Late payment to UK small and medium enterprises (SMEs) is a huge problem. At last count UK SMEs were owed £55bn in overdue invoices.
Polite persistence pays when it comes to chasing up customers to pay those invoices on time.
Where they have forgotten, it reminds them of the need to pay. Where they are dragging their feet to preserve their own cashflow rather than boosting your’s, it forces them to justify the unjustifiable of why they are continuing not to pay.
Xero’s invoice reminders
Recently Xero released some basic functionality to address this need: their invoice reminders.
With these invoice reminders you can:
- Set a track of up to five different reminder emails
- Set these different reminders to go out at a set number of days by reference to a given
- Switch off reminders for particular customers and individual invoices that you don’t want
- On the appointed day by reference to due date, a reminder about each outstanding
- Set an email address of your choosing for replies to those reminders to be sent to
These reminders will be great for our clients who have only a very small number of invoices to chase. At the same time, we are proud partners with CHASER, a solution dedicated to getting your invoices paid on time, automatically.
The CHASER Difference
The CHASER Difference is all about automated humanity. The minute chasers start to look and feel like automated emails they lose such a huge amount of their impact. If it doesn’t feel like a human being on the other end of the process, it is so easy to ignore.
Just some of the hallmarks of automated humanity in CHASER as a product are:
- Their multi functionality whereby separate invoices for the same customer are sent together
- The ability to set the day(s) and time each week that you want your chasers to be sent.
- Sending chasers to reflect your normal email address that you’d send them from
- The ability to set different schedules or tracks of different email templates at different
CHASER helps businesses deliver an average 26 debtor day reduction equivalent to a cashflow boost of 7.1% of turnover a one off free investment that you can invest in growth. Alongside
this, an average manual chasing time saving of 3.5 weeks a year.
February 2016 Update
We are delighted to report that Chaser won Xero’s Add-On of the Year Award at this year’s Xerocon UK!
**If you’d like to discuss how we could help you get your invoices paid on time, please get in touch: sharon@kinderpocock.co.uk**
