Versapay vs HighRadius

‎Versapay vs HighRadius‏‏‎ ‎‎

The leader in Collaborative AR

Traditional AR automation solutions like HighRadius focus on automating back-end functions like cash application and deduction management.

Versapay goes beyond traditional automation by giving your AR team collaboration tools to boost efficiency and accelerate cash flow.

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  • $60bprocessed annually
  • 900kbuyers engaged
  • 40minvoices delivered annually
  • 8000customers
Why Versapay?

Versapay brings a human edge to collections

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 AR automation.

Step 1: Automate

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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.

Step 2: Collaborate

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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.

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AR automation solution that defies tradition

Modern experience

HighRadius’ technology is mainly focused on automating the invoice-to-cash process through automation. This traditional approach fails to account for 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.

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Online portals your customers will love (and actually use)

Sky-high platform adoption

Online 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.

  • Industry average customer adoption: 20%
  • Versapay’s customer adoption: 81%
G2 Awards

The clear-cut, mid-market choice

High (out)performers

Top enterprises love Versapay, rating our ease of use, supplier, and customer portal above HighRadius’. That’s why industry leaders choose Versapay to automate their accounts receivable, including:

  • 2 of the 10 largest US food distributors
  • 2 of the 10 largest US building material manufacturers
  • 13 of the 100 largest US credit unions
  • 9 of the 65 largest US banks
  • 10+ fortune 500 companies, including Intuit, Coldwell Banker, PepsiCo, and US Foods
Versapay vs HighRadius

The features that set us above

HighRadius put automation on the map. Versapay makes it a destination. Our Collaborative AR platform combines industry-leading AR automation with easy-to-use collaboration tools and a next-generation B2B payment network.

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More with less

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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.

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Cloud-based tools

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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.

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Timely service and support

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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.

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No-fuss onboarding

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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.

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Collaborative, intelligent collections

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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.

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Better control over disputes

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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.

Collaborate with customers over the cloud

Customer cloud

Traditional AR automation 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 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.

  • 50reduction in manual work
  • 30decrease in past-due invoices
  • 95customer satisfaction rate

Trusted by leading businesses

  1. BXP boston properties logo COLOR
  2. Tire Hub Logo Resized
  3. Sharp logo
  4. Intuit logo
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.
Ashok Vantipalli, CTO and CIO, TireHub
  • 200hours saved
  • 50reduction in the value of overdue accounts
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Close the gap between your AR team and customers

Get a demonstration of Versapay’s Collaborative AR automation platform. 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.

Book a demo
Wakefield and Versapay report cover: The state of digitization in B2B finance

Wakefield + Versapay: The State of Digitization in B2B Finance

Not ready for a demo? How about learning why C-level executives say the traditional invoice-to-cash process isn't effective?

Or what happens when digital transformation efforts only focus on automating internal processes and ignore the customer? Spoiler: the impact is significant.

  • 82% of executives say their company has lost revenue due to miscommunication in the payment phase.
  • 64% say that invoice issues have led to a lawsuit or threat of one, and
  • 73% say their current AR processes negatively affect customer experience.