Quadient (Euronext Paris: QDT), a leader in helping businesses create meaningful customer connections through digital and physical channels, announced today the launch in France of YayPay by Quadient, a cloud-based intelligent accounts receivable (AR) solution that automates the entire AR process from credit to cash application. The YayPay expansion comes on the heels of the launch earlier this year of Quadient’s accounts payable (AP) automation solution, Beanworks, in France and the United Kingdom, as well as last month’s launch of Impress Distribute, its cloud-based omnichannel document distribution solution, in Germany.
Powered by artificial intelligence and machine learning, YayPay’s predictive analytics engine provides insights on payer behavior and their impact on cash flow, with the use of dynamic dashboards and process automation that help to reduce outstanding receivables and day sales outstanding (DSO) for companies. Acquired in 2020, YayPay is part of Quadient’s best-of-breed and cloud-based Intelligent Communication Automation (ICA) platform, which is bringing together customer communications management, financial automation, customer journey mapping and document automation. In 2021, Quadient software activities represented revenues of more than €200 million.
“As part of our Back to Growth strategy, we continue to invest in our ICA SaaS solutions, and I am delighted we are launching the YayPay solution in France,” said Geoffrey Godet, CEO, Quadient. “This is another significant step in the development of our international footprint in cloud-based financial and communication automation solutions. With YayPay and our other ICA solutions, we are supporting our customers and ready to help all businesses in a strong regulatory environment that is accelerating their digital transformation.”
In a survey of French businesses conducted by OpinionWay in June 2021 for Quadient, 26% of respondents indicated the management of disputes and outstanding invoices is the most time-consuming task for their teams in the billing-to-payment process. The survey also found that 32% of companies surveyed were performing these tasks manually. YayPay simplifies debt collection to not only free up resources but also to improve cash flow, eliminate errors and strengthen customer and employee relationships.
“With the 2024 dematerialization law, new electronic invoicing and data transmission requirements will apply to business-to-business transactions. By offering YayPay and Quadient Impress together, Quadient is perfectly positioned to support companies in meeting these requirements with simplicity and efficiency,” said Benoit Berson, COO of Quadient France and Benelux.
Since its integration into the Quadient portfolio, YayPay has continued to grow, now with more than 3,000 users worldwide. In 2020, one-third of YayPay clients also used Quadient’s mail-related solutions. In 2021, two-thirds of new customers of Quadient’s ICA business had already been using the company’s mail-related solutions, underscoring the strong complementary relationship of the two offerings.
Source: Company Press Release
