NEW YORK, Nov. 5, 2019 /PRNewswire/ -- Today, YayPay launched a breakthrough new product functionality with Predictive Collections Communications™.
Using machine learning and predictive algorithms that evaluate the context and language of an inbound customer email, YayPay now prioritizes requests made by customers during the collections process and recommends actionable next steps for the collection specialist. Traditionally, accounts receivable (AR) specialists navigate manually through emails and workflows to manage common collections requests. YayPay centralizes email communications, and action can be taken directly from the email in the portal. Suggestions are made for taking action based on the email content. For AR teams, this intelligent system cuts invoice processing and dispute response time in half.
"YayPay has brought us transparency in AR, which helps us approach invoicing as an opportunity to talk to the customer about their experience and potential future business," said Rob Castenda, CEO of ServiceRocket and YayPay customer. "Predictive communication can go a long way in helping us improve the customer experience at scale."
Smart AR for smart teams
The predictive collections communications functionality provides a smarter, more efficient experience for AR teams with:
- Priority setting that allows AR specialists to know which messages and actions require urgent attention. This enhances the speed of customer engagement and ensures that responses do not get lost or forgotten.
- Responsive suggestions at the bottom of the email that remove any guesswork for the AR specialist. Based on the content of the communications, suggestions are provided for taking the next step.
- Action buttons across the top of the email that allow the AR specialist to instantly call the customer, generate and send an invoice, exclude a customer from a workflow, or link the email to another message.
- Labels at the top of the email which indicate the keywords that drive a specific response. This allows for data collection and analysis over time, highlighting areas of improvement as well as performance.
A smarter customer experience
"YayPay's new Predictive Collections Communications™ is another significant step towards the digitalization of the finance back office. We see a future of work where AR teams spend less time on collections and communications tasks and more time building meaningful customer relationships," said Anthony Venus, co-founder and CEO of YayPay.
YayPay is an AR software that simplifies the collections process and improves the invoicing experience by providing real-time visibility into the AR pipeline. Using modern workflow tools, automated communications outreach, and machine learning algorithms that analyze transactional and behavioral patterns, YayPay provides modern credit and collections teams assurance of when and what will be paid, so their business can grow and operate with ease.
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SOURCE YayPay Inc.