Creating Aging Reports Manually? It’s Time for Automation

It’s not every day that we get a chance to showcase our intellectual capital and knowledge at a big event in front of tons of peers … but that’s exactly what YayPay is vying for on June 19.

YayPay is one of three finalists at ConnectWise Tech Tank Automation Nation 2018, June 18-20, 2018, in Orlando, FL. Tech Tank is a contest giving innovative developers the chance to live out their ideas on a big platform in an effort to inspire others, build a stronger ecosystem, and integrate with ConnectWise software to create a powerful solution.

The sooner your organization gets paid, the faster you can invest the money you’re paid into growing your business. On the other hand, when customer payments are slow to come in, you may experience significant cash flow problems that can make it much harder to achieve your business objectives.

The accounts receivable (AR) aging report is a critical tracking mechanism for cash flow planning. A basic AR aging report features total owed by client and then a breakdown into aging categories (30-60 days, 60-90 days, etc.) It’s a snapshot of which clients are in good standing and which are delinquent on their bills.

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.