Predict Payment Behaviour with Digital Body LanguageEARLY ACCESS TAKE A TOUR
Late payments cost SMEs £717 billion globally, and 7.5% of payments are either never paid, or paid so late SMEs write them off (Sage 2017), but in some industries, late payments can account for up to 40% of invoices. That’s the equivalent of £53B being written off. Every. Single. Year!
SMEs have their own bills to pay, leading to further late payments in the economy, undermining supplier relationships, stunting growth, R&D and leaving staff short.
34% of SMEs report customers using their own negotiating position to delay or reduce payment. (Hitachi 2019)
88% of SME-owners worry about recovering money already owed to them. Reporting relationship problems, insomnia and anxiety, undermining their emotional wellbeing and productivity (Pay.uk 2019).
An estimated 1.95 million UK employees have been left empty handed on payday. (Hitachi 2019) and 50,000 UK businesses fail each year due to cashflow issues. (FSB 2019)
57% of SMEs could release an extra 52 days a year for productivity, instead of chasing late payments. (Hitachi 2019)
We believe business should be done with integrity, confidence and respect, from start to finish, and that includes getting paid on time! We are helping remove the stigma of chasing money, and making it not only reasonable, but an expected part of doing smart business. Our mission is to make sure you spend more time dreaming up ways to innovate and a lot less time lying awake worrying about surviving!
Never second guess your decision-making again. We've all ignored our gutfeel at some point, hoping we're wrong and then getting caught short.
When a red flag in your customers' online behaviour shows up, (e.g. client doesn't open invoice related emails) you will receive actionable recommendations on how best to manage the situation based on leveraged insights benchmarked against all payees.
By benchmarking against all payees, you benefit from the collective wisdom, identifying anomalies in customers' online behaviour early, and giving you the confidence to act fast to protect your cash flow, reducing late or non-payment.
We need to build the kind of economic landscape where anyone brave enough to start a business has the opportunity to thrive. We need to take extraordinary steps to stop normalising late payments as an acceptable way to conduct business. But to see measurable change, we need to come together in ways we never have before, to transition to a world where everyone gets paid on time, and late payments become the exception, not the rule.
If you are an Accountant or Bookkeeper, you can be truly instrumental in driving a real shift in payment behaviour by offering a credit control solution that is designed to empower your clients, and rewards you for being a changemaker. Inspiring them to act with confidence to fundamentally change the way they expect to get paid.
As complex as our objective is, we already have the power we need to create change, only if we stand together and act as one.
Standing in solidarity with your clients, could be the difference between them thriving, or merely surviving.learn more
The Intelligent Revenue App is the first credit control solution using AI capability to monitor digital body language to predict payment behaviour and provide actionable strategies to improve cashflow and reduce the time spent chasing outstanding invoices.
Using the invoice due date and your terms, the most effective communication schedule is implemented
Benchmarking against all payees, means we recognise anomalies in response rates faster and can take faster action
Automatically discover the interaction points that have the greatest influence on payment behaviour