TORONTO, Oct. 16, 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 has signed a North American supply chain solutions provider (the "Client") with more than 500 operating locations and 60,000 carriers.
The Client recently acquired a company that has been using VersaPay ARCÒ for more than two years, and their experience has been so positive that they recommended the solution to their new parent. After reviewing the results their newly acquired division had achieved with ARC, the Client elected to implement the solution across its entire business, providing a great self-serve experience to its customers, and driving cost savings in the Finance department.
"We are very pleased to work alongside this North American supply chain company as they automate their AR process and make it easier for their customers to do business with them.," said Craig O'Neill, Chief Executive Officer of VersaPay. "That this win is the result of an existing client's experience is a testament to the positive impact ARC has on our clients' businesses."
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.
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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.
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SOURCE VersaPay Corporation
John McLeod, Chief Marketing Officer, VersaPay Corporation, 647-258-9406, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]
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