Payment is a crucial step in any customer-vendor interaction. It completes the transaction and defines a successful customer conversion. Despite its strategic importance, businesses worldwide typically mark this step as just another customer touchpoint. As shifts in technology have revolutionized many industries over the past decade, payments also deserve a closer look.
Software is changing our world and the way companies operate in it. Shifts in technology and the rise of modern, cloud services have reshaped entire industries. These shifts have created zero-sum situations with a new set of winners, leaving many businesses who did not -- or were unable to -- reinvent themselves on the outside looking in. For every Uber, AirBnb, and Netflix, there are many more local taxi, hotel, and video rental companies who did not embrace new software and services. To remain relevant in today’s rapidly changing business world, it is important to continually review and reimagine your business by taking advantage of the latest developments in technology. In this article we'll discuss Software-as-a-Service (SaaS) and how to incorporate SaaS to offer Payment-as-a-Service.
Introduction
The end goal of any payment processing system is to offer a convenient way to transfer economic value securely. This is a very important step in any business as customers have to trust the system to buy services or products. With that being said, not all payment systems are the same. Virtual Terminals provide better overall value in comparison with traditional Point of Sale systems. Not only are they easier to use and understand, but also involve easy setup while maintaining flexibility and providing better value for merchants and customers alike.
How to Use the NetSuite Payment Plugin To Email An Invoice with a Digital ‘Pay Now’ Button in your e-Invoice
netsuite, automation, Auto-reconciliation, AR digitization, Plugin
In our last article, we wrote about the features to consider when choosing a NetSuite payment plugin to cut costs, improve efficiency, and eliminate manual processing. These features will help you maximize your NetSuite investment.
What to Look for When Choosing a Payment Application for NetSuite
netsuite, automation, multiple payment rails, reporting, Auto-reconciliation, AR digitization
NetSuite is a complete, scalable cloud ERP (enterprise resource planning) solution targeted at high-growing, mid-sized and large enterprise businesses. It automates portions of front- and back-office processes including: financial management, revenue management, fixed assets, order management, billing, and inventory management. This article will walk you through what assets are crucial when choosing your company’s NetSuite payment module.
Being very familiar with operational hurdles that plague the industry, we want to address a major concern in the Solar and Energy industry. With green initiatives sweeping the nation and solar companies popping up all over the map, the Solar industry in inundated with business and home owners looking to save on their energy bills. But because the industry is still fairly new, there are gaps in the operational flow and software innovation specific to the industry is severely lacking. Many Solar and Energy companies are still using systems that are built for other types of field services, leaving their day-to-day ops with a need to be streamlined. With payments sitting at the heart of any business and cash flow being crucial for financial health, this is one of the main solutions that many CFOs, controllers and finance reps are vying for. Below are top solutions for stagnant cash flow and poor collections on Accounts Receivable in the Solar and Energy Industry. Stop being bogged down by antiquated methods of payment like the use of the paper check; there are cost reducing, speedy ways to get paid. We are here point you in the direction of automation, efficiency, security and an optimal ROI.
The Inside Story behind our Series A Funding and our New AP Solution
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We recently announced a $6M Series A round led by BlueRun Ventures with participation from Cervin Ventures, Serra Ventures, TiE, LEAP and Capital for Founders. You can read the full press release here. Alongside the funding we also are announcing a new free product line in beta called AP. Read on to get the insider take on why we raised the capital, why we are building AP, and what's in store for the future at PayStand.
As companies grow, small-mid sized business accounting software doesn’t always cut it. If your business is outgrowing your current accounting software, it may be time to consider adopting an enterprise resource planning (ERP) software. ERP systems provide companies the ability to manage every aspect of their business, from accounting to supply chain management to marketing. Plus, with many of today’s companies moving to the cloud, ERP systems are too, providing better security and more flexibility for how businesses operate. There are a number of new cloud ERP tools on the market that are being adopted. Listed below are the most promising software companies for ERP enterprise customers:
On the surface, revenue recognition is a fairly simple concept: when it comes to presenting the true value of your business to investors, it is important to accurately report your revenue. That means reporting the actual cash earned in the course of your business. In essence, there are standards related to revenue recognition to protect potential investors from fraudulent business practices, which could allow businesses to overstate their value. If discovered, failures to properly document and report actual revenue can be severe and could damage the long-term value of your company. That's why automated accounting is becoming increasingly necessary and even expected in order to protect businesses, their shareholders, and their customers.
