Effective November 1, 2017, Patrick Falle has departed Avalara where he was Global Chief Evangelist and SVP Alliances.
His LinkedIn profile shows he was also a founding investor for Avalara and effective November 1, 2017, becomes Chief Revenue Office for YayPay.
YayPay is a predictive AR workflow service whose website says it integrates with any ERP, including Netsuite and Intacct.
The service helps the collection process by looking at open AR invoices and creating cash flow forecasts – all through integrations with existing ERP systems. The YayPay FAQ indicates payments from customers can be facilitated with their solution.
If I were to guess, YayPay might ultimately earn revenues through movement of money in two primary ways. The first being transaction fees from the collection of customer payments through automated collection notices and “click to pay”.
The second could be through connecting companies with lenders based on the results of cash flow forecasts.
From a post on LinkedIn:
I’m honored to be officially joining a Techstars company YayPay as the Chief Revenue Officer starting November 1st.. YayPay solves a major customer issue…cashflow. YayPay has an advanced AR module that significantly expedites collections and lends complete transparency into the AR cycle directly from a customer’s existing accounting system. It’s an advanced AI based AR module designed so help businesses of all sizes remove themselves from the cumbersome and inaccurate task of using spreadsheets to manage their receivables. #fintech is a great market to be in, and YayPay has a great opportunity to own the AR space.
Avalara has been rumored to be preparing for an IPO which could value the company as high as $ 1 billion.