How these 5 Companies Reached their Financial Goals with Paystand
On our path to rebuilding the commercial finance system from the ground up, we've encountered a variety of challenges faced by our clients.
Whether through AR optimization, cash flow improvement, or operating cost reductions, Paystand has risen to the occasion and proved our commitment to transforming the B2B payments industry through automation and blockchain.
The best way to understand how Paystand can help your business is by learning how we have already helped businesses solve the same problems you’re facing. Read on to see how businesses have incorporated Paystand and how we’ve helped their business thrive.
AR Optimization for Elenteny Imports
Elenteny, a food and beverage New York-based company, works primarily with non-U.S. businesses, so federal import regulations play a significant part in the company's day-to-day operations. Due to time zone differences, transactions need to be immediate, precise, and flawless to reduce mistakes, which are common in manual processing.
Paystand's SuiteApp integration with NetSuite gave the Elenteny team the ability to process multiple same-day payment options – including eCheck, ACH, debit, and credit cards, reducing the staff's data entry time, and offered customers to self-serve and make payments without assistance from their Import's staff, experiencing significant growth in sales while maintaining an increase in team capacity.
Read more about our process with Elenteny Imports here.
Cash Flow Improvement for Covetrus
At Paystand, we understand that streamlining payment processes is essential for businesses of all sizes. That's why we offered Covetrus, a Portland-based veterinary tech company, a solution that automates payment processing while centralizing accounts receivable in one platform.
Implementation took two months, but the results were immediate: automating invoicing and reconciliation workflows reduced the staff's manual efforts, and customer self-service increased with multiple payment methods ––including eCheck, ACH, debit, and credit cards, in any currency, easing the flow of the entire payment process for them and their clients.
Learn more about Covetrus' journey with Paystand here.
Cost Reduction for Allterra Solar
When talking about renewable and sustainable energy, resource savings are imperative in all aspects of every process. That's why Allterra Solar, a California-based company, teamed up with Paystand to improve its automated payment processes and, in doing so, joined the circle of innovation, productivity, and sustainability.
We helped Allterra automate its AR function and receive payments more quickly and securely. As a result of partnering with Paystand, the renewable energy company could improve its operational efficiency, reduce costs, and redeploy large sums of capital to more productive uses.
Get all the information about our job with Allterra here.
AR Optimization and Cost Reduction for Super 7
For Super 7, a San Francisco-based company specializing in collectible toys, automating its financial processes is not a matter of play. So when looking for a solution to update its slow and outdated manual processes, Paystand emerged as the right choice.
With Paystand's Smart lockbox solution, Super 7 digitized the entire workflow, from invoice matching and cash application to bank reconciliation. This streamlined process eliminated the need for manual input and processing, which helped them save time and money.
Click here and learn more about Paystand's solutions for Super 7.
Integrated Solutions for Motorola
Motorola is a cutting-edge company that has always been characterized by innovating and presenting advanced technology. It was to be expected that this vision would permeate its financial processes, which were in urgent need of updating for better, faster, and more efficient results.
Paystand's AR automation integration with NetSuite reduced the time spent on collections, improved the overall payment process, and cut processing costs. This integration is just one example of how Paystand is helping large enterprises like Motorola modernize their B2B payments.
For more insights on our collaboration with Motorola, click here.
If your business, like these companies, is looking for ways to streamline its financial processes and optimize resources through automation, request and book a demo with one of our AR experts today.