NEW YORK and TORONTO, Aug. 21, 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 that is has signed ShopOne as its newest client, further solidifying its leadership position in Commercial Real Estate (CRE).
"VersaPay's solution is the perfect fit to help us scale our business and provide a great experience for our rapidly expanding tenant community," commented Joe LoParrino, Chief Accounting Officer for ShopOne. "By providing better tools for our tenants we make it easy for them to do business with us and we receive payments faster and can manage the business more proactively."
This newest client was introduced by NTrust, a global CRE technology and services company, and an active member of VersaPay's referral partner program. Working together, NTrust introduces VersaPay to business opportunities at CRE organizations that could benefit from using ARC.
"We continue to see more and more commercial real estate organizations taking advantage of ARC as it has become the new standard for AR automation in the industry," said Craig O'Neill, CEO of VersaPay. "This is the fifth new CRE client to choose ARC this year, together serving over 30,000 commercial tenants across a mix of retail and office properties across the US. As we cement our leadership position in CRE we are also building strong working relationships and interfaces with the leading ERP's serving the sector including Oracle JD Edwards, MRI and others."
VersaPay will be presenting at the JD Edwards InFocus 2018 Conference. Details below:
Tenants Pay Rent On Time
Tuesday, August 21
8:00 AM - 9:00 AM
ShopOne Centers REIT is a leading owner, operator and manager of high-quality shopping centers. The Company's more than 50 retail centers located in established trade areas and are supported by a diverse mix of highly productive non-discretionary, value-oriented and grocery retailers. ShopOne is committed to maximizing the value of its portfolio by capitalizing on embedded growth opportunities through driving rents, increasing occupancy and pursuing value-enhancing redevelopment opportunities. To learn more about ShopOne, please visit www.ShopOne.com.
NTrust is a global CRE technology and services company with ~1,000 CRE professionals, accountants, lease administrators, abstraction specialists, language specialists, software developers, infrastructure and network administrators, focused solely on providing services and software to Corporate and Commercial Real Estate Clients. We have a global focus and have worked with clients throughout North America, China, Russia, and Japan to Dubai and UAE to the UK and Eurozone to Mexico, Argentina, and Brazil. NTrust provides lease administration, finance & accounting, due diligence and technology services to many of the leading global investment management firms, REITs, CRE service provider and multi-national corporations. More information is available at https://ntrustinfotech.com.
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.
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.
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SOURCE VersaPay Corporation
For further information: John McLeod, Vice President, Marketing, VersaPay Corporation, 647-258-9406, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]