Very few events are as synonymous with the payments business as TRANSACT, an annual conference hosted by ETA that has been kicking for the past 27 years. As a single source of contact for all things payments-related, TRANSACT brings together startups, investors and finance players for a three-day event that explores every facet of the fast-evolving payments industry.
Yaypay was thrilled to be named as a top-ten finalist for the ETA Pitch Off, a live Shark Tank-style competition that features some of the industry’s fastest growing companies. Yaypay VP & Chief of Staff Manoj Jonna was in the presence of elite company last week when he took the stage to pitch the real-time accounts receivable software that has already left its mark on the industry.
It’s often said that perfecting your pitch is one of the keys to success for any startup. Jonna has had plenty of practice recently as he’s traveled across the country showcasing the power of Yaypay, a powerful back office SaaS that applies automation, machine learning and AI to accounts receivables operations. Combined, these forward-looking tools allow accounting teams to accelerate collections, boost worker productivity, improve customer relationship management, and predict cash flow with greater accuracy.
Pitching to 9 Industry Leaders
“Nothing can quite prepare you for the ETA Pitch Off,” Jonna says after facing nine judges from some of the industry’s biggest companies. “I was confident that the judges would appreciate Yaypay for its proven ability to accelerate cash inflow by up to 30%. The feedback we’ve received so far from investors, tech enthusiasts and early adopters has been nothing short of phenomenal.”
Jonna is referring to the fact that Yaypay customers have already reported a 30% reduction in Days Sales Outstanding (DSO), which refers to how long businesses get paid for a product or service they’ve already delivered. A 30% reduction to a standard 60-day DSO means businesses get paid 18 days faster. That’s an extra 18 days of increased productivity and reliable cash flow.
Earlier this month, TechCrunch announced Yaypay’s newest cash prediction technology, which allows companies to accurately predict cash payments for specific customers up to eight weeks into the future. The announcement helped catapult Yaypay into the top 600 companies worldwide, according to Crunchbase, which provides a complete leaderboard of the world’s top enterprises ranked by recent activity, funds raised and overall connections made.
The latest TRANSACT event reminds us that the future of the payments industry is bright and full of potential. Yaypay’s participation as a finalist in the ETA Pitch Off is both an honor and a testimony to the hard work the company’s visionaries have put into the platform.