Late Payment Predictor

Prioritize your collection efforts

Gain a competitive edge by strategically allocating your collection resources. By pinpointing invoices at risk of late payment, your business can streamline resource allocation, directing efforts towards incentivizing high-risk customers to make timely payments. This targeted approach ensures that valuable resources are not evenly distributed among all invoices, allowing your team to focus on where it matters most

WEB-feature-late-payment-predictor-image-1

Customize your strategy for timely payments from every customer

When dealing with invoices identified as having a higher likelihood of late payment, your business can adopt a proactive approach to secure prompt payments. This proactive strategy may involve sending multiple pre-due reminders, initiating brief phone calls with customers to confirm their commitment to meeting the payment deadline, and providing flexible payment plans if deemed necessary.

WEB-feature-late-payment-predictor-image-2

Enhance your customer relationship

Taking proactive steps to address potential late payment risks contributes to the cultivation of robust customer relationships. Through transparent and open communication with customers whose invoices are identified as high-risk for late payment, your business can forge collaborative efforts to devise mutually advantageous solutions, such as establishing a structured payment plan. This proactive approach not only resolves payment concerns but also fosters trust and loyalty, solidifying a positive and enduring connection with your customers.

WEB-feature-late-payment-predictor-image-3

Will your customers pay you on time?

Chaser's late payment predictor plays a pivotal role in addressing the fundamental question: "Will your customer pay you on time?" This predictive tool assesses the risk associated with a specific customer or borrower, offering businesses valuable insights to make informed and proactive credit control decisions. By analyzing factors such as the invoice due date, value, recent and historical payment behavior, and other invoice details, the predictor categorizes your due invoices into low, medium, or high-risk brackets. Furthermore, it provides a percentage score ranging from 0 to 100%, where a 0% score signifies a high probability of timely payment, while a 100% score warns of a heightened risk of late payment.

The key features of recommended chasing times include the strategic scheduling of payment reminder emails and SMS messages to maximize visibility, allowing businesses to align their communication with customers' preferred payment times based on past behavior.

Chaser leverages past payment behavior to predict future payment tendencies, enabling businesses to anticipate potential challenges and take preemptive measures to ensure timely payments. The accuracy of these predictions is contingent upon the quality of data, the sophistication of predictive models, and the specific variables considered, making the late payment predictor a valuable asset in optimizing credit control strategies.