well as graphical data. For companies, this paper-trail gives an extra level of legal reassurance. It also offers deep insight into reliable and unreliable customers, meaning that client lists can be trimmed.
Who Is The Chaser Add-On Designed For?
Chaser is designed for financial overseers. It can manage multiple accounts, so is ideal for organisations that are growing. It is also a good match for financially complex companies, such as property developers, business consultants, and start-ups.
It only takes two minutes to install the Xero Chaser add-on. If you have ever wasted more time than that chasing an invoice, our verdict is that it’s worth it. For more information, give us a call today!