TORONTO, Oct. 26, 2017 /CNW/ - 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, today
announced that it has achieved significant new milestones with
ARCTM it's invoice-to-cash automation platform.
77,500 end customers are now using VersaPay ARC to receive and
pay invoices, representing growth of nearly 50% since the beginning
of Q3. This is a key metric the Company monitors to measure real
growth and the future trajectory of the platform. The number of
clients using ARC to issue invoices and get paid electronically has
grown to 120 including a number of larger enterprise
accounts. The growing mix of larger clients has
accelerated the rate of growth in the number of end customers, a
trend the Company expects to continue.
"We are gaining stride with ARC not only by adding new clients
but also by acquiring large clients that have tens of thousands of
customers who will ultimately use ARC," stated Craig O'Neill, CEO of VersaPay Corporation. "The
pace of activity we are seeing in the market right now is building
dramatically. With the heightened awareness of potential clients
and our expanded market reach through our channel partners, we
expect to acquire new and larger clients at an accelerating
rate."
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 is available at www.versapay.com
or under the Company's profile on SEDAR at www.sedar.com.
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. The specific metrics
referenced in this release are non GAAP measures.
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.
SOURCE VersaPay Corporation