If your company works with big clients, you might want to be able to predict what’s going to happen with your company’s bank account. YayPay is introducing weather forecasts, but for your unpaid invoices. This way, you know if it’s safe to commit to big projects.
YayPay first launched on stage at Disrupt London. The company wants to help accounts receivable teams when it comes to tracking who owns what. When you work with a ton of clients, it’s easy to lose track of the status of your invoices.
YayPay wants you to get paid faster and automates as many steps as possible. It integrates with existing ERP solutions and lets you collaborate as a team so that you can look at historical data.
With today’s update, the company is taking advantage of all the data it collects on your clients to help you understand what’s going to happen. For instance, you can look at invoices with an upcoming due dates and YayPay will predict when your clients are actually going to pay you with a percentage to indicate the confidence level.
YayPay can show you a graph of your cash inflows for the upcoming 8 weeks. You can also click on an individual client’s profile to filter out upcoming invoices for this specific client.
The startup looks at a customer’s payment habits and behaviors, uses machine learning so that it can predict the potential day of your payment. Accounts receivable teams won’t have to do as much guessing and will be able to focus on getting paid first and foremost.