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Chaser Promotes SMS Payment Reminders by Absorbing Processing Costs

Chaser, a global accounts receivable (AR) platform and credit control service provider, is promoting the adoption of SMS payment reminders by enabling businesses to pay nothing for SMS usage from January to June 2024.

During this time, the company will absorb the costs associated with processing SMS, Chaser CEO Sonia Dorais said in a Wednesday (Jan. 3) blog post.

“By covering the SMS processing costs, Chaser is actively supporting businesses in adopting this innovative approach to invoice-chasing,” Dorais said in the post. “This not only reflects a commitment to assisting companies in navigating challenging economic conditions but also underscores Chaser’s dedication to providing practical and cost-effective solutions to its clients.”

Chaser introduced its SMS invoice-chasing functionality in 2022, aiming to address the limitations of traditional email communication, according to the post.

While email often gets caught in spam filters or gets lost amid other emails in the recipient’s inbox, SMS is direct and immediate, the post said.

Using SMS to send payment reminders and follow-ups helps businesses ensure that the communications are not overlooked by their customers, reach customers in real time, and engage them in the payment process more quickly and effectively, per the post.

Chaser has found that businesses using its SMS experience reduce the average chase-to-payment time to 16 days, which is seven days faster than email and enhances the user’s workflow, according to the post.

“Overall, incorporating SMS payment reminders into your invoice payment reminder schedule can be an effective way to improve communication with your clients, increase on-time payments and streamline your accounts receivable process,” Dorais said in the post. “However, it’s important to ensure that you have obtained the necessary consent from your clients to send them SMS messages for this purpose, as well as to comply with any applicable privacy regulations.”

In another recent move, Chaser said in August that it launched an artificial intelligence (AI)-powered “recommended chasing times” feature designed to help businesses optimize collection efforts and improve cash flow.

This feature uses AI to predict the best times for businesses to reach their customers via email or text message for invoice payments.