FreePay is a highly customizable Electronic Invoice Presentment & Payment (EIPP) solution that helps businesses to send invoices to their customers and receive payments online automatically.

The solution is designed to streamline the invoicing process by automating:

- Invoice Generation and Delivery

- Payment Reminders

- Payment of Invoices via Customer Portal

- Payment Reconciliation

- Deduction Management

By providing a mobile app/web portal with a self-service customer portal, FreePay enables businesses to effortlessly collaborate with customers, allowing them to view invoices, and make payments via multiple methods. With seamless Sage Intacct integration, FreePay automates invoice reconciliation and instantly updates transactions in ERP. It supports predictive analytics and intelligent automation, making it an essential tool for Sage Intacct users looking to scale their financial operations efficiently.

With FreePay, businesses have added $1 billion back to their bank accounts by getting paid faster, reducing deductions & disputes, and automating invoice reconciliation.

Key Benefits:

• Significant Reduction in DSO – an average of 30% 

Enables DSO reductions via real-time invoice presentment and tracking, multi-channel collections dunning, faster reconciliation and cash posting directly to Sage Intacct.   

• Lower Invoicing Costs by 90% 

Drastically cut operational costs by digitizing invoice delivery and eliminating paper-based manual invoicing. 

• 95%+ Automated Reconciliation 

Automates the reconciliation and includes the Sage Intacct ledger and sub-ledger knockoffs of invoices, credit and debit notes, round-offs, withholding taxes, etc.   

• Boosts Sales Team Productivity by 20% 

Sales teams spend nearly 20% of their time on collections-related tasks—gathering payment status updates from Sage Intacct and coordinating with customers. FreePay’s automated dunning solution automates this process, freeing up valuable time for the salesforce to focus on revenue-generating activities.   

• Reduction in disputes, billing adjustments and reconciliation errors   

Digitizes deduction classification and related workflows. Further, it automates reconciliation, eliminating manual errors. Customers get real-time status, improving customer satisfaction. 

• Enables all payment mechanisms and reduces the cost of payments 

FreePay enables push and pull payment methods such as ACH, wire transfers, checks, and more. It auto-reconciles transactions across all major bank formats (e.g., MT940/42, BAI, ISO, CSV), reducing the cost and complexity of payment processing. 

• Data-driven actionable insights to CFOs, Treasurers, Credit controllers 

FreePay delivers detailed AR analytics, including DSO tracking, payment behavior by customer or region, and salesperson performance. It also supports configurable actions such as automated dunning alerts. 

• Revenue acceleration – via faster credit unlocks for the next order cycle  

Delayed reconciliation often leads to credit locks that stall the next order cycle. FreePay speeds up reconciliation and credit adjustments, ensuring quicker access to working capital and faster order processing. 

 

Key Features for Sage Intacct Users: 

1) Real-Time Invoicing: Instantly generates and delivers invoices to the customers for faster collections. 

2) Automated Dunning: Supports configurable dunning and sends automated payment reminders to buyers via email, SMS, and portal notifications.

3) Automated Reconciliation and Posting to ERP: Ensures real-time payment matching and instant ERP updates. 
 
4) Deduction and Dispute Management: Identifies valid deductions, auto-computes certain deduction types (e.g., withholding tax), allows Approval workflows set-up at deduction level and provides automated dispute notifications.     

5) Easy-to-Use Customer Portal: A self-service portal for viewing invoices, payments, and credit note applications. The documents can also be downloaded.

6) Multiple Payment Options: Supports various payment methods such as RTGS, ACH, UPI, and card payments, along with payment scheduling through direct debits.

7) AI-Based Analytics: Provides real-time insights into receivables health and history, overdue invoices, and cash flow trends, enabling data-driven decision-making. It also offers detailed tracking reports and data export/archival options.

8) Supported on All Devices: Accessible via a web portal and mobile app, supports multiple languages and currencies, and offers white-labeling.

9) Flexible Data Integration: Seamless data exchange with different systems through APIs and file exchange, supporting various ERP and proprietary formats.

10) Channel Financing: Enables seamless channel financing for buyer/ dealers through banks/NBFCs, with both corporate or dealer-initiated drawdown options.

11) Portal for Collections Team: Provides access to buyer information and real-time payment status. If needed, collectors can also make payments on behalf of buyers and collect cash from customers.

12) Corporate Dashboard: Offers customizable invoice presentation with options for various formats (including QR codes/barcodes and e-invoices) and multiple viewing/downloadable formats (PDF, HTML, JSON/XML).

13) Invoice and Credit/Debit Note Management: Supports all in-country payments, including consolidated payments across multiple invoices with credit note adjustments, as well as advance payments.

14) Configurable Payment Terms and Credit Checks: Allows for setting credit periods, conducting instant credit checks, and managing advance payment.

15) Cash Discount and Overdue Payment Handling: Facilitates multi-dimensional discount calculations, real-time discount computation and penalty calculations, and overdue payment processing. 

Requirements:

Integrating with this application requires you to use the partner’s SenderID. By using the partner’s SenderID, you do not need to buy a web services developer license from Sage and your API usage will not count towards your API performance tier. Sage may prevent customers from integrating with this application under their own SenderID.  However, Platform Services is Required

Price:
Implementation fee + Annual license fee (depending on size of the company / volume of transactions)

Integration Approved Countries:
United States