Ideal Supply Signs Up as VersaPay’s Newest Distribution Client
Nov 18, 2018
VersaPay provides cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management.
Historically issuing a high volume of paper invoices across regional clients and receiving payment via cheques, Ideal Supply was seeking a frictionless solution that would lower processing costs, reduce the receivables timeline and offer an improved customer experience. With VersaPay, Ideal Supply’s customers will have access to their invoices and supporting documents 24/7, 365 days a year, through a secure customer portal.
“VersaPay offered an innovative solution that accelerates our digitial transformation,” says Chris Moon, Director of Information Technology. “ARC will help us reduce our DSO (days sales outstanding) and the costs associated with collections, at the same time as enhancing the experience we can provide for our customers. Ultimately, a paperless solution is a win-win for us and our customers as the accounts receivable process becomes more streamlined, and we expect to gain greater insights which will help us improve our financial operations and profitability.”
Ideal Supply is among a growing list of distribution companies transforming their invoice-to-cash process. “Wholesale distribution is a sector where we are seeing strong demand for our software, fuelled fundamentally by the strong ROI generated as a result of implementing ARC,” says Craig O’Neill, CEO of VersaPay.
