Advances in technology have changed customer preferences and created a demand for customized services, more convenience, and faster delivery. Manufacturers work on very thin margins as a normal course of business. In addition, the manufacturing sector faces numerous AR challenges including slow payment processing, manual financial processes and lack of insight into working capital. YayPay can solve all these challenges and more.
Cash flow plays a crucial role in the success of any business. Wholesale distribution companies are facing global competition for the brands that they support and as a result of the pricing pressure, margins for products they sell are getting squeezed. Many times they act as the financing intermediary between manufacturers and suppliers. Wholesale distribution companies usually have large cash flow needs due to the fact that they often sell on account, which means partial payment for goods or services is deferred until a later date – delaying cash inflow. If inventory does not turn as quickly as anticipated, a distributor could have high levels of inventory and low levels of cash. Getting cash in the door as quickly as possible is critical and YayPay can solve all these challenges and more.
Software companies today are continuing to automate and integrate their solutions in the marketplace. However their own internal back office is often left behind. An AR department managing a SaaS or software service without an automatically recurring payment policy could be at risk for AR and cash flow issues. An AR solution like YayPay can help.
As more media purchases move online or to subscription modules, maintaining control of AR is essential. YayPay’s real-time updates and payor history helps businesses in this sector operate effectively.
Collecting on advertising services provided can prove challenging for lean firms with limited staff. Serving a variety of industries can also mean increased risk of nonpayment. YayPay makes it easy to manage your campaigns across brands and agencies with minimal headcount without compromising on quality and success.
Consultants and professional service businesses often complete entire projects before invoicing, which presents risk in collecting funds for services rendered. Cash inflow for these businesses is critical to the success and financial health of their business. Timely AR collections is crucial when managing dozens of projects over a multitude of clients. YayPay can ensure your business is successful and strong.
IT services often occur behind the scenes, and when executed well, will result in flawless business IT operations. This means business owners are more likely to take services for granted and to de-prioritize payments. Proactive reminders before a bill is due and prompt follow-ups once an invoice is past due will greatly reduce the DSO for an IT service business. YayPay makes AR management and collections easy.