TORONTO, July 5, 2017 /CNW/ - VersaPay Corporation (TSXV: VPY) ("VersaPay" or the "Company"), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, today announced that Livingston International Inc., a leading global customs broker and logistics provider ("Livingston") has signed a contract to use VersaPay ARC™ to improve its financial operations worldwide.
Livingston is a global leader in customs brokerage, trade compliance, and freight forwarding, helping customers simplify the complex administrative and transportation requirements of international shipping. Livingston prides itself in removing complexity so that its customers can focus on operating, growing and investing in their businesses.
"Our partnership with VersaPay is part of a broader, ongoing commitment to provide seamless and simplified solutions to our customers," said Dan McHugh, CEO of Livingston. "VersaPay ARC will allow us to automate our accounts receivable processes through an accessible and user-friendly interface that further enhances our customer-service promise."
Each month Livingston issues more than three hundred thousand invoices and collects payments from tens of thousands of customers. VersaPay ARC was selected to enhance the end-to-end operation and improve the company's key receivables metrics. The platform is expected to be live with the company's entire invoice volume later this year.
"We are pleased to partner with Livingston in its efforts to continuously improve customer service. Our solution is rapidly becoming the new standard for accounts receivable and collections management," stated Craig O'Neill, CEO of VersaPay, "and endorsements such as this one from an enterprise client with worldwide operations serves to enhance our reputation and reach in the global market."
About Livingston International
Livingston International focuses on customs brokerage and trade compliance, offering international trade consulting, global trade management and freight forwarding. It provides clarity in a world of trade complexity, so business can grow further, faster and smarter. Livingston employs over 3,100 staff at 100 key border points, sea ports, airports and other strategic locations across North America, Europe and Asia. Learn more about Livingston International at www.livingstonintl.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.
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: 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]