Cash is the lifeblood of your business, so don’t let your business bleed out!
Its 8am, your team has already reached out to you on three different occasions, your main accounting system is down and you still don’t have full visibility into how many days outstanding your clients in the west coast are delinquent in paying their invoices. You haven’t even had the chance to drink a sip of your coffee and your phone rings from your Director of Finance stating they need a DSO report update by 10:00am to present to the executive board. Not to mention, the heap of emails awaiting your inbox all requiring your ‘urgent’ response. Sound familiar?
All too often, you find yourself in the day to day trenches of juggling your operational, administrative and accounting responsibilities all whilst fire-fighting and performing detective work. You work fearlessly around the clock to ensure that the lifeblood of your business – your cash supply – is lucrative. With often little visibility into what’s really happening in the day of the life of an invoice, and a small team doing everything manually, you scramble through Excel spreadsheets, emails or any piece of information that will help you make sense of what may be happening with your book of business. With collectability down 38% since March, your DSO report shows you have unprecedented cash flow concerns. You are struggling with the stress and pressure of trying to be the ‘jack of all trades’ and keep the lights on in your medium sized business.
As you go about your day, you realize that the manual accounts receivable management, excel spreadsheet reconciliation and basic ERP software just won’t cut it. You feel like you’re ready to throw in the towel. You’ve tried to train your small team to do things with more agility and speed, but at the end of the day, manual work is time-consuming. You have no way to ensure invoices are being received by the intended recipient and your team spends hours calling to follow up on outstanding collections.
You think to yourself, there must be a better way. While many aspects of business – sales, inventory and operations, marketing and customer support – have all been updated and automated, the basic functions of managing money and cash flow have largely been ignored. You’re tired of wasting time and resources on the day-to-day cash collection process including emailing, calling, sending invoices, sending statements, reconciling disputes and so on.
There is a constant flow of incoming inquiries, receipts and requests, often in a combination of paper, voice and electronic forms. An ongoing stream of outbound communications in the form of invoices, collections notices and customer service responses add even more complexity.
Keeping it all straight is quite a task. Manual. Labor intensive. Detail oriented. Also, repetitive and exhausting.
Watching your business bleed out month over month isn’t sustainable long-term. It’s time to get your business to a place where you can go a day without feeling like the weight of the world is on your shoulders, and find a way to put your accounts receivable process on auto-pilot ASAP!
YayPay by Quadient – a SaaS-based predictive and automated AR management platform – helps financial teams perform better, manage receivables more efficiently, and get payments from clients more quickly. By integrating with your existing ERP, CRM, accounting and billing systems, YayPay combines real-time accounts receivables, analytics, and payment predictions to help businesses increase and accelerate cash flow. YayPay empowers businesses to make smart decisions with simple, elegant displays and straightforward dashboards – a single source of truth. It includes pre-built, certified integrations with the most commonly used business applications such as ERP, billing and CRM applications providing the most complete view of your customers’ accounts. Whether you need data for the boardroom or day-to-day AR management, YayPay by Quadient gives you the time to plan and the information to act.