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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B2B Ecommerce for NetSuite: Q&A with Caleb Schmitz on SuiteCommerce and SuiteCommerce Advanced
Apr 17, 2020 by Eduardo Lopez
SuiteCommerce is NetSuite's native ecommerce platform. It helps businesses get set up and selling with no hassle and connects your online sales and in-store POS with other parts of your business.
NetSuite Implementation Best Practices from Anchor Group's Caleb Schmitz
Mar 19, 2020 by Caleb Schmitz
Enterprise Resource Planning (ERP) software provides the infrastructure needed to effectively manage your company's financials. NetSuite is one of the best ERP systems for growing businesses because it is highly customizable with features that lend well to scalability. As your business grows, it adapts to your needs. That is why so many companies switch to NetSuite once they reach the $10 million annual revenue mark.
Supporting Our Customers and Partners During the COVID-19 Event
Mar 17, 2020 by Jeremy Almond
A note to our customers and partners: In difficult times, we know it’s more important than ever to ensure the business critical operations of our customers. The rapid spread and outbreak of the novel Coronavirus (COVID-19) has affected each of us, and we’re adjusting to our new reality along with you. At Paystand, we understand the challenges your teams are facing and we want you to know that serving our customers and maintaining seamless operations has never been more important.
Why Paystand Raised $20M to Fix Commercial Payments
Feb 7, 2020 by Jeremy Almond
Today is a big day for Paystand: We closed a $20 million Series B investment round from the same venture teams that invested in Coinbase, Gusto, Intacct, Coupa, PayPal, Avalara, and many others. We’d like to welcome DNX Ventures, Battery Ventures, Epic Ventures, Commerce Ventures, and Wildcat Ventures as new investors, as well as welcome Roman Leal from Leap Global Partners as our newest board member.
New Year’s Resolutions for Accounts Receivable Teams in 2020
Jan 13, 2020 by Eduardo Lopez
With 2020 finally upon us, it’s time to start making our New Year’s resolutions. You may already have set your personal goals, but what about your Accounts Receivable resolutions? As an accountant, these resolutions might look a little different, but that’s why Paystand is here to help.
What is Fund-on-File Tokenization?
Dec 18, 2019 by Eduardo Lopez
Tokenization is a process of replacing sensitive data with non-sensitive data. It is used to safeguard your payment information by replacing it with a unique string of numbers.
4 Must-Have Features to Consider When Choosing a NetSuite Payment Solution
Dec 16, 2019 by Eduardo Lopez
What should you look for in a NetSuite payment solution? NetSuite has an app-store of solutions called SuiteApps. The right payment solution, or SuiteApp, will not only integrate easily with your current systems, but will also help you reduce processing costs, speed up collections, and streamline the payments process for your customers. In this blog, we’ll explore four key features to look for when choosing a NetSuite payment solution.
How Does Paystand Automate the Accounts Receivable Process?
Nov 22, 2019 by Eduardo Lopez
Paystand automates the entire Accounts Receivable process, so you never have to spend hours manually collecting and reconciling payments. The benefits are two-fold: your team removes hours of repetitive tasks from their workload, and tasks are automatically executed error-free on your behalf. Paystand also helps businesses reduce late payments. That's why Paystand customers usually decrease the number of overdue receivables by 62% in the first few months.
Here's What You Can Do With Paystand's SuiteApp Features
Nov 15, 2019 by Eduardo Lopez
Paystand's Built-for-NetSuite SuiteApp has proven to be one of the most powerful payment integrations in the NetSuite ecosystem. Its flat monthly pricing and zero-fee payment rail make Paystand an extremely enticing payment solution for NetSuite users, and that value is only multiplied when you factor in Paystand's ability to automate the entire A/R process and handle everything digitally.
AFP 2019: Takeaways for B2B Payments & Commercial Finance
Nov 5, 2019 by Eduardo Lopez
Real-time payments, machine learning, decentralized ledgers – how do you sort through the hype and figure out what’s important in 2020? That's what this year's AFP Treasury and Finance Conference was all about. The event, which attracted more than 7,000 attendees, highlighted how technology is expected to continue disrupting accounting and finance. Read on for an insider’s recap of the event's top takeaways.