Versapay to provide AR automation and e-invoicing for ShopOne Centers

Friday 24 August 2018 10:14 CET | News

Commercial real estate investment trust ShopOne Centers has signed with cloud-based solutions provider VersaPay Corporation.

The platform was selected by the REIT on the basis of the strength of VersaPay’s invoice-to-cash solutions, which cover electronic invoice presentment and payment, automated accounts receivable, and cash application/collections management, among others.

Investment in Canada’s commercial and residential property spheres remained unabated this year, with investors unruffled by the global economy and cross-border trade wars. The Greater Toronto Area, in particular, has seen its commercial real estate segment reach record highs in 2018, with a total investment value of around USD 5.6 billion (spread across 547 transactions valued at over USD 1 million) in the second quarter alone.

This brought the total investments for the first half of the year to USD 11.3 billion, representing a 6% annual gain over the record-breaking first 2 quarters of 2017, the Altus Group stated in its recent market report.

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Keywords: VersaPay, accounts receivable, Canada, ShopOne Centers, real estate investment trust, cloud-based solutions provider, electronic invoice presentment and payment, automated accounts receivable, cash application/collections management
Countries: World