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

April 2, 2019 by Mark Fisher

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.

Elenteny Imports

When Elenteny Imports came to us, we were excited for the opportunity help them scale their burgeoning accounting operations. The growth of the business combined with strict federal regulatory requirements for same-day payments created a heavy manual burden. Elenteny Imports needed to overhaul their same-day payment process and reduce manual keying fast, all while working within their system of record: NetSuite.

 

TEI - Beer Beverage and Distribution


As part of the implementation, Elenteny Imports’ NetSuite consultant worked directly with PayStand to install PayStand's SuiteApp for NetSuite. The SuiteApp integrates directly with NetSuite, allowing Elenteny Imports to take advantage of all the functionality PayStand has to offer while keeping their primary workflows within NetSuite.


That meant the introduction of digital payment methods that meet federal regulatory requirements for same-day payments, without removing the paper check option for those who absolutely need it. Everything PayStand provided was additive and could either replace or sit beside any existing Elenteny Imports’ A/R workflows.


The PayStand SuiteApp integration also provided a drastic reduction in manual keying due to the addition of automated invoicing processes. Creating, sending, and closing invoices all happens based on a series of triggers, and customers are able to self-serve using the PayStand billing portal.

imac-netsuite


Today, Elenteny Imports can initiate all payment processes from inside NetSuite via the PayStand for NetSuite SuiteApp. Users have the option to log into PayStand to pull customized reports for analysis, but day-to-day functions all take place in one centralized platform.

Want to learn the full story on how Elenteny Imports added PayStand and achieved major results? Download the Elenteny Imports case study for more.

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