CHALLENGE

Rachel Mariano’s original role was managing the accounts payable (AP) process. Over time, her responsibilities grew to include the management of AR and today, Rachel manages AP, AR, and a slew of other accounting duties. In her multifaceted role, Rachel found that she was spending too much time on the AR process, which was taking her attention away from other more important tasks.

“I spent an entire day each week manually contacting customers with overdue balances. I was using Google Docs to keep track of my customer communications and to manage the AR process. We realized we needed to automate our efforts to save time and improve collection speed.”

The ideal solution would help Rachel manage her week more effectively and work better with internal teams and the company’s customers. Rachel wanted the ability to immediately see which customers were at risk of missing payments and who to follow-up with as a priority. She also wanted customer account information to be centralized so that finance, sales, and management were using and acting on the same data.

SOLUTION

YayPay by Quadient has eliminated the manual work required to manage collections, with the only exception being when Rachel wants to personally reach out to customers who are at risk of missing payments. The unique selling point of YayPay in comparison to alternatives such as Tout App, was the ability to send customers dynamic statement links which provide them with the autonomy to view and settle their accounts.

“YayPay did exactly what we needed. We've saved time, saved resources, and improved collections at the same time. The days of hundreds of collections emails are gone. YayPay tracks all of my communication with customers so that our management and sales teams can easily find relevant information and take action.”

YayPay has established collaboration and cohesion in the accounts receivable process. Jumio’s teams are able to access the same information and work better individually and together when managing customer accounts. Jumio’s customers have a stronger insight into the state of their accounts and this has introduced transparency between company and customer, strengthening their interactions and deepening trust.

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RESULTS

Jumio has realized a clear improvement in collections speed, with DSO dropping by 24 days (29%) after automating the AR process using YayPay. In addition, the platform has helped the team save time and internal resources as well.
“Results were immediate”, Rachel noted. “In less than 30 days, we were able to get our internal team and our customers accustomed to the YayPay platform.” She added that “If you are a NetSuite user, absolutely go for YayPay. You’ll see the best results if your accounting and sales team embraces the platform together.”

ERP

NetSuite

CUSTOMER SINCE

2017

INDUSTRY

Information Technology and Services

Jumio is an online mobile payments and identity verification company that provides card and ID scanning validation products for mobile and web transactions. The company uses computer vision technology, machine learning, and live verification experts to validate payments. Jumio has verified more than 250 million identities issued by over 200 countries and territories from real-time web and mobile transactions.

 

Jumio is widely considered to be the largest and most accurate solution in the market and is used by leading companies in the financial services, sharing economy, retail, travel, blockchain, and online gaming industries.

Rachel Mariano, Staff Accountant
Rachel Mariano
Staff Accountant

Contact us today if you want to advance your AR like Jumio