About Katie Canton

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So far Katie Canton has created 27 blog entries.
2 12, 2019

Why Customer Self Service in AR is the Key to Collecting Overdue Invoices

2019-11-27T13:25:52-05:00December 2nd, 2019|Blog, Uncategorized|

Once upon a time, collecting payment consisted of manually extracting data from spreadsheets, drafting up individual invoices, and sending them by mail to your customers. Then, the wait began for a check back in the mail. It was a long and drawn-out process thwarted with delays, but it was accepted as being just the way things were. But now, we live in an Amazon Prime, express checkout, contactless world and won’t think twice about exiting a website because it took too long to load. Clearly, as technology has become more advanced, our pace of life has quickened. This fast pace has also filtered into the corporate world, with technology fuelling fierce competition and increased workloads, business consumers are busier than ever. Consequently, business consumers have begun to expect more from their buying experience. They value flexibility and options to complement their demanding lifestyles. Combine this with data from PYMNTS.com and Read More

4 11, 2019

Building A More Collaborative AR Platform – New Report from American Express and PYMNTS.com

2019-11-04T11:00:02-05:00November 4th, 2019|Blog|

What do social media and accounts receivables have in common? Up until now, you’d be right in thinking the answer was ‘not a whole lot’. Which was a problem. The principles of social media - the real-time creating and sharing of information and online collaboration – is exactly what modern AR departments need to succeed. “By and large, the AR process is very inwardly focused, which sounds kind of strange because it’s about collecting money from customers,” our CEO, Craig O’Neill, explains in the recently released Accounts Receivable Automation Report from PYMNTS.com and American Express. “It really doesn’t do a good job of communicating with, collaborating with and solving problems for customers.” In the report’s feature story, Craig explains how VersaPay’s AR platform, ARC®, uses a social media framework to increase transparency and foster greater collaboration between buyers and sellers. Imagine a world where your interaction with customers no longer Read More

1 11, 2019

Commercial Real Estate 2020 Priorities: The Tenant Experience

2019-11-01T11:34:16-05:00November 1st, 2019|Blog|

As 2019 creeps closer to the end, it’s important to both agree on your business priorities for the coming year as well as understand the resources and time available in this calendar year to enact timely change. We’ve all been through the cycle enough times to know that waiting until the new year to make the changes required to succeed in the new year is far too late. The time to act is now. But what action is required? Earlier this month, Deloitte released The 2020 Commercial Real Estate Outlook in which they surveyed 750 CRE executives—owners/operators, developers, brokers, and investors—in 10 countries. The outcome of the survey is a detailed report outlining the ​challenges, opportunities, and the potential for transformation for CRE in 2020. Based on this report, the top priority for Commercial Real Estate organizations in 2020 is the tenant experience. “Most respondents rated tenant experience as a Read More

18 09, 2019

How to Transform Your Accounting Processes – Step 5: Consolidate your AR tools

2019-09-18T12:01:45-05:00September 18th, 2019|Blog|

An AR automation tool can help you get paid faster while you reduce the burden on your in-house team. Ultimately, this helps you improve your cash flow and protect your margins. The next section of this guide will show you exactly how you can achieve these results (quickly and with minimal risk). Implementing an AR automation tool doesn’t need to take months or years. But to achieve rapid results, you need a plan. There are five steps you need to undertake to improve your finance efficiencies, deliver a better customer experience and bring in more money – faster. Here is the final step. - Missed Step 4? Click here to catch up. - 5. Consolidate your AR tools Your AR tools don’t just provide information about invoices and collections. They contain critical financial data that gives all of your stakeholders a clear view of your operations. Centralizing your disparate AR Read More

11 09, 2019

How to Transform Your Accounting Processes – Step 4: Go Beyond a Payment Portal

2019-09-11T11:06:50-05:00September 11th, 2019|Blog|

Digital transformation doesn’t need to be lengthy. With the right plan, and the right solution, you can achieve quick results with minimal risks. There are five steps you need to undertake to improve your finance efficiencies, deliver a better customer experience and bring in more money – faster. Here’s step 4. - Missed Step 3? Click here to catch up. - 4. Go beyond a payment portal As the B2B space becomes more digital, you might have considered offering customers a portal where they can pay invoices and check their accounts online. Perhaps you have even tried such a portal. Payment portals are a great step if you want to delight your customers while getting your money in faster. However, an online payment portal won’t help you achieve these goals if your customers don’t use it. Distributors tell us that many online portals offer a poor experience and make customers Read More

3 09, 2019

How to Transform Your Accounting Processes – Step 3: Define your success metrics

2019-09-03T10:47:41-05:00September 3rd, 2019|Blog|

Transforming your finance processes doesn’t need to take months or years. But to achieve rapid results, you need a plan. There are five steps you need to undertake to improve your finance efficiencies, deliver a better customer experience and bring in more money – faster. Here’s step 3. - Missed Step 2? Click here to catch up. - 3. Define your success metrics AR automation can reduce your DSO by 5-25 days. Before you implement an AR automation tool, be clear on your expected ROI. Here are some areas where you should look to track the success of your AR automation solution once it has been implemented: Does it reduce the workload of your accounting team? Is the communication generated through the platform an improvement over email and phone? Does the integration with your ERP save your team time? Does the availability of this platform improve customer relationships? Are customers Read More

28 08, 2019

How to Transform Your Accounting Processes – Step 2: Assemble the right team

2019-08-28T10:06:58-05:00August 28th, 2019|Blog|

Whether your distribution company is growing, has stalled or is in decline, each scenario has its challenges. Whether enabling scale, securing profit margins and cash flow, or guarding against new competitive business models, you may not have the time or resources to devote to a lengthy finance transformation project. Transforming your finance processes doesn’t need to take months or years. But to achieve rapid results, you need a plan. There are five steps you need to undertake to improve your finance efficiencies, deliver a better customer experience and bring in more money – faster. Here’s step 2. - Missed Step 1? Click here to catch up. - 2. Assemble the right team According to a study by CIO.com , the lack of a strong team can cause your digital transformation project to fail. The top team-related challenges include leadership that isn’t committed, resistance to change, and a lack of talent Read More

20 08, 2019

How to Transform Your Accounting Processes – Step 1: Assess your current state

2019-08-28T10:06:36-05:00August 20th, 2019|Blog|

Transforming your finance processes doesn’t need to take months or years. But to achieve rapid results, you need a plan. There are five steps you need to undertake to improve your finance efficiencies, deliver a better customer experience and bring in more money – faster. Here’s step 1. 1. Assess your current state Charting your path for the future starts with understanding where you are now. Here are six questions that will help you identify inefficiencies in your current AR process and learn how they are impacting your cash flow. How many employees are involved with your collections processes? In addition to full-time collections staff, be sure to count other employees who follow up on late payments. Do you hire interns at year-end? Do your salespeople take time away from deals because they need to collect payments in order to get their commission checks, and what about your customer service Read More