YayPay by Quadient, a leading accounts receivable (AR) automation solution, announced today a partnership with Sage, a global leader in cloud business management solutions. The partnership aligns YayPay with one of the world’s leading providers of business management and financial technologies, providing small and medium-sized businesses access to YayPay’s comprehensive AR automation solution and services through existing Sage account relationships.
YayPay’s software-as-a-service (SaaS) solution will be offered on the Sage Marketplace, a web-based application listing both resale and referral independent software vendor partner applications that integrate with Sage cloud products. Sage Marketplace allows companies to discover, use and manage business applications in one site.
With the addition of YayPay to the Sage Marketplace, U.S.-based Sage value added resellers (VARs) may order YayPay on behalf of their customers. Products available on the marketplace are certified by Sage. Initially, Sage VARs that carry the Sage X3 product line will have access to YayPay. Additional Sage products and geographies will be added over time to leverage Sage’s global footprint and provide its customer base with YayPay’s AR solution.
Rob Sinfield, vice president of product for Sage X3, said: “Businesses across the globe are being challenged by the ever-changing macro-economic environment, and they are ensuring their businesses are innovative, resilient and responsive to financial changes. Sage recognizes the increasing importance of this for our Sage X3 clients operating locally, regionally and globally. Growing medium-sized businesses are realizing the potential to reimagine internal financial credit and collection operations using business cloud applications coupled with emerging technologies like AI and data analytics. Our customers are looking to continue to thrive and retain their competitive advantage through the adoption of new capabilities, such as integrated AR automation tools, intelligent communications and self-servitization.”
YayPay identifies credit risks and helps reduce potential losses from bad debts. Driven by data, the solution automates the entire AR collections communications process, from customer communication and payment reminders to cash collection and credit risk assessment, reducing errors and boosting productivity. On average, companies using YayPay achieve a 34% reduction in Day Sales Outstanding (DSO), or “debtor days,” and a 3x increase in productivity. With more than 3,000 users worldwide, YayPay’s customer base has more than doubled over the last 12 months.
YayPay founder and CEO Anthony Venus said: “We’ve been on an incredible journey of growth and development as we expand our network of partners and clients. Earlier this year we were recognised as a leader in the IDC MarketScape report for midmarket SaaS AR automation. Our new partnership with Sage will help us to build on our position as the fastest growing AR automation software company.”