TORONTO, July 24, 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 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."
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
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activities, events or developments that the Company expects or
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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
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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
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that forward-looking information will prove to be accurate, as
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SOURCE VersaPay Corporation