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.
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.
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.
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.
Make payments a strategic advantage for your business
Paystand is on a mission to create a more open financial system, starting with B2B payments. Using blockchain and cloud technology, we pioneered Payments-as-a-Service to digitize and automate your entire cash lifecycle. Our software makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue.