YayPay announced today the launch of a fully upgraded enterprise-level accounts receivable automation platform. YayPay 2.0 will provide businesses with powerful tools including automated workflows, an intelligent CRM, and predictive cash flow analytics.
The collections process has historically been reactive, manual and time-intensive. Accounts receivable teams characteristically rely on spreadsheets, internal notes and ad-hoc processes to complete everyday tasks.
YayPay’s mission is to accelerate cash flow for businesses by equipping customers with the right automated tools to alleviate the burdens associated with collections and all aspects of the accounts receivable workflow.
“We built YayPay with an eye towards customer convenience. YayPay 2.0 integrates seamlessly with ERPs and customers are able to quickly manage the entire spectrum of their accounts receivables, and get paid faster,” said Anthony Venus, CEO of YayPay.
“We spent the last 12 months working closely with CFOs and design partners to create a solution that uses a unique combination of cutting-edge technology tools to reinvent an underserved back-office function,” said Eugene Vyborov, CTO of YayPay.
YayPay allows for the selection of the most appropriate workflows, keeps all notes and records accessible in the system, and allows email communication or a telephone call directly from the platform.
This smart automation enables finance teams to spend more time on the high touch customer service aspects of the job that are often under-done.
The new software delivers analytics on all of the leading indicators of cash and working capital insights to enable the CFO and Controller to better predict cash flow and align internal finance staffing resources.
The company has achieved a series of significant milestones in less than a year, including raising an angel funding round of $1 million, becoming a Netsuite partner and successfully completing the Techstars accelerator program in the spring of 2016.
YayPay has successfully closed a round of funding last year and is in the process of raising another round of capital.