TORONTO, April 30, 2015 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, is pleased to announce that Chicago-based, LoadDelivered Logistics, LLP ("LoadDelivered"), has adopted the Company's ARC software-as-a-service solution. LoadDelivered is a customer-centric supply chain management partner setting the pace in a highly competitive and dynamic industry. Under the agreement with LoadDelivered, the Company will receive a monthly software subscription fee in addition to transaction fees.
"Since our inception in 2008, we have always used technology to give us a competitive advantage, and we see VersaPay's ARC solution as fitting that description," commented Robert Nathan, CEO of LoadDelivered. "As a rapidly growing business approaching $100 million in annual sales, we generate thousands of invoices each month and manually reconcile payments. VersaPay's solution will allow us to automate manual AR tasks, including collecting and matching payments to invoices, thereby improving the efficiency of our AR function."
"We are very pleased to have earned LoadDelivered's business. We believe the trucking and logistics industries are ideally suited for ARC and we expect many other firms in these two industries to follow LoadDelivered's lead and sign on to use the service," stated VersaPay's Chief Executive Officer Craig O'Neill. "I'm especially pleased to be working with a technology savvy player like LoadDelivered as we build a connector to their brokerage system from McLeod Software and leverage that to serve many other McLeod users."
About LoadDelivered Logistics
LoadDelivered is a customer-centric supply chain management partner setting the pace in a highly competitive and dynamic industry. Founded in 2008, the company provides reliable, cost-effective transportation solutions for a portfolio of carefully selected customers ranging from Fortune 500 companies to small distribution networks, with extensive experience in the food and beverage industry. Their team works hard to provide paramount customer service and enjoys the positive atmosphere they have worked hard to create.
VersaPay is a leading cloud-based invoice presentment and payment provider for businesses of all sizes. VersaPay's ARC software-as-a-service offering allows businesses to easily deliver customized electronic invoices to their customers, to accept credit card and EFT payments and automatically reconcile payments to their ERP and accounting software. VersaPay is headquartered in Toronto, Canada and has operations in Montreal and New York.
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.
SOURCE VersaPay Corporation
For further information: David CW Chan, Chief Financial Officer, VersaPay Corporation, 647-258-9475, [email protected]; 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]