4 Value Added Benefits of Integrating NetSuite with YayPay

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NetSuite is a great tool. But without proper AR automation software, you’re not unlocking its full potential. This is because it was not designed with the specific requirements of accounts receivable.

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At YayPay, we’ve listened to customer feedback, studied industry reports, and done our own research to understand what organizations need to get the most out of their ERP. We have used all of this information to inform our design of YayPay, an automated accounts receivable solution that integrates with and compliments NetSuite. This ensures that you can get the most out of both the tools.

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work from a single source of truth

Using YayPay, customers are able to perform all the necessary AR tasks from a single place. As the tool communicates directly with the ERP, invoice PDFs and customer notes are synced automatically, as are the appropriate customer and invoice level contacts. This eliminates the need for manual data entry, reducing the possibility of user error. This, in turn, helps teams avoid delays — such as invoice disputes — that can arise from something as simple as a typo.

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According to Sharespace, 61% of late payments are due to incorrect invoicing.

Similarly, information from within the AR software, such as payments and customer credit limits, is synchronized from YayPay back to NetSuite. This guarantees that your accounting team can see the latest customer activity, eliminates the possibility of unnecessary holds, and helps quickly identify accounts that are at risk of falling behind.

All this provides users with an unmatched level of transparency, eliminating data silos. It doesn’t just help AR teams function better. It also enhances customer satisfaction, thereby increasing the lifespan of the accounts.

Track data from custom AR dashboard

Having a single source of truth from which to operate is great, but it doesn’t make sense if you still have to spend a lot of time searching and manually analyzing customer information. After all, data without context is just noise.

YayPay provides users with a customizable, user-friendly dashboard containing all your accounts receivable information. Reports like Top Rated Buyers and Past Due Invoices can be displayed. Real-time DSOs, instant access to current, dynamic aging, payment forecasts, payer trends, and automated collection data allow AR teams to monitor the credit-to-cash cycle from end-to-end, quickly spotting bottlenecks and Identifies potential trouble areas.

“YayPay delivered instant value. Quickly identifying outstanding invoices and following up with customers armed with accurate, real-time information helped reduce our past due invoices. – Jaime Beadnell, CorneaGen, YayPay and NetSuite User in Billing and Collections Manager

Get total access with unlimited users

Some accounts receivable software goes out and charges you for things like adding additional licenses and paying you money with add-ons. YayPay understands that accounts receivable requires a team to be successful. That’s why we provide an unlimited number of users at no extra cost to the customers.

Finance, sales, customer success and senior leadership can be given access to the system so that all eyes are on the same data. It also allows organizations to have a growth mindset, knowing that expanding their team won’t hurt their bank account when it comes to using their AR solutions.

Keep customers happy and informed with personalized communications

Automation of accounts receivable processes is the key to success in a modern business environment, but companies still need to balance the benefits of technology with customers’ desire for a personal connection.

A survey by PricewaterhouseCoopers found that 75% of consumers believe businesses are losing the human touch when it comes to service.

YayPay allows you to leverage NetSuite data to create effective, personalized communications that enhance customer touchpoints and improve payment reliability. Collection communications such as payment reminders, invoicing, and internal escalation can all be automated, and tailored to the specific needs of the company that are being addressed. In fact, communication can even be personalized to specific positions within the company, so that the right message reaches the right person every time.

“YayPay instantly enables my team to view payable metrics for our customers’ days. This has been invaluable in providing insight into our cash flow, anticipating challenges and helping us make informed decisions on raising credit limits. – Eben Paul, Chief Financial Officer of Mammoth Carbon, YayPay and NetSuite User

Take Accounts Receivable to the Next Level

Together, YayPay and NetSuite help teams optimize their accounts receivable process, reduce days of sales (DSO) and increase cash flow while improving customer experience. It provides maximum return on investment (ROI) to the organizations. In fact, a study by Forrester Consulting found that YayPay generates an ROI of over 400% over the course of three years.

To see YayPay in action, sign up to participate in our free weekly demo.

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