NEWSCYCLE implemented VersaPay ARC®, a cloud-based solution that automates the entire invoice-to-cash process: presentment, collaboration, collections, payments and cash application. With ARC, NEWSCYCLE’s accounts receivable team has complete visibility into their invoice presentment, including if and when customers viewed an invoice. Through the online payment portal, NEWSCYCLE’s customers are in control of when and how they pay. Customers can short pay with a note explaining why, identify what invoice number they are paying towards, dispute charges and communicate with the AR team, all within the portal.
Customer satisfaction has greatly increased as customers note that the system is simple and easy to use. With direct access to their accounts, customers are paying faster, with little to no follow-up. What is most significant is that NEWSCYCLE is now receiving payments from even their most notoriously late paying customers.
The ability to offer a better experience for their customers and employees has been monumental to save time, money and make customers happy.