Raypak Upgrades to GETPAID 7i Web-based Technology

Parsippany, NJ – The GETPAID® Corporation, leading provider of software and services for working capital optimization, today announced that Raypak will be upgrading to web-based GETPAID 7i for improved functionality and ease of maintenance.

“Our decision to upgrade to GETPAID 7i was driven by advancements made in the product as well as an initiative at Raypak to move toward web-based technology,” states Gary Bond, credit manager for Raypak. “Raypak’s revenue has increased thirty percent in the last six years. During that same time, we were able to lower DSO and reduce staffing requirements by twenty-five percent using GETPAID. We have been very impressed with what the system can do, and as a result, wanted to take our usage to the next level where we can benefit from more robust functionality, enhanced reporting, portfolio management, and cash forecasting.”

“We learned about the web-based version of GETPAID and its additional functionality while attending a GETPAID user group meeting,” explains Tom Nickel, IT manager for Raypak. “Raypak has been using GETPAID since 1998 and it has always performed very well for us. This version offers lower cost of ownership, online access from multiple locations, and ease of maintenance.”

Key benefits to Raypak:

• Improved account visibility and performance monitoring through reporting and an online collections effectiveness index.

• Ease of deployment and maintenance with universal web-based access to a centralized repository of data from multiple locations.

• Dynamic cash forecasting with payment history analysis, reliability ratings, and the ability to monitor actual vs. projected cash receipts.

“Over the past year, we have seen a significant increase in the number of GETPAID customers migrating to our web-based solution platform,” states Dianna Piumelli, CEO for The GETPAID Corporation. “Raypak joins approximately ninety other GETPAID customers that have recently deployed the GETPAID 7i product. With GETPAID 7i our customers benefit from cost-effective system deployment and maintenance as well as comprehensive support for the entire order-to-cash cycle.”

About Raypak
For over 50 years, Raypak has been the world’s leading manufacturer of copper finned boilers and heaters. From a modest beginning in 1947 in founder Al Whittel’s garage in Southern California, Raypak now supplies equipment all over the world from its manufacturing facilities in Oxnard, California and Toronto, Canada, and its licensee in England. For additional information visit www.raypak.com.

About The GETPAID Corporation
The GETPAID Corporation provides software and services for working capital optimization. GETPAID helps companies increase cash flow, prevent revenue leakage, meet regulatory compliance, and boost operating margins by delivering the only end-to-end solution to manage the Order-to-Cash cycle. The GETPAID solution suite embeds policy, automates processes and drives workflow for streamlined credit risk management, collections, dispute processing, online invoicing, and cash application, with detailed forecasting and analysis.

The GETPAID Professional Services team is comprised of credit and collections experts who bring with them the collective experience and best practices of over 700 implementations in over 35 countries. Delivering implementation, training and on-going support services to the more than 18,500 global users in a wide array of companies, industries and environments. GETPAID is based in New Jersey, USA, with offices worldwide.

For more information, contact GETPAID at 1-973-463-1500 or visit www.getpaid.com.