Source: Heartland Payment Systems
Heartland Payment Systems (NYSE: HPY), one of the nation's largest payment processors, and VersaPay Corporation (VPY.V), a leading provider of cloud-based invoicing and accounts receivable management, today announced they are collaborating to help merchants improve their accounts receivable through a cloud-based software solution utilizing the Heartland Portico Gateway and VersaPay ARC platform.
Heartland and VersaPay helped McDonough's Sewer Service, owner of unclogdrains.com, reduce the time it takes to invoice and collect payment for their services for residential and commercial clients in the twin cities of Minneapolis and St. Paul, Minn. and surrounding areas.
McDonough's Sewer Service has provided a variety of services for more than 20 years including drain cleaning, water jetting, industrial vacuuming, sewer video inspection, de-watering, hydro-excavating/potholing, ceiling and structure cleaning, high-pressure washing, production line cleaning and manufacturing facility cleaning.
Fewer lost or missing invoices, quicker approval cycles, a reduction in labor/processing costs and increased on-time payments are reasons cited by merchants for moving their accounts payable system to an electronic invoicing and payment solution, according to the "2014 eInvoicing Benchmark Report" by PayStream Advisors.
With the Heartland Portico Gateway, merchants can use their Internet-enabled device to quickly and securely process credit, debit and prepaid commercial card transactions by manually keying in cardholder information or adding an end-to-end encryption personal identification number (PIN) pad that will encrypt all card information as it is swiped and key-entered.
Heartland Portico Gateway provides an inexpensive way for merchants to accept payments and replaces stand-alone payment terminals that require dedicated phone lines. The Heartland Portico Gateway can also be used to process card-present and card-not-present transactions.
VersaPay ARC is a highly secure, cloud-based accounts receivable solution that helps businesses eliminate costs, make customers happy and get paid faster. With VersaPay ARC businesses can:
Seamlessly connect to their enterprise resource planning (ERP) systems.
Publish invoices and supporting documents in a secure portal.
Collaborate with customers on discrepancies and questions.
Send customized reminders and notifications.
Match payments to invoices.
Accept payments, such as automated clearing house, electronic funds transfer and debit/credit card.
Track key business metrics.
Automatically reconcile back to their accounting and ERP systems.
The Heartland and VersaPay solution is available today for purchase.
Steve McDonough , president, McDonough's Sewer Service
"We chose to work with Heartland and VersaPay because they offered the best option to help McDonough's gain back more time to service our existing business and less time to handle our accounts receivable through a secure, reliable electronic invoicing and payment solution. The savings of time and ability to collect funds faster are necessary in order to maintain our high standard of service."
Joe Wysocki , senior director of eCommerce, Heartland
"Our collaboration with VersaPay allows companies like McDonough's Sewer Service to automate manual billing systems, improve cash flows, condense days outstanding, lower cost and improve the overall experience for the bill payment recipient. Savings from a reduction in total cost of payments acceptance can then be re-invested into the operation of the business."
John McLeod , vice president of marketing, VersaPay
"We appreciate the opportunity to partner with Heartland and provide a secure, cloud-based accounts receivable solution to McDonough's Sewer Service, so they in turn can provide a superior experience for their customers while reducing costs. We look forward to working with many more of Heartland's valued customers."