TAMPA, FL and TORONTO, Feb. 15,
2018 /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, is pleased to announce that ReedTMS
("Reed") has selected VersaPay ARCTM to automate its
accounts receivable and collections processes.
Reed sought a solution that would automate its accounts
receivable process in order to increase efficiency, accelerate the
collections process and support expansion, without adding
additional staff. By implementing VersaPay ARC, Reed expects to see
a significant reduction in Days Sales Outstanding (DSO) through a
host of customer collaboration and collections tools and by
providing customers with multiple electronic payment options.
"The solution VersaPay is putting in place for us will enable us
to automate the manual daily tasks required to support our
invoice-to-cash process," stated Mark
Reed, President and CFO of Reed. "By eliminating repetitive
tasks we can place more focus on meaningful customer interactions
which happens to be a cornerstone of our continued growth and
success."
"VersaPay is a great choice for logistics companies running
McLeod software, as ARC provides a synergistic and natural
extension of the platform to automate their invoice-to-cash cycle,"
said Craig O'Neill, Chief Executive
Officer of VersaPay. "Given the positive impact we can have on
their financial operations, ARC is a small investment that
translates into an immediate and major return on investment."
About ReedTMS Logistics
ReedTMS Logistics is an asset-based third-party logistics
provider comprised of Reed Transport Services, Inc. and TMS
Logistics Inc. The two companies offer a wide array of
transportation services to customers throughout the United States, Canada and Mexico. Headquartered in Tampa, Fla. with branch offices in
Wisconsin, Ohio, Kentucky, Pennsylvania, Texas, Georgia and Florida. Founded in 1996, Reed Transport
offers high-quality brokerage and freight management services.
Founded in 1997, TMS Logistics is a multimode carrier specializing
in dry van and dedicated fleet services. For more information,
visit www.ReedTMS.com.
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.
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