About Versapay
Versapay transforms the AR department by connecting AR staff to their customers over the cloud.
Like traditional AR Automation players, Versapay's collaborative AR platform automates core AR tasks - invoicing, reminders, payment processing, omni-channel matching, and reconciliation - syncing all data back to the EERP. More importantly, Versapay connects AR staff and other departments with their customers to share data in real-time, collaborate about questions and issues, and provide more responsive customer service.
Also unique to Versapay, our platform includes integrated payment capabilities that are fully managed by Versapay and optimized for B2B transactions.
Taken together - our focus on customer experience and B2B payments - the results we achieve for clients are superior to the traditional approach: significant cost savings, massive gains in efficiency, accelerated cash flow, and amazing customer experience. The level of customer adoption we achieve and the feedback our clients receive from their customers about the use of the platform are strong indications that focusing on customer experience first is the new and better way to approach AR automation.
Key benefits of Versapay
- 50% reduction in manual work
- 30% decrease in past-due invoices
- 80%+ eAdoption rate
- 95% customer satisfaction rate
- 25% increase in payment speed
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Reviews
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- Industry: Accounting Software
- Company size: 51–200 Employees
- Used Daily for 6-12 months
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Review Source
Overall rating
- Ease of Use
- Customer Support Software
- Likelihood to recommend 10.0 /10
Excellent Product, Exceptional Customer Support
Reviewed on 2019-09-04
Pros
The ease of use and it's customer-friendly platform. The automatic notifications feature eliminates the time it requires to follow up with customers who have outstanding invoices. Tagging customers in to different categories helps develop lists and keeps you from scrolling through page after page. Our company has saved an extensive amount of time and money in man hours by switching to Versapay. Any questions that arise are quickly answered by customer support, usually within the hour. Having a support team as exceptional as Versapay's standing by is what makes this software a class above the rest.
Cons
This software keeps improving and they listen and deliver on what clients are requesting. Any request I have made has been implemented with new updates, or customer support solves the issue for us in a timely manner. Therefore, I have no complaints about this software.
- Industry: Real Estate
- Company size: 501–1,000 Employees
- Used Daily for 6-12 months
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 9.0 /10
Daily Impact of VersaPay ARC
Reviewed on 2019-12-30
The overall experience of the Accounts Receivable team has been positive. VersaPay has had an...
The overall experience of the Accounts Receivable team has been positive. VersaPay has had an immediate impact on the daily process in our department. Being able to process and communicate all in one platform has greatly reduced the amount of time the A/R Staff spends on each account. They are able to communicate to all of their tenants at once with setting up Notifications such as Monthly Statements. We are looking forward to the next year and learning to use the VersaPay tools to create further efficiencies.
Pros
VersaPay is an easy to use tool for our A/R Staff as well as our tenants. The communication features save us time and creates efficiencies in our daily process. Billing questions are answered quickly (almost immediately) and disputes are resolved before the invoice becomes overdue. Because we are sending a PDF attachment of our Invoice Notifications we have eliminated ALL paper mailings since the day of our Go Live! The visibility of VersaPay helps us to understand where each tenant is at, and assist them to understand the product and feel comfortable with using it. The Payment File we receive is uploaded directly into our ERP System relieving open charges accurately and without staff processing.
Cons
The biggest product limitation to date has been the Payment Limits. We have many big tenants with high rents that may not be able to pay through VersaPay with the current structure. We are currently looking into other options and direct to bank processing of payments.
- Industry: Computer Software
- Company size: 51–200 Employees
- Used Daily for 2+ years
-
Review Source
Overall rating
- Ease of Use
- Customer Support Software
- Likelihood to recommend 7.0 /10
Versapay does the work for you! No More Manual Payments!
Reviewed on 2023-06-15
Overall, Versapay has been a time saver and has been very helpful with our business.
Overall, Versapay has been a time saver and has been very helpful with our business.
Pros
I love that you Versapay automatically takes payments by ACH or CC and saves you from doing manual work. Especially if you have a lot of payments running on the same day, you can schedule payments to run at a certain time of day.
Cons
I don't like that any open invoices dated the current date you are running auto payments will also get paid if that customer is set up as a recurring customer. Sometimes a customer may want to purchase something randomly not included in the monthly payment and you don't want that invoice to automatically be paid. We had to set our monthly billing run very early in the morning to avoid any new invoices because created on the same date for a customer.
- Industry: Food & Beverages
- Company size: 1,001–5,000 Employees
- Used Daily for 1+ year
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 7.0 /10
Stone Brewing review
Reviewed on 2019-12-13
The benefits:
Providing viability for our clients into their Stone Brewing account(s), leading to...
The benefits:
Providing viability for our clients into their Stone Brewing account(s), leading to more accurate payments.
Providing ACH/check by phone as a one-time and auto payment option.
Sending automatic past due notifications to our clients.
Pros
The flexibility of the alerts, the flexibility of autopayment scheduling, the ease of navigation, the AR metrics, and the invitations taking our clients directly to the account(s) intended. Extracting reports into Excel is also very easy.
Cons
We have daily issues because the account linking functionality cannot be blocked. Our clients continue to mistakenly link accounts because Versapay ARC cannot disable the functionality, and then they complain when users receive e-mails for a linked account they aren't involved with.
Sluggish search performance causes delays when on live phone calls assisting our clients.
Autopay ignoring open credits causes frequent issues but we have a ticket open to remedy this.
Reasons for Switching to Versapay
the customization options, including scheduled payments; the CRM functionality; and the mobile responsive configuration.- Industry: Real Estate
- Company size: 51–200 Employees
- Used Daily for 6-12 months
-
Review Source
Overall rating
- Value for Money
- Ease of Use
- Customer Support Software
- Likelihood to recommend 10.0 /10
ARC: A/R Savior
Reviewed on 2019-10-03
As with any new program being implemented, we've experienced some technical issues - the majority...
As with any new program being implemented, we've experienced some technical issues - the majority centering around tying our accounting system into ARC, but VersaPay customer service and our implementation team have both stepped up and proven themselves to be tremendous assets for us. We are still within our first year of implementation but the improvement in our processes and efficiency with cash is noticeable not only internally but externally with our customers as well.
Pros
ARC is very user friendly and I find it extremely intuitive to use. ARC syncs with our accounting software which allows for efficiency in cash posting, A/R review, and customer service requests. Being able to see an entire shopping center's or our whole portfolio's A/R balance in one easy-to-read dashboard has been a great perk as well. Direct communication to our tenants through the comment section has been significant for our tenants and we've received numerous inquiries this way and feedback from them that this capability is greatly appreciated.
Cons
The load time for the web page can be a little frustrating at times, but we're also aware that we're attempting to load thousands of data points which can contribute to these load times.
Versapay FAQs
Below are some frequently asked questions for Versapay.Q. What type of pricing plans does Versapay offer?
Versapay offers the following pricing plans:
- Starting from:
- Pricing model: Subscription
- Free Trial: Not Available
Contact VersaPay directly for detailed pricing information.
Q. Who are the typical users of Versapay?
Versapay has the following typical customers:
51–200, 201–500, 501–1,000, 1,001–5,000
Q. What languages does Versapay support?
Versapay supports the following languages:
English, French
Q. Does Versapay support mobile devices?
Versapay supports the following devices:
Q. What other apps does Versapay integrate with?
Versapay integrates with the following applications:
JD Edwards EnterpriseOne, MRI Software, Microsoft Dynamics GP, NetSuite, QuickBooks, QuickBooks Online Advanced, Sage Intacct, Sage X3
Q. What level of support does Versapay offer?
Versapay offers the following support options:
Email/Help Desk, FAQs/Forum, Phone Support
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