According to Venus, account receivables lie at the intersection of finance and CRM, and it requires more functionality than that general ledger-centric ERPs offer. YayPay partners with several ERPs and accounting platforms such as Netsuite, Intacct, and Quickbooks through a well-documented API to provide enhanced functionality in account receivables management. Besides allowing ERP customization pertinent to the account receivables workflow–based on clients’ individual needs, YayPay provides automation across the workflow. CFOs, Controllers, Account Receivable Managers and collectors yearn for visibility in knowing the accurate time of receiving payments. To this end, YayPay predicts cash inflows by integrating with client’s receivables data source, which can be an ERP or accounting platform.
An ERP-agnostic platform, YayPay, allows users to set up automated workflows that send and track email communications to customers about payment while allowing manual intervention as required. YayPay’s dynamic Ageing Report provides users with optimum workflow for the day helping them to improve their pending payment collection process. “YayPay informs you of an ordered priority of customers to contact and what actions to take,” says Venus.
We provide comprehensive analytics that gives you the information you need to make decisions about working capital performance
“To illustrate, Sharethrough–a native advertising software company –had issues in managing their increasing receivables and collections with its small team. YayPay provided them with automation workflows, templated custom emails for clients, and a user friendly AR CRM. The result for Sharethrough is improved time efficiency and greater focus on accounts that need more attention.
Venus adds, “Our software improves business process efficiency and automates the AR process so your own finance team can spend time on the high value added jobs such as dispute resolution, calling large accounts and coordinating with sales.” “We also aim to lead best practice and benchmarking for AR as we provide consulting – training, receivables policies and manuals.”
“We rely on constant innovation driven by customer’s needs, so you can expect continual upgrades from us,” adds Eugene Vyborov, CTO, YayPay. “We excel at improving product usability and data-based decision making, workflows and cash predictions.” Vyborov has been working on machine learning applications for over 12 years and preparing for the company’s next major product upgrade. He is working on YayPay’s algorithms such as time series analysis, anomaly detection algorithms, natural language processing and segmentation algorithms. By leveraging machine learning, YayPay looks forward to optimize workflows and improve cashflow prediction.
With their passion for transforming accounts receivables and reinventing the back-office with smart technologies, Venus and Vyborov bring fresh perspectives and new approach to receivables management.