When it comes to running a successful business, staying on top of your accounts receivable is critical. How you handle AR management can lead to increased revenue, or huge financial problems (if done poorly). Joining Scott to explore all of this on this week’s PayPod episode is Nicole Dwyer who is the Chief Product Officer at YayPay.
YayPay helps business stay on top of their AR management. The goal of YayPay is to make collecting money fast, easy, and highly predictable. The key to YayPay’s success is in how they help businesses stay ahead of (and manage) late paying customers, as well as collections. This commitment to quality AR management can directly impact the bottom line of companies using YayPay.
Listen in to hear more about why it’s so important to manage AR!
Payments Industry Insights In This Episode:
- What YayPay does for businesses.
- Why quality AR management can have such a positive impact on a company’s bottom line.
- Which businesses tend to struggle with staying ahead of AR.
- How YayPay can help businesses track late payments.
- What the future of AR management, and YayPay is.
- With a whole bunch more!
Featured on the Show:
- Connect with Nicole Dwyer: LinkedIn
- Connect with YayPay: LinkedIn — Twitter — Facebook — YouTube
- Connect with the Show: Facebook | Twitter
- Subscribe to the Show: iTunes | Google Play
Payments Industry Spotlight: YayPay
Headquartered in New York, YayPay has employee across the U.S. with additional locations in Detroit, MI and San Francisco, CA. It was co-founded in 2015 by Anthony Venus and Eugene Vyborov, YayPay functions as an easy-to-use, cloud-based predictive accounts receivable automation solution that leverages machine learning and automatic payment communications to accelerate collections.
YayPay’s flagship product launched in January 2017. Since then, they have helped businesses collect hundreds of millions of dollars. YayPay customers report 3 times human efficiency gains. Collectors are able to handle more invoices than ever before with the help of powerful automation. In fact, after using YayPay, their customer’s payment speed has increased on average by 34%.
All of this innovation helps finance and AR teams to eliminate and streamline the manual effort associated with following up on late invoices and reporting on AR metrics. YayPay integrates with multiple accounting, ERP, billing, and CRM applications, for a complete look into the collections process, and helps organizations better predict cash flow and increase revenue. YayPay makes collecting money, fast, easy and highly predictable.
Small Business Organization of the Week: Small Business Association for International Companies
If you’re an entrepreneur, small business owner, or just working in a small business, you’ll inevitably run into challenges as you work to grow. You also could benefit greatly from connecting with others in your niche, or just having some extra guidance. With that in mind, we want to honor organizations that are bringing business owners, future business owners, and even employees from many different areas together.
That’s why every episode we recognize and award a small business organization or group of the week. We also look to PayPod listeners to give us nominations. If you have an organization in mind, send us a message on social media (or email) and let us know!
This week, we’re happy to recognize the Small Business Association for International Companies or SBAIC.
Small Business Association for International Companies (SBAIC) is a membership organization established to promote the meaningful utilization of U.S. small businesses at U.S. government agencies providing foreign assistance, such as the: U.S. Agency for International Development (USAID), Millennium Challenge Corporation (MCC), Overseas Private Investment Corporation (OPIC), and the U.S. Departments of State, Defense, Health and Human Services and Agriculture.
SBAIC currently has over 200 small business members spread across nearly 25 U.S. states, of which more than half are small disadvantaged businesses (such as HubZone, minority-owned, woman-owned, veteran-owned). Their members work in every development sector, including agriculture and food security, democracy, human rights and governance, economic growth and trade, education, environment and global climate change, gender equality and women’s empowerment, global health, science, technology and innovation and working in crisis and conflict. With an average of 15 years of U.S. federal government experience, each of their members brings a wide range of expertise in business intelligence and analytics, capacity building, disaster response, economic development, education, gender analysis, IT, knowledge management, public financial management, tourism, and workforce development.
Huge congrats to them on their selection and if you’d like to learn more about them, or even join, you can find them online below.