HealPay

HealPay featured on FeedMyApp

2011-02-27T22:44:00Z

Collections in the Cloud.

HealPay is the smart way to collect money.

We’ve streamlined the account receivables process, making it easy for your customers to pay on time. Quickly generate and send invoices from your computer by email, postal mail, and phone. Collect money more efficiently by providing flexible payment options online.

HealPay’s data driven technology utilizes advanced machine learning and behavioral economic techniques similar to those found in online ad targeting platforms.

HealPay is a web application written in Ruby on Rails.

source: http://www.feedmyapp.com/p/a/healpay-collections-in-the-cloud/21616

HealPay turns debt collection into app start-up

2011-02-01T15:29:00Z

Erick Bzovi and Lance Carlson knew they wanted to get a piece of the emerging mobile app game, and saw their best shot a sector most people wouldn’t expect – debt collection.

The pair of young entrepreneurs started HealPay in Ann Arbor nine months ago. They now have a team of six people who have helped get the idea from concept to Beta testing last fall to a market debut earlier this month.

“A lot of these payment collection programs are ripe for innovation,” Bzovi says.

He points out that debt collection is a fragmented industry that hasn’t been a leader when it comes to keeping up with technology trends, such as mobile apps. HealPay’s app automates the collection process by integrating it with other software programs, such as accounting software. The duo is now focusing its effort on municipal debts, such as parking ticket fines.

“This presents an opportunity to streamline a fragmented industry,” Bzovi says.

Bzovi and Carlson plan to focus on getting HealPay to be adopted in Michigan municipalities during the first quarter. They hope to start spreading it across the Midwest by this spring/summer, and even the nation by the end of the year. If successful, they expect to have a staff of 15-20 people by 2012.

Source: Erick Bzovi, co-founder of HealPay
Writer: Jon Zemke

Read more about Metro Detroit’s growing entrepreneurial ecosystem at SEMichiganStartup.com.

Businesses Are Paying Bills More Slowly

2011-01-25T01:54:49Z

The average number of days businesses paid their bills beyond contracted terms increased by 2 percent in July.
Findings from Experian’s July Business Benchmark Report show that the national average number of days that businesses paid their bills beyond contracted terms increased by 2 percent in July compared with June. When compared with six months ago, the average payment beyond contracted terms has increased by 3.3 percent. The July report also showed that the national average dollars delinquent and dollars severely delinquent (91 or more days) are up (6 percent and 13 percent, respectively) when compared with six months ago. Other findings from this month’s Business Benchmark Report:
Risk score:

The average commercial risk score for July was 58.3, up 0.5 percent over June’s average score of 58.0. The score is essentially unchanged when compared with six months ago.
In July, very large businesses (those with more than 1,000 employees) showed an almost 6 percent drop in their risk scores compared with June, going from 41.6 to 39.3. However, these businesses continue to demonstrate the greatest overall improvement in risk scores when compared with six months ago, when the average score was 38.2.

Average days beyond terms (DBT):

Very large businesses and nonemployer businesses have shown the greatest increase in DBT, increasing by 5.6 percent and 4.0 percent, respectively, when compared with six months ago. Conversely, midsize businesses (with 50 to 499 employees) showed the biggest improvement, reducing DBT by as much as 6.1 percent over the same period.
The largest increase seen in DBT month over month was in the nonemployer category, which increased by 2 percent to 5.7 days. Conversely, the biggest improvement in average DBT was seen in the large business category (those with 500 to 999 employees), where DBT improved by 1.6 percent to 8.6 days.
All industry groups have shown an increase in DBT in July compared with June. Manufacturing and Utilities had the biggest increases, rising by 2.5 percent and 2.4 percent, respectively.

Percentage of dollars delinquent:

Nonemployer firms showed significant increases (16.4 percent) in the percentage of dollars delinquent when compared with six months ago. In terms of severely delinquent dollars, nonemployer firms and microbusinesses (those with one to four employees) also demonstrated significant increases, rising by 27.5 percent and 7.0 percent, respectively.
Larger businesses (those with 500 to more than 1,000 employees) and midsize businesses with 100 to 249 employees showed significant improvements in percentage of dollars delinquent when compared with six months ago, decreasing by as much as 11.1 percent. Midsize businesses with 50 to 99 employees and larger businesses with 500 to 999 employees showed significant improvements in percentage of dollars significantly delinquent, decreasing by 11.8 percent and 9.4 percent, respectively.

To download previous reports or to see a visual representation of this data and other information broken down by state in an interactive map, visit http://www.experian.com/business-benchmark-report.
-Source (http://www.acainternational.org, September 2010)

Software Platforms Will Rule the Future of Payments

2011-01-25T01:53:00Z

Software Platforms Will Rule the Future of Payments, Expert Argues

The future of payments belongs to innovators that use software platforms to develop new services that can be quickly brought to market, according to David S. Evans, an economist and veteran payment-industry observer. Evans, keynote speaker at the Federal Reserve Bank of Chicago’s annual payments conference Thursday, cited PayPal Inc., the new Square Inc., and a Denver-based developer, IP Commerce Inc., as leaders in what he called a revolutionary transformation of electronic payments that some day will be built upon no more than five to 10 software platforms that will give rise to countless applications for consumer and business users. “There is going to be a race,” Evans said. “PayPal is first out of the gate and has made significant progress, but there are going to be other players.”

(May 21, 2010)
http://www.digitaltransactions.net/newsstory.cfm?newsid=2535