Traditional AR automation solutions focus on automating back-end functions—including cash application and deduction management—yet aren't focused on the front office.
Versapay goes beyond traditional autonomous receivables by giving your AR team collaboration tools to boost efficiency and accelerate cash flow.
Automation that eliminates inefficient, manual processes is just one piece of the pie. Versapay empowers the genius of teams with Collaborative AR automation that transforms your customer’s experience from invoice to cash collection.
By connecting buyers and sellers over the cloud through a dedicated portal, we elevate the efficiencies gained from traditional autonomous receivables.
Increase efficiency by automating virtually all routine accounts receivable tasks in the cloud, including invoicing, collections reminders, payment processing and reconciliation. Plus, automatically sync all data back to your ERP.
Go beyond automation and transform your AR processes by collaborating with customers throughout the invoice and payment lifecycle. This includes messaging directly on invoices, so you can resolve disputes faster and with better documentation, improving customer experience.
HighRadius’ autonomous receivables technology is mainly focused on streamlining the invoice-to-cash process through automation—and not on growing accounts receivable's front office potential. This traditional approach fails to consider the customer.
In a profession where communication and collaboration can turn the tides and accelerate cash flow, Versapay brings AR teams and customers together over the cloud. This drives faster solutions to invoice issues that only humans can address together.
Collaborative accounts receivable payment portals accelerate payments, automate cash reconciliation, enable greater insight into collections, and improve customer experience.
But only if customers are actively using them.
HighRadius encourages platform adoption through offering in-application promotional campaigns. Because our cloud-based, self-service customer portal needs little support and is easy to use, we boast the highest customer adoption rate in the marketplace.
According to G2, top enterprises love Versapay's Collaborative AR solution, rating our ease of use, supplier, and customer portal above HighRadius’. That’s why industry leaders choose Versapay to automate their accounts receivable, including:
HighRadius put automation on the map. Versapay makes it a destination. Our Collaborative AR platform goes beyond autonomous receivables combining industry-leading AR automation with easy-to-use collaboration tools and a next-generation B2B payment network.
Using HighRadius means having to purchase module after module (after module).
Versapay is all-in-one, meaning you get cash application, AR automation, and collections functionalities all rolled into one easy-to-use package.
Share data and account information with your customers in real-time. Address questions, errors, or missing documentation in the cloud, and put an end to delayed payments.
A shared portal means you and your customers are always engaged and working collaboratively.
Your AR team expects their customers to pay quickly. Why should their service and support expectations be different? HighRadius offers global support, but the turnaround for requests is slow.
Versapay’s North American teams provide advanced levels of implementation support and service.
As a payment facilitator, we manage the underwriting process (you’re up and running fast) and have considerable control over your experience (no third parties!) including transaction processing, chargeback management, and streamlined billing processes.
Plus, we’ll reduce the number of vendors you need to manage.
Prioritized collector activities, zero-touch collection, timely notifications... Check, check, and check. But we also do more than standardize processes across operations.
Where we shine is in empowering your colleagues and customers to support your AR efforts to drive massive efficiencies.
Manage disputes at the invoice or line-item level and resolve them quickly using real-time messaging and communication tools.
While HighRadius lets collectors route disputes internally, manage dispute statuses, and add notes, they can’t communicate directly with the buyer or resolve issues without having to resend new invoices.
Traditional autonomous receivables platforms like HighRadius do a good job of relieving pain around wasted time, underutilized talent, and delayed cash flow. But what they don’t do well is solve for your most important stakeholders—your customers.
There’s a communication gap between your customers and AR department—the AR Disconnect. It causes significant issues that AR automation alone won’t fix. In fact, relying only on automation to bridge the gap could make things worse. To transform your AR, you need drastically improve the customer experience, which Versapay’s Collaborative AR platform achieves in spades.
Versapay solves a mundane and complicated problem that companies spend a tremendous amount of time, energy, and dollars trying to. After deploying, our customers are happy to have a handle on everything and can have more meaningful, natural interactions with us.
Discover how pairing self-service cloud-based tools that foster collaboration and transparency with world-class automation technology will eliminate many of the problems that slow down payments and drive inefficiency.
Are you interested in automating accounts receivable but still have questions like:
Learn how to choose accounts receivable automation software with this guide. It even comes with 12 interactive checklists to help you confidently choose the best solution.
Collaborative Accounts Receivable is a new, customer-focused way of managing receivables—and you’ll only find it with Versapay.
Instead of just automating back-office AR tasks, Collaborative AR also connects buyers and sellers over the cloud to speed up payments, eliminate inefficiencies, and deliver significantly better experiences.
Autonomous receivables—or traditional accounts receivable automation—is an approach to automating AR that focuses on automating existing, back-office receivables tasks.
By not connecting buyers and suppliers in a shared cloud-based digital experience, autonomous receivables fails to improve customer experience and only marginally improves your bottom line.
Traditional AR involves a standard set of processes for managing what a company's customers owe for goods/services they have provided but have yet to receive payment for.
It relies highly on manual tasks and back-and-forth communication over outdated channels like phone and email. Collaborative AR, on the other hand, streamlines accounts receivable processes by connecting buyers and sellers digitally, over the cloud, allowing unparalleled communication and transparency.
Versapay’s Collaborative AR automation platform and B2B payment network transform AR departments to drive efficiency, accelerate cash flow, and dramatically improve the customer experience.
It does this by connecting AR departments with their customers over the cloud. This approach empowers collaboration and transparency, eliminating many of the problems that slow down payments and cause inefficiencies while empowering customers with self-service.
HighRadius is used for Autonomous Finance. This includes a number of services, including credit, cash application, forecasting, account reconciliation, and more.
In comparison to Collaborative AR, what Autonomous Finance truly lacks is the ability to empower in-platform communication and collaboration, instead focusing on back-office tasks. This limits how efficiently disputes and questions can be resolved, as well as how they are tracked.
Companies across a wide variety of industries use Versapay, including manufacturing, distribution, commercial real estate, and many more. We typically serve Mid-Market and Enterprise-level companies, though we welcome businesses of all sizes.
Companies that use Versapay also tend to be those who are looking to truly transform AR, rather than just automating back-office tasks.
HighRadius is generally used by Enterprise-level ($1B+) companies. HighRadius users are typically focused more on back-end functions as key value drivers such as cash application/ACH matching, and deduction management.
Versapay serves clients in a number of industries, including but not limited to Construction, Commercial Real Estate, Distribution, and Manufacturing.
HighRadius serves customers in industries such as Staffing, Consumer Packaged Goods, and Wholesale Distribution, among others.