In yet another indication that financial operations software is converging across key systems, we see this posting at Crowdfund Insider about a collaboration to create payables and receivables flows through a combined platform approach. The Swiss fintech Quadient has a receivables SaaS solution called YayPay, which it acquired in 2020, and will be partnering with Boston-based Flywire, a payments enablement and software company, to embed YayPay into the Flywire B2B solutions set.
‘As YayPay’s global presence and client base has increased, the requirement to offer accessible cross-border payments has also surged… Flywire’s B2B solution, which brings together an innovative payments platform, global payment network and vertical-specific software, will “embed into the YayPay platform.”…
In turn, Quadient’s clients are expected to benefit from flexible and dynamic payments solutions that “enable businesses to accept and settle payments in more than 240 countries and territories and in more than 140 currencies,” the announcement noted…
YayPay users are able to use Flywire when transacting globally and to pay using direct debit or electronic banking. They are also able to take advantage of Flywire’s foreign exchange market (FX) management and currency exchange, automated reconciliation and local collection and settlement.’
As we have called out consistently over the past few years, this convergence trend across cash cycle solutions has been bolstered by the increasing use of APIs to connect disparate systems, creating embedded finance opportunities that will increasingly dominate as more companies and banks move to cloud infrastructure environments. A top priority for companies across the globe is to continuously seek financial operations efficiency, minimize operational resources consumed by manual processes, and gain better control over the management of working capital through automation, rather than to extend payment terms (buyers) or increase collections activity (suppliers) through arbitrary decisions.
‘Flywire also brings greater transparency for YayPay users, who can easily “track when payments are coming in. For Flywire, the collaboration broadens the company’s reach into the strong B2B segment of the AR market,” the update noted…
YayPay by Quadient is a software-as-a-service (SaaS) predictive and automated AR management solution. It is part of Quadient’s portfolio of solutions that is “bringing together AR, accounts payable (AP), customer communications management (CCM), document automation and customer journey mapping (CJM) into an advanced cloud-based suite that offers companies the benefits of automation and intelligent communication.”
Overview by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group
