How much is it costing your business to accept paper checks?

Paper checks are one of the most costly ways you can collect payments from your customers. Many businesses think getting paid by check is free, but this couldn’t be further from the truth. Paper checks are loaded with labor costs, processing fees, and hidden markups. Last year alone, North American businesses processed over $18 trillion in paper checks, and it cost them a staggering $550 billion in profit due to delays, labor, and errors.

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Eduardo Lopez on September 4, 2019

Payments, Paper Checks, Digital Payment, Paystand Bank Network

6 Ways NetSuite Users Can Reduce DSO By 30%

Managing receivables is one of the most important parts of any business. One wrong move and you’re dealing with unhealthy cash inflows and missed or delayed payments. Whether you’re a CFO thinking about financial strategy or a controller focused on managing internal controls and processes, it’s important to keep your Days Sales Outstanding (DSO) to a minimum.

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Eduardo Lopez on August 21, 2019

Payments, DSO Solutions, Accounts Receivable, netsuite

You Now Have an Enterprise Blockchain

From the start, our mission has been to create a more open financial system. We’re proud to announce we have made a significant step toward realizing that future today.

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Mark Fisher on August 1, 2019

blockchain, OpenIndustry, Assurety, api

Building #OpenIndustry: The Story Behind Paystand’s New Logo

Today we’re unveiling a big update to the look and feel of the Paystand brand.

Our new logo marks a significant change in our company evolution and is the result of a comprehensive exploration of our brand. It gave us an opportunity to look deeply at who we are, what we stand for, and where we’re headed as a company.

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Mark Fisher on July 18, 2019

OpenIndustry, Culture, Company

The Four Pillars of Modern B2B Payments

Creating a modern B2B payments experience comes down to one idea: transactions should be frictionless.

There's no reason a customer should worry about how much they're being charged or whether a transaction is secure. Vendors shouldn’t spend time thinking about what payment methods to accept, how quickly they'll receive payment, or how to integrate those payments into their overall cash cycle. All of those things should be automatic.

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Eduardo Lopez on July 9, 2019

payments-as-a-service, blockchain, Digital Payment, automation

Paystand Hires Former Tipalti Chief Revenue Officer to Lead Sales

Payments-as-a-Service leader adds former Tipalti senior executive to spearhead sales and drive another year of explosive growth.

SCOTTS VALLEY, Calif., June 20, 2019 — Paystand, the digital B2B payment network for the future of commercial finance, today announced Mark Hassin as its new Senior Vice President of Sales.

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Mark Fisher on June 21, 2019

Executive Team, People

Paystand Announces Automated Receivables Product to Further Streamline Enterprise Payments

Collections Automation Product Goes Far Beyond Simple Email Contact, Using Blockchain Technology to Maximize Employee Time and Streamline the Payments Process

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Mark Fisher on April 10, 2019

How to Digitize the Enterprise Cash Cycle, Part 3: Reconciliation

Does anyone really look forward to the month-end accounting close process? Given how long it takes, it’s really hard to imagine that the answer is “yes.” Estimates on how long month-end close takes range from barely manageable to incredibly arduous:

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Scott Campbell on April 9, 2019

Payments, ERP, Payment Solutions, AR, automation, Business Process Management

Accounts Receivable Automation with Paystand Drives Capital Efficiency and Lowers Costs for Elenteny Imports

Here at Paystand, we pride ourselves on being the most flexible B2B payment platform available for growing businesses. When we engage with a new customer, our goal is to help the business automate manual processes and digitize their enterprise cash cycle in a flexible, customizable way.

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Mark Fisher on April 2, 2019

Accounts Receivable, Finding Efficiency, B2B Payments, netsuite, AR digitization, Customer Success

How to Digitize the Enterprise Cash Cycle, Part 2: Payments

In our previous post, we talked about the importance of looking at the enterprise cash cycle as a whole to get a better understanding of how it functions today. Armed with an informed perspective on all parts of the process, business leaders can then recommend changes to optimize revenue.

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Scott Campbell on March 14, 2019

Payments, Payment Solutions, AR, automation, Business Process Management