Traditional accounts receivable needs to be improved

With no reinvention for decades, the traditional accounts receivable process is riddled with areas that require improvement. If any of these sound familiar, your invoice-to-cash process can be improved with VersaPay ARC™.

Improve the efficiency of your invoice-to-cash process with VersaPay ARC™

As a leading cloud-based, accounts receivable platform, VersaPay ARC, eliminates key pains and automates manual tasks in your invoice-to-cash cycle. This helps you get paid faster and improve customer relationships. By automating invoice presentment, matching of payments to invoices and cash application, your team can reallocate their time to high-value work and move your business forward.

How VersaPay ARC works

VersaPay ARC streamlines your accounts receivable process with a centralized platform for your team and customers for all invoicing, collaboration, payment and reconciliation needs.

The supplier portal is your team’s accounts receivable hub that provides a view of all customer information whether a single customer profile or a consolidated view across a division or your entire customer base. Dashboard information includes: top outstanding accounts, aging receivable schedule, days sales outstanding (DSO) metrics, disputes, and that’s just the beginning. This accounts receivable hub has powerful collection tools to help your team collect smarter with the right insight at their fingertips, and automates repetitive tasks allowing your team to focus on high-value work.

The customer portal is your customers’ online self-service invoicing and payment portal. Customers can manage every aspect of their account 24/7/365 including viewing and marking invoices for payment, managing notifications, and payment methods, opening disputes and inquiries and settling invoices online with ACH, EFT, and credit card payments.

The need to manually match payments to invoices is eliminated. All payment information is reconciled seamlessly with your ERP.

Explore below to see how VersaPay ARC helps your team get your business paid faster and make your customers happy

VersaPay ARC for your Team: Accounts Receivable Platform

The VersaPay ARC accounts receivable platform allows your team to intuitively view, action and manage your accounts receivable process from end-to-end. Centralizing your AR allows your team to gain control of every aspect of your receivables including online invoice presentment, collaboration for disputes and inquiries, collections management, automated cash application and payment management.

With a robust analytics dashboard, your team will have a full view of accounts receivable at their fingertips to turn insight into action quickly. Improve collections and get paid faster with real-time reports on total outstanding receivables, days sales outstanding (DSO), aged receivables schedule, top overdue accounts and payment trends.

Get paid faster

With the right tool for the job, your team will leverage key features of VersaPay ARC to help get your business paid faster. Explore these by clicking the tabs below:

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Online invoice presentment, automated reminders and reconciliation allows your team to do more with less

By leveraging the power of accounts receivable automation with VersaPay ARC, you will eliminate time-consuming manual tasks and refocus your team on high-value efforts.

  • Online invoice presentment: Present invoices online to eliminate printing, email and faxing of invoices to save time and money. With multiple invoice layouts, you can customize depending on division, product/service, and customer.
  • Automated reminders: Reduce the volume of collections calls to customers with automated payment reminders that are customizable to help keep customers on top of their accounts.
  • Intelligent email: Send emails directly from ARC including payment reminders and other communications. Emails are customizable and are guaranteed delivery with ability to track key metrics (# of opens, who’s opened, # of link clicks).
  • Automated cash application: Eliminate manual matching of invoices to payments with the ability to match and reconcile data for payments processed on ARC.

Leverage real-time data to turn insights into action and visualize the overall health of your AR

Reducing your days sales outstanding (DSO) and creating accurate cash forecasts are next to impossible unless you have insight into your accounts receivable.

With VersaPay ARC, your finance team will have real-time data at their fingertips to be proactive with the proper insight:

  • Dashboard with key metrics: interactive aging receivables schedule, top outstanding accounts, average collection period, invoices presented and invoices received.
  • Monitor customer activities: with all customer interactions managed within ARC, your team has full visibility into overall and customer specific activities including payments, disputes, and inquiries.
  • Real-time notifications: ARC notifies your team when invoices are overdue, short payments are received or credit cards have expired, ensuring both your team and customers are on the same page.
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Power your collections strategy with intelligence

To improve your collections efforts, VersaPay provides the platform to automate your invoice-to-cash process, in addition to specific tools to ensure your collections processes are smart and efficient.

  • Receivables information in one place: information to be effective at collecting is at your team’s fingertips including 30/60/90 reports, records of customer transactions, disputes and inquiries.
  • Identify bottlenecks in cash flow: all invoices, payments, and records of customer communications are centralized in ARC with ability to drill down to a customer level to identify issues that are delaying payment.
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“The VersaPay platform will provide our accounting team with a better view of our customer accounts and facilitate greater collaboration with our customers. Our team can receive payments on-line and automatic reconciliation will save us a great deal of time.”

Torani David Cannon, Controller

VersaPay ARC for your Customers: Self-Service Invoice and Payment Portal

Offer an enhanced customer experience with a self-service portal for invoicing and payment. With VersaPay ARC, you can provide a branded self-service portal where customers can view, download and print invoices, open disputes and inquiries and settle their accounts easily online.

Automated invoice reminders, real-time updates on outstanding disputes and ability to pay with ACH, EFT and credit cards, allows your customers to stay on top of their account effectively. The self-service portal keeps track of all invoices and payments, providing a full history of every interaction with your business for their records.

With VersaPay ARC you can present you customers with a one-stop environment that they will truly appreciate.

Make customers happy

With a self-service portal for invoicing and payment, your customers will appreciate using VersaPay ARC to view invoices, open disputes and make payments. Click on the tabs below to see how ARC's features will not only make your team happy but your customers too.

Convenient access for your customers to view their invoices 24/7/365 in a self-service portal

Online invoice presentment will not only speed up invoicing processing time but reduces the need to resend invoices. VersaPay ARC automatically presents invoices with supporting documents to your customer self-service portal, where customers can view, download and print invoices at their convenience 24/7/365:

  • Multiple invoice layouts: Support for different types of invoices depending on division, product/service and customer.
  • Support documents: Store and manage additional documents in support of invoices.
  • Express customer access: Secure end customer access to invoices without the need to sign into the portal. Drives e-adoption by removing hurdles to going online.
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Allow customers to inquire, dispute and resolve invoices with online collaboration in a self-service portal

If customers have invoice inquiries or disputes, they call, email, short pay or don’t pay at all. This forces your team to make high volumes of collection calls, sift through multiple email threads and ponder the reasons behind short pays. With no centralized way to interact with customers or track notes on accounts, communicating with them can be a challenge.

With VersaPay ARC, customers can initiate disputes and inquiries online and your team will be notified real-time to resolve them. Improve customer satisfaction and reduce payment delays with these key features:

  • Collaboration at invoice level: If a customer has an issue about an invoice, they can initiate an inquiry / dispute at the invoice level to notify your team. Your team can reply directly in ARC with full tracking of conversations at the invoice level and customer level to improve efficiency and increase visibility.
  • Required short pay notes: If a customer short pays an invoice, ARC requires a note to be entered before they can proceed. This provides visibility into any issues for your team.
  • Automated notifications: Send a variety of automated and customized notifications to your customers to help them keep on top of their accounts including overdue invoices, payments received, and updates on the status of disputes.
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Offer flexible payment options to your customers to get paid faster

With a self-service portal that accepts payments online securely, your customers will pay you faster using the method they prefer to settle their invoices.

Customers can select invoices they want to pay, and pay them instantaneously with:

  • Electronic funds transfer (EFT),
  • Automated Clearing House (ACH)
  • Credit cards

With automatic cash application, VersaPay ARC automatically matches the payments made on ARC to invoices and reconciles them with your enterprise resource planning (ERP) system.

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“At McClatchy, we receive numerous invoices from NEWSCYCLE SOLUTIONS each week.  Since we started using the new VersaPay AR platform, we became more effective at viewing our invoices, managing workflows, and generating reports, including the information on current balances. It helps our team save valuable time, and we love it as a result.”

McClatchy Sabrina Topps, Customer Adoption

The right platform for your needs

Let your accounts receivable staff focus on truly important things while ARC automatically looks after the basics.

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PCI Compliance

VersaPay is a PCI Level 1 Service Provider, which means that we’ve passed the most rigorous on-site security audits, full penetration, and vulnerability testing. As a result, we provide the highest level of security for your customers’ data, payment, and card acceptance requirements.

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System Integration

Our cloud-based intelligent accounts receivable solution seamlessly integrates with your enterprise resource planning (ERP), and accounting systems. With VersaPay’s team of integration experts, we take on the heavy lifting  with minimal involvement of your IT resources for integration, so they can continue to focus on your daily priorities.

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Customer Adoption

So, you are thinking about launching a self-service invoicing and payment platform, but the big question is, will my customers use it? VersaPay has that covered with our e-adoption program and express user adoption. Our client success managers will help you move customers from the paper-based, email process they know, to an online invoicing system they will love. VersaPay has a successful program to make your customers happy and move them online to your self-service portal.