I recently had the pleasure of interviewing entrepreneur David Tuck, who shared with me insight into his business and also his journey from ACA to becoming a FinTech founder (which you can read here) .
Tell me about Chaser
Chaser is a transformative credit control software company. We’re just over 2 years old and target the larger end of SME’s, traditionally businesses who have one or more in-house finance people.
We’re great for businesses selling on payment terms that are exposed to the risk of “when are those invoices going to get paid” and potentially having to invest a lot of time manually into carrying out credit control as a process. We provide automated, customised software to help them deliver superior outcomes to what they are currently getting, more efficiently. We also provide insights into how and when their customers get chased and subsequently paid, providing our customers with the information required to support decisions on if/how they should approach selling on credit.
Our USP’s are the ability to automate and save time on processes, whilst improving your credit control outcomes and boosting your cash flow at the same time – All with a personal touch.
How did you go about building your team?
I spent a huge amount of my time on recruitment focussing on who meets the Chaser standard to join the team, which is so, so important because of the nature of what we do. The intellectual capital of us as a team is what determines our success and how far we can go.
How integral have your team been in the development of your business?
Phenomenally so – We as a company, are our team…are our people.
Your business was built to automate invoice chasing to boost cash flow, how is service being received?
Incredibly well – We have users in 40+ countries around the globe. It’s humbling for us to know that our software is making a difference the world over. We’re thrilled with the results and recognition that we’ve received so far.
You’re Xero’s Add-on Partner of the Year 2016, how did that come about?
We were selected as Xero’s Add-on Partner of the Year 2016 out of their 550 global eco-system of add-ons and we’re the third highest reviewed product across all of their categories and 550 businesses.
Your 2015 press release detailed a possible expansion into Australia, how is that going?
We raised venture capital and angel investment 2015, led by early stage tech VC funds (Sussex Place Ventures and Beacon Capital), as well as a couple of angel investors, Mark Poole (ex- Virgin Group FD) and also Craig Winkler (Founder of MYOB). The UK is our largest market in terms of customers and Australia is by far our second largest but half the size of the UK. Australia is Xero’s largest market so it’s given us the ability to launch ourselves there.
What does the future hold for Chaser?
Right now, our focus is on how we expand the level of chasing functionality that we can deliver. We’ve got some really exciting work going on at the moment to supplement; so email is conventionally the first line of attack from which people chase but telephone plays an incredibly valuable role as well. We are doing some exciting work to pilot how to help people make better and effective credit control telephone calls. We’re serving up more information and insights to the tip of our customers’ fingers about how their customers are actually paying them, so that they can continue to carry out credit control more effectively.
It’s about scaling not just in the UK but the world over in terms of all of the businesses that we can help carry out this process most effectively.
Chaser provides transformative credit control software for businesses who are exposed to the risk of selling on credit. Their online software enables businesses to automatically carry out the polite persistent chasing of customers that gets invoices paid on time. As well as providing important information about your customers, to help you make better credit control decisions. Chaser was recently named Xero’s Add-On Partner of the Year, from the 550+ add-ons available on the Xero marketplace.