1. Resource Library

Versapay Signs Raleigh Enterprises as ARC Client

Published on 4 min read

Toronto, ON – June 5, 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 Raleigh Enterprises (“Raleigh” or the “Client”) has signed with the Company to implement ARC.

Raleigh Enterprises owns four distinct companies each servicing a unique segment of the real estate market. Raleigh was seeking a solution that would allow them to eliminate their reliance on paper-based forms while providing a holistic view of the outstanding receivables across their multiple lines of business.

“After an extensive search for a solution that would seamlessly integrate across all four of our companies, it became clear that Versapay’s technology was the best solution available on the market,” said Lisa Campanaro, COO of Raleigh Enterprises. “Versapay’s ability to manage the AR process and also provide an online payment solution was critical in our decision. Once fully deployed we will have integrated reporting across all four businesses to allow better decision making in real-time.”

“We are pleased to be working with a progressive organization such as Raleigh Enterprises to deploy ARC across all segments of their business,” said Craig O’Neill, CEO of Versapay. “The work with Raleigh highlights yet another key differentiator offered by ARC: real-time reporting across a multi-company enterprise. This level of insight, an up-to-the minute understanding of AR across companies, geographies and currencies, is a game-changer for enterprise CFOs.”

About Raleigh Enterprises

Raleigh Enterprises is a real estate based service company, headquartered on the historic Raleigh Studios lot in Hollywood, with over 400 employees around the globe. Originally started as a general contractor and development firm, the company has participated in all facets of real estate in the ensuing years. Throughout its history, Raleigh successfully developed, purchased, owned and managed over eleven million square feet of real estate. Its projects include office buildings, luxury hotels, commercial shopping centers, film and television studios, industrial buildings, apartments, luxury single-family estates and condominium complexes.

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 can be found on the Company's website 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.

Always stay up-to-date

Join the 50,000 accounts receivable professionals already getting our insights, best practices, and stories every month