Paystand Blog

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

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How to Save Money on B2B Credit Card Processing Fees

Jun 2, 2023 by Brandon Jones

High credit card processing fees can significantly impact the profitability of B2B businesses, cutting into profit margins and harming competitiveness. However, effective and budget-friendly payment options can keep processing times short without triggering excessive fees.

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How Automation Helps Avoid Broken Transfers

Jun 1, 2023 by Zazil Martinez

In the fast-paced world of B2B, an efficient accounts receivable process is vital for smooth operations. One common challenge that can disrupt the entire staff is broken transfers. While seemingly insignificant, these disruptions can significantly impact the AR process, leading to a lengthened cash cycle and increased DSO.

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How Blockchain is Transforming Accounting and Finance

May 31, 2023 by Zazil Martinez

As technology continues to shape our lives, one revolutionary solution has emerged to transform the way we record, verify, and audit financial transactions: blockchain. With its ability to introduce transparency and decentralized record-keeping, blockchain holds immense potential, particularly in accounting.

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How to Evaluate your Cash Flow Health

Apr 5, 2023 by Zazil Martinez

Measuring cash flow should is always tied to business goals and operational needs. Every company has different needs, so indicators in cash flow statements vary accordingly.

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9 Types of NetSuite Keyboard Shortcuts You Need to Know

Apr 4, 2023 by Kelsey Banerjee

You're in good company if you are an accounting professional with one of the 27,000 firms using Netsuite. And you already know how useful its system is. From adding shortcuts to your dashboard to automation integrations, there's always a new way to make the ERP more efficient for your team.

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Pros and Cons of Accepting Credit Cards for Your Business

Apr 3, 2023 by Brandon Jones

In today's fast-paced digital economy, businesses must adopt new technologies to stay competitive. Credit cards offer many advantages to businesses, but they also have disadvantages. What should companies consider to accept or decline credit card payments?

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What’s the Difference Between ACH and EFT Payments?

Mar 30, 2023 by Zazil Martinez

B2B payments have officially moved online. But like with any other changing technology, there's the misconception that online money transfers are risky.

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An Introduction to DeFi

Mar 29, 2023 by Zazil Martinez

Decentralized Finance (DeFi) is a new financial system based on blockchain technology and allows for financial transactions without intermediaries like banks. While DeFi is still in its early stages, it has the potential to transform the traditional financial system and create a more inclusive and accessible financial future.

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Most Common Excuses AR Staff Hear for Late Payments (and What to Do About It)

Mar 28, 2023 by Kelsey Banerjee

As the month draws to a close, you look at the ledger and realize that there are still many invoices waiting to be filled. Some of them will be paid late, and others will be left to wither in the “bad debt” heap. Meanwhile, tight cash flow causes you to count every cent carefully for all budget requests.

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The Guide to Payment Terms (and How to Optimize Them)

Mar 24, 2023 by Kelsey Banerjee

Payment terms are essential in any business transaction as they define the cash flow cycle. They are the rules that ensure vendors and suppliers get paid on time and customers know when to expect payments. When discussing payment terms, we refer to the conditions that dictate when and how payments should be made.

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5 Strategies for Effective Accounts Receivable Management

Mar 23, 2023 by Zazil Martinez

In today's business environment, it is crucial to have a robust and cost-effective payment process. Achieving this requires careful consideration of data, hidden costs, and risk while balancing time, bandwidth, and customer relationships. Your AR staff may be spending a lot of time taking, processing, and reconciling payments, and your business may be paying high and unpredictable credit card fees each month.

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The Benefits of Digital Payments for B2B

Mar 22, 2023 by Zazil Martinez

The shift towards digital payments has led to fast and efficient business growth opportunities. However, most business accounting and finance departments still need to catch up in adopting this payment method. By eliminating paper checks, the AR process becomes more effective, leading to faster payment cycles and efficient collections.

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How Much is it Costing Your Business to Accept Paper Checks?

Mar 17, 2023 by Zazil Martinez

Paper checks are one of the most costly ways to collect payments. Still, many businesses think getting paid by check is the most affordable method. In 2021, 91% of organizations across the U.S. continued to receive checks, even though they understand the associated costs and risks.

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