Milestone caps a 2022 that saw unprecedented growth for the
AR Automation and B2B payments leader
TORONTO, Jan. 31,
2023 /CNW/ - Versapay, the leader in Collaborative
Accounts Receivable, announced today that over one million
companies are now transacting on its B2B payment network. The
Versapay Payment Network is the most advanced of its kind and is
uniquely built to solve the challenges of the invoice to cash
process for B2B companies.
"The invoice to cash cycle is complicated and involves too much
paper and manual intervention," said Craig
O'Neill, CEO of Versapay. "Changing this requires digital
collaboration between businesses, and that requires a B2B payment
network built to integrate into multiple systems to move dollars
and data with speed and accuracy. That's the Versapay Network. One
million companies on our network is a huge milestone in our mission
to make billing and payments easy for millions of companies."
This caps off a strong year of growth for Versapay, led by a
record 82% year-over-year growth in software bookings. Other
notable achievements in 2022 included the acquisition of
DadeSystems to bolster AI and machine learning cash application
capabilities, strategic partnerships with American Express and
Wells Fargo, placement in the Forrester AR Automation Landscape
report, inclusion in Gartner's Magic Quadrant, and the signing of
notable clients such as Motion and Control Enterprises, SRS
Distribution Inc., Heritage Family of Companies and Mars
Electric.
Versapay's growth also attracted top executive talent. The
company announced the appointment of Chief Product Officer
Craig Walker, Chief People Officer
Orit Kendal, Chief Financial Officer
Russell Lester, Chief Commercial
Officer Nancy Sansom and Executive
Vice President of Payments Steven
Arthur.
"It was a tremendous year of growth for Versapay," said
Nancy Sansom, Chief Commercial
Officer of Versapay. "It's a testament that our unique approach to
solving Account Receivable's most vexing problems through a
combination of advanced automation and people-to-people
collaboration is resonating in the market and will continue to do
so in 2023."
About Versapay
Versapay is the leader in Collaborative Accounts Receivable. The
Versapay Collaborative AR Network is the first solution that
empowers the genius of teams by bridging the gap between suppliers
and buyers through a shared, digital experience. Owned by Great
Hill Partners, Versapay is based in Toronto with offices
in Atlanta, London, Amsterdam and Miami. With
8,000+ clients and 1 million+ buyers engaged, Versapay handles 40+
million new invoices and drives $60+ billion in global payment
volume annually.
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SOURCE VersaPay Corporation
