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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Everything You Need to Know About Central Bank Digital Currencies (CBDCs)
Apr 7, 2022 by Sage Thee
We touched briefly on central bank digital currencies (CBDCs) when we broke down the cryptocurrency Executive Order, but if you’re anything like us, that probably left you with even more questions about CBDCs.
Paystand's DeFi Corporate Card Media Round Up
Apr 5, 2022 by Sage Thee
We recently launched our DeFi Corporate Card, offering increased spend management tools and native Bitcoin rewards on every dollar you spend. Our CEO and founder, Jeremy, wrote an excellent tweet thread about it:
7 B2B DeFi Use Cases for Finance Departments
Mar 31, 2022 by Kelsey Banerjee
For years, decentralized finance (DeFi) has applied mainly to B2C transactions. Investors or individuals would load up their crypto wallets with Bitcoin or Ethereum or Doge tokens and hope for a rapid and dramatic increase in asset value. And while decentralized ledgers have been used since the 1980s for some B2B projects, DeFi didn't take off until years later.
Breaking Down the Cryptocurrency Executive Order
Mar 17, 2022 by Sage Thee
On March 9th, President Biden enacted the Executive Order on Ensuring Responsible Development of Digital Assets. You’ve probably seen a tweet thread or two about it, or perhaps this PYMNT’s article. However, you may still be wondering, like me, what does this mean for crypto? Is this a good thing or a bad thing?
Are Paper Payments Slowing Your Supply Chain?
Mar 10, 2022 by Sage Thee
Recent pandemic issues have had a big effect on the supply chain. You might not know that paper payments in your supply chain are slowing down your entire chain, too. Learn more about why companies choose to use paper payment processes, why they are a bad idea to keep as part of the supply chain and how automation can speed up processes.
A Bird’s-Eye View of the B2B Payments Landscape
Mar 3, 2022 by Brandon Jones
The B2B payments landscape is jumbled with options, and it can be hard to sort through everything when trying to understand what is going on. That’s why we’re helping you take a step back and giving you a bird’s eye view of the different B2B payment methods, their strengths and weaknesses, and what is lurking on the horizon.
Best practices for FinancialForce payments
Feb 22, 2022 by Kelsey Banerjee
As a popular cloud billing platform, the FinancialForce ERP is a fairly intuitive online invoicing software. And for a good reason. The learning curve is fairly low for anyone coming from the Salesforce CRM.
Guide to FinancialForce Invoicing
Feb 3, 2022 by Kelsey Banerjee
It's no secret why more and more accounting professionals are investing in FinancialForce. Powered by SalesForce, this accounting software combines its cloud billing platform with the SalesForce CRM, making it incredibly versatile.
Top 10 Software Solutions for Manufacturing
Jan 20, 2022 by Kelsey Banerjee
Let's face it, the manufacturing industry has a lot of moving parts, and software is required to keep a lot of it straight. From creating expense reports to reaching potential clients and reviewing inventory, the modern manufacturing company is tech-driven. To keep up with the global supply chain, there's really no other way to maintain operational efficiency.
The Transformation of Digital Payments from Legacy Payments
Jan 13, 2022 by Brandon Jones
As businesses become more tech-savvy, so must their business process. This is true for B2B payments, where a digital transformation is currently underway. And it’s all for the better—there are numerous benefits to switching to digital payments.