Accounts receivable professionals deserve recognition for the impact they create, which is why we’re celebrating National Accounts Receivable Appreciation Day in the best way possible—with some well-deserved awards!
The work of an accounts receivable specialist can be strenuous but has a decisive impact that is often only seen behind the scenes. Day-in and day-out, these folks are uncovering new efficiencies and maintaining the lifeblood of the business—cash flow. To celebrate this vital work, we created Versapay’s first-ever, inaugural AR All-Star Awards.
We opened submissions to all our customers—at both the individual and company level—with awards spanning 11 categories, including Most Improved Customer Satisfaction, Collector of the Year, and Best Transition to Digital Payments.
The results are in, and we’re excited to announce the inaugural winners of Versapay’s Accounts Receivable All-Star Awards!
This award category recognizes innovative organizations that have driven significant and measurable change within their businesses using accounts receivable automation software.
[98% Payment Adoption] Highest End-User Payment Adoption - Boston Properties
98% of Boston Properties’ customers onboarded to Versapay are making their payments through the platform.
Boston Properties, a self-administered and self-managed real estate investment trust (REIT), is one of the largest owners, managers and developers of Class A office properties in the United States, with a significant presence in Boston, Los Angeles, New York, San Francisco, and Washington, DC.
[92% Platform Adoption] Highest End-User Platform Adoption - DeVere Insulation
Since implementing Versapay’s accounts receivable automation software, 92% of DeVere Insulation’s customers onboarded to the platform have been active in the portal.
DeVere Insulation provides home and business owners throughout Baltimore, MD, and beyond with high-quality commercial and residential insulation services.
The awards in this category recognize organizations and individuals that have transformed their business’ accounts receivable function, driving significant efficiencies and savings as a result.
[185% Weekly Increase in Digital Payments] Best Transition to Digital Payments - Sharp
Since Sharp Canada and US started onboarding customers to Versapay in March, 2021, the company has seen total digital payments increase threefold week-over-week.
Sharp Corporation is a multinational corporation that designs and manufactures electronics.
[73% Decrease in Past Due Invoices] Largest Efficiency Gains - Engineering Sales Associates
Since launching with Versapay, Engineering Sales Associates has seen a reduction in invoices past due from 33% to 9% within three months.
Engineering Sales Associates is total solutions provider for compressed air systems, providing emergency and preventive maintenance services for air compressors as well as rentals, equipment, and parts.
[+50 Hours Per Week Reduction in Labor] Best ERP Implementation Success Story - Rapid7
After launching with Versapay’s integrated payments solution for NetSuite, Rapid7 is now saving over 50 hours per week and is more confident in the delivery of their communications to customers. Customers now have real-time visibility into the status of all their invoices and payments through their own dedicated portal.
Rapid7, a computer and network security company, helps security teams reduce vulnerabilities, monitor for malicious activity, and investigate and shut down cyberattacks.
[Best-in-Class Days Sales Outstanding] Largest DSO Reduction - Merrill Manufacturing
Using Versapay’s accounts receivable automation software, Heather Copp, Credit/AR Manager at Merrill Manufacturing, reduced her company’s DSO rate such that it’s now best-in-class! The ability to collaborate more easily with customers and an increased automation of reporting have contributed to a decline in the number of late payments.
Merrill Manufacturing is a leader in the water well industry, producing hydrants and other water well accessories.
[Significant Reduction in Support Inquiries] Most Improved Customer Satisfaction - Regency Centers Corp.
After giving their customers increased visibility online into all their account activity through Versapay, Regency Centers observed a reduction in customer support calls and emails from tenants requesting assistance in making sense of their accounts. This has given time back to Regency Centers’ accounts receivable team and allowed field property managers to better support their tenants.
Regency Centers, a self-administered and self-managed real estate investment trust (REIT), is a national owner, operator, and developer of shopping centers.
Nominated by their colleagues, these awards recognize individuals who have made a strong contribution to their organization and work culture.
[70% Reduction in Accounts Over 90] Collector of the Year - Tammy Craft (RPC)
According to her team, Tammy Craft is the real MVP. Since taking over receivables for her company during COVID-19, Tammy has managed to reduce their over 90 days accounts by 70% in the past five months. Before Tammy stepped in and took reins, the organization was at risk of serious cash flow issues.
Woman in AR of the Year - Dawn Driessen (Ryan Companies)
Dawn Driessen is our inaugural AR woman of the year because she rocks! Dawn has demonstrated exemplary leadership by involving her team in rolling out their AR automation cloud from implementation to production. She’s proven her dedication to her team by motivating and inspiring them and constantly ensuring that everyone felt heard and not overwhelmed. Dawn has shown integrity, respect, and excellence in everything she’s done.
Above the Cloud Collaborator - Alec Sorbello (Rapid7)
Alec Sorbello is a true believer that teamwork makes the dreamwork. Alec was instrumental in the rollout of Versapay at his organization, guiding both the team and customers through the process. He connected Rapid7’s Revenue Ops and Collections teams with the IT Business Systems team to implement the platform. Through his work, Alec has demonstrated that he’s a dedicated and committed team member.
Newest Asset - Blade Mitchell (England Logistics)
Blade Mitchell has made a strong first impression with his team. As the new supervisor for the accounts receivable team at England Logistics, he has taken on the company’s AR automation software integration completely. From the first interaction he wanted to ensure that he and his team understood how to utilize the AR cloud platform to the best of their abilities. From asking questions and booking time for additional training, to resolving dilemmas and following up with team members to get answers, he’s been a proactive team member.
Congratulations to all this year’s winners and thank you to everyone who submitted their nominations for the first—of many—Versapay Accounts Receivable All-Star Awards! It wasn’t easy picking only 11 winners, but we can confidently say all the finalists are exceptionally innovative individuals and organizations accelerating their business through the power of digital transformation.
Be sure to keep an eye out for our AR All-Star Awards ebook, where we’ll be showcasing our winners’ stories and sharing the secrets of their success. In the meantime, learn more about the All-Star Awards and how you can join our revered list of winners next year here.