Name: Payference
Rating: 10 (1 reviews)
Author: Payference

Help Desk

Web and Video Conferencing

Customer Support

Accessibility Testing

Automation Testing

Version Control

Development

Virtual Classroom

Education

AI Document Creation

Business Intelligence (BI)

Calendar

Collaboration

IP PBX

Knowledge Management

Enterprise

Accounting

Budgeting and Forecasting

Financial Planning and Analysis (FP&A)

Financial Research

Financial Risk Management

Trust Management

Finance and Accounting

Applicant Tracking

Corporate Learning Management

HR Management

Job Board

Payroll

Talent Intelligence

Talent Management

Time Tracking

Workforce Analytics

Workforce Management

Human Resources

.Net Development

Cloud Storage

Container Security

Deception Technology

Embedded Database

Event Monitoring

Fraud Detection

IT Professional Services

IT Service Providers

Integration Platform as a Service (iPaaS)

Load Testing

Machine Identity Management

Network Diagnostics

Network Performance Monitoring

Office Migration and Repair

Rack Servers

Runtime Application Self-Protection

Service Desk Outsourcing

Telecom Expense Management (TEM)

User Activity Monitoring

Value Stream Management

Information Technology

A/B Testing

Ad Serving & Retargeting

All-in-One Marketing

Community

Content Management

Digital Experience Intelligence

Email Marketing

Influencer Marketing

Market Research

Marketing Automation

Mobile Analytics

Social Media Management

Survey & Forms Building

Usability Testing

Web Analytics

Wholesale Marketplace

Marketing

Project Management

Professional Services

AI Sales Agent

Customer Relationship Management (CRM)

Sales

Application Security

Cloud Security Posture Management

Identity Threat Detection & Response Software

Security

Estate Planning

Geographic Information

Tour Operator

Vertical-Specific

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### Cash Flow Management
User consensus seems to be that Payference excels in cash flow management capabilities. Customers appreciate the ease of generating accurate cash flow forecasts, leveraging historical data to make informed projections. The ability to automate invoicing, payment reminders, and past due notices streamlines accounts receivable processes, saving time and improving collections. Payference's detailed breakdown of cash sources and expenses ensures efficient cash management, with strong support from their customer service team. Customers find value in the balance between cash and credits, collaborative work formula, and robust budgeting features offered by Payference.

### Forecasting and Projections
Users unanimously praise Payference's forecasting and projections capabilities. The software's ability to integrate with NetSuite ERP systems and utilize past payment data to determine cash flow forecasts has been a game-changer for many. Customers appreciate the ease of setting up cash flow projections with minimal effort, saving time and leveraging system data for more reliable predictions. Additionally, the automation of invoicing and collection processes has significantly streamlined operations for users. The predictive feature for estimating customer payment timelines based on historical data has been particularly lauded for its accuracy in assessing true cash flow. The quick connection to NetSuite and responsive support from the Payference team have also been highlighted as key strengths by reviewers.

### Accounts Receivable and Collections
Users consistently praise Payference's accounts receivable and collections features. The automated payment reminders and streamlined invoicing processes have been highlighted as significant time-savers for the Accounts Receivable team. Additionally, the ability to generate cash flow forecasts based on historical data and payment trends has been well-received, providing valuable insights for managing receivables effectively. Customers appreciate the ease of making payments through Payference and the robust dunning capabilities that aid in collections efforts. The integration with NetSuite ERP system has been particularly lauded for its efficiency in managing cash flow and automating invoicing tasks.

### Invoice Management
Users consistently praise Payference for its efficient and user-friendly invoice management capabilities. The ability to automate invoicing processes, send reminders, and compile statements in one email has significantly streamlined their operations. While some initial challenges were reported, the quick resolution of issues and the responsive support from the Payference team have left users satisfied with the overall invoice management experience. The software's predictive features for cash flow estimation based on payment history have been particularly lauded for providing valuable insights into financial planning. Additionally, the flexibility to send invoices to multiple email addresses has been a notable improvement for users with diverse customer requirements.

### Payment Processing
Users consistently praise Payference for its efficient payment processing capabilities. They highlight the platform's ability to automate payment reminders, streamline communications with customers, and provide accurate cash flow projections based on payment history. Customers appreciate the ease of making payments through Payference and the time saved by automating invoicing and collections processes. The integration with NetSuite ERP system is also lauded for enhancing the accuracy of cash flow forecasts. Additionally, users value the responsive support provided by the Payference team in addressing their inquiries promptly.

### ERP and Accounting Integration
Users appreciate Payference's ability to streamline cash flow forecasting and automate accounts receivable processes through its integration with NetSuite ERP. The software's predictive features for estimating payment timelines based on historical data have been particularly well-received. While some users find the technical aspects challenging, the availability of comprehensive training helps bridge this gap. Additionally, the quick setup process and responsive support from the Payference team have garnered positive feedback. Suggestions for improvement include enhancing communication regarding missing ERP files and PDFs in accounts receivable invoices.

Payference has emerged as an invaluable solution for businesses seeking to streamline their financial management processes. With its easy-to-use platform, businesses have been able to review their statements, manage bills and payments efficiently, and scale their customer base. Users have praised Payference for its adaptability, allowing the system to effectively cater to their specific needs. By automating payment reminders and collection emails, Payference has saved users significant time and effort. In addition, startups and small businesses have found value in using Payference as it helps them manage their finances until they can afford a full-time CFO or Accountant. Moreover, financial executives and consultants have lauded Payference as a valuable tool for improving efficiency and organization. The software's ability to pull in transactions and utilize payment history for flow forecasting has simplified the preparation of financial forecasts. The presentation of results in tables and graphs allows users to quickly identify trends and potential concerns. Payference also solves the problem of limitations in sending invoices by enabling businesses to enter multiple email addresses for invoice delivery. This multi-faceted approach to managing finances ensures a balance between credits and debits within companies and promotes collaboration among different departments. Additionally, the budgeting feature in Payference is highly deployed, helping businesses effectively manage cash flow and accounts receivable. By providing visibility into accounts receivable aging, Payference empowers businesses to optimize working capital and deliver better service to customers and vendors. Overall, user experiences with Payference reflect its ability to solve a range of business problems related to financial management with ease and effectiveness.

Streamlined Accounting Process: Several users have found that Payference streamlines their accounting process, making it easier to email missing invoices and send monthly statements to customers. The automated process of sending out invoices and reminders saves users time and allows them to focus on more critical tasks.

Time-saving Automation: Many reviewers appreciate the time-saving automation features in Payference. The software's ability to automate payment reminders reduces the time spent by employees reaching out to customers regarding payment status. Additionally, the automated invoicing and generation of payment reminders and past due notices help improve collections, saving valuable time for the user's Accounts Receivable team.

Effective Cash Flow Management: Users find that Payference effectively organizes and manages cash flow. It generates easy-to-follow reports, providing a detailed explanation of different sources and expenses. This helps ensure the right amount of money is spent and maximizes inflow, meeting users' cash management requirements. Furthermore, Payference provides real-time reports, allowing for accurate transfer decisions and careful working capital management.

Difficult to use for non-technical users: Some users have found it challenging to navigate Payference if they are not familiar with AP and AR processes or do not use the correct transaction types. 

Lack of communication regarding missing PDFs on invoices: Users mentioned that there is a need for better communication when ERP files are not received or fail to load, especially in relation to missing PDFs on accounts receivable invoices.

User interface could be simpler: While some users appreciated the overall functionality of Payference, they felt that the user interface could be simplified for easier navigation and usability.

Glean  provides an Intelligent AP platform.     Glean Analytics  leverages untapped invoice data to surface relevant context, actionable insights, and savings recommendations.

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Payference

Budgeting, Planning, and Forecasting

These activities are designed to assist with both data-driven operational, short-term planning and strategic long term planning

Long-term financial planning

Financial budgeting

Annual budget for revenue and operating expenses, headcount/compensation, capital expenses, projects, etc.

Forecasting

Combining actuals and budgets, rolling forecasts, driver-based models.

Scenario modeling

Financial or operational modeling of alternate future states and planning for each.

Management reporting

Budget vs. actual or forecast, P&L’s, performance over time, between products etc.

Budgeting Tools

Allot financial resources to guide your organization's spending

Automated Budgeting

Automated reporting and cash flow tracking reacts to real-time changes to more efficiently plan budgets.

Financial Planning Collaboration

Collaboration tools coordinate finance team members’ budgeting-related task completion through file sharing and chat features.

Budget Customization

Customizable templates and forms for performance visualization

Departmental Budgeting

Division of budget across multiple departments according to an individual team's spending and resources.

Import & Export Tools

Importing of financial data to accurately budget resources and exporting of reports to share across your organization.

Analytics and Reporting

Dashboards and scorecards for KPI monitoring and benchmarking

Personalized dashboards

Create custom dashboards and reports without the help of IT or administrators.

Color-coded scorecards

Track and analyze performances with interactive, color-coded balanced scorecards.

KPIs

Select from a library of more than 6,000 key performance indicators, and incorporate KPIs into your planning process.

Cost and profitability analysis

Cost and profitability analysis provides data for business decision making.

Benchmarking with external data

CPI, daily exchange rates, industry KPIs. with scheduled data refreshes.

Revenue Forecasting

Key Performance Indicator setting

Ability to set key performance indicators for measuring progress towards goals.

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Payference

Overview

What is Payference?