Predictive Collections Communications Hacks Growth in the Back Office
What is manpower?*
Unlike horsepower (which is the ability to lift 550 pounds per 1 foot in 1 second), manpower isn’t something that’s constant. The learning capability of humans means our output isn’t just determined by our physical strength. What makes us smart, also makes us limitless.
This week, YayPay introduced Predictive Collections Communications™. This ground-breaking functionality further accelerates the processing of common tasks, ensuring customers benefit from a timely response. Using predictive algorithms that evaluate the context of a customer’s email, the AR specialist is presented with suggestions and pathways to take immediate action.
YayPay was founded on this idea of uncapped human potential in the back office. What we’re producing today doesn’t limit us from achieving more tomorrow. How hard we work today doesn’t mean it’ll be this hard forever. We can hack our input and output — we can hack growth.
Before this feature, our product has already been helping our Revenue Heroes in the back office streamline and automate AR workflow and access real time consolidated data. We’ve seen payment speed increase by 45% and companies quickly becoming cash flow positive, all with no additional headcount! Now we’ve taken it a step further.
The predictive algorithms and machine learning built into the system shortens decision time for AR teams. The time to act on these decisions is also reduced by actionable buttons on a centralized communications inbox – there is no need for the AR specialist to log into the individual customer accounts, or navigate to separate workflow processes in order to manage many common collections requests. As technology improves, the people involved in the process get smarter.
Humans have been hacking growth for as long as we have existed, and now YayPay is hacking growth for the AR back office.
May the potential of our Revenue Heroes never be capped.
*Not exclusive to men, of course.