Wednesday 15th September, 2021
Yooz has announced the launch of YoozPay a new add-on to completely automate the digital invoice payment workflow. With YoozPay, companies of any size can onboard and pay vendors directly inside the Yooz platform and generate valuable cash-back as a recurring revenue stream.
With YoozPay as an integral part of the Yooz digital invoice payment workflow, the AP team simply has to complete three steps: select an invoice, specify the full or partial amount to be paid and select a payment method. YoozPay automatically handles the rest, from paying batches of invoices and following an automated or manually defined payment schedule to ERP reconciliation. If a vendor chooses to be paid by virtual credit card, payment is executed instantly. These purely digital credit cards provide higher security, a more granular audit trail and generate a recurring revenue stream through cash-back.
“The business disruption caused by the pandemic has demonstrated that companies need to accelerate their digital transformation and embrace automation to stay in business and remain competitive. With YoozPay, they now have another powerful tool at their disposal. It turns the AP function into a strategic asset that saves time and money, contributes to the bottom line and provides financial intelligence in real-time,” said Laurent Charpentier, COO and CIO of Yooz North America.
YoozPay powered by Checkbook has fraud detection built in at every level of the transaction process.