TORONTO, July 24, 2018 – VersaPay Corporation (TSXV: VPY) (“VersaPay”), 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 major distributor (the “Client”) has selected VersaPay ARCâ as its AR and collections management solution for its U.S. and Canadian operations.
The Client was actively seeking a solution that would manage and reduce the use of paper invoices, provide a best-in-class online experience for customers, and automate the collections process, replacing its existing collections management solution. VersaPay’s technology was selected as it is the only integrated platform to deliver all of this and more. ARC will automate the end-to-end invoice-to-cash process for over 200,000 invoices per month delivered in 3 languages across North America.
“We are delighted to add another large distributor to our rapidly growing client list and are extremely pleased at the strong alignment between what distributors need and what ARC does so well,” said Craig O’Neill, CEO of VersaPay. “ARC’s proven ability to convert at least 75% of our clients’ customers from paper to an online experience, automating manual work and providing flexible electronic payment options, offers a very compelling return on investment to distributors with tens or hundreds of thousands of customers.”
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.
Forward Looking and Other Cautionary Statements
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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.
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SOURCE VersaPay Corporation