TORONTO, Nov. 13, 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
Ideal Supply, a leading electrical supply distributor, is the
latest distribution company to sign up for VersaPay ARCÒ.
Historically issuing a high volume of paper invoices across
regional clients and receiving payment via cheques, Ideal Supply
was seeking a frictionless solution that would lower processing
costs, reduce the receivables timeline and offer an improved
customer experience.
With VersaPay ARC, Ideal Supply's customers will have access to
their invoices and supporting documents 24 x 7, 365 days a year,
through a secure customer portal. The customers will experience a
consistent Ideal Supply branded environment that is intuitive,
easy-to-use and PCI Level 1 secure.
"VersaPay offered an innovative solution that accelerates our
digitial transformation. ARC will help us reduce our DSO
(Days Sales Outstanding) and the costs associated with collections,
at the same time as enhancing the experience we can provide for our
customers," stated Chris Moon,
Director of Information Technology. "Ultimately, a paperless
solution is a win-win for us and our customers as the accounts
receivable process becomes more streamlined, and we expect to gain
greater insights which will help us improve our financial
operations and profitability."
"We're delighted to welcome Ideal Supply to the growing list of
distribution companies that are selecting ARC to help them
transform their invoice-to-cash process," said Craig O'Neill, CEO of VersaPay. "Wholesale
distribution is a sector where we are seeing strong demand for our
software, fuelled fundamentally by the strong ROI generated as a
result of implementing ARC."
About Ideal Supply
Ideal Supply is an Ontario
electric supply distributor and NAPA's largest independent auto
parts distributor. The company offers a large inventory of
wholesale industrial, safety and electrical supplies, generators,
new energy, automation and data comm services. For more information
visit www.idealsupply.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.
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SOURCE VersaPay Corporation