YayPay Eyes Disruptive Tech For AR PYMNTS.com


When a company doesn't pay a supplier when it's supposed to, it can be next to impossible to collect that money. Accounts receivable processes were designed to keep the bill collecting organized, but today, with B2B payment terms expanding longer and longer, AR has risen, out of necessity, into a more strategic part of the enterprise. For companies large and small today, the first step in strategizing the AR department was to digitize and automate: offer electronic invoices, support electronic payments and enable automated process management. But Anthony Venus and Eugene Vyborov, CEO and CTO, respectively, of AR solutions provider YayPay, say that accounts receivable is ready to take the next step in technological advancement. "Tons of companies are heading over 100 days sales outstanding, which is a huge number, to be honest," Vyborov said.