"Insights" is an exciting new feature that produces powerful data into how well "Fetch" is performing at collecting your payments. Having access to insights will help you manage your customers and get paid faster.
You can see the average number of days between sending an invoice and getting paid.
Average days = (invoice payment dates - invoice sent dates) / total number of invoices
Next, you have the average invoice amount.
Average amount = invoice amounts / total number of invoices
Finally, you can see the percentage of invoices paid in full and on time
Percentage on-time = invoices paid in full amount by the due date / total number of invoices
❗ Note that the “Insights” dashboard only considers completed invoices, not scheduled or in-progress invoices.❗
If a large percentage of your invoices are not being paid on time, you can take advantage of ipaymy's incentive toolbox and offer your customers financial incentives to encourage early payment or penalties for late payment.