In our previous article, we discussed the topic of unpaid invoices and the many complications they cause for companies and large groups. Indeed, there are few relevant solutions adapted to the management of these unpaid invoices, a complex subject that can alter the activity of both debtors and creditors. In response to this problem, Olkypay has been offering a flexible solution for optimizing collections for several years.

A complete SEPA collection platform

The nature of this platform is to condense all SEPA payment methods into a single tool. It can be easily integrated into a company's information system and allows the grouping of CB, cheques, cash, SEPA TIP and other invoices in one place rather than managing these different invoices individually. A complete back-office accompanies the platform for a precise follow-up of the collections, allowing a global view on their management.

One of the advantages of this centralized solution is the reduction of intermediaries necessary for the correct payment of an invoice. It automatically takes care of the collection and, if necessary, the recovery with a system of invoice splitting. To take a simple example, if a customer owes 100€ at a given time but does not have the amount in his account, Olkypay will take care of the partial collection of this amount in order to allow the creditor to receive part of the funds and the debtor to avoid unpaid fees. Thanks to machine learning, we can determine the funding profile of the account to know when it is most relevant to send the funds.

Another strong point of the SIO4 platform is the fact that it can be adapted to all types of creditors, from large creditors to small businesses. In principle, it will help to pay everyday invoices issued by large companies in order to reduce the problem of unpaid invoices. Recurring payments of this type often lead to the problems we mentioned at the beginning of the article: as the invoices are planned in advance for the long term, it sometimes happens that the debtor cannot pay the amount in a given month. In this case, our platform can take care of the whole process, ensuring that the creditor receives at least a part of the invoice while protecting the debtor from penalties related to non-payment. A more common example would be a gym that wants to make sure it receives its due, as unpaid bills are common in this sector. By integrating the collection platform, it secures at least part of its revenue.

By offering a complete platform centralizing all the elements necessary for the proper management of unpaid invoices, and by integrating innovative and flexible payment methods such as SEPA TIP, Olkypay wanted to address the players who have difficulties in managing their collections and invoices. Income irregularity is a concept that is increasingly present in the active world and must be addressed with adapted solutions like this one.