Quadient Announces Acquisition of Major FinTech Company YayPay™, Specialized in Accounts Receivable Automation
Paris, July 29, 2020
Quadient (Euronext Paris: QDT), a pioneer in helping companies produce purposeful customer relations through physical and digital stations, announces today the purchase of YayPay, a best-in-class and rapidly expanding business in the forefront of SaaS accounts receivable (AR) automation options. The purchase of YayPay will enlarge Quadient’s Business Process Automation provide, especially simplifies its own cloud-based platform Quadient® Impress, a multichannel file automation platform for both small and medium companies.
As a part of its Back to Development plan declared in 2019, Quadient shared its goal to grab bolt-on acquisition opportunities that, collectively with organic growth in selected industry segments, could bring about scale the company’s leading offers. Expanding Business Process Automation’s portfolio to consideration receivable automation is just another demo of the disciplined implementation of the company’s strategic plan.
YayPay, based in 2015, supplies a blend of automatic statement delivery paired together with sets management, credit rating, payment and cash software solutions, providing a thorough cloud-based platform to over 3,000 users internationally. YayPay’s solution also unites real-time reporting using artificial intelligence to supply companies insight into prospective heirs behavior and how it affects their cash circulation, helping them decrease write-offs and Days Sales Outstanding (DSOs). YayPay is established in New York and also has a group of almost 60 individuals.
“The YayPay team has built the most innovative SaaS solution, relying on powerful artificial intelligence and data analytics technologies” additional Alyna Wnukowsky, primary solution officer, Business Process Automation solutions, Quadient. “This acquisition is an investment in both technology and people – we are excited to welcome a team to Quadient that brings with them significant expertise in the Accounts Receivable Automation market and a best-in-class SaaS platform.”
YayPay was recently set in the Important Player class of this 2019 IDC MarketScape on global SaaS and cloud-enabled accounts receivable software . “YayPay represents a crucial strategic piece of our overall portfolio and we are excited to offer this industry-leading financial technology to our customers to help them transform their accounts receivable processes. We welcome YayPay’s customers and look forward to helping the YayPay team accelerate their growth path by introducing the YayPay platform to Quadient’s extensive customer base, numbering over half a million.” stated Geoffrey Godet, chief executive officer of Quadient.
Industry forces in 2020 have accelerated the speed at which companies of all sizes are searching for ways to streamline business processes so that they can concentrate on large value tasks connected for their own growth. Quadient has been assisting its clients transform their business by utilizing electronic capacities to automate their business processes, using its top communications cloud system, Impress, and refining their conventional mailing tasks thanks to its hybrid solution. Quadient will add the YayPay platform for its own offering.
“We are thrilled to be joining the Quadient team and are looking forward to expanding YayPay’s solution even further with Quadient’s global footprint. Quadient is a strong strategic and cultural fit, aligned with our strategic vision to bring smart accounts receivable management to every business.” shelp Anthony Venus, co-founder and CEO of both YayPay.
Based on international market intelligence firm IDC, the SaaS Financial Software market, such as accounts receivable and accounts receivable software, is undergoing year-on-year double-blind expansion and has been valued at USD 11 billion in 2018. A current poll of Quadient clients discovered that 50% of files being processed via mailing equipment are bills or invoice-related, offering a pure link point with AR teams. The Quadient client base has also verified strong need for new Business Process Automation solutions. With many businesses bogged down with guide heritage administrative procedures, YayPay’s goal is to simplify the order-to-cash procedure not just to free up valuable personnel resources but also to enhance cashflows, remove mistakes and strengthen overall employee and customer participation. In the end, roughly one third of present YayPay clients are also Quadient email equipment clients, highlighting the powerful synergy between both customer bases.
In this closing of the transaction, Quadient possesses a c.87% majority stake in the parent firm of YayPay, together with the 2 founders becoming minority investors. Quadient includes a mechanism to boost its ownership up to 100% in the next several years.
The buy price, excluding transaction-related expenses, amounts to over €17 million1. The purchase will be financed completely in cash, without recourse to extra debt.
Quadient is the driving force behind the world’s most meaningful customer experiences. By focusing on four key areas including Customer Support Management, Business Process Automation, Mail-Related Solutions, and Parcel Locker Solutions, Quadient helps simplify the relationship between individuals and what things. Quadient supports thousands and thousands of clients worldwide in their search to generate relevant, personalized connections and attain customer experience excellence. Quadient is recorded in compartment of Euronext Paris (QDT) and can be a part of the CAC® Mid & Small and EnterNext® Tech 40 indices.
to find out more about Quadient, see quadient.com.
YayPay is a predictive AR automation alternative which leverages data and automated payment communications to hasten collections. YayPay provides real-time accounts info, calculates key AR metrics with a single click, and forecasts cash stream by Implementing machine learning algorithms. Integrated with numerous accounting, ERP, billing, and CRM programs, YayPay was made to construct a compact collections process to help organizations better forecast AR bill payment, handle client relationships, and boost earnings.
1 According to ECB’s €/$ exchange benchmark speed as at 28 July 2020.
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