VIP Pay is available to customers of Invision™ invoicing software, which provides end-to-end automation from invoice creation to accounts receivable.
VIP Software, a national provider of integrated software solutions to property and casualty insurance companies, today announces a new financing service, VIP Pay™. VIP Pay will benefit adjusting firms, restoration companies and contractors who currently use the company’s Invsion™ software to automate the entire billing process. VIP Pay will advance payment on invoices processed through Invision.
“Cash flow management is a current major challenge for our industry and VIP Pay is a first-of-its-kind solution that is designed to alleviate these issues by allowing for our customers to focus on their core business as opposed to collections,” said James Makris, president and CEO of VIP Software.
VIP Software’s customers are P&C industry experts who use the company’s innovative software solutions to solve their business problems. VIP Pay tackles the persistently slow turnaround on invoice payment to service providers, by ensuring they receive the capital they need to maintain daily business operations. VIP Pay compliments VIP Software’s current suite of products, which automates critical processes between insurance carriers and service providers, and addresses the growing demand for data by delivering key performance indicators, including metrics around service-level agreements (SLA).
Last year’s catastrophic storms magnified the backlog of payables to service providers. The severity of the delays resulted in cash crunches for many owners and executives of adjusting, restoration and mitigation firms and contractors.
Makris added, “We recognized the receivables issue our customers were experiencing and built VIP Pay to unburden them from having to make difficult decisions based on the inability to make payroll and bill payment due to delayed compensation for their services.”
Learn more at https://vipsoftware.com/vippay/