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.
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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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.
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