Accounts receivable (AR) platform Chaser said it has launched an integration with Sage 200.
The collaboration, announced Tuesday (Feb. 11), is designed to bring AR management to businesses using the enterprise resource management (ERP) software, helping customers reduce late payments and eliminate manual credit management tasks.
“Now, more businesses worldwide can benefit from end-to-end credit management automation, and reduce late invoice payments,” the company said in a news release.
The release noted that reduced payments continue to pressure businesses, with many of them seeing a direct negative impact, such as reduced investments and difficulties in paying staff.
In addition, some late payments are ultimately written off as bad debt, making financial strain even worse, and leading businesses to waste time chasing overdue invoices.
“With this new integration, Sage 200 users can automate their accounts receivable and debtor tracking processes, helping to reduce overdue invoices, improve efficiency, and bring revenue in faster,” Chaser said.
Looking at the AR landscape last week, PYMNTS compared the process of managing accounts receivable with manual process as running “a marathon with bricks tied to your feet.”
“Maintaining a healthy cash flow is really hard for SMBs,” Murray Sharp, senior vice president of commercial B2B at Nuvei, said in an interview with PYMNTS. “Delayed payments and inefficient collection processes put a strain on operations and ultimately impact downstream supplier relationships.”
One big obstacle is the continued dependence on paper checks. In spite of digital payment innovations, paper checks remain common in B2B transactions, leading to slow and unpredictable cash flow. Upwards of three-quarters of SMBs are still manually seeking out invoices, making collection calls, or handling disputes via email, trailing competitors that have embraced digital automation and invoice financing solutions.
“The old adage, ‘the check is in the mail,’ is still very much applicable,” Sharp said.
Meanwhile, research by PYMNTS Intelligence found that 77% of finance chiefs at large American companies say that AR automation reduces delays through improved invoice tracking. In addition, 85% of CFOs reported automation helps deal with invoice errors and discrepancies, which can otherwise interrupt payment cycles and hinder supplier relationships.
“SMBs and large firms benefit from the improved visibility that comes with AR automation. These businesses can track invoices in real time, spot discrepancies earlier and process payments more quickly,” PYMNTS wrote last month. “As a result, they can better manage cash flow and make more informed strategic decisions. Businesses must embrace automation to enhance visibility and streamline processes.”
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