Toronto, ON – October 1, 2019 – Versapay Corporation (TSXV: VPY) ("Versapay"), 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 it has been selected by another large US distributor (the “Client”) to implement Versapay ARC to transform their invoice-to-cash process.
The Client, a distributor of heating, air conditioning, refrigeration equipment and supplies continually seeks to provide their customers and contractors unsurpassed customer service and support. Recognizing billing and payment as important parts of the overall customer experience, they decided to substantially improve their accounts receivable and collections processes. Versapay ARC was selected for its ability to make billing and payment easy for customers. The client issues 70,000 invoices per month and is looking forward to achieving over 80% customer adoption and enthusiastic customer reviews. Versapay will replace an existing AR solution with a modern, best-in-class offering.
“We continue to make great strides in the distribution industry and we’re just getting started,” said Craig O’Neill, Chief Executive Officer of Versapay. “We’re seeing significant growth in demand for enterprise-class AR Automation that can improve customer experience and Versapay is uniquely positioned to deliver on this trend.”
Versapay is a Fintech company and leading provider of cloud-based invoice-to-cash solutions, enabling businesses to provide a superior customer experience, get paid faster, streamline financial operations, and dramatically reduce DSO and costs. Versapay ARC is the new standard in accounts receivable and collections management with a customer self-service environment to view invoices online, collaborate on inquiries and disputes, and facilitate secure online payments (EFT/ACH and credit card). Businesses gain access to a suite of powerful tools that enable efficient collections, cash application and real-time insight into accounts receivable. Versapay ARC automatically reconciles payments and account information through integrations with a wide range of ERPs and accounting software providers.
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