Executive Interview with Versapay CEO on Reaching 1 Million Companies on its Network

Big milestones don’t come along that often, but when they do, it’s something to really celebrate. For Versapay, they hit a massive milestone of reaching one million companies using its B2B network to streamline their accounts receivables process.

Recently, Aaron Back, Chief Content Officer for Dynamics Communities, had the opportunity to sit down with Versapay‘s Craig O’Neill, CEO, and David Gersten, National Partner Manager, to chat about how they achieved this growth and where the company is headed in the future.

Highlights

00:11 – Aaron welcomes Craig and David to the conversation and learns a bit about their backgrounds.

02:46 – According to Craig, what really contributed to Versapay hitting this milestone was “a need in the market.” Further, he outlined their core goal of having “a platform where hundreds of thousands, or even millions of companies are working together to transact better together.”

06:00 – David digs into one of Versapay’s core values: “Customer obsession”. Part of this obsession is recognizing the value of the network of buyers and sellers, and then further out to the community of users; and really listening to the customer to understand what they want and how Versapay can evolve its network.

09:21 – Over the last 3 years, Versapay has seen explosive growth, going from about 250,000 companies on the network at the start of the pandemic to quadruple with 1 million companies on its network.

13:18 – Craig shares how their evolution started about 9 years ago with a simple message of “we want to help you be more efficient in terms of how you build your clients and collect money.” Craig used to joke that “finance leaders aren’t losing sleep at night thinking about how they make AR process more efficient.” Then Covid hit and the need to digitize and transact differently became more urgent.

17:15 – So, what’s next for Versapay? David continues to be passionately focused on listening to partners and ISVs, and their customers which will lead to ongoing collaboration. For Craig, as they see their network get bigger it becomes a “center of gravity” that draw other suppliers and customers. Further, the continued attraction of strategic partnerships, as Versapay has done with AmEx, will be another key element to their continued growth.

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