17 04, 2018

VersaPay Announces Cargas Systems as Their First Gold Referral Partner

2018-04-16T19:49:22+00:00 April 17th, 2018|

Pittsburgh, PA ; Toronto, ON – April 17, 2018 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that Cargas Systems, a Pennsylvania-based business software and consulting organization, is the first Gold Partner of VersaPay’s new Partner Program. Upon being introduced to VersaPay ARCTM, Cargas immediately recognized how AR automation would be attractive to their clients. By addressing key challenges in the AR process and eliminating manual tasks, this solution will allow their clients to reduce DSO, improve cash flow, and increase working capital. “We view VersaPay’s intelligent AR solutions as part of a modern finance system, automating AR tasks and allowing forward looking finance professionals to focus on high-value analysis,” said Mike Yeager, Vice President, Cargas Systems. “Our partnership with VersaPay will bring shared Read More

12 04, 2018

G6 Hospitality Signs Agreement with VersaPay to Deploy ARC

2018-04-12T13:05:26+00:00 April 12th, 2018|

Dallas, TX ; Toronto, ON – April 11, 2018 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce  a new partnership with G6 Hospitality LLC, parent company of the iconic lodging brands Motel 6 and Studio 6 to deploy the ARC® platform. “As part of our continuous focus on improving daily interactions with our franchisees and business  partners, we identified specific areas to enhance including business customer access to their information, payment options, and enhanced communication,” said Perry Ping, Vice President & Controller of G6 Hospitality. “With the addition of ARC, we will have near real time access to comprehensive dashboards, proactively manage outstanding receivables and provide a better experience for our business partners.” “By implementing ARC we will eliminate numerous manual steps in our Read More

20 03, 2018

VersaPay Surpasses 100,000 Businesses on ARC Platform

2018-03-20T05:45:45+00:00 March 20th, 2018|

Toronto, ON – March 20, 2018 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that the Company is now serving more than 100,000 businesses on the ARC®️ platform. This important milestone has been achieved within 3 quarters of hitting the 50,000 threshold, a clear indication of the acceleration in ARC adoption. As the Company continues to sign new clients (suppliers) to use VersaPay ARC, the number of businesses (end-customers) using the platform to review their invoices and accounts and make payments electronically continues to grow exponentially. Once a supplier begins to use the platform, they in turn engage with their customer base using ARC to facilitate their invoice-to-cash processes. The more customers they have the more businesses that are exposed to and ultimately use Read More

15 02, 2018

VersaPay Selected By ReedTMS Logistics To Automate Their Invoice-To-Cash Cycle

2018-02-15T06:51:00+00:00 February 15th, 2018|

Tampa, FL ; Toronto, ON – February 15, 2018 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that ReedTMS (“Reed”) has selected VersaPay ARCTM to automate its accounts receivable and collections processes. Reed sought a solution that would automate its accounts receivable process in order to increase efficiency, accelerate the collections process and support expansion, without adding additional staff. By implementing VersaPay ARC, Reed expects to see a significant reduction in Days Sales Outstanding (DSO) through a host of customer collaboration and collections tools and by providing customers with multiple electronic payment options. “The solution VersaPay is putting in place for us will enable us to automate the manual daily tasks required to support our invoice-to-cash process,” stated Mark Reed, President and CFO of Read More

1 02, 2018

VersaPay Wins TSXV Canadian Tech Stock of the Year and Executive of the Year Awards at Cantech Investment Conference 2018

2018-02-01T07:00:29+00:00 February 1st, 2018|

Toronto, ON – February 1, 2018 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today is pleased to announce that it has won the TSXV Canadian Tech Stock of the Year award and CEO Craig O’Neill was named the TSXV Tech Executive of the Year at the Cantech Investment Conference 2018. The TSXV Tech Stock of the Year and Executive of the Year awards are determined by 38 industry analyst experts who cover the Canadian technology sector. The winner was announced January 31, 2018 at the Cantech Awards Gala. “It is an honour to be recognized among peers and industry leaders as the Tech Stock of the Year,” said Craig O’Neill, CEO of VersaPay. “2017 was an incredible year for us as we achieved broad recognition as the Read More

23 01, 2018

Big 4 Accounting Firm Signs Agreement to use VersaPay’s AR Automation

2018-01-23T07:00:45+00:00 January 23rd, 2018|

Toronto, ON – January 23, 2018 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce they have signed a “Big 4” accounting firm to use ARC™ to automate their invoice-to-cash process. As a thought-leader in accounting best practices, the firm recognized the benefits of providing customer self-service and process automation to increase customer satisfaction and streamline internal operations. As a leading audit firm, security was also a key consideration. It was crucial that the solution meet the highest standards of security and reliability. “We are delighted to have won the confidence of one of the leading accounting, audit and advisory firms in the world,” stated Craig O’Neill, CEO of VersaPay. “What better way to send a message to finance executives in all of the industries we Read More

12 12, 2017

VersaPay Signs Floral Distributor As The Newest Client To Adopt ARC, Its Invoice-To-Cash Solution

2017-12-12T06:30:29+00:00 December 12th, 2017|

Toronto, ON – December 12, 2017 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced that one of Canada’s largest floral distributors has signed on to use ARC™, the Company’s innovative invoice-to-cash solution. The client was looking for a robust solution to create a stronger online relationship with their customers. Like any business, the invoicing and payment process is foundational to cash flow and customer satisfaction, so they required a highly secure and reliable solution, but just as importantly, a platform with a proven track record of high customer adoption and satisfaction. The client currently issues 10,000 invoices per month, half by email, and half by mail. In introducing ARC™ their goal is to eliminate most of the paper and to drive a high percentage of digital Read More

21 11, 2017

VersaPay Signs Agreement With Waste Management Company To Provide Accounts Receivable Automation Platform

2017-11-21T07:00:39+00:00 November 21st, 2017|

TORONTO, Nov. 21, 2017 /CNW/ - VersaPay Corporation (TSXV: VPY)("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced that a major waste management company has become the newest client to use its invoice-to-cash automation solution. The waste management company decided to offer a new digital environment to their customers, making it easier to do business together. The client expects to realize significant efficiencies by automating manual tasks such as sending overdue notices and manually applying payments. What's more their AR staff can now view account level information consolidated by division or across the enterprise. This enables a more proactive approach to understanding and improving their key accounts receivable performance metrics. "We are seeing an increasing number of larger enterprises express interest in improving their accounts receivable function as finance departments have to Read More

16 11, 2017

VersaPay Announces Q3 2017 Financial Results, Key Leadership Changes and Strong Metrics Growth

2017-11-16T10:05:37+00:00 November 16th, 2017|

- Software Revenue Grows by 97.5% Year over Year - Toronto, ON – November 15, 2017 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced third quarter ("Q3") financial results for the three and nine months ended September 30, 2017. “We achieved several important objectives this quarter,” said Craig O’Neill, CEO of VersaPay, “We established our US expansion plan, strengthened our sales leadership to execute the plan, and closed a private placement for $10.7 million to fund the plan. Meanwhile we continued to see strong growth in our revenues, gross margin and ARC metrics. These achievements are important steps on the path to achieving our longer term growth objectives.” Q3 2017 Financial Results: The following highlights treat the Company’s POS Merchant Services business as a discontinued operation. Revenue for Q3 2017 increased by 97.5% to $0.78 Read More

26 10, 2017

VersaPay Achieves New Milestones As It Scales The Number of Companies Using ARC, Its Invoice-To-Cash Automation Platform

2017-10-26T06:01:51+00:00 October 26th, 2017|

Toronto, ON – October 26, 2017 – VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced that it has achieved significant new milestones with ARC™, its invoice-to-cash automation platform. 77,500 end customers are now using VersaPay ARC to receive and pay invoices, representing growth of nearly 50% since the beginning of Q3. This is a key metric the Company monitors to measure real growth and the future trajectory of the platform. The number of clients using ARC to issue invoices and get paid electronically has grown to 120 including a number of larger enterprise accounts. The growing mix of larger clients has accelerated the rate of growth in the number of end customers, a trend the Company expects to continue. “We are gaining stride with ARC not only Read More

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