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Versapay Reviews & Product Details

Versapay Overview

What is Versapay?

For growing businesses that need to accomplish more with less, Versapay’s Accounts Receivable Efficiency Suite simplifies the invoice-to-cash process by automating invoicing, facilitating B2B payments, and streamlining cash application with AI. Owned by Great Hill Partners, Versapay’s employee base spans the U.S. and Canada with offices in Atlanta and Miami. With 10,000 customers and 5M+ companies transacting, Versapay facilitates 110M+ transactions and processes $170B+ annually. Versapay’s Features: Accounts Receivable Automation Cloud-based accounts receivable automation software drives efficiency in the invoice-to-cash process by automating everything from invoicing to collections, streamlines payment acceptance, and empowers AR teams to collaborate with their customers to resolve issues that slow down payments. Versapay’s AR automation software includes a secure self-service online portal that gives customers access to shared invoice and account information and provides AR teams with real-time analytics for all billing and accounts receivable collections information. Cash Application Automation Versapay’s automated cash application uses AI and machine learning to match traditional payments with open receivables, eliminate inefficient manual processes, and accelerate cash posting. Versapay’s cash application automation software works alongside your existing banking services—including lockboxes—to improve efficiency and reduce per-payment processing costs and errors. Automated Payment Processing Payment processing solutions reduce manual processes and accelerate cash flow. Versapay’s payment processing software streamlines omni-channel payment acceptance, offers multiple payment options, and provides automated bank reconciliation, reporting, shopping cart integration, secure tokenized payments, and more. ERP Payment Integration ERP payment integration software that enables AR teams to accept payments directly into their enterprise resource planning system from all sales channels. Versapay’s ERP payments solution offers native integration with numerous ERP systems including Microsoft Dynamics 365 Business Central, Sage Intacct, and Oracle NetSuite. Electronic Invoicing Click-to-pay electronic invoicing streamlines invoice delivery and makes it easy for customers to pay a single invoice or multiple invoices. Versapay’s online invoicing features include real-time payment visibility, invoice customization, and automated cash application. Virtual Card Acceptance Automation Virtual credit card acceptance improves the customer payment experience and accelerates cash flow. Versapay’s Virtual Card Connect eliminates the manual work of processing virtual card payments received by email and automates secure, straight-through payment processing, and reconciliation

Versapay Details
Product Website
Languages Supported
English, French, Spanish
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Product Description

Versapay automates routine tasks with over 150 notifications that can be tailored to business, allowing collectors to focus on the customers that can't (or won't) pay. It has access to accurate data, proactive reminders, and intuitive online tools remove friction from the AR process, allowing customers to collaborate and pay when ready. Leveraging data from current ERP and billing system, Collaborative AR enables a holistic, central view of the status of all receivables


Seller Details
Seller
Versapay
Company Website
Year Founded
2006
HQ Location
Miami, Florida, United States
Twitter
@VersaPay
917 Twitter followers
LinkedIn® Page
www.linkedin.com
359 employees on LinkedIn®
Ownership
TSXV: VPY
Description

For growing businesses that need to accomplish more with less, Versapay’s Accounts Receivable Efficiency Suite simplifies the invoice-to-cash process by automating invoicing, facilitating B
B payments, and streamlining cash application with AI. Owned by Great Hill Partners, Versapay’s employee base spans the U.S. and Canada with offices in Atlanta and Miami. With 10,000 customers and 5M+ companies transacting, Versapay facilitates 110M+ transactions and $170B+ in payments volume annually.


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Recent Versapay Reviews

LP
Loan P.Mid-Market (51-1000 emp.)
5.0 out of 5
"easy to use, everything in one application, from set up an account to processing payments"
customers can pay their invoices in versapay, easy to use
Rachel A.
RA
Rachel A.Small-Business (50 or fewer emp.)
3.5 out of 5
"Quick response from Versapay but link is faulty"
We use Versapay to automate our invoicing process with a paylink button that they added to our invoices to get paid faster. This is very helpful to...
Shirley G.
SG
Shirley G.Mid-Market (51-1000 emp.)
5.0 out of 5
"It has saved me so much time and my customers have never been happier"
The access of invoices in the customer hands .. taking labor off my ar team and allowing the customer to pay. I love they get reminders and can see...
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Versapay Media

Versapay Demo - Collaborative AR Customer Portal Invoice Listings
Collaborative AR Customer Portal Invoice Listings
Versapay Demo - Collaborative AR Customer Portal Payment Page
Collaborative AR Customer Portal Payment Page
Versapay Demo - Collaborative AR Customer Portal Invoice View
Collaborative AR Customer Portal Invoice View
Versapay Demo - Collaborative AR Supplier Portal Invoice View
Collaborative AR Supplier Portal Invoice View
Versapay Demo - Collaborative AR Supplier Portal Dashboard
Collaborative AR Supplier Portal Dashboard
Play Versapay Video
Play Versapay Video
Play Versapay Video
Play Versapay Video
Play Versapay Video

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71 Versapay Reviews

4.2 out of 5
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71 Versapay Reviews
4.2 out of 5
71 Versapay Reviews
4.2 out of 5

Versapay Pros and Cons

How are these determined?Information
Pros and Cons are compiled from review feedback and grouped into themes to provide an easy-to-understand summary of user reviews.
Pros
Cons

Overall Review Sentiment for VersapayQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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Nicholas S.
NS
Accounts Receivable Lead
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about Versapay?

VersaPay integreates seamlessly into Netsuite in a way that works perfect for our existing workflow. Having the ability to take customer payments right in Netsuite as well as give clients the option to pay through the link on an invoice reduces the amount of time it has taken to get customer payments after an invoice is generated. We use VersaPay every day, and it's become essential to accepting credit cards in various forms from our clients. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Sometimes we have clients pay for multiple invoices at once with one credit card, but the invoices are in different accounts on Netsuite. I would prefer if there were a way to use that credit card for these two invoices on Netsuite, instead of needing to use the Versapay Gateway. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

We had a third party credit card processor before, and it required us to manually copy authorization codes from transactions over into Netsuite which occasionally created issues when someone made an erorr. VersaPay has helped reduce the amount of human error involved in processing transactions. Review collected by and hosted on G2.com.

Jen T.
JT
SVP Business Operations
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Versapay?

Integrates well with Netsuite. We've been able to use it daily with many customers to consolidate our AR activity. Unlike other payment processors, it's easy to get someone to answer a support ticket and we feel like a valued customer, not just another number. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Initial implementation was more difficult than we expected and we ran into a number of hurdles getting users with the correct access, finding the customer support less than totally accomodating. The initial outreach to customers to move them to this platform was not as streamlined as it could be and represents an area for growth for the company. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

It is our embedded payment processor to collect payments on all of our B2B invoicing activity. There are a number of AR features that we have found to be very helpful and a nice upgrade from our previous solution. Review collected by and hosted on G2.com.

Rachel A.
RA
Accountant
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Versapay?

We use Versapay to automate our invoicing process with a paylink button that they added to our invoices to get paid faster. This is very helpful to get instant payments from our customers. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

We had occasional broken links on the payment button so we had to contact Versapay to fix the link. They were quick to responsd which we appreciated. But the last time they fixed the link, it changed our template and we can no longer edit it in "what you see is what you get" mode or the link will break anytime we make a change in this mode...so when we customize our invoice template, it has to be in html mode which is challenging. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

We use Versapay to get instant payment on invoices which is much needed. Review collected by and hosted on G2.com.

Anthony M.
AM
Director and CEO
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about Versapay?

We always faced challenges with customers saying they never received our invoice by email. With VersaPays transparent system we can see when our customers have opened and viewed their invoice so “the lost in cyberspace” to delay payment can never be used again!! Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Unfortunalty I cannot see any downside to using Versapay. I would be making something up if I had to complete this section. Versapay says what it does and does what it says.... it's that simple! Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

Using the Versapays platform has allowed us to offer transportation to customers that do not have credit terms. To have our customers pre-pay for their shipments is now quick and easy! This even allows us to pick-up shipments same day because of the transparency and notification emails sent out to all by their automated system. Review collected by and hosted on G2.com.

Shannon N.
SN
Financial Operations Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Versapay?

Our team loves how Versapay has streamlined our AR management, all through one easy-to-use and easy-to-learn platform. We are able to easily manage payment application, send customer statements, and collect credit card and ACH payment. Our customers love the ability to see their acocunts in real time, and this increased visibility has significantly improved our DSO and days to pay. We've also found the additional reporting and visibility extremely helpful during our annual audit, as records and reports are a breeze to retieve. Versapay has certainly improved our team efficiency. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Other than small UI changes (ability to filter to exclude rather than include, and some visual changes), we are satisfied with the Versapay product. Down the line additional reporting features would be great, but we are able to accomplish what we need with the stock options. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

We love that customers can direct how their payments are applied, and can make partial payments. We love that the CashApp has AI features which automatically match payments to customers and invoices. This saves us so much manual effort with applying payments, and reduces errors. Further, customers can see their payments applied in real time. Review collected by and hosted on G2.com.

CD
Accounts Receivable Manager
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Versapay?

Customer transperancy. Automated Dunning letters. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Numerous portals to do reconcilation vs on portal to reconile transactions. Lack of timely customer service support. No client relations manager assigned to our account. Cash app and C-AR Versapay teams do not seem to know what the other dept is doing. Implementation was challenging for C-AR with notices being released to customers in error by Versapy. System does not always communicate w/NetSuite in all scenarios. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

Reconciilations, payments not automatically processing even through the authorizations have been approved so far still no resolution. Has been a week since we opened the ticket. Review collected by and hosted on G2.com.

Elizabeth W.
EW
Director of Finance and Accounting
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Versapay?

Versapay was easy to set up and connect to NetSuite. We were also able to quickly set up a payment link on invoices and statements so customers can pay directly through the link. Our Implemenation person was great and easy to work with. This has been an easy system that we can set up and let run without too much additional effort or support needed. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Their support after launch can be a little slow. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

I needed a customer payment option to use along with NetSuite so customers can pay quickly through their invoice or statement. Review collected by and hosted on G2.com.

Logan W.
LW
Chief Operating Officer
Small-Business(50 or fewer emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Versapay?

The portal is great and allows payments to be made online. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Versapay’s implementation has been a nightmare. Their team doesn’t seem to know how to deploy their product properly. Expect a year of bugs with no fixes. When you report issues, it takes 2-3 months to get any kind of resolution. Customer service is basically non-existent; they just pass tickets around with no one taking responsibility. We’ve spent manny hours trying to make Versapay work, and honestly, it would have been better to pay higher fees elsewhere than deal with the headaches and staff time needed to keep it running. You could probably process payments manually faster than trying to get Versapay to work. The lack of ownership and accountability from their team is frustrating. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

The goal behind Versapay was to implement credit card processing via Netsuite. They did not solve this problem. Review collected by and hosted on G2.com.

Response from Marianna Cherniuk of Versapay

Thank you for your candid feedback. We genuinely appreciate you highlighting both the strengths of our online payment portal and the challenges you've encountered during implementation. At Versapay, we believe in transparency and continuous improvement, which is why we value all customer feedback - positive and critical alike.

We want to assure you that we take these concerns seriously. In fact, our executive team has personally engaged Logan on this situation to ensure it receives the highest level of attention. We're pleased to share that a targeted software release addressing these specific challenges has been released.

This responsiveness reflects our unwavering commitment to our customers' success. While many of our clients have successfully integrated Versapay with NetSuite and experienced significant improvements in their payment processes, we recognize that every implementation is unique.

We're dedicated to achieving this same level of success for all our customers.

Patricia L.
PL
Accounting Specialist
Mid-Market(51-1000 emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
(Original )Information
What do you like best about Versapay?

They are very responsive and help out and continue to work until they resolve any issues or concerns Review collected by and hosted on G2.com.

What do you dislike about Versapay?

I have not had a negative experience to date with the support. The system itself has some issues Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

It is allowing my company to keep a statement of record for our receivables Review collected by and hosted on G2.com.

DB
President/Owner
Small-Business(50 or fewer emp.)
Validated Reviewer
Verified Current User
Review source: G2 invite on behalf of seller
Incentivized Review
What do you like best about Versapay?

Convenient, time saving and lower cost Merchant Services Provider that integrates seamlessy with our Netsuite ERP. Review collected by and hosted on G2.com.

What do you dislike about Versapay?

Occassional technical difficulties causing a delay in payments. Review collected by and hosted on G2.com.

What problems is Versapay solving and how is that benefiting you?

Eliminates the need for a separate payment process. Less accounting time and easier collection of payments for the clients. Review collected by and hosted on G2.com.