A construction payment management application that helps general contractors, owners, and subcontractors simplify and automate the draw process. Reduces risk by securely managing lien waivers and compliance. Increases visibility to downstream payments to minimize the risk of disruption and ensure the entire supply chain is paid on time for work completed.
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Versapay
Score7.9 out of 10
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Versapay is an AR automation solution from the company of the same name in Toronto, providing what the vendor describes as a customer-centric solution combined with digital invoicing and and statements, and integrated payment solution allowing users to accept all payment types across AR, ecommerce, and POS channels within the user's own ERP.
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Pricing
Oracle Textura Payment Management
Versapay
Editions & Modules
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No answers on this topic
Offerings
Pricing Offerings
Oracle Textura Payment Management
Versapay
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
No
No
Entry-level Setup Fee
No setup fee
No setup fee
Additional Details
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More Pricing Information
Features
Oracle Textura Payment Management
Versapay
Accounts Receivable
Comparison of Accounts Receivable features of Oracle Textura Payment Management and Versapay
For a GC that wants to make things easier for both the themselves and all subs, this is absolutely the best solution out there. Some GCs still approve changes using purchase orders rather than change orders and allow invoicing to occur at any time during the month However, they should change their process to align with Oracle Textura Payment Management's draws. Without a draw process and confirmed invoice submission along with ACH payments, we have had invoices lost, payments lost, and time lost from having to track all of it. I can't think of a reason it would not be appropriate.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Task Management needs a "Mark all as Read" or similar function. They pile up per job and are only able to be completed using certain links and processes.
Payment Notification emails should include payment details including amount(s), joint check info, and check numbers.
Projects should be able to be removed or archived by the subcontractor. We have jobs showing on our home page that are 3+ years since completion.
Retention billing is very confusing and should be communicated more clearly. There should also be a button that allows for all retention to be billed at once rather than having to type in the amount per line item.
Sub-Tiers should not be a menu to click through if there are no sub-tiers for a sub.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Although there are minor improvements to be made, Oracle Textura Payment Management is far and away the easiest payment solution out there for any invoicing procedure that requires monthly draws.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Oracle Textura Payment Management is better and more refined than similar products. Procore has a ton of other useful features and GCPay is straightforward with a simple UI. Like most things in tech, it comes down to user base and Oracle Textura Payment Management has the most jobs of ours using it meaning it has the biggest positive impact on our business.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
Oracle Textura Payment Management has dramatically improved our AR process (when the GC uses it). We wish that every job used it so we wouldn't have to deal with the dozens of builder-specific invoicing processes each month. Before Oracle Textura Payment Management, each builder had specific process we had to follow in order to get paid. After GCs started to use it, we have been able to consolidate multiple clients and jobs into a single easy-to-learn and easy-to-teach process that allows us to submit invoices easily and track when we are going to get paid.
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
A de minimis incentive was given to thank the reviewer for their time. The incentive was not used to bias or drive a particular response, nor was the incentive contingent on a positive endorsement. More Info
