Toronto, ON – May 16, 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 a billion dollar, global manufacturer of private label apparel products has signed with the Company to implement ARC, their proprietary accounts receivable and collections management solution.
The client was seeking a solution that would provide a centralized and completely transparent view into the invoice-to-cash process while driving cost reductions and providing faster payment processing across multiple payment types. Versapay was awarded the contract as a result of their unmatched ability to offer the functionality on a highly scalable level. In addition, the Company’s AR analytics functionality was of critical importance to the client, who is seeking to support a large volume of smaller customers with the platform.
“I am delighted to welcome this global apparel manufacturer to the ARC community,” said Craig O’Neill, CEO of Versapay. “This win further demonstrates the extensive capabilities of our solution and its ability to help large enterprises accelerate their digital transformation and enhance their finance operations.”
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.
For additional information, please contact:
Vice President, Marketing
Virtus Advisory Group Inc.
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