Aiwyn's 2022 SOC 2 Type 2 examination of the company’s Intelligence-Based Billing platform yielded an unqualified (clean) opinion with zero...
2021 Analysis, Testimonials Reveal Aiwyn Delivers ROI in Less Than 30 Days
Series of case studies quantify how the company’s Intelligence-Based Billing™ platform consistently delivers faster cash flow and time-savings for leading CPA firms
Charlotte, NC – January 11, 2022 – Aiwyn, the leading artificial intelligence (AI)-based technology company helping accounting firms streamline their work-to-cash cycle and practice management operations, today announced the collective results of customer case studies conducted in 2021 that quantify how the company’s Intelligence-Based Billing™ (IBB) platform consistently delivers measurable and valuable results for CPA firms.
Aiwyn’s customers are CPA firms listed in the Inside Public Accounting Top 400 rankings. The IBB platform delivered the following year over year improvements for individual firms, in the first 30 days of use:
- +41% increase in overall collections, year over year
- 300% increase in online payments collected, year over year
- 69% increase in the number of clients who paid an invoice < 7 days of invoice issuance
- 1 in 4 clients paid more than 1 invoice (vs. precedent behavior of 1 by 1 payment)
- 450% increase in credit card payments
(More case study details are available at https://www.aiwyn.ai/success_stories)
Launched in 2021, the IBB platform has now been introduced to dozens of Top 400 firms, making Aiwyn one of the fastest-growing technology companies serving professional services firms. Also in 2021, Aiwyn raised $14MM in a seed round led by Revolution Ventures, its IBB platform was selected an AccountingToday 2021 Top New Product, and Aiwyn CEO Justin Adams was named a "20 Under 40" Influencer by CPA Practice Advisor.
“2021 proved to be an exciting year at Aiwyn. The accounting profession embraced our transformative technology and has paved the way for AI to support firms and their clientele,” said CEO, Justin Adams. We’re looking forward to evolving the accounts receivable processes further with the introduction of even more sophisticated, yet user-friendly, technologies in 2022.”
“Aiwyn is certainly at an advantage being first to market with this type of AI technology,” explains Adams. “But it’s the fact that we’re on the cusp of taking it even further already by introducing more solutions that seamlessly integrate with existing practice management that makes it a ‘no-brainer’ for companies. It’s impossible for accounting firms to pass up this type of intuitive innovation that couples ease of operations with exceptional client services.”
Adams continued, “We anticipate a year of expansion and new opportunities for Aiwyn and our partners. We’re excited for what’s in store for today’s accounting firms and continuing to take this technology to the next level.”
For more information, visit www.aiwyn.ai.
Aiwyn helps top-ranked professional services firms revolutionize their work-to-cash cycle, resulting in faster cash flow firm-wide, more productive and fulfilled professionals, and a superior client experience. With Aiwyn's Intelligence-Based Billing™ (IBB) platform, high-value firm executives, partners, and staff are liberated to deliver more value to clients and work at the highest end of their professional expertise. Aiwyn offers a suite of solutions built on the IBB platform that speed up the client payment cycle and provide firm leaders with predictive insights to drive smarter strategic growth decisions. Benefits of Aiwyn to accounting and law firms firms: partners can save time, bill faster, and shed administrative headaches; finance leaders can reduce days-in-WIP and days-in-AR, speed up client payments, and smooth out cash flow; executives can better protect financial health with predictive insights and controls, and improve their firm reputation by offering best-in-class experiences to clients.