Accounts Receivable is changing. What was standard practice 20 years ago, is obsolete today. New technologies are transforming every aspect of the invoice-to-cash cycle, from how we send invoices and accept payments, to how our customers expect to engage with us. Finance organizations across all industries need to evolve to stay competitive.
IDC recognizes this change and in March 2019 released the inaugural MarketScape for Worldwide SaaS and Cloud-Enabled Accounts Receivable Applications. The MarketScape is an in-depth analysis of the AR software companies that have taken great strides to address the challenges faced by today’s AR professionals. IDC has profiled and assessed the capabilities of these software companies and has named Versapay as a leader—the highest possible designation.
The MarketScape report evaluated 8 accounts receivable software vendors across a number of different criteria, including how they addressed these top AR challenges:
- Data management
- Process management
- Time management
- Customer management
- Payment management
- Cash management
The report noted that “AR is incredibly nuanced and extremely challenging” and provided the following advice for technology buyers: “Accounting applications are evolving rapidly as vendors are investing research and development dollars into bolstering, augmenting, and, in some cases, redesigning their AR applications. As a result, it is extremely important for end users to understand how vendors and their solutions are positioned currently as well as how those vendors and their solutions may be positioned in the next three to five years.”
“Versapay provides large enterprises with a solution that delivers a positive impact on key aspects of their invoice-to-cash process. As a result of conversations with their large clients, it is evident that Versapay software is a must consider solution. IDC anticipates Versapay will continue to grow their market presence well into the future.” - Kevin Permenter, Senior Research Analyst, IDC.
At Versapay, we understand how complicated accounts receivable is – and how important. We’re committed to pushing AR technology forward to enable you to work as efficiently and effectively as possible and are proud to be recognized as a leader in this new and growing space.