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YayPay Breaking New Ground in Receivables Management Systems

     

YayPay Breaking New Ground in Receivables Management SystemsSerial entrepreneur Anthony Venus, co-founder and CEO of YayPay, knows a thing or two about running small businesses.

At his last company, Anthony saw how the sales, marketing, finance, and collections teams—all of which needed to use the same datasets—were relying on a patchwork system of CRM, ERP, automation solutions, and, of course, an incredible number of spreadsheets. As more and more deals came through, the collections team had more and more work on its plate. Unable to process an ever-increasing number of bills in a timely manner, the company’s growth stalled.

Venus knew there had to be a better way forward. So in 2015, he co-founded YayPay to innovate in the collection management space by creating a powerful receivables management system. Together with co-founder and CTO Eugene Vyborov, the YayPay management team started experimenting with workflows, artificial intelligence, and machine learning to see how they could streamline the collections process and give businesses easy access to the cash they needed to grow.

That experimenting paid off. Just a few years later, YayPay’s customers already enjoy a number of game-changing benefits:

  • A threefold increase in human efficiency
  • A 34% increase in customer payment speed
  • An integrated collection management system
  • A 10–20% cash flow acceleration
  • A 30% reduction in days sales outstanding

Simply put, YayPay is a receivables management system that was designed to help businesses regain complete control over their invoicing and collections processes. The accounting automation platform enables AR teams to free themselves from having to perform repetitive manual tasks over and over again. With more time on their hands, they can focus on other important aspects of operations.

YayPay’s comprehensive platform includes a number of features designed to make your accounting department’s life easier:

  • Intuitive design. First things first: Employees won’t use new technology if they can’t figure out how. This is why YayPay was built with an intuitive, user-friendly interface. In fact, YayPay was distinguished as a top user experience platform for accounts receivable software in 2017.
  • Integration. YayPay integrates with ERP and CRM systems, as well as other external data sources, simplifying workflows further while giving teams access to the data they need to make the best decisions.
  • Predictive analytics. YayPay makes it easy for accounting professionals to see which accounts have the highest priority. Gone are the days of crunching the numbers by hand and making decisions based on gut instincts alone.
  • Automated communications. Instead of sending collection emails by hand—including payment reminders, late notices, and internal escalations—YayPay takes care of all of these critical communications automatically. This enables accountants to reclaim a significant portion of their days, thus increasing productivity.

Companies big and small in all industries use YayPay to optimize their AR workflows and get paid faster—saving time and money without having to hire additional staff.

You don’t have to just take our word for it, either. There’s a reason YayPay was named one of the fastest-growing companies by Crunchbase, after all.

Need some more convincing that YayPay is right for you? See what our customers are saying:

  • “YayPay is a great source for AR to have all of your customers’ account information and history compiled. It’s definitely a company that is helping us better the way we do AR and collections.”
  • “We’ve been using YayPay for six months now and I can feel the huge impact on our collections process. Before, I manually sent out collection emails to various customers. With YayPay, everything is easy. I can also log calls to customers and send a link to them so they can pay us online.”
  • “Using YayPay cuts all my email time and allows me to work on other things. Without YayPay, I was spending hours on sending emails to customers. But now YayPay does all the work for me. We currently have more customers pay us faster because we have ongoing emails to them.”

To learn more about how your company can use YayPay to transform your accounting department, schedule a demo with us today!

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Anthony Venus

About the author

Anthony Venus Anthony co-founded YayPay in 2015 to fulfill the mission of making collecting money fast, easy, and highly predictable and to strive towards a vision of autonomous commerce. He is a multi-time entrepreneur and has lived and worked on five continents. He was co-founder and CEO of Meridian Equity Partners, a licensed financial and lending firm; Strategic Intelligence, an online publishing firm; and Marketshare, a data collection and market-research company acquired by Harris Interactive (AC Nielsen) where he also served on the global management team. Anthony’s career began at The Economist Group. Read more articles by Anthony Venus.

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