Payer rating | Chaser

Keep track of your customers' payment behavior

You can significantly reduce collection times by segmenting your customers based on their payment behavior. But understanding your payer's behavior isn’t straightforward. It takes into account how they are paying now, how they have paid in the past, and estimates how they will pay you in the future; no quick task for an already-busy finance team.

Payer ratings let you see at a glance how your customers pay you. Using machine learning, payer ratings analyze your customers’ payment behavior over time to determine whether they are a good, bad, or average payer. Payer ratings mean you can understand your customer payment behavior instantly. This will help your team tailor the collections approach and identify areas where you can improve your accounts receivable management and follow up process.

What is payment data analytics and what is its role in accounts receivable?

Payment data analytics scrutinizes financial transactions to glean business insights, uncover trends, and bolster decision-making. Within accounts receivable, it is essential for enhancing financial tracking, identifying customer and market trends, enabling data-driven choices, streamlining financial management processes, and improving strategic planning by offering a comprehensive view of financial health.

What is predictive analytics for payers?

Predictive analytics for payers involves using historical payment data, statistical algorithms, and machine learning techniques to forecast future payment behaviors and trends. This can include predicting payment delays, identifying potential fraud, estimating cash flow, and optimizing payment strategies. By leveraging predictive analytics, payers can make informed decisions, mitigate risks, and improve their overall financial management.