Chaser launches open API to make its reminder and receivables management software more easily accessible to SMEs
LONDON, 17 January 2023 - Chaser, the leading global accounts receivables software provider, today launched an open API; Chaser API. This gives businesses worldwide access to connect any system with Chaser to automate their invoice reminders and get paid faster.
Nine in 10 businesses are paid late, according to The 2022 Late Payments Report, seriously impacting their growth and cash flow. In fact, 89% of business leaders believe late payments are stopping their business from growing (QuickBooks). Not only do late payments restrict growth by placing a strain on a business's cash flow, but in the case of small and medium-sized businesses, they frequently lead to business failures. In the UK alone, 50,000 small businesses face bankruptcy every year due to late payments (FSB).
To avoid late payments and the negative impacts they can have, many businesses are turning to automation to streamline and improve efficiency in their accounts receivable processes. In fact, research shows that businesses using accounts receivables software are three times more likely to get an invoice paid before the due date than non-software users (The 2022 Late Payments Report).
In order to support more businesses in reducing late payments and help prevent the devastating effects they can have on cash flow and business survival, Chaser has made its software available to all businesses. Using Chaser API, any business, no matter what system they are using, can automate their accounts receivables process with Chaser, reduce late payments, and improve their cash flow in the most efficient and friendly way possible.
“The aim of releasing an open API is to allow any businesses to integrate with our application. Chaser API lets any software developer build a direct integration between their system and Chaser. By releasing an open API, we are democratising access to Chaser’s accounts receivables software, and helping more businesses globally to reduce late payments,” said Pedro Sampaio, Chief Technology Officer, Chaser.
“The expectations of customers and users of software have changed dramatically from just a few years ago. Today customers expect easy connectivity for products and services, and SMEs, in particular, are choosing integrated software in lieu of traditional ERPs to save on costs. Software is expected to be smart and integrate automatically across existing systems. APIs are enabling these integrations and have become the key to market relevance for many companies," said Sonia Dorais, CEO of Chaser.
Chaser helps businesses get paid sooner with all-in-one accounts receivables automation software, debt collections and credit control services.
Users can credit check, monitor debtors, chase late invoices via SMS and email, collect payments, recover debt and reconcile accounts, all in the same place.
By sending automatic and deeply personalised payment reminders users increase their chances of getting invoices paid on time without losing the human touch and optimising the cash flow of their company. To date, Chaser has helped users chase over USD 30 billion in overdue invoices.
Chaser was named B2B Supplier of the Year at the CICM British Credit Awards (2022), won Best Use of Technology at the Credit Awards (2022), was Xero's 'App Partner of the Month' (August, 2021), and the Accounting Excellence 'Cloud App of the Year' three years in a row (2017, 2018, and 2019).