Almost half of invoices are paid late.
And one of the biggest issues we see agency owners facing day in and day out is getting the money in.
Getting paid on time is essential for a company’s cash flow and bank balance but it can be a crippling drain on a business owners precious time.
The calls… the emails… the disputes… the queries… it can feel like walking a tightrope between getting paid and potentially souring a client relationship.
At MAP, we understand that you want to develop and improve the effectiveness of your processes; as well as save valuable time to focus on bigger tasks; all while helping and maintaining a healthy cash flow.
This is why MAP have partnered with Chaser to help offer an automated chasing email platform to implement into your business and streamline your processes.
A common issue that often leads to bad credit control is that people don’t have the confidence to make the first move and pick up the phone. I find that the best solution to this is to have the 1st step of your Credit Control process automated. This way, the first move has already been made and any contact you make after this point should be expected by the client. By starting to chase with an automated email, you will also convince the pesky clients who need a little push to pay before you have even had to pick up the phone!
Understandably, chasing clients efficiently and on a regular basis can often be very time consuming and can eat into your other tasks. Chaser has proven to save their clients an average of 7.3 hours a week on Credit Control! One of my favorite key features is that you are able to customise the email templates as well as adding those to a personalised schedule which you can amend and improve to email clients as and when you typically would. Not only does this help when making the emails more personable, but you can also add your email signatures to make them look less automated.
I have personally used many different techniques and software to keep on track of making phone calls and chasing clients, however, this can easily become overcrowded and confusing to follow as you are likely logging into different platforms and flicking between screens. An ideal feature on Chaser is that all email chases are kept within the contact, which you can also add notes in and tag relevant people in and set yourself reminders.
One of our clients, who were struggling to get their invoices paid from a particular debtor, was recently on-boarded onto our Chaser platform. Within an hour of their first chasing schedule being sent out, their troublesome debtor paid 4 out of their 5 invoices owed on the same day!
At MAP, we can help implement Chaser into your business and show you all the top tips on how to create a more efficient and streamlined Credit Control process.