TORONTO, Sept. 25, 2019 /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 presented to a capacity audience at its Investor Forum held
yesterday in Toronto.
The Forum was attended by a range of enthusiastic participants.
Presentations were delivered by VersaPay partners, clients and
company CEO Craig O'Neill. During
his presentation Mr. O'Neill announced that VersaPay had just
signed a new partnership agreement with US Bank. The deal leverages
the respective strengths of the two companies to offer AR
automation to US Bank's commercial real estate customer portfolio.
Additionally, there were four key themes that arose from the
event.
The Era of Customer-Centric AR has
arrived: Customers' expectations of their vendors are
higher than ever – and these expectations are driving the
end-to-end customer experience, including the invoicing and payment
process. Thanks to great online consumer services for shopping,
banking, travel and customer support, business customers are now
demanding similar services – offerings that are online and
available 24x7, for fast, efficient service. This is further
validated by clients. "Those customers that are experiencing
VersaPay right now have voiced how excited they are about the
platform," stated John Shamanis, CFO, Carrier Enterprise. "From a
customer experience stand point this is one of the best options
I've seen," said Traci Leffel,
Director of Finance, Rocket Industrial.
B2B digital payments are taking over from checks: Two
thirds of businesses are now receiving more than 30% of their
payments in a digital format, based on a recent study profiled in
the Harvard Business Review. Banks, fintechs and the world's
leading payment networks have launched major initiatives to drive
the adoption of digital payments. VersaPay has experienced growth
of 394% in electronic payment volume since the beginning of
2018.
Awareness of the AR Automation opportunity is increasing
daily: IDC recently launched the inaugural MarketScape for
Worldwide SaaS and Cloud-Enabled Accounts Receivable Applications,
naming VersaPay a Leader in the space. As market awareness builds,
the number of companies looking for a solution continues to scale
as demonstrated by inbound leads and the increasing number of
qualified opportunities in the sales funnel.
VersaPay is well positioned to capitalize on these
trends: The company has developed the leading solution for
Customer-Centric AR and has achieved strong momentum in key
vertical markets. Two leading North American banks, a global credit
card brand and ERP companies have selected VersaPay as their
strategic partner to address the significant AR Automation
opportunity with their clients. "We're very thankful for our
clients and partners who participated in our investor forum today,"
commented Craig O'Neill CEO of VersaPay. "Their presentations
served to underscore our conviction that the era of
Customer-Centric AR has arrived, and VersaPay is at the forefront
of this movement, helping suppliers deliver a great customer
experience in how they bill and collect payment."
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.
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SOURCE VersaPay Corporation