Versapay

Pros

Automates AR from invoicing to cash application, makes payments easy for customers, boosts cash flow and saves time with solid reporting

Cons

Can be tricky to integrate with some ERPs, setup/learning takes time, and reporting/analytics aren’t as robust as some competitors.

Pros

I enjoy the communication features that Verspay offers as well as the ease of use and integration it offers with our systems that are already in place.

Cons

So far, we have not had many issues arise, we did have a payment limit issue, but costumer service took care of everything with no problem.

Alternatives Considered

Reasons for Switching to Versapay

Pros

I love that you Versapay automatically takes payments by ACH or CC and saves you from doing manual work. Especially if you have a lot of payments running on the same day, you can schedule payments to run at a certain time of day.

Cons

I don't like that any open invoices dated the current date you are running auto payments will also get paid if that customer is set up as a recurring customer. Sometimes a customer may want to purchase something randomly not included in the monthly payment and you don't want that invoice to automatically be paid. We had to set our monthly billing run very early in the morning to avoid any new invoices because created on the same date for a customer.

Pros

I like the customer service versapay provides as well as many of the automation features make it very easy to use.

Cons

I cannot say anything there is specifically I dislike about the product. I think the products functionality make it easy to use.

Pros

VersaPay is an easy to use tool for our A/R Staff as well as our tenants. The communication features save us time and creates efficiencies in our daily process. Billing questions are answered quickly (almost immediately) and disputes are resolved before the invoice becomes overdue. Because we are sending a PDF attachment of our Invoice Notifications we have eliminated ALL paper mailings since the day of our Go Live! The visibility of VersaPay helps us to understand where each tenant is at, and assist them to understand the product and feel comfortable with using it. The Payment File we receive is uploaded directly into our ERP System relieving open charges accurately and without staff processing.

Cons

The biggest product limitation to date has been the Payment Limits. We have many big tenants with high rents that may not be able to pay through VersaPay with the current structure. We are currently looking into other options and direct to bank processing of payments.