If your company is thinking of displacing your ERP due to specific functionality gaps, pause! These gaps may not be an issue with the ERP at all, but a need for enhancement, a positive shift from back office inefficiencies and the lack of live clarity into the health of your collections business.Read More
It is important for enterprise business owners to evaluate their account receivables (AR) management strategies, especially when operating with margin constraints. Your business may be growing and you must strategically sacrifice margins, or you may be in an industry with narrow margins in the first place. Sageworks research shows that certain industries even generate negative margins, with software publishers at -5%, beverage manufacturers at -3.7%, and manufacturers of semiconductors and other electronic component at -0.3%. Regardless of your industry, following the five payment strategies below will ensure the positive cash flow that will feed the success of your business.Read More
For many businesses, accounts receivable management and chasing down unpaid invoices are ever-present challenges that have a significant impacts on cash flow. It’s important to take the most efficient and effective approach by leveraging the communication style that’s most likely to drive an impact. Historically, that might have been using the phone to call, but not anymore. Read on to see why an email approach is more likely to get you the results you want: getting your invoice paid.Read More
Today, I am thrilled to announce that YayPay has secured $8.4M in Series A funding.
Led by Information Venture Partners, this funding round brings our total funding to date to $14 million. Information Venture Partners is a well-known fintech and enterprise SaaS investor that has backed many success stories across North America, including Adaptive Insights in the FP&A space, which was recently sold to Workday for $1.55 billion dollars. Rob Antoniades, Co-Founder and General Partner of Information Venture Partners, will be joining YayPay’s board of directors and he adds a great depth of experience in building early stage companies in the back-office finance space.Read More
Also fact: According to Cook Ross Inc., companies with the best record for promoting women outperformed industry revenue average by 46 percent.
Startups are notably difficult grounds for women founding companies and joining the workforce. This is especially so in fintech. As a fintech startup, we know that these are more than a matter statistics. Within our company, we know very presently that diversity has been tangibly beneficial to not just our performance, but our everyday interactions coming into the office and working together. However, we've also been aware just how much more room there is to improve. That's why YayPay has taken the ParityPledge to become part of the change toward gender parity in the workplace. Our founders are committed to creating a company with a workplace culture that encourages diversity, inclusion, and transparency. We hire and promote leaders that further this belief that all of our employees should feel safe bringing their whole self to work, and feel empowered to pursue growth uninhibited by aspects of their identity.Read More
Last week, we learned that you can reduce the delta between your Standard DSO and Best Possible DSO by improving your business’ AR policies and overall AR management. This week, we will dive into the strategies and the reasoning behind them.Read More
While Standard DSO measures current and overdue invoices, Best Possible Days Sales Outstanding (or Best DSO) measures only current invoices. Tracking the delta between Best DSO and Standard DSO will ensure that you are optimizing your business’ account receivable (AR) management practices and help identify opportunities to improve cash flow. Quarter-over-quarter or year-over-year reductions in this delta is a key performance indicator (KPI) of AR improvement - and the financial health of your company.Read More