YayPay opens up AR possibilities for LogMeIn
CUSTOMER SINCE: 2019
LogMeIn, Inc.’s category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe to do their best work simply and securely—on any device, from any location and at any time. A pioneer in remote work technology and a driving force behind today’s workfrom-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.3 billion in annual revenue and approximately 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia.
“The true competitive edge that YayPay has is the relationship they create with their clients. My team feels heard, feels appreciated, and we are active partners with YayPay. This results in success for both of us.”
LogMeIn was looking for a new partner to help them seamlessly handle a consistently growing invoice count and integrate with NetSuite. Their current partner had a static solution with no new releases or updates, and the team at LogMeIn wasn’t even sure whom to contact when they had questions or needed support.
“We were looking for a new partner who not only had a tight integration with NetSuite, but who we could establish a true partnership with. We are fortunate we started the search for an ideal partner when we did - we had no idea that COVID-19 was coming and how that would affect our business.”
The added challenge that Covid-19 brought was the shift many businesses had to make to handling all invoicing electronically. From 2019 to 2020, LogMeIn experienced a 26% increase in the number of invoices they are handling monthly.
The LogMeIn team decided to partner with YayPay by Quadient to manage their credit-to-cash process based on several factors:
- YayPay has a commitment to continuous improvement, so there have been frequent updates and releases to add value to the product on a regular basis.
- YayPay has a seamless integration with NetSuite, creating a more powerful solution for managing AR.
- The YayPay product team was open about sharing the product roadmap and receiving ideas and feedback from LogMeIn about how their needs could be better met.
- The user interface and customer portal were far friendlier and easier to use than the Salesforce.com interface they had been working with prior.
- The customer support team at YayPay is highly responsive.
Since fully implementing and integrating YayPay with NetSuite in late 2019, the LogMeIn team has enjoyed working with a partner who includes them in product discussions and is responsive to their questions.
In addition, they’ve seen the following results:
- A 26% increase in monthly invoice volume when Covid-19 hit has been managed flawlessly with no additional headcount.
- Despite increased volume and flat headcount, DSO was reduced by ½ day.
- Cash forecast has been beat every month in 2020.