TORONTO, March 12, 2019 /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 it has been named a Leader in the recently published IDC MarketScape: Worldwide SaaS and Cloud-Enabled Accounts Receivable Applications 2019 Vendor Assessment, January 2019, IDC#US44754719.
The report highlights the scope of ARC's capabilities and states: "VersaPay offers an AR automation solution that automates much of the work involved in AR and collections, allowing AR staff to focus on higher-value tasks." A key part of the value realized by clients stems from the fact that: "VersaPay ARC also provides real-time insight into accounts receivable data for both suppliers and their customers for day-to-day management and decision making."
"VersaPay provides large enterprises with a solution that delivers a positive impact on key aspects of their invoice-to-cash process," stated Kevin Permenter, Senior Research Analyst, IDC. "As a result of conversations with their large clients, it is evident that VersaPay software is a must-consider solution. IDC anticipates Verspay will continue to grow their market presence well into the future."
"We are very pleased that the IDC MarketScape recognizes VersaPay as a leader as a result of IDC's thorough research into the market," said Craig O'Neill, Chief Executive Officer of VersaPay. "Leading the way in delivering innovative software that drives dramatic improvements in AR is core to our strategy, and this report confirms that we're successfully doing just that."
About IDC MarketScape
IDC MarketScape vendor assessment model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor's position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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, Chief Marketing Officer, VersaPay Corporation, 647-258-9406, [email protected]; Babak Pedram, Investor Relations, Virtus Advisory Group Inc., 416-644-5081, [email protected]