VersaPay Corporation (VPY.V) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced a change to the Company's US strategy and staffing.
Based on the Company's recent success with medium to large US suppliers, management has decided to focus its efforts on direct sales in the US marketplace. As the sales organization is managed from Toronto , the US office will be closed, and Todd Whiton , the President of VersaPay's US subsidiary, VersaPay Payment Technology Solutions Inc., will leave the Company effective immediately.
"On behalf of the Company, I want thank Todd for his contributions and wish him success in his future endeavours," said Craig O'Neill , Chief Executive Officer of the Company. "In keeping with the increasing traction we are seeing in direct sales to our target vertical markets, we have decided to intensify our focus in these areas for the remainder of this year. This change will allow us to better align our resources and marketing investments to where our best opportunities are, opportunities in trucking and logistics, media and commercial real estate.
"Even though we are closing our US office, rest assured that our commitment to the US market remains unchanged," continued Mr. O'Neill. "US customers will continue to represent 90% of our marketing and sales focus, and this change will allow us to put more resources into our sales efforts."