Accounts receivable (AR) automation software company Chaser rolled out a payment plan functionality that lets users offer payment installment plans to their customers and automatically seek payments on these installments during periods they can set, according to a Wednesday (June 2) announcement.
“The pandemic and current global economy has made it increasingly difficult for businesses to pay each other. Our team felt that offering this functionality would help remove obstacles that might make paying businesses more difficult. By giving our customers the ability to offer payment plans, they are helping their own customers gain the ability to pay them back more easily,” Chaser CEO Sonia Dorais said in the announcement.
Sizable invoices can dissuade clients from expediently paying their balances since they can have difficulty with their cash flow. However, users can provide their clients with the opportunity to split their invoices into more manageable chunks through Chaser’s new payment plans.
Payments can be made weekly, bi-weekly, monthly and yearly with the plans. While the amounts are divided up evenly, users can make modifications depending on their preferences. Once users have brought a payment plan onto an invoice, a ‘Payment Plan’ tab will be displayed on the invoice page.
Chaser Technologies Limited assists companies with receiving quicker payments through a chasing automation system, debt collections agency and outsourced credit control services. Chaser has helped users get more than £3 billion (approximately $4.25 billion) in late invoices.
In April, Chaser announced that it had looped into Microsoft Dynamics 365 Business Central through integration. According to an April announcement, the connection makes it easy and cost-effective for groups using the Business Central system to digitize their AR and credit control processes.
“In today’s economy, businesses are turning to cloud solutions like Chaser Credit Control and Debt Collections to quickly and seamlessly integrate with their current accounting packages like Dynamics 365 Business Central,” Dorais said in the April announcement.