VersaPay Corporation (VPY.V) ("VersaPay" or the "Company"), a leading provider of cloud-based invoicing, accounts receivable management and payment solutions, today announced that Intuit Inc. has implemented VersaPay ARCTM for select small business and accountant customers.
The service allows the company's customers that primarily pay Intuit on a net term basis to use a self serve portal and pay online 24/7. This improves Intuit's collection tools and gives them the flexibility to better manage their invoice to cash cycle.
"One of our strategic initiatives was to create a better collaboration and payment experience for thousands of our small business and accountant customers," stated Scott Beth, vice president of finance operations at Intuit. "We wanted to provide an easy-to-use online environment that provides our customers with more payment options. We searched the market, including VersaPay, and evaluated many companies for the best solution. Although we had the ability to build something in-house, we selected VersaPay as they had already invested in a robust solution that met our requirements and they were extremely accommodating in providing additional functionality that we subsequently requested."
"We are extremely pleased to be working with Intuit, a leading software company that provides innovative business and financial management solutions all over the world," noted Craig O'Neill, CEO of VersaPay. "Intuit clearly has extensive technical and development expertise, so the fact that they selected VersaPay after an intensive market review provides strong validation of ARC as the solution of choice for larger organizations that require a highly scalable, secure, enterprise-class platform to automate their AR and accept electronic payments."
With this announcement, Intuit is now live and using ARC to manage its AR process and accept electronic payments from customers. As part of the solution, Intuit needed to provide a customer portal that was easy for thousands of small business and accountant customers that primarily pay on a net term basis. With VersaPay ARC, Intuit now provides these customers with 24/7 access to their invoices and they can make payments online using a variety of secure options.