Versapay Cash Application

Versapay Cash Application helps you:
Increase efficiency by up to 75%

Over 90% Straight-through processing

Reduce AR costs up to 50% annually

Features and Benefits

Capture All Payment & Data Types

• Import all incoming payments like checks, ACH and wires, and detached remittance from multiple sources, including emails, PDFs, AP portals, data files and more.
• Optical character recognition (OCR) technology dynamically reads and extracts useful information from digital and paper payments and remittances to ensure the highest match rates.
• Operates with lockbox service providers and significantly reduces costs and exceptions by using scanned data instead of costly, error-prone keyed payment data.

Match It All Automatically

• Take advantage of our proprietary, purpose-built machine learning technology that enables payments to be auto-matched with open receivables.
• Configurable algorithm match rules with advanced settings. Work together in sequence to apply payments to open receivables to optimize the cash application process.

Improve Customer Service

• Restore credit for your customers more quickly allowing more favorable credit limits and revenue growth.
• In-platform collaboration tools enable you to ask for assistance on remaining unapplied payments and for your customers to apply payments directly in the portal, speeding up reconciliation.