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AR Automation For NetSuite

Automate accounts receivable in NetSuite, and unleash working capital. Inefficient invoice-to-cash processes slow down cash flow and hold you back. Grow with Versapay, save time, and put operating cash back into your business.

  • Accounts Receiveable Automation for NetSuite

    Simplify the invoice-to-cash process by automating accounts receivable, streamlining payment acceptance, and collaborating with teammates and customers in one AR solution.

  • Payment acceptance Built for NetSuite

    Accept payments across your ecommerce, point of sale, and accounts receivable channels directly in NetSuite with Versapay's Solupay Built for NetSuite SuitePayments solution. Say goodbye to fragmented systems and stale data with all your payments operations now in one place.

  • Apply Payments from any Channel Seamlessly

    Accelerate reconciliation of any payment made outside Versapay’s payment portal, whether it is received as an incoming check, ACH, or wire. Our cash application automation solution works alongside your existing banking services—including lockboxes—to improve efficiency and reduce per-payment processing costs and errors.

Client Case Study

How Boston Properties Achieved 99% Collection Rates Across 2000+ Tenants

Learn how Boston Properties transformed and automated their invoice-to-cash process, through collections, payments, and cash application with a focus on connecting their AR department with their customers over the cloud.

  • The problem

    Boston Properties’ accounts receivable processes were outdated, and they were spending too much time dealing with tenant calls and questions about invoices and payment statements.

    The rapidly growing REIT signed approximately 592,000 square feet of leases in the first quarter of 2021—some of their largest tenants by square feet include the U.S. Government, Google, and Bank of America—however, their collections process was unilateral and time-consuming, the cost of mailing invoices was too high, and payments were too frequently delayed.

    Prior to Versapay:

    • $0.55: Cost per paper mailing to 2200 tenants
    • 2: Number of collectors manually chasing payments
    • 4-5: Number of months for operating escalations to be reconciled

  • The solution

    In July 2019, Boston Properties implemented Versapay’s cloud-based accounts receivable solution to transform and automate the full invoice-to-cash process, through collections, payments, and cash application with a focus on connecting their AR department with their customers over the cloud.

    Since Implementing Versapay:

    • $0.00: Cost per paper mailing to 2200 tenants
    • 98%: Adoption by rental tenants
    • 99%: Percentage of rent collected in 2020
    • 1-3: Number of months for operating escalations to be reconciled

    Cash rent payments are generally due on the first day of that month, although tenants have varying grace periods. Dealing with cash was always a big concern for Boston Properties, with the use of lockboxes and ACH also adding delays and inconveniences to the AR process, and ultimately slowing down the flow of cash for the business.

    A key strategic initiative was to get high adoption rates for digital payments and for Versapay’s customer portal to facilitate real time collaboration between the AR department and their tenants.

  • Learn More

    To learn more about Versapay, NetSuite, and the solution, click the Contact Us button below.
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