BOSTON and TORONTO, July 10,
2018 /CNW/ - 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 it has signed Boston
Properties, one of the largest owners of first class office
properties in major US cities, to implement ARC, VersaPay's
accounts receivable and collections management solution.
Boston Properties continues to scale their business and property
ownership through active developments and acquisitions of assets
across the United States. The
company sought an automated receivables and payment solution to
streamline its receivables and collections processes and equip its
team with data and tools to serve tenants more effectively.
"When you are spending a higher percentage of time collecting
smaller outstanding amounts, how do you change the dynamic with
tools that enable more effective interaction with your customers,"
said Jim Whalen, SVP and CIO/CTO of
Boston Properties. "VersaPay has built a robust platform to support
commercial real estate companies that will provide self-service and
payment options along with a centralized interface for our internal
teams."
"VersaPay's technology improves our tenant experience and is a
natural and logical next step," said Jeff
Phaneuf, VP Finance and Planning of Boston Properties. "We
believe the implementation of ARC will improve our reporting while
accelerating the collection of outstanding receivables."
"We are excited to be working with Boston Properties," said
Craig O'Neill, Chief Executive
Officer of VersaPay. "Boston Properties owns some of the most
iconic properties in the US, and winning their business is further
testament to the value our technology and team provide to the
largest and most successful commercial real estate management firms
in North America."
About Boston Properties
Boston Properties, Inc. a self-administered and self-managed
real estate investment trust (REIT), is one of the largest owners,
managers, and developers of first-class office properties in
the United States, with
significant presence in five markets: Boston, Los
Angeles, New York,
San Francisco and Washington, DC.
More information about Boston Properties is available
at www.bostonproperties.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
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actions, events or results "may," "could," "would," "might" or
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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
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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
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SOURCE VersaPay Corporation