Payference, an all-in-one cash management platform, is pleased to report that it has experienced accelerated growth over the past three months, enabling companies to collect over $3B in Accounts Receivable.
According to Payference CEO and Co-Founder Prashant Kumar, evidence of the fintech startup’s impressive recent growth is also represented by the following key metrics: The number of Payference daily active users grew by 4x to a total of 2,022 and the volume of collections’ activities and invoices have grown exponentially.
With Payference, finance teams in dynamic mid-size companies can enjoy the same kind of AI-powered automated technology that larger organizations are able to leverage. Companies’ using Payference have seen improved customer experience, received payments faster and have reduced time in managing the invoice-to-cash cycle. The platform speeds up collections, identifies high risk accounts, predicts payments, reconciles payments with bank transactions and integrates seamlessly with a customer’s ERP/accounting system, banking and payment channels.
Payference customers appreciate considerable time savings and immediate access to the data they need. Instead of data assembly taking days to complete, the cash management platform captures cash inflow and outflow in real-time which allows for improved management of working capital and facilitates more accurate forecasting. Additionally, the platform replaces many of the tedious and error-prone manual tasks with automated ones.
Payference customers have found that the platform delivers as promised. In a recent review of the company, one customer writes, “I like the fact that Payference has automated data assembly for cash flow forecasts. It gives me the ability to manage my cash forecast in an efficient way. By reducing the amount of time wasted in organizing ERP data, Payference gives me more time to focus on higher value and strategic items. AR risk scoring helps me to manage aged receivables. It was also very easy to implement.”
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. The solution is scalable and allows for tracking across multiple sources, including different currencies. Learn more about Payference’s all-in-one cash management tool by visiting www.payference.com.
