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Versapay has launched Versapay Intelligence across its accounts receivable platform, extending artificial intelligence tools beyond cash application into collections, payments and ERP integrations.
The new intelligence layer spans invoicing, collections, cash application, payments and ERP connectivity, rather than being limited to a single product area. Versapay also introduced additions to its core accounts receivable software and deeper integrations with financial systems including NetSuite, Sage Intacct and Microsoft Dynamics.
Versapay has used artificial intelligence and machine learning in cash application for several years, particularly for remittance matching and risk segmentation. The latest move brings those tools together under one framework designed to let customers decide how much authority automated systems take on within workflows.
The framework has four stages: augment, assist, action and autonomous. Versapay said the stages are intended to help finance teams move from AI-supported recommendations to more automated execution within customer-defined boundaries.
Three features are already live: Versapay Assistant, which answers workflow questions; real-time sentiment scoring to identify customer conversations that may signal risk; and AI-generated customer summaries covering payment history, overdue balances, credits and the oldest open invoice.
Versapay is also testing an augmented cash application tool in beta. It is designed to read remittance information from PDFs, spreadsheets and scanned images in multiple formats and automatically match it to open invoices.
"Versapay is applying one intelligence layer across a platform that already unifies invoicing, collections, cash application, payments, and ERP connectivity," said Carey Kolaja, Chief Executive Officer, Versapay.
"That's our edge: we've spent more than 20 years moving invoices and money, so we see the full picture - not just a transaction, but the operational, payment, and relationship signals behind it. That's what lets us help define where invoice-to-cash is headed, instead of just keeping pace with it."
Collections changes
Alongside the AI launch, Versapay has expanded its collections tools within the main accounts receivable platform after customers asked for less manual work and more flexibility in setting collections strategies.
New functions include automatic segmentation by risk and behaviour, configurable workflows with tailored outreach schedules, and task lists ranked by account priority. The module also includes a single communications log and dashboards that track metrics such as days sales outstanding, ageing and promise-to-pay.
These additions are aimed at teams managing receivables across larger customer bases, where prioritising outreach and recording interactions can affect collection cycles and cash flow visibility.
"We wanted to use AI to augment our customers' judgment and take work out of the equation," said Christy Johnson, Chief Product Officer, Versapay. "That's why we started with an assistant that answers your questions directly and surfaces the buyer signals that could have been missed, an enhanced AI in Cash Application that shows its work. When AI tells you the insight and explains how it got there, it earns the trust to take on more."
A customer already using Versapay's accounts receivable software has also adopted the new collections product.
"We were already running our core AR with Versapay, so expanding into Versapay's new Collections module felt like a natural next step rather than starting over with a new system," said Lisa Pillans, Corporate Controller, Essential Cabinetry Group. "We're most excited about smarter segmentation and automation of routine reminder emails, and getting a daily task list that tells our collector exactly who to follow up with and why - including payment promises - so she can spend her time on the accounts that truly need attention."
ERP focus
Versapay also added new features tied to the business systems where finance teams already work. For Microsoft Dynamics F&SCM, it introduced embedded payments. For NetSuite, it expanded NetSuite Pay to include Canadian merchant support and added aggregated payment through grouped invoices in the customer portal, with synchronisation back to NetSuite.
For Sage Intacct, the latest release adds support for project-based invoicing and multi-currency invoices. Versapay said these changes reflect demand for tools embedded more directly into existing ERP and finance environments, rather than requiring separate workflows.
Versapay says it serves 10,000 customers, with more than five million companies transacting through its network. It says it facilitates more than 120 million transactions and processes more than USD $300 billion in annual payment volume.