Chaser, the global credit control automation platform and service provider, today announced the expansion of its accounting software integrations by launching a seamless connection with award-winning accounting software for small businesses, FreeAgent.
Late payments are a growing source of stress for business owners, with a 209% increase in late payments recorded since the global pandemic (CPA, 2020). More recently, gov.co.uk stated that £23.4bn worth of late invoices are currently owed to businesses across Britain, impacting their cash flow and ultimately their survival.
After receiving numerous requests from FreeAgent small business users to develop an integration with their credit control application, Chaser jumped on the opportunity to deliver it as quickly as possible to support more small businesses during a critical time.
Chaser’s integration with FreeAgent allows businesses to optimise and better personalise their receivables process, whilst saving time. FreeAgent users can now carry out automated invoice payment chasing without losing the human-touch, with advanced personalisation, making each reminder look like it came directly from the sender. This process alone saves Chaser’s current customer up to 15+ hours weekly and ensures that no unpaid invoice slips through the cracks. Not only do business owners improve their chances of being paid, but there is the added bonus of avoiding those uncomfortable conversations when chasing overdue invoices.
Due to the two-way integration, payments collected are consequently reconciled in both systems automatically. This helps ensure accurate accounting data and saves admin time. With the newly-released Payment Portal in Chaser, FreeAgent users can also provide all of their customers with a dedicated portal where they can choose from multiple payment options to pay their invoices, meaning easier, faster invoice payments for FreeAgent users.
Sonia Dorais, CEO of Chaser, has said: “Small businesses remain the most at risk from a late or unpaid invoice – particularly after m onths of pressure on cash flow. By partnering with accounting systems like FreeAgent, we’re aiming to help more businesses tackle late payments and trade with the confidence that they will get paid for their work.”
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Chaser Technologies Limited helps small and mid-size businesses get paid sooner with its award-winning payment chasing automation platform, debt collections services and outsourced credit control services. Since launching in 2014, Chaser has been dedicated to solving this late payment problem for all businesses that sell on payment terms. By sending automatic and intelligent reminders, the software and service provider effectively gets invoices paid on time without losing the human touch. To date, Chaser has helped users chase over £3 billion in overdue invoices.
Chaser was named the Accounting Excellence ‘Cloud App of the Year’ three years in a row (2017, 2018, and 2019), Xero’s ‘App Partner of the Year’ (2016), and App Partner of the Month (August 2019).
FreeAgent provides the UK’s leading – and multi-award-winning – online accounting system designed to meet the needs of small businesses and freelancers. Since launching its system in 2007, FreeAgent has rapidly grown a loyal community of 20,000 customers worldwide.
FreeAgent has won major awards at the SIFT Media Software Satisfaction Awards and British Accountancy Awards and has attracted investment from leading European business figures, including Robin Klein from the Accelerator Group.
Since 2011, FreeAgent has been part of the award-winning MyBusinessWorks applications package that Barclays provides to its UK business customers. FreeAgent was also selected in 2010 to power the IRIS OpenBooks online accounting system for IRIS Software, whose customers comprise around 50% of the 28,000 accountancy practices in the UK.