Repaymi automates the accounts receivable process by utilizing AI to optimize communication timing and channels for invoice collection, ensuring a respectful approach that maintains customer relationships. The platform addresses the challenge of slow cash flow and high bad debt rates by enabling businesses to collect payments efficiently, with no upfront costs and a pay-per-success model.
Funding
Funding not disclosed
Founders
Product
Problem
Many businesses struggle with slow cash flow and high bad debt rates due to inefficient accounts receivable processes. Traditional methods of invoice collection are often time-consuming, manual, and can strain customer relationships. The complexity of managing numerous outstanding invoices further exacerbates these challenges, impacting working capital and overall financial health.
Solution
Repaymi automates the accounts receivable process, leveraging AI to optimize communication strategies for invoice collection while maintaining positive customer relationships. The platform analyzes invoice data to determine the optimal timing and channel (SMS, email, WhatsApp) for sending reminders and personalized messages. By connecting to accounting software via API or accepting data uploads via Excel, Repaymi streamlines the entire collection process from start to finish. The system also offers customers various online payment options, adapting to their device and preferred method, and provides a channel for customers to contest invoices, protecting the brand's reputation.
Target Audience
Repaymi targets businesses of all sizes, including both B2B and B2C, that seek to improve their accounts receivable process, reduce bad debt, and maintain positive customer relationships.
Features
- AI-powered communication timing and channel selection for personalized invoice reminders
- Omni-channel support across SMS, email, and WhatsApp
- Integration with accounting software via API and support for Excel uploads
- Online payment options, including credit card, Google Pay, and Apple Pay
- Customer portal for disputing invoices and providing proof of errors
- Automated reminders for small unpaid bills
- Installment payment options for debtors
- Analytics dashboard for receivables