Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.
Why You Need an Accounts Receivable Process Flowchart
Feb 28, 2024 by Zazil Martinez
Consider creating a flowchart if you're looking for ways to improve your accounts receivable process. An accounts receivable flowchart visually represents the collection process, highlighting areas of inefficiency and opportunities for automation. Accounts receivable flowcharts are excellent for helping accounts receivable departments to visualize their processes. They often help pinpoint which areas are ripe for automation or improvement. Not only can they effectively keep your team on the same page and train new employees, but they can also help you see areas of inefficiency.
How to Find the Best AR Automation Software for Your Business
Feb 23, 2024 by Zazil Martinez
Finance professionals always search for ways to enhance efficiency and streamline financial operations. One powerful solution to address these challenges is finding the best AR automation software. But what exactly does this mean for CFOs and finance teams? Imagine that tedious tasks of manual invoicing, chasing payments, and reconciling accounts are in the past. The best AR automation software offers a solution that automates and optimizes accounts receivable management. This lets finance professionals focus on strategic initiatives rather than mundane administrative tasks. But with so many available options, choosing the best AR automation software can be daunting. Here's a comprehensive guide on what to look for to select the best one for your business.
Top Challenges Accounts Receivable Teams Face and How to Solve Them
Feb 20, 2024 by Zazil Martinez
In today's fast-paced digital marketplace, accounts receivable (AR) teams face numerous challenges that impact a company's cash flow and growth. Even with an optimal rhythm, some remain significant. Common accounts receivable challenges include high DSO, ledger disorganization, poor communication, and inadequate policies. Streamlining processes, offering multiple payment options, going paperless, updating customer information, and automating AR can overcome these. A structured credit policy can help identify suitable customers. A weak accounts receivable management process can cause several other unintended consequences, including:
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5-Minute Guide to Reconciliation in Sage Intacct
Jan 31, 2023 by Sage Thee
Reconciliation 101 Payment reconciliation is a crucial step in the accounting process, ensuring company accounts are up to date and helping to uncover fraud, errors, and outstanding balances. Reconciliation gives you a comprehensive view of your company’s financial health, so you can forecast your cash flow and make insightful, strategic financial decisions.
Myths & Facts About Credit Cards
Jan 24, 2023 by Sage Thee
For better or worse, we’ve accepted credit cards as a business necessity. But how much do we really know about them and their complicated processes and fees? Are there better options out there for B2B payments than credit cards?
Knocking Down Barriers for a More Open and Equitable Financial Future
Jan 20, 2023 by Sage Thee
Here at Paystand, we believe that financial institutions have locked their customers into restrictive, expensive processes to collect and track revenue for far too long. These inefficient legacy operations result in time-consuming, costly, manual processes that cut into your bottom line.
Growing With Paystand
Dec 16, 2022 by Sage Thee
It’s been an eventful and exciting year here at Paystand. We’ve been growing at an unprecedented rate, sprinting toward Unicorn Status and expanding our mission. Here’s a quick rundown of what we’ve been up to:
Guide to a Stress-Free Month-End Close
Dec 13, 2022 by Sage Thee
Nobody looks forward to the month-end close. It’s stressful, exhausting, and — most of all — time-consuming. Accounting departments typically spend 36 hours manually reconciling payments every month. If there are any manual entry errors, discrepancies, or other issues, that time increases drastically.
Paystand’s 2022 New Feature Roundup
Nov 10, 2022 by Sage Thee
It’s been a year of exciting innovation here at Paystand, from our first-of-its-kind DeFi card we launched in March to our brand-new Next-Day Funds Availability feature. This guide will give you a comprehensive overview of each of our new features, as well as further resources to dig deeper.
The Inside Scoop on our Dynamic Discounting App for NetSuite
Nov 4, 2022 by Sage Thee
What if there was a way to incentivize your clients to pay faster? Everyone from AR clerks to VPs of finance knows early access to cash is key to the survival of the enterprise. Unfortunately, many industries and buyers are known to be slow to pay, DSO feels unnecessarily lengthy, and businesses need more tools to speed up their time to cash. To put it bluntly, many AR departments feel they are officially “at the mercy” of payers and have little-to-no recourse in accelerating their payments to improve cash flow.
Paystand Named a Fastest-Growing Private Company by Silicon Valley Business Journal Two Years in a Row
Nov 2, 2022 by Sage Thee
SCOTTS VALLEY, Calif.--Nov. 2, 2022--Paystand – the fastest-growing, blockchain-enabled B2B payments network – today announces that the Silicon Valley Business Journal has named it one of its fastest-growing private companies. Paystand placed third for the second consecutive year. The company has grown 876% year-over-year for the past three years, doubling annual revenues every year it’s been in business.
Attracting Merchants with PaaS Solutions
Nov 1, 2022 by Sage Thee
First things first, what is Payments-as-a-service (PaaS)? PaaS upends the traditional fee-based payment model, utilizing a subscription-based software model instead. That means you pay a flat monthly rate to use PaaS software instead of losing a cut of every transaction to processing and transaction fees.
Introducing our New and Improved Features for Sage Intacct Customers
Oct 21, 2022 by Sage Thee
We recently announced our latest upgrades to our Sage Intacct integration. Paystand’s improved Smart Lockbox and Payer Portal provide Sage Intacct users with enterprise-grade multi-entity support, automated collections, multi-invoicing, virtual terminal, and auto-pay.