Top 5 VersaPay Alternatives & Competitors to Look for in the Future

Founded in 2006, Versapay is a complete payment collection software to automate an organization’s accounts receivable (AR) function in the B2B space. Many small and medium businesses from various industries use this software to automate their payments and collections functions. Though many Versapay alternatives are available in the Software as a Service (SaaS) industry, Versapay is one of the pioneers in the industry offering AR automation solutions. Versapay also provides a collaborative AR solution for the team managing receivable collections and conveniences customers in the B2B industry with online payments. This article will feature five best Versapay alternatives that you can choose from.

Why Choose Versapay Alternative

One of the top players in cash management applications and accounts receivable automation solutions, Versapay is a reliable software. However, there are a few reasons why new competitors and alternatives can work better for you. Following are the reasons to choose from Versapay alternatives.

Ease of Use: Versapay, when entered into the market, was a kind of software solution with a number of features. It has evolved ever since, but the newer alternatives are more user-friendly compared to Versapay. The ease of setup and integration with other ERP solutions is another feature lacking in Versapay, which is one reason to look for alternatives.

Support Services: Support and professional services, including the support quality, ease of admin, and product direction, are other reasons to look for alternative software. Versapay offers intelligent collections, Omni-channel invoicing and online payments as its significant offerings, but other companies provide more secondary services.

Price: Many customers weigh the product in terms of prices and look for a good value for the subscription. Though Versapay is a comprehensive accounts receivable solution, getting better features for the same cost per subscription makes more sense for some customers. That’s why customers often look for more features for less price.

Alternative # 5: Gaviti

An accounts receivable solution popular in the information technology and services industry is Gaviti, which offers a comprehensive collection management solution. A dashboard with data analytics and valuable insights for decision making makes it easier to track payments and invoices on the go. You can also collaborate with your AR team using Gaviti, set a team calendar, and tracking your team’s progress with this software.

While it maintains an average level of customer satisfaction regarding accounting and payment-related tasks, its exceptional ability to handle partnership management as a business sets it apart as a superior solution.

• Customer Satisfaction: 7.5 out of 10
• User-Friendliness: 7/10
• Market Presence: 5.5/10

Alternative # 4: HighRadius

An AR automation software designed for any size of the business is HighRadius. Over 800 top businesses from various industries have transformed their cash management, treasury, and collection management with this software. The top customer list includes 3M, Unilever, Hershey’s, Kellogg and more. If you are looking for a no-code platform with a reliable order-to-cash solution, HighRadius is one to consider. For businesses looking for reliable customer service and a good B2B partnership management, HighRadius is a good platform with a better customer satisfaction score.

• Customer Satisfaction: 8 out of 10
• User-Friendliness: 8/10
• Market Presence: 7/10

Alternative # 3: BlackLine

The third on the list of best accounts receivable automation solutions is BlackLine, with a high customer satisfaction rate. BlackLine leverages automation to offer payment applications, risk management, and invoice collection solution. This also eliminates inefficiencies and ensures convenience for the customers and the AR teams with payment options and workflow automation, respectively. Apart from the accounts receivable management functions, BlackLine offers a variety of financial management solutions for businesses, including variance analysis, journal entry, and financial close management. 

Regarding client satisfaction, BlackLine has a good rating but a lower score on market presence, which lends second on our list of the best Versapay alternatives. Automated workflows, insightful analytics, and identifying collection bottlenecks are some of the best features to use this alternative of Versapay.

• Customer Satisfaction: 8.5/10
• User-Friendliness: 8/10
• Market Presence: 5/10

Alternative # 2: Cadency

The best alternative to Versapay is Cadency which boasts its history dating back to 2000. If you are looking for user-friendly, affordable, and cloud-based accounts receivable automation software, Cadency is the best option. Not only does this software resolve inefficiencies by automating invoicing and payment collections, it also automates workflows for the AR team while offering payment convenience to customers with various payment options. Managing late-paying customers with Cadency is easier because you can also automate your communication, including payment reminders, dunning letters, and thank you notes.

Another reason to choose Cadency over Versapay is that it doesn’t offer a monthly subscription model like other software platforms. You only pay as you go with a transaction fee per payment you receive from a customer, saving you a hefty subscription fee. If you already have an ERP for financial management, you can integrate with Cadency to synchronize all data, including customer information, invoices, and taxes, among other data.

• Customer Satisfaction: 9/10
• User-Friendliness: 9.5/10
• Market Presence: 5/10

Alternative # 1: Kolleno

Another superior alternative to Versapay is Kolleno, which automates the AR component of your financial operations. The top feature of this software is its lightning-fast payment processing speed, facilitating businesses to collect faster. Other features include improved credit control, invoice reconciliation, cash forecasting, and higher visibility into accounts receivable. This frees the time of your AR team to focus on other strategic tasks. The user-friendliness of the platform is also supportive to fist-time users. Advanced algorithm usage of Kolleno also helps with accurate data and insights for the financial teams to make decisions using a clear picture of financial status. If you already have accounting software, Kolleno offers integration with a number of platforms to sync your existing data.

• Customer Satisfaction: 9/10
• User-Friendliness: 9/10
• Market Presence: 7.5/10

Key Takeaways

Wrapping up the Versapay competitors, the blog detailed five AR automation software with customer satisfaction and user-friendliness score. Though all the software is reliable, some are popular in the B2B market, whereas a few have a limited market presence. Kolleno and Cadency excel in user-friendliness, making them stand out at the forefront of the list and top customer satisfaction scores. If you already have accounting software, Kolleno tops with integration support for several platforms so you can sync your data. Each of these platforms is adaptable to your business’s future requirements. Some provide tailored solutions for small and medium-sized enterprises, while others offer enterprise-level solutions, allowing you to select the one that best suits your business needs.