Carrier Enterprises
- 250k Increase in electronic payments
- 50% Increase in electronic payments
“Versapay is committed to commercial real estate. Versapay took the time to really understand us, partner with us and be flexible with what we needed.”
Increase efficiency 75% with AI-powered cash application
Automate your cash application process using machine learning to match any payment type with open receivables. Capture and reconcile payment data, eliminate entry errors, significantly reduce manual effort, and speed up cash flow.
Reduce AR costs by up to 50% with automated online payments
Versapay's intelligent payments carry both payment instructions and complete remittance information. This allows you to fully automate your online payment acceptance, eliminating the need to post payments after they've been received
All-in-one cash application solution for 90%+ straight-through processing
Save time managing traditional payments like checks while encouraging your customers to pay online—all using one tightly integrated platform. Take advantage of Versapay's proprietary, purpose-built machine learning technology to automatically match payments with open receivables
Capture all payment and data types
Invite your customers to pay using their preferred methods and seamlessly capture incoming payments like checks, ACH, and wire transfers. Automatically extract remittance data from multiple sources—including vendor portals, bank lockboxes, emails, and PDFs—using advanced image recognition and machine learning technology.
Digitize your remittance data with optical character recognition
Remittance data can be messy. Our advanced character recognition technology takes those illegible characters, unstructured formats, and missing information, and quickly and reliably analyzes, normalizes, and imports them into our platform. Our algorithms then take over and complete the matching process.
The Ultimate Guide to Cash Application
This guide will take you through:
- The steps in the cash application process
- The key challenges finance teams face
- How advanced cash application automation can transform your AR department and make matching payments with open receivables simple
- Tips on selecting the right partner for your advanced cash application automation solution
Integrated exception handling
Easily identify unapplied payments that need human intervention and handle those pesky exceptions using integrated tools, warnings and workflows. Collaborate with your customers over the cloud using a user-friendly portal to seek clarification and even have them apply their own payments.
Complex matching made simple
Not all invoices are paid in full, which is why our solution delivers a great customer experience by managing complex payment matching. We recognize whether customers are paying a full invoice, multiple invoices, short-paying, or making a line-item payment, and match accordingly.
Take control of discounts and deductions
Automate your team's workflows around discounts, deductions, and short-pays, so you can focus on the outliers. Routing, reason codes, and notifications all ensure the right people are looped in to solve issues quickly and keep payments moving.