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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Cash Application | B2B Finance Glossary
Oct 10, 2023 by Zazil Martinez
What is Cash Application? Cash application is part of the accounts receivable process: it occurs when incoming customer payments are matched with their respective open invoices.
Paystand Integrates with Microsoft Dynamics 365 Business Central for One-Click Accounts Receivable Automation
Oct 9, 2023 by Erika Hernandez
Cloud-based system delivers enterprise finance faster time-to-cash with no fees
The Guide to Payment Terms (and How to Optimize Them)
Oct 4, 2023 by Zazil Martinez
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.
How Automated Payment Services Can Improve Your Business
Oct 3, 2023 by Zazil Martinez
Automated payment services have many benefits. They help reduce costs, process invoices faster, and prevent errors. Integrating payment automation with ERP systems reduces friction, lowers costs, and boosts efficiency. Platforms like Paystand help transform AR management and improve cash conversion cycles.
Paystand Named Best B2B Payment Platform by Juniper Research
Oct 3, 2023 by Erika Hernandez
With 600,000 payers now on Paystand’s blockchain Network and $6 billion in transactions, Paystand stands out in the realm of decentralized finance.
Empowering Secure Transactions: Paystand's Integration of 3D Secure
Oct 2, 2023 by Daniel Escudero
In an age of rapidly advancing technology, security is paramount, especially when it comes to online financial transactions. Paystand is excited to announce a significant step forward in enhancing the security of our payment platform with the integration of 3D Secure technology. In this article, we'll delve into the details of this new enhancement and explore how it reinforces our commitment to providing secure and seamless payment solutions.
What’s the Difference Between ACH and EFT Payments?
Sep 29, 2023 by Zazil Martinez
Digital transactions have revolutionized B2B payments, changing the landscape completely. At first, people were unsure about sending money online. But now, it's essential to understand that digital payments have become much safer and faster. To know how ACH and EFT differ and how this knowledge can impact your business, delve into this insightful exploration.
A Simple Guide to ERP Payment Gateways and Portals
Sep 28, 2023 by Zazil Martinez
Integrating front- and back-end systems is vital as online business transactions surge. Traditional fund transfers can be cumbersome and costly. The solution? Enterprise Resource Planning (ERP) systems.
9 Types of NetSuite Keyboard Shortcuts You Need to Know
Sep 22, 2023 by Zazil Martinez
Speed up and improve your NetSuite experience by using important keyboard shortcuts. You can use them when searching for data, speeding up data entry, or navigating reports. Make your work faster and easier by using these nine NetSuite keyboard shortcuts.
Push-to-Card (P2C) Payments | B2B Finance Glossary
Sep 21, 2023 by Zazil Martinez
What is a Push-to-Card (P2C) Payment? A push-to-card (P2C) payment – also known as a push payment, a digital disbursement, or a debit card disbursement – is a type of payment solution that allows a cardholder to send or, in other words, “push” money to another cardholder. This is the opposite of a pull payment, which enables funds to be pulled from one account and sent to another. In a pull payment, the payee is authorized to collect or “pull” money from another account and move it to their account. In this way, payers are not responsible for moving funds themselves, and they allow payees to take money from their accounts automatically – something that contrasts with push-to-card payments.