Creating Aging Reports Manually? It’s Time for Automation

From eliminating redundant tasks and busywork to streamlining processes to improving forecasting across the organization, enterprise resource planning (ERP) solutions provide companies with a wealth of benefits. ERP systems store all sorts of data that’s relevant throughout the organization in one central repository, making it easier for business units to find the information they need.

No matter how nice they might look on your balance sheet, you can’t grow your business with unpaid invoices.

For many professions, including credit, collections, banking and others, it’s conference and trade show season, which means you’ll probably attend one or more events over the summer. The largest conference in the credit and collection industry, the NACM Credit Congress and Expo, is coming up on June 10-13 in Phoenix, and YayPay is excited to attend and support the show. 

YayPay will be exhibiting at this year’s NACM show, demonstrating our new payments module – and giving away money…that’s right, we are drawing a card to give away $500 to a lucky individual who stops by our booth during the show, so come see us at Booth #140 while you’re there. 

All businesses need cash to keep their doors open. When money is tight, simply covering recurring operating expenses can become difficult enough on its own.

Recently, Anthony Venus, CEO and Co-Founder of YayPay, was a guest on Nathan Mersereau’s Day in a Canoe podcast, an online segment about creating the life that you want – and one that’s filled with wealth, wisdom, meaning, and purpose. In the podcast, Anthony talks about the journey to creating YayPay, how accounts receivable teams can find efficiencies in workflow. Here are highlights of their conversation.

Cash flow is a serious problem for many businesses. In fact, one study found that 82% of companies that were forced to close their doors attributed their downfall to cash shortages.

A great partner relationship is based on trust, knowledge exchange, and shared values.

YayPay is building a partner channel that allows partners to deliver best-in-class accounts receivable automation to their clients. We already have multiple types of partners we work with, including value-added resellers, ERP original equipment manufacturers, accounting firms, and system integrators. Our founders understand the strength and value of partnering, and are building the company around the fundamental belief that partners are the key to growth and happier customer engagements.

YayPay's commitment to partner relationships was further recognized when Liz Anderson, Vice President of Marketing at YayPay, was named one of CRN’s 2018 Women of the Channel for the second year in a row. 

Accounts receivable management is at the core of your ability to operate continuously, even though it’s on the back end of business management. Sales are visible and at the forefront of reporting and key performance indicators (KPIs), but if you don’t realize the proceeds from transactions, your business could be at risk. By tracking accounts receivable turnover ratio as a key KPI, you’ll always know where you stand and when it’s time to sound the alarms to avert a cash crisis.