We are thrilled to share that Chaser has won Best Use of Technology End-to-end credit solution at the Credit Awards 2022. This award recognises the achievements of Chaser's end-to-end accounts receivables automation technology since August 2021.
The awards were judged by a panel of 24 credit industry experts who praised Chaser's end-to-end credit solution for its focus on developing technology that solves end-user needs and for its demonstrable results in helping businesses to reduce late payments, save time on accounts receivables and improve their cash flow.
Thrilled to share that Chaser has won Best Use of Technology at the @Credit_Strategy Credit Awards 2022 for its end-to-end accounts receivables automation
The Credit Awards is the flagship awards for the credit and financial services industry and regonises and celebrates innovation, best practice and the hard work of individuals, business divisions and pan-global conglomerates across the entire industry. The awards are run by Credit Strategy, who provide news insight and community for credit professionals across the globe.
We are delighted to be winners at the Credit Strategy Credit Awards 2022 alongside businesses like Equifax, Nationwide, Virgin Money, TransUnion, UK Finance, FICO, and many more.
The ceremony took place at the JW Marriot Grosvenor House, London in the Great Room where the Chaser team celebrated their nomination and win alongside key businesses in the credit industry.
The event was hosted my comedian Jack Dee who presented Chaser with the award alongside category sponsor and digital banking platform Ophen.
Best use of technology
Chaser has focused on delivering users end-to-end receivables automation features, which have been released since August 2021.
With end-to-end AR technology, Chaser users now have access to all receivables functionalities in one place, can minimise late payments, and speed-up their processes - improving cash flow and efficiency.
The end-to-end technology developed allows credit teams to automate and optimise their entire credit management process in one central system.
With end-to-end technology, Chaser users can now credit check potential customers, monitor debtors, chase late invoices via email and SMS, and reconcile accounts, collect payments, and utilise debt collections, all in the same unique platform.
Results of end-to-end AR technology
With new end-to-end technology, users have achieved astonishing efficiency improvements. Such as Rossana, Credit Control Manager at LoveBrands who saves over 15 hours every week on her accounts receivables using Chaser's automated technology.
The Payment Portal, a key development in providing end-to-end automation, launched in January, has already sped-up over £2million in payments.
Giving customers varied options within the Payment Portal (transfer, card payment, request payment-plan, dispute) has sped-up payments for users.
Businesses can reduce risk with Chaser’s credit checking solution. and ongoing monitoring and alters on customers business and financial situation. With up-to-date reports and alerts on customers, users can make more accurate assumptions about their customers’ payment behaviours and adapt their credit management accordingly.
SMS payment reminders
Released in February 2022, SMS payment reminders have been proven to achieve open rates averaging 98%, helping businesses reach customers on-the-go and get invoices paid faster. Using Chaser’s Payment Portal, SMS reminders can link recipients directly to make payments.
After user research it was established that credit teams are often hesitant to use collection agencies, due to aggressive techniques.
Chaser Collections was built to combat this using in-house, friendly collectors and ‘receivables CRM’ tracking technology that gives users full visibility over every interaction between their debt collector and customers, including call-logs and customer replies, automatically
HuttieGroup, users for just six-months, have recovered £15,600. Tom, their FD says:
“Of all invoices put through, 90%+ have received a response, and 80%+ have already been paid” . This doesn’t come at the expense of customer relationships: “We’ve never had a complaint, everything is out in the open and handled very nicely, the emails sent look like something we’d write ourselves”.
Since 2021 Chaser accelerated the expansion of technology for credit teams, giving businesses the flexibility to automate and improve any area of their receivables process through automation.
Credit Awards 2022
Following our nomination for the Best Use of Technology award we were so proud to be announced as winner on the awards evening. Thank you to Credit Strategy and the event sponsors for a fantastic evening of celebrations and congratulations to the nominees and winners at the Credit Awards 2022.