YayPay is focusing on an interesting yet underserved niche — collecting payments from your customers. The startup is launching the second version of its platform today and now focuses on big companies with accounts receivable teams.
The company first launched on stage at Disrupt London exactly one year ago. At the time, the company wanted to help small and medium companies get paid on time. But it turns out that even big companies that have an accounts receivable team don’t have the right tools for the job.
YayPay is a software-as-a-service solution that automates as many steps as possible. It integrates with existing ERP solutions and makes it easier to collaborate. All notes and records are shared across the team, you can email and call your clients directly from YayPay.
More importantly, the platform can help you know more about your recurring clients. It’s a good way to get historical data to know if they’re good or bad citizens.
The service gives you an overview of what’s happening at any time, so you know if there’s a lot of overdue payments right now. The analytics tools can also help you if you need to figure out your cash flow in advance.
YayPay has raised $1 million from various business angels and is raising another round. This product is an easy sell as it can help you get more money on your company’s bank account, or at least more quickly.