Jacksonville, FL ; Toronto, ON – April 24, 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 it has added Regency Centers as the latest organization to implement ARCTM.
With nearly 430 locations, Regency Centers is one of the largest grocery-anchored shopping REITs, based in the U.S. Regency was seeking an innovative solution that would help them proactively manage their growing list of tenants by offering account transparency and industry-leading reporting tools. Furthermore, Regency wanted a platform that would drive higher engagement rates among tenants and lead to a higher recovery rate of outstanding accounts receivable claims.
“In seeking a solution, we used a detailed due diligence approach and compared a number of technology providers and banks that could potentially meet our needs,” said Dale Johnston, Chief Information Officer for Regency Centers. “As part of our process, we found Versapay had the most comprehensive technology available on the market, and were able to fulfil the solution requirements as we envisioned moving us to the next level. Part of our company’s mandate is to be an industry leader in the integration of technology solutions to enhance and increase efficiency in our relationships with tenants, and we believe that VersaPay helps us achieve that goal.”
“With a consistent track record of wins over the past year ARC has become the new standard in AR automation for commercial REITs,” said Craig O’Neill, CEO of Versapay. “We are very pleased to have been selected by Regency after such a thorough evaluation process, and we are excited to work with them to enhance their tenants’ experience while streamlining Regency’s internal processes.”
About Regency Centers Corporation (NYSE: REG)
Regency Centers is the preeminent national owner, operator, and developer of shopping centers located in affluent and densely populated trade areas. Our portfolio includes thriving properties merchandised with highly productive grocers, restaurants, service providers, and best-in-class retailers that connect to their neighborhoods, communities, and customers. Operating as a fully integrated real estate company, Regency Centers is a qualified real estate investment trust (REIT) that is self-administered, self-managed, and an S&P 500 Index member. For more information, please visit regencycenters.com.
About Versapay Corporation (TSXV: VPY)
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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