Quadient has announced that YayPay, its recently-acquired Software-as-a-Service (SaaS) accounts receivable (AR) automation platform, has been named a Market Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Automation Applications for Midmarket 2020-2021 Vendor Assessment report.
YayPay is part of Quadient’s Business Process Automation offer, complementing its cloud-based platform Quadient® Impress, a multichannel document automation solution for small and medium businesses. YayPay was previously named a Major Player in a similar IDC MarketScape report issued only two years ago. While IDC’s MarketScape vendor assessment reported a 59% year-over-year growth in the number of businesses planning to use a SaaS solution for AR in the next 12 months, YayPay has experienced more than a two-fold increase in its customer base of more than 3,000 users worldwide, outpacing the market.
Leveraging strong synergies with its Business Process Automation and Mail-Related Solutions activities, Quadient continues to expand support functions and integrate global sales channels for YayPay. The platform supports Quadient’s extensive base of more than a half-million customers through the digital transformation of AR processes.
“Being named a Market Leader by IDC comes as a result of our YayPay team’s commitment to innovation, including the use of powerful artificial intelligence and machine learning technologies, and we are proud of this achievement,” said Geoffrey Godet, CEO, Quadient. “This recognition by a reputed global market intelligence firm such as IDC continues to validate Quadient’s decision to acquire YayPay to expand our portfolio of Business Process Automation solutions into accounts receivables. I am proud of this new demonstration of the successful disciplined execution of our Back to Growth strategic plan.”
YayPay’s software platform automates and simplifies the entire AR process, from customer invoice generation, distribution and follow-up, to cash collection, credit risk assessment and order-to-cash process, freeing up valuable staff resources, improving cashflows, eliminating errors and strengthening overall employee and customer engagement.
An excerpt of the IDC MarketScape report (doc # US47032320, December 2020) can be found here: https://www.yaypay.com/idc-marketscape-leader-2021.