[February 01, 2023]

VoPay 360 Brings Real-Time Reconciliation and Visibility to Financial Data Across Major Accounting Platforms

Leading provider of embedded financial technology solutions, VoPay, today announced the launch of VoPay 360. As the latest addition to VoPay's growing suite of solutions, VoPay 360 bridges the gap between accounting software and the payment platform in one centralized platform. Built on VoPay's industry-leading API, VoPay 360 will become the "operating system" for all transaction data going in and out of a business, revolutionizing how companies handle their financial transactions.

Business customers are increasingly seeking integrated solutions to solve complex money movement problems, as manual and paper-intensive methods cannot keep up with modern enterprises' needs. As businesses often use multiple systems to manage their Accounts Payments and Accounts Receivable processes, they must often allocate additional resources to their operations, relying heavily on manual labour, resulting in an increased risk of error. In fact, the average time to process a single manual paper-based transaction is 8 minutes, with costs $3 more than an electronic transaction.

"The introduction of VoPay 360 was a result of direct feedback from our customers who were experiencing inefficiencies in their current AR/AP processes and needed a more innovative approach," says Hamed Arbabi, Founder and CEO at VoPay. "In this day and age, managing collections and reconciliation should be easy, but that's not the reality. We want to help businesses eradicate the friction associated with multiple disconnected systems by maximizing digitization and bringing all the necessary tools into a single platform. I expect our customers to see immediate benefits from this 360 solution."

With our latest solution, VoPay 360, customers will have a complete 360-degree view of their financial transactions. By integrating, automating and simplifying these processes, businesses can expect speed, accuracy and efficiency of workflows to improve on all fronts.

Key benefits of VoPay 360 include:

• Integration: Allows VoPay customers to connect VoPay to their accounting system
• Centralization: Brings in open invoices and bills from the accounting system to VoPay
• Efficiency: Eliminates the manual processes of financial data entry, freeing up staff members so they can focus on more strategic tasks.
• Visibility: Real-time payment tracking enables businesses to immediately identify and resolve issues that may cause a delay in cash flow.
• Process Automation: Automate one of the most time-consuming and error-prone processes for business: the update of ERP systems with financial transaction data. Turn an open receivable or payable item into a closed or paid item automatically.

For more information about VoPay and VoPay 360, visit vopay.com/vopay360.

About VoPay
Offering industry-leading financial technology to Canadian enterprises, VoPay's Fintech-as-a-Service platform embeds financial services and real-time payment capabilities into existing applications, products or services through a single and scalable API. VoPay's unified technology stack eliminates the need to build the infrastructure and integrate multiple disparate financial systems. Businesses can go to market faster and offer innovative financial solutions to their customers.

Discover VoPay's intelligent and secure bank payments at: https://vopay.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20230201005380/en/

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