Do you have late-paying customers? You're not alone. 87% of businesses report that they are typically paid after their invoice due date.
For small and medium businesses, these late payments can seriously impact business growth. Research indicates that 89% of business leaders believe late payments are stopping their business from growing (QuickBooks). Furthermore, in the UK alone, 50,000 small businesses face bankruptcy every year due to late payments (FSB).
It's clear that if late payments are not dealt with, they can have a detrimental impact on businesses. With the threat of a global recession, it is more important than ever for businesses to take proactive measures to reduce late customer payments.
Here's the good news; there are simple methods you can implement at your business that have been proven to lead to faster invoice payments. Chaser will be sharing insights and advice including:
The best methods to use when asking customers for payment
Data-backed strategies to reduce late payments
How to make it easier and faster for customers to pay you
Insights from The 2022 late payments report
Processes, channels, and tech used by businesses with the fastest payment times
