Chaser, an accounting systems connector provider, has announced the acquisition of a cloud accounting platform Accounts IQ.
The integrated service will use credit control automation to support payment collection and reconciliation.
The partnership has reportedly already proved successful in “improving cash flow and reducing business administration”.
Designed to help businesses negate late payments, the acquisition aims to contend the 209% increase in late payments that have been recorded since the start of the Covid-19 crisis.
Chaser said: “Chaser’s integration with AccountsIQ helps businesses to reduce these late payments, by making it easier and faster for business owners and finance teams to chase payments in a friendly, non-robotic manner.
“Not only do business owners improve their chances of getting paid on time, but through automating the invoice chasing process, they also see significant time-saving benefits.”
Established in 2014, Chaser has since supported its clients in chasing over £3bn in overdue invoices.