Independent Consulting Study Reveals Strong Total Economic Impact for Users of Accounts Receivable Automation Solution YayPay by Quadient
Milford, CT (Sept. 17, 2021) – Quadient, a leader in helping businesses create meaningful customer connections through digital and physical channels, is pleased to announce that it has published a study conducted by Forrester Consulting, part of a leading global research and advisory firm, showing that YayPay by Quadient, an accounts receivable (AR) management and automation solution, can help reduce days sales outstanding (DSO), improve the customer experience, accurately predict cash flow and reduce lost revenue, with a return on investment (ROI) for a composite customer of over 400% over three years.
YayPay by Quadient is a software-as-a-service (SaaS) predictive and automated AR management solution and is part of Quadient’s Intelligent Communication Automation (ICA) portfolio. Quadient’s cloud-based ICA platform is uniquely positioned to help businesses accelerate digital transformation and scale up and down as their communication and invoice volume levels evolve with changing business needs. Quadient’s ICA platform has a comprehensive offer that includes solutions for accounts payable (AP) automation and management, customer communications management (CCM) and document automation, and customer journey management.
The Forrester Total Economic Impact™ (TEI) study was commissioned to examine the benefits businesses realize by deploying YayPay. Key benefits for YayPay users, according to the study, include:
- Improved AR workflow automation and team efficiency by 25%
- Reduced legacy costs
- Reduced days sales outstanding (DSO) by 25%
- Improved customer service experience.
To produce the study, Forrester interviewed YayPay stakeholders and decision-makers at businesses using YayPay. Forrester then designed a composite organization to model YayPay’s Total Economic Impact for its customers.
“Prior to using YayPay, some customers used spreadsheets exported from ERP modules to manage their accounts receivable processes, particularly around collections and ensuring invoices were being paid. Some were using legacy AR systems,” according to the Forrester TEI study. “These manual systems left customers unable to deal with rapid increases in the number and complexity of invoices each year.”
Forrester found that by deploying YayPay’s platform, the composite organization saved 16 minutes each time it collected on a B2B payment by the second year of using YayPay (11 minutes in year one), avoided hiring seven AR staff, and reduced write-offs. In total, the AR-related cost savings achieved by the composite organization was $815,000, in part generating an ROI of 403%.
“We believe Forrester’s objective and thorough study on the impact that YayPay customers can expect from our platform is vindication that we are transforming the way finance teams work,” said Anthony Venus, chief strategy and product officer, Accounts Receivable Automation at Quadient. “Businesses today face the challenges of a rising number of invoices each year, increasingly complex sales cycles and invoicing, and forgotten invoices. YayPay, powered by AI and machine learning, combines real-time AR, analytics and payment predictions to help businesses increase cash flow while improving team efficiency and productivity.”
To download the TEI study, visit www.yaypay.com/forrester-tei.
Quadient (Euronext Paris: QDT) is the driving force behind the world’s most meaningful customer experiences. By focusing on three key solution areas, Intelligent Communication Automation, Parcel Locker Solutions and Mail-Related Solutions, Quadient helps simplify the connection between people and what matters. Quadient supports hundreds of thousands of customers worldwide in their quest to create relevant, personalized connections and achieve customer experience excellence. Quadient is listed in compartment B of Euronext Paris (QDT) and is part of the CAC® Mid & Small and EnterNext® Tech 40 indices. For more information about Quadient, visit www.quadient.com.
Source: Quadient via Sterling Kilgore, Inc.Tags: automation, Quadient, Software as a Service (SaaS)