6 12, 2017

3 Secrets You Didn’t Know About Accelerating Collections

2018-04-09T15:43:41+00:00 December 6th, 2017|Blog, Collect Smarter|

When it comes to the invoice-to-cash process, the most common pain point next to cash application is collections management. If you’re in finance you can relate to the manual steps, time-consuming efforts, and constant back and forth with customers... all while your receivables continue to rise. The collections frenzy is all too real in organizations today. Collections teams are in a sense firefighters: they put out raging fires, respond to collections crises and rescue the cash they’re owed from bad debt. Once they’ve put out one fire, it’s off to the next one burning down the street. A common trend for most organizations is to fix this issue by adding headcount, this, however, is a temporary fix. Not only do collections continue to rise, but also the number of people needed to manage it. The result? More overdue accounts, handled by a growing collections team. This situation is not fiscally Read More

15 08, 2017

FinTech for Commercial Real Estate? Here’s 12 Reasons Why.

2018-04-09T15:44:16+00:00 August 15th, 2017|Blog, Collect Smarter, Gain Insight Into AR, Get Paid Faster|

According to KPMG, this year in Q1 2017 global investment in FinTech companies hit $3.2 billion across 260 deals… and this is just the beginning. The way the internet changed publishing and music, FinTech is now changing industries like commercial real-estate (CRE) by modernizing the old-school processes used by finance. It’s no secret that collecting receivables for CRE companies is a challenge and managing multiple tenants can be frustrating. Without an effective platform to communicate rent charges, CAM fees, and tax across multiple locations and divisions, cash flow can be stifled with no real insight. FinTech is the answer for today’s CFOs and Property Accountants who need innovative technology to meet the digital appetite of customers, improve their experience, streamline processes, and access real-time data to make real-time decisions. A financial technology gaining traction with CRE companies is tenant platforms powered by accounts receivable (A/R) automation. With the ability to Read More

30 09, 2016

Transportation: How to realize certainty, in uncertain times

2018-04-09T15:46:40+00:00 September 30th, 2016|Blog, Collect Smarter, Save Time and Money|

A couple of weeks ago, I attended the McLeod User Conference in San Antonio. McLeod Software is the leading trucking software used by some of the most innovative transportation and logistics companies. It was a great conference for VersaPay to connect with our customers who are using McLeod and learn more about the changes in the transportation industry. The show was impressive with great educational sessions and interesting keynote speakers. One keynote speaker that was most memorable was, Tom McLeod, founder of McLeod Software. He kicked off the show with a transparent overview of the uncertain times the transportation industry is facing. Elizabeth and I with Tom McLeod at the McLeod networking event. When Tom covered the obstacles and ambiguity the industry is faced with, it became apparent there are key areas that will change transportation business operations and introduce new conversations on how to adapt. Here are Read More

13 07, 2016

The True Cost of Not Automating your Accounts Receivable.

2018-04-09T15:47:40+00:00 July 13th, 2016|Blog, Collect Smarter, Save Time and Money|

One common misconception with accounts receivable software is that it’s costly and will not realize ROI. But, most companies only focus on the direct costs of invoicing (printing, postage, etc) and do not understand the true cost of preparing invoices and collecting outstanding receivables. Working at VersaPay, I’ve seen customers on average realize ROI in less than 2 months with an AR automation platform. Read More

9 06, 2016

The “CFO” is Keeping your CFO up at Night

2018-04-09T15:49:20+00:00 June 9th, 2016|Apply Cash Easily, Blog, Collect Smarter, Gain Insight Into AR|

We’re at mid-year mark for 2016. This is the time companies start reflecting on the last 6 months to see if the objectives they’ve set are on the right track. For the role of the CFO, this is very true as they are overseeing a sea change. With emerging digital technologies, CFOs are challenged to look past their traditional processes to increase productivity, efficiency and accuracy. What is the main objective they will be reflecting on? I like to call it the CFO – Cash Flow Objective (CFO) – this is what keeps your CFO up at night. According to a survey of 650 CFOs by Protiviti, CFO’s are seeking more precision and efficiency in cash forecasting, period-end close and reconciliation and consolidation activities. Protiviti highlights that, “cash forecasting represents one of the highest-ranked priorities, which may be indicative of the tepid economic recovery in many industries.” So, if cash flow and Read More

3 05, 2016

Why you need to digitize your accounts receivable…even if you don’t want to.

2018-04-09T15:49:29+00:00 May 3rd, 2016|Blog, Collect Smarter, Get Paid Faster, Make Customers Happy, Save Time and Money|

Is your account receivables (AR) stuck in the dark ages? If so, you’re not alone but in a couple of years you may be. While exhibiting at the Industrial Supply Association (ISA) Convention (largest yearly meeting of distributors, manufacturers and suppliers), it was eye opening to see how many companies are still managing their AR manually and how risky this is with customer appetite shifting to the online world. Read More

9 02, 2016

How Sihl Corporation Leverages AR Automation to Produce a Healthy Cash Flow and Happy Customers

2018-04-09T15:49:59+00:00 February 9th, 2016|Blog, Collect Smarter, Get Paid Faster, Make Customers Happy|

The Institute of Finance & Management (IOFM), specifically, a division known as The Accounts Receivable Network, recently interviewed and profiled one our clients, Sihl Inc. (Coventry, RI). The article is entitled: AR Automation Brings Big Benefits to Sihl Corporation. Read More

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