Yapily is a leading open banking platform empowering businesses to access and integrate data and payment infrastructure from close to 2,000 financial institutions across Europe. Yapily's mission is to drive innovation in financial services by leveraging open banking technology, aiming to create more inclusive and efficient financial products for consumers and businesses alike.

Challenge

Yapily's journey to streamline their billing operations began as the business experienced substantial growth, reaching a milestone of processing $39.5 billion in payment volume annually. Their initial billing and pricing model, designed for simplicity and efficiency, faced challenges in keeping pace with their rapid growth in product offerings and client requirements.

The billing process was primarily managed manually by Yapily's finance teams, creating dependencies on specific team members and becoming increasingly time-consuming as they continued to onboard new customers. This manual approach, complemented by the introduction of bespoke contracts for flagship customers like Alipay+, Intuit, and Volt, highlighted opportunities to optimize invoicing processes and enhance revenue assurance.

As they transitioned from their legacy pricing model to a more sophisticated pricing structure, the complexity of their billing requirements grew exponentially. The team recognized that their existing setup would not be able to keep pace with their growth trajectory, prompting them to search for a more robust solution that could handle their evolving needs.

Solution

Yapily conducted a thorough evaluation of potential billing solutions in the market, comparing them from both technical and business perspectives. While most platforms could handle standard usage-based billing, Solvimon stood out for its ability to support Yapily's specialized pricing strategies and unique billing requirements.

The implementation process was collaborative, with Solvimon's team working closely with Yapily to ensure a smooth transition. The platform's flexibility enabled automated complex billing calculations for varied pricing models while supporting custom contract terms for enterprise clients. Through Solvimon's platform, Yapily gained the ability to generate accurate, transparent invoices, and streamline their new customer onboarding process. The solution integrated seamlessly with their existing financial systems, creating a unified billing ecosystem.

"With Solvimon, we've been able to run so much faster. The risk of invoicing errors has been reduced drastically, and onboarding new contracts has never been easier."

The team particularly appreciated Solvimon's customer-focused approach and adaptability, noting how the platform could be configured to match their specific needs while maintaining scalability for future growth.

Impact

The implementation of Solvimon's platform brought transformative changes to Yapily's billing operations. Within the first few months of going live, they experienced significant improvements across their entire billing workflow. Manual invoicing was reduced by 98%, saving the team 2 days of work and enabling them to close their monthly billing run faster. Over 200 bespoke pricing plans were onboarded using Solvimon’s intuitive UI, with the team able to set up non-standard contracts with ease.

Invoice accuracy and transparency improved, resulting in enhanced customer satisfaction due to clearer, more detailed invoices, while the risk of revenue leakage was minimized. Financial reporting became more streamlined and data-driven, enabling better business insights and decision-making. The time required for new contract onboarding decreased significantly. We look forward to continuing supporting Yapily on their growth trajectory.