A year in review: Chaser's impact on businesses in 2024

As we close the chapter on another remarkable year, I want to take a moment to extend my heartfelt gratitude to everyone who has played a role in Chaser’s success—our incredible team, investors, shareholders, partners, and customers. Your dedication and unwavering support have been the foundation of our collective achievements.

This year has been one of growth, innovation, and milestones that we’ve reached together. Every accomplishment is a testament to the hard work, passion, and commitment of those who believe in our mission to empower businesses with better cash flow and financial stability.

As we celebrate the successes of 2024, let us also take a moment to recognize the invaluable contributions that have propelled us forward. Your efforts have made a real difference, and I am truly honored to work alongside such a talented and driven group of individuals. Together, we look ahead to an even brighter 2025.

Key achievements: Empowering businesses in 2024

At Chaser, we’ve always believed in the power of technology to solve real-world challenges. This year, we’ve taken significant steps toward our mission to help SMEs get paid on time in a friendly, effective way.

Breaking records in cash collection

In 2024, Chaser helped businesses collect an incredible $9.3 billion USD in payments. This remarkable achievement highlights the growing impact of Chaser’s technology in tackling the global late payment crisis, empowering SMEs to improve cash flow and achieve financial resilience.

Saving time and boosting efficiency

Chaser users saved an astonishing 17.5 million minutes in 2024 by automating repetitive accounts receivable tasks. Our platform enabled businesses to focus on growth-oriented activities while maintaining efficient credit control. With over 17,732 customizable email templates used this year, businesses communicated professionally and personally, adapting their approach to fit every situation.

Accelerating payment cycles

Through over 3.5 million automated reminders sent in 2024, businesses using Chaser encouraged timely payments while preserving strong customer relationships. More than 4 million invoices were paid before their due dates, reinforcing the importance of proactive communication in improving cash flow.

Reducing days sales outstanding (DSO)

Chaser users saw an average reduction of 14 days in their DSO in 2024. This improvement directly contributed to stronger cash flow cycles, better financial planning, and enhanced stability for businesses across industries.

Elevating accounts receivable processes

Businesses using Chaser collected payments for over 4.5 million invoices in 2024, a testament to the effectiveness of our automated credit control solutions. With Chaser’s tools, businesses streamlined their processes, reduced manual workloads, and ensured consistent cash inflow.

Helping businesses save time and increase productivity

In 2024, Chaser's software and services continued to shine as indispensable tools for businesses, enabling SMEs to save time, boost productivity, and transform their accounts receivable processes. By automating manual tasks and enhancing invoice payment efficiency, Chaser empowered businesses to focus on growth and achieve financial stability. The results highlighted in this blog underscore the tangible benefits of Chaser’s platform, streamlining credit control processes and fostering healthier cash flow management.

This success is a testament to the dedication of the teams and businesses leveraging Chaser, united by a shared commitment to efficient receivables management and timely payment collection. Looking ahead, Chaser is committed to building on this momentum, offering even more innovative, tailored solutions to support SMEs. By continuing to drive efficiency and profitability, Chaser aims to help businesses achieve not only better cash flow but also a stronger financial future.

Product innovations

As 2024 comes to a close, we’re thrilled to reflect on an extraordinary year of innovation at Chaser. From expanded integrations to cutting-edge features, we’ve worked tirelessly to enhance how businesses manage their accounts receivables (AR), streamline payments, and reduce debtor days. Let’s look back at the key feature releases and product developments that defined 2024.

1. Expanding integrations for greater flexibility

• Dynamics 365 integration: Customers using Dynamics 365 can now connect directly with Chaser to automate payment reminders and streamline AR processes.
  
• Sage 50 desktop support: Users of Sage 50 Desktop can now benefit from Chaser’s automated reminders via an improved CSV import/export tool, enabling easy access to our powerful features.
  
• Sage 200 compatibility: Businesses leveraging Sage 200 can now connect to Chaser for AR automation, improving collection efficiency and reducing manual effort.
• Enhanced CSV desktop tools: We’ve refined our CSV integration, providing faster data uploads, improved error detection, and smarter data mapping.

2. Pioneering communication features

• Auto calls and in-app calls: Now, Chaser can initiate automated voice calls and in-app calls to remind customers about outstanding invoices, adding a personal touch to collections without additional effort.
  
  
• Paper letters: For businesses dealing with customers who prefer traditional communication, we’ve introduced the ability to send paper reminders directly from the platform.

3. Advancing data security and compliance

• SOC 2 compliance: Our SOC 2 certification process reached 90% completion, with the final audit expected in early 2025. This milestone underscores our commitment to secure, reliable operations.

4. AI innovations to transform AR management

• AI forecasting: We launched predictive analytics tools to forecast payment timelines based on customer behavior and historical trends, giving businesses greater control over cash flow planning.
  
• AI-driven insights: Our platform now analyzes debtor patterns and recommends optimal communication schedules, channels, and escalation strategies.

5. AR automation features for complex needs

• Customizable chasing schedules by invoice type: Segment chasing strategies for different invoice categories, from low-value invoices to recurring subscriptions.
• Categorization by event: Track outstanding payments by event or project, perfect for industries like education or event management.

6. Empowering AR teams with new tools

To support credit controllers and finance teams, we added:

Enhanced reporting: Customizable dashboards and exportable reports tailored to your business needs.

7. Expanded credit control services

To complement our software, we expanded our Credit Control as a Service (CCaaS) offering. Our expert credit controllers now assist businesses with complex accounts, ensuring faster payments while allowing teams to focus on growth.

Looking Ahead to 2025

• Completion of our SOC 2 certification.
• A full launch of the Sage Intacct integration.
• A full launch of the Netsuite integration.
• More sophisticated AI forecasting tools.
• Expanding integrations.

Event highlights

As we wrap up 2024, we're taking a moment to reflect on an incredible year filled with unforgettable events. This year, Chaser continued to shine at some of the most prominent gatherings in the accounting and finance industry. These events not only allowed us to showcase our award-winning solutions but also provided invaluable opportunities to connect, learn, and innovate.

Accountex London 2024

Accountex London 2024 was once again a highlight on Chaser’s calendar. Held at the London ExCeL, the event brought together over 10,000 finance professionals, accountants, and bookkeepers for two days of networking, knowledge sharing, and exploration of cutting-edge technologies. Chaser proudly joined over 250 global brands on the exhibition floors, and the energy, insights, and connections made this an exceptional experience. The Chaser team is already looking forward to returning in 2025.

Xerocon London 2024

This year, Xerocon returned to London, and Chaser was thrilled to be part of the action. Often dubbed the "Coachella for accountants," the event brought together Xero partners, users, and global accounting professionals for an exciting mix of learning and fun. Featuring inspiring keynotes, practical workshops, and plenty of opportunities to connect, Xerocon was an unmissable highlight of the year. Chaser was delighted to engage with attendees and share our expertise in credit control automation. Here's to an even bigger Xerocon next year.

CFO Techstack 2024

CFO TechStack 2024 provided another fantastic platform for Chaser to connect with finance leaders and decision-makers. This event, dedicated to showcasing the latest and most impactful financial technology, allowed us to demonstrate how Chaser’s solutions empower businesses to take control of their cash flow and streamline their accounts receivable processes. The Chaser team had the opportunity to engage in meaningful discussions, explore industry trends, and present our vision for smarter credit control automation. The insights and connections gained at CFO TechStack were invaluable, and we’re already looking forward to the next edition.

Awards and recognition

As 2024 comes to a close, Chaser is proud to reflect on a year of significant achievements and recognition. These prestigious awards underscore the dedication to innovation, excellence, and leadership within the fintech and credit industries.

Global Fintech Awards 2024: AI in fintech award

At the esteemed Global Fintech Awards, Chaser earned the AI in Fintech award, recognizing the innovative use of artificial intelligence to drive impactful solutions. This accolade highlights our commitment to empowering businesses with intelligent tools designed to optimize accounts receivable processes and improve cash flow.

Credit Awards 2024: Best technology provider

Chaser was honored to be named best technology provider for 2024 at the highly anticipated Credit Awards. This award celebrates our role as a leader in the credit industry, delivering powerful, user-friendly tools that streamline credit control and collections. The recognition emphasizes the measurable value provided to businesses, fostering trust and collaboration with partners and clients.

These awards represent the collective efforts of the Chaser team, partners, and clients, who inspire us to innovate and excel. As we look ahead to 2025, we remain motivated to continue delivering exceptional value and driving meaningful impact for the businesses we support. Thank you to everyone who has been part of this remarkable journey. Here's to another year of collaboration and growth.

Celebrating 10 years of Chaser: A decade of growth, innovation, and community

This year, Chaser proudly celebrated its 10th anniversary—a decade dedicated to helping businesses get paid on time and reduce the burden of late payments. From humble beginnings as an email reminder tool in 2014, Chaser has evolved into a fully automated accounts receivables platform, supporting over 7,000 businesses worldwide to recover £30 billion in late payments and save 6 million hours of manual tasks.

As we reflect on this incredible journey, we’re grateful to our customers, partners, and team for making it all possible. Together, we’ve achieved key milestones like the introduction of AI-driven features, expanded integrations, and multi-channel communication tools—all aimed at improving efficiency and cash flow for businesses everywhere.

Here’s to the next decade of innovation and success. Thank you for being part of the Chaser story!

Watch the commemorative video

Culture highlights

At Chaser, our team spans continents and time zones, but we’re united by a common goal: transforming accounts receivables into a hassle-free experience for our customers. This year, we took our collaboration to the next level with an unforgettable offsite in Serbia—a week filled with team bonding, laughter, and adventure.

Why Serbia?

Serbia offered the perfect mix of rich culture, stunning landscapes, and vibrant hospitality. From the historic charm of Belgrade to the breathtaking mountains and rivers, it provided a unique backdrop for us to step away from our daily routines and connect on a deeper level.

A warm welcome

Our offsite kicked off with a hearty Serbian feast. The aroma of freshly grilled ćevapi and ajvar set the stage for what would be a week of indulging in local flavors and traditions. As everyone gathered around, you could feel the energy—a mix of excitement and the joy of seeing familiar faces in person after months of virtual calls.

Bonding through adventure

One of the most exhilarating highlights of the trip was our hike. The cool waters and lush green surroundings were a welcome escape from our usual office environments. Navigating the woods required trust and teamwork, and by the end of it, we were soaked but smiling from ear to ear. Conversations flowed effortlessly as we walked, turning colleagues into friends.

Workshops with a view

While offsites are about fun, they’re also about alignment and growth. We held interactive workshops overlooking the scenic Serbian countryside, brainstorming ideas and aligning on our vision for the future. Collaborating in such a serene setting reminded us why we love what we do—and who we do it with.

Serbian nights: Dancing, stories, and more

Every evening, we gathered for relaxed dinners that turned into vibrant parties. Live traditional music, impromptu karaoke, and even a few dance-offs made each night memorable. Sharing stories around the firepit, we realized just how diverse yet cohesive our team is, each member bringing something special to the table.

Why team bonding matters

At Chaser, we believe that our people are our greatest strength. Offsites like this remind us of the value of connection beyond work. Experiencing Serbia together strengthened our trust in one another, creating a foundation that will undoubtedly reflect in how we serve our customers.

Taking Serbia back home

As the offsite came to an end, we left Serbia with full hearts and renewed energy. The bonds we formed, the memories we made, and the lessons we learned will carry us through the challenges and triumphs of the year ahead. Until next time, Serbia! Hvala (thank you) for hosting the Chaser team in such a spectacular way. Here’s to more adventures, growth, and success together.

Future outlook

2024 Highlights and milestones on the go

1. Advancing AI and ML in receivables management
   In 2024, we began embedding Artificial Intelligence (AI) and Machine Learning (ML) into Chaser’s solutions, transforming how businesses manage receivables. These technologies are now empowering our users to predict payment behaviors, optimize collection strategies, and act preemptively to reduce late payments.
2. Prioritizing accessible data
   We made significant strides in enabling real-time insights into receivables. By providing actionable data, we’ve empowered businesses to make informed decisions, mitigate risks, and foster stronger customer relationships through transparency and tailored communication.
3. Automating for efficiency
   Automation has been a cornerstone of our efforts this year. From streamlining manual credit control tasks to implementing intelligent workflows, we’ve liberated teams to focus on strategic activities that drive business growth.
4. Global expansion and enhanced capabilities
   Chaser grew its global footprint and expanded its offerings with new features, refined user experiences, and targeted solutions tailored to the evolving needs of businesses worldwide.

Looking ahead to 2025

Our vision: Innovation and impact 

Building on the momentum of 2024, we are setting our sights on even greater accomplishments in 2025.

• AI and ML Evolution
  We will deepen our commitment to leveraging AI and ML technologies to deliver smarter, more intuitive receivables solutions. Expect dynamic tools that not only adapt to payment trends but also enable proactive credit management.
• Enhanced Automation
  Chaser will continue automating repetitive tasks, enabling businesses to achieve unprecedented efficiency while freeing credit controllers to focus on client relationships and strategic planning.
• Localized Solutions
  As we grow, we remain committed to understanding the unique challenges faced by businesses in different regions. From multilingual support to industry-specific features, Chaser will deliver solutions that align with diverse customer needs.
• Sustainability and Security
  In 2025, we’ll emphasize sustainability and data security. Our SOC 2 compliance initiatives and ongoing commitment to safeguarding client information reflect our dedication to operating responsibly and ethically.

Acknowledgement: Gratitude to our community 

None of our achievements would be possible without the collective effort of our clients, partners, investors, and the phenomenal Chaser team.

• To our team: Your dedication, creativity, and passion have been the driving force behind our innovations. Thank you for making Chaser a place where bold ideas flourish.
• To our clients: Your trust and feedback inspire us daily. We are honored to support your success and remain committed to exceeding your expectations.
• To our partners: Your collaboration fuels our growth. Thank you for standing with us as we scale new heights together.
• To our investors and stakeholders: Your belief in our vision has enabled us to invest in innovation and build for the future.

The journey ahead

As we turn the page to 2025, we invite you to join us in shaping the future of receivables management. Your insights and feedback are invaluable as we continue innovating and refining our solutions.

Feel free to connect with me at sonia.dorais@chaserhq.com or via LinkedIn: Sonia Dorais.

Together, let’s make 2025 a year of progress, partnership, and prosperity. On behalf of the entire Chaser team, I wish you a joyful and successful year ahead.