Toronto, ON – July 30, 2019 – 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 multibillion-dollar US based media company has selected ARCâ to automate its invoice-to-cash process. The client sought […]
Monthly Archives: July 2019
Innovative Digital Technologies Positively Impact Every Area of Your Finance Operation
You have the opportunity to use digital technology to protect your margins, free up your cash flow, and improve your customer experience Disruptors such as the Amazon Effect, shifting buyer expectations, and an increase in manufacturers that sell direct-to-consumer are putting your business at risk. According to a survey from Modern Distribution Management (MDM), growth […]
VersaPay Announces Q2 Financial Results Conference Call
Toronto, ON – July 29, 2019 – VersaPay Corporation (TSXV: VPY) (“VersaPay” or the “Company”), will release its second quarter 2019 financial results ended June 30, 2019 on Wednesday, August 7th, 2019 after market close. The Company will subsequently hold a conference call on Thursday, August 8th, 2019 at 9:00 AM Eastern Time hosted by […]
CFOs Not Actively Pursuing Digital Transformation Are Putting Their Business at Risk
Digital transformation is about more than giving customers an online portal so that they can view information online. It’s about using technology across your business to boost efficiencies and provide customers with greater value. To stay competitive and improve the customer experience, you must embrace digital transformation. According to The Enterprisers Project, digital transformation is […]
How Can AR Automation Help Your Employees Work More Efficiently?
Accounts receivable teams undertake many manual and tedious tasks on a day-to-day basis which negatively impacts operational effectiveness and team morale. In this video, VersaPay CMO, John McLeod, describes how businesses can automate many of those manual tasks. By implementing a solution that does much of the heavy lifting, time is freed up to manage […]
The Fear of Financial Loss and Saber-Toothed Tigers
As humans, more often than we’d like, we use our amygdala when confronted with the need to make quick and urgent decisions. This is the Fight/Flight/Freeze portion of our brain. This part of the brain is designed to help keep us safe from nasty predators and other life-threatening scenarios. Thousands of years ago, it protected […]
Hackers Are More Sophisticated Than Ever (and Your Customer Data Is at Risk)
With cyber attacks making headlines almost every day, it’s not a matter of “if” you will be breached but “when.” Every AR transaction could expose gaps in your security that open your customer and financial data to hackers. Your chances of a breach also increase if you don’t know what payment systems all of your […]
Simplifying Acceptance of Virtual Cards for Businesses Everywhere
Mastercard Works with VersaPay to Introduce Virtual Card Receivables Service to Help Suppliers Effectively and Efficiently Reconcile B2B Payments Purchase, NY; Toronto, ON – July 9, 2019 – Companies around the world are benefiting from digitizing aspects of their business operations, but for many companies, managing incoming payments from customers can be a labor-intensive challenge. […]
Why Should Sales Leaders Care About Accounts Receivables?
I was recently onsite with a prospective client to observe their order-to-cash process. The main focus was on the finance/credit side, but after having some impromptu conversations, it became apparent that their Sales reps were doing much (if not all) of the collections work. The main reason for this was threefold: Credit Holds – Customers […]
Long Collection Cycles Increase Your Costs and Reduce Your Margins. Can You Afford it?
Multiple touchpoints create extra steps in your invoice-to-cash cycle. The more steps you have, the longer it takes to get paid and the higher your operational costs to serve customers. The average payment cycle for wholesale distributors is 37 days. If you want to shorten your payment cycles and free up your cash flow, take […]