PayPie helps businesses sustain their cash flow through affordable business financing, insightful analytics and risk scoring.
It came across my radar when it was announced that PayPie was one of 10 finalists for QuickBook’s App Showdown.
QuickBooks, for those unfamiliar, is accounting software for small businesses. Let’s see how PayPie fits in.
PayPie comes from the makers of SlickPie, which is a cloud-based accounting solution for small businesses. With PayPie, that data is now on the blockchain.
That’s good because accounting systems today are closed. For trust we need independent auditors, which is expensive. Further, data can’t always be obtained in real-time.
PayPie is a decentralized account platform that gives businesses real-time insight to their financial data and helps improve credit scoring. PayPie will enable live financial audits, ends duplicate tasks, speed up credit approvals and improve the overall credit scoring process by disrupting business accounting landscape.
With that real-time information customers can use it for factoring, which is a fancy way of saying selling accounts receivables.
Globally factoring is a $3 trillion business. Businesses sell their invoices at a discount to get the cash flow they need today.
With PayPie you can use your real-time data and risk score to secure competitive terms through access a global network of invoice buyers.
It’s got a pretty slick dashboard, which you can see below.
One of the things I like about PayPie is that it already has an existing business with SlickPie that includes over 16,000 customers. That will definitely help PayPie.
And PayPie is already integrated with QuickBooks and plans to integrate with other accounting software platforms as well.
So far though I haven’t pulled the trigger on PPP tokens... but it's cheap with just an $11 million market cap.
What about you, any thoughts on PayPie?
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