Paystand Blog

Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.

What Is Cash Application And Why Is It Important?

In the process of commercial transactions, the flow of goods and services often doesn't wait for payments to process. If the relationship between two businesses in good standing is solid, their accounts are assumed to be sufficient to cover regular exchanges of service. However, this agreeable arrangement makes for more complex accounting than business-to-consumer exchanges due to the delay in the transaction period and the vague and unpredictable quote to cash.

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Kenzie Earle Kenzie Earle on July 10, 2017

What to Look for When Choosing a Billing Portal

In our last look at traditional lockboxes, we learned what is entailed in the involved process and that there is a large margin for error. The current challenges include poor working capital optimization, zero cash visibility and friction in buyer-supplier relations due to frustrating limitations in the payments realm. One of the biggest issues in B2B payment processing is that both buyers and suppliers are comfortable with the way they’re processing payments now – even if the method is antiquated and ineffective. PayStand aims to stand by a progressive methodology in order to promote a higher standard in for players in the world of FinTech and the businesses that are impacted by it.

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Kenzie Earle Kenzie Earle on June 26, 2017

SaaS, blockchain, Billing Portal, AR Solutions, Digital Payment, Payment remittance, Payment as a service

The First Three Things to Do When Faced with a Chargeback

Credit card charge disputes, or "chargebacks," are unfortunately a part of doing business. Reasons for chargebacks are numerous, from stolen credit cards to dissatisfaction with goods or services, and everything in between. Understanding chargebacks, and how your company should respond when faced with one can help make the process easier.

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Kenzie Earle Kenzie Earle on June 2, 2017

ACH, eCheck, merchant fees, credit cards, Billing Portal

Top Software for Real Estate and Property Management Companies

As real estate and title services move into the 21st century, they are adopting more and more cloud software technologies.  These solutions help optimize service, collect information, share data and radically improve operations. There are a number of new tools on the market that are being adopted. Listed below are the most influential software companies for Real Estate Agencies:

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Kenzie Earle Kenzie Earle on May 24, 2017

Top Software, Real Estate

How PEOs Can Stay Relevant in the Wake of Digital Reformation

Being in the era of the technological revolution, there are expectations to deliver excellence via digital services. Though customer service is prevalent in the success of many companies, the option to utilize software and have a positive user experience on a digital platform has become equally important – and maybe even more relevant. Enterprises seek the ability to reform their business models with the use of digital technologies, the ability to create new revenue streams and innovative ways to connect with their market place. It has become a requirement for the service providers of today to play a part in the impact of the consumer experience, apply automation platforms, and work with those enterprises to collaboratively solve problems and foster growth. As a PEO, there is priceless value in the human element of your services, but that isn’t the end-all in todays day and age. Fortunately, there are a myriad of options in our software rich nation so that you don’t need to succumb to the inefficiencies that manual processing brings with it. In 2013, the PEO industry and health insurance brokers witnessed opposition emerge when HR software made its debut and inaugurated a new and simple concept - purchase your insurance from them, and they will provide the software to handle the HR element of your business. It was a pitch that investors certainly bought into. The business model became so dominant, that at one point, one of the top HR software companies was valued at $4.5 billion within two years of surfacing. So how to does a PEO marry its traditional business model and the digital reformation that has swept the competitive market place? Let’s take a look into becoming a business that offers the service AND the product.

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Kenzie Earle Kenzie Earle on May 17, 2017

B2B Payments, PEO, Payroll, Digital Alternatives

Why Paper Checks Remain the Dominant Method of Payment in the B2B Realm

Despite widespread availability and development of digital payment methods, paper checks are still alive and well in the world of Enterprise. The phrase "paperless society" is thrown around without much weight and may have many believing that swipes of plastic, insertion of chip readers and cash transfers at the click of a mouse are the predominate means of paying bills. Where this presumption may be more relevant on a B2C basis, the reality is that in 2016, 97% of companies that participated in a research study are still using paper checks to pay vendors and receive payment from customers. Looking at this from a sheer numbers standpoint, this means that there is $550 Billion stuck in pre-Internet paper, plastic, & manual processes. The Financial Revolution is here, so what is making the paper check so seasonable?

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Kenzie Earle Kenzie Earle on April 20, 2017

B2B, Paper Checks, Payment Solutions, Digital Payment, B2B Payments

6 Cloud Software Platforms for the Niche Necessity of the Solar Industry

In the digital age, companies are continually seeking innovative solutions to boost profits, increase systems efficiency, and achieve greater customer outreach. With heightened public awareness around renewable energy and stricter environmental regulations, solar energy is increasing both in value and demand. According to the Solar Energy Industries Association®, solar energy has experienced a compound annual growth rate of more than 60% in the last decade, largely due to the Solar Investment Tax Credit (ITC). Today, nearly 209,000 Americans work in the solar industry, and that number is expected to increase to more than 360,000 workers by 2021.

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Kenzie Earle Kenzie Earle on March 23, 2017

Top Technologies, Renewable and Energy, Guide to Success

The Advantages of eLockboxes & Modern Billing Portals

In our last article on traditional lockbox services, we learned that though it’s an antiquated method, traditional lockboxes are still the dominant way enterprise businesses transact. There is $550 billion lost while businesses continue to transact manually with other businesses via paper check. You don’t see people clutching their rotary phones after being offered the brilliance and convenience of an iPhone… after learning a bit about what eLockboxes offer, you will understand why it’s a payment solution that is finally gaining traction.

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Kenzie Earle Kenzie Earle on March 14, 2017

Accounts Receivable, eLockBox Service, Billing Portal

Top Technologies Making Law Firms Impervious to Competition

Technology cannot take the place of strategy, ingenuity or initiation, but it’s getting to the point where it takes over on almost every other field of business. For instance, a group of law students at the University of Cambridge in the UK have developed what they call the world’s most advanced legal chatbot. Lawbot helps victims of crime by providing a preliminary assessment of their situation then guiding them through the process of what legal mitigation to pursue.

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Kenzie Earle Kenzie Earle on February 22, 2017

Legal, Top Technologies, Tech Advancements

Solutions for Slim Margins in the Solar Industry

Solar Power & Renewable energy is one of the most promising new technologies of this century to sweep the nation.  A positive change to the legacy energy sector, solar aims to improve the environmental impact, lower cost for customers, and provide a new source to the aging grids.  With this growth, over the last decade solar has turned into a highly competitive industry, with each company eager to outbid the next to establish brand and become the dominant player as the nascent industry grows.  With this competition, the key question as a solar operator becomes how can you adopt a competitive advantage to improve efficiency and lower your costs.

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Kenzie Earle Kenzie Earle on January 12, 2017

ACH, eCheck, Tech Finance Solutions, Solar Industry, PV, Increasing Margins, DSO Solutions

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