Payference, an all-in-one cash management platform, reports impressive growth, along with a rebrand. In the past three months the company has doubled the number of registered new users, the volume of collection activities, and payments.
Payference CEO Prashant Kumar is pleased with the trajectory of the business. “We set out to help CFOs and finance teams working at dynamic mid-size companies. They have the same need for the AI-powered automated technology that larger organizations are able to leverage but on a smaller scale. We offer them uncomplicated cash control with all the functionality they want and none of the extras they don’t,” says Kumar.
Instead of data assembly taking days to complete, finance teams use Payference to capture cash inflow and outflow in real-time. Updated cash positions are available at any moment in time. These immediate insights allow for improved management of working capital and facilitate more accurate forecasting. Additionally, the platform replaces many of the tedious and error-prone manual tasks with automated ones.
“Not only does Payference help customers save time and free teams to focus on higher value initiatives, the AI-driven platform speeds up collections, identifies high risk accounts, predicts payments, prioritizes payables, optimizes payment methods and terms, reconciles payments with bank transactions and integrates seamlessly with the customer’s ERP/accounting system, banking and payment channels,” says Vikas Panwar, CTO of Payference. The solution is scalable and allows for tracking cash flow across multiple sources, including different currencies.
Customers agree that Payference offers them a valuable product for cash management all in one place. "It's an excellent cash flow management tool. Payference has given us the ability to run cash reports on a real-time basis so that we can make accurate cash transfer decisions and allow us to manage our working capital carefully. Also, Payference provides outstanding customer support!,” says Karen Wright of ShouTi.
About Payference
Payference is an AI-driven platform that helps CFOs and finance teams optimize working capital and forecast cash better by providing them with accurate cash positions in real-time. Learn more about Payference’s all-in-one cash management tool by visiting www.payference.com.