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Versapay Further Enhances Client-Centric Focus With New Organization Structure

Published on 4 min read

Toronto, ON – September 12, 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, today announced a new organization structure to better position the company to scale its client-facing operations as growth of its client base continues to accelerate.

A newly combined group covering both professional services and client success will support the entire lifecycle of new and existing clients. Geoff Kent joins the Company as VP Client Services with responsibility for implementation, integration, solutions, client success and support. Mr. Kent’s prior roles include leading B2B programs for Fortune 500 companies across airline, automotive, hospitality and financial services verticals. He has led the implementation of SaaS-based client solutions throughout the full cycle, from sales to market launch and ongoing client relationships. Prior to joining Versapay, Mr. Kent was Vice President OEM Integrations at Dealers-FX and previously served in multiple executive roles at Points.

Andrea Peattie rejoins the company as VP People Operations. In her role Andrea is responsible for recruiting, process and tools development, knowledge-sharing, training, and leadership development. Andrea previously worked with Versapay for 5 years as the Implementation and Client Services Lead. She spent the past 2 years at a non-profit organization as Operations Lead and Head of Client Success.

The engineering team will be integrated with the product group under Jason Read, Chief Product Officer to provide a more streamlined approach to product development and drive continued innovation in the ARC platform. The Company’s CTO Eddie Chan is leaving the company to pursue other opportunities. To assist with the transition Mr. Chan will continue as a strategic advisor on an interim basis.

“I’m pleased to announce these organizational changes as we scale the Company to serve more and more clients,” said Craig O’Neill, Chief Executive Officer of Versapay. “Geoff is an experienced leader with a history of delivering integrated solutions for multinational companies, and we are excited to have him join the team. Of course I am thrilled to have Andrea rejoin us in her new capacity as she helps us grow and equip our teams. And finally, I would like to say a sincere thank you to Eddie for his energy and commitment to Versapay over the past two and a half years. We wish him well as he pursues new opportunities.”

About Versapay

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.

More information about Versapay is available at www.versapay.com or under the Company's profile on SEDAR at www.sedar.com.

For additional information, please contact:

John McLeod
Vice President, Marketing
Versapay Corporation

Babak Pedram
Investor Relations
Virtus Advisory Group Inc.

Forward Looking and Other Cautionary Statements

This news release contains “forward-looking information” which may include, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Such forward-looking information is often, but not always, identified by the use of words and phrases such as “plans,” “expects,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may,” “could,” “would,” “might” or “will” be taken, occur or be achieved.

These forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect our current judgment regarding the direction of our business. Management believes that these assumptions are reasonable. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, risks related to the speculative nature of the Company’s business, the Company’s formative stage of development and the Company’s financial position.

Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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