Paystand Blog

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

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Paystand vs. Stripe: Cut Your B2B Payment Costs, Boost Efficiency

Apr 18, 2024 by Zazil Martinez

Finance leaders always look for smart ways to streamline operations and reduce costs. In B2B transactions, payment processing represents a significant, often under-analyzed expense that can unlock substantial savings.

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Will Bitcoin Mining Still Be Worth It After The 2024 Halving?

Apr 17, 2024 by Humberto Aguilar

This article was written as a special piece by Humberto Aguilar, Paystand's Director of Engineering in Engineering Operations.

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Paystand Brings Full Payments Integration to Microsoft Business Central, Including NAV, GP and AX

Apr 16, 2024 by Daniel Escudero

This article was originally posted on businesswire.com Company expands ISV Partnerships, adding ERP Connect Consulting SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Paystand, the global leader in B2B payments, today announced it has brought full payments integration to Microsoft Dynamics 365 Business Central. In addition Paystand will support Dynamics NAV, GP, AX, and Dynamics 365 Finance. It has also established a partnership with independent software vendor ERP Connect Consulting (ERPCC) to jointly provide customers with access to ERPCC’s Financial Dashboard and Invoice & Statement Delivery. The enhanced tools and partnership were announced at Directions North America, the Microsoft Dynamics 365 conference for independent software vendors and partners in San Diego, April 14-17. Paystand will demonstrate the integrated suite at Premier Sponsor Kiosk G314 and Expo Kiosk Gold 13 at the Sheraton San Diego Hotel and Marina, highlighting the integration with Dynamics 365 Business Central and now Dynamics NAV, GP, AX, and Dynamics 365 Finance. Paystand’s tools boost A/R efficiency through automation and incentivize payers to change their financial behavior, enabling earlier, more profitable payments for finance departments. CFOs using Business Central can leverage Paystand’s unique fee-less B2B payment platform and tools to move to a fully digital payments flow, including full reconciliation automation and a bank-to-bank payment network that eliminates card fees. “Microsoft Dynamics 365 Business Central customers deserve the savings offered by ERP automation,” said Max Robbins, Vice President, Partnerships, Paystand. “Our payment systems provide those customers with additional savings by incorporating manual A/R tasks into a seamless digital payments flow that brings revenue in faster with zero fees or intermediaries. Additionally, our partnership with ERPCC gives our Business Central Paystand users valuable tools and insights that can speed time to cash and decrease DSO.” “When we discovered the functionality and value proposition offered by Paystand, we knew it was a tool that not only could be used day-to-day internally but also had the potential to greatly benefit our client base,” said Ben Cole, President ERP Connect Consulting. “Partnering with Paystand is a natural fit for us – we can bring these innovative solutions to our clients, empowering them to streamline their AR payment processing and elevate their business operations to new heights.” He noted that two key features of Paystand particularly stood out. First, the embedded nature of the app seamlessly integrates with the existing Business Central system, enhancing efficiency and increasing ease of use for all users. Second, the diverse range of payment options available via the Paystand payment link within invoices provides clients with the flexibility and convenience of accepting all forms of payments from their customers. This feature helps decrease payment friction and ultimately helps clients get paid faster. Delivered as a native integration to Microsoft Dynamics 365 Business Central, Paystand’s technology accesses Paystand’s Bank-to-Bank Network – the only zero-fee, real-time payment rail available for business, unlocks Paystand’s profitability behavior model, and creates smart invoices with embedded payment options. Paystand first unveiled its partnership with Microsoft in October 2023, expanding the reach of its Payments-as-a-Service model to Business Central customers everywhere.

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5 Easy AR Automations Your Company Needs

Nov 23, 2021 by Brandon Jones

AR automation simplifies an accountant’s job by taking the most monotonous and repetitive parts of accounting off your schedule. Find out more about AR automation and the five most important automations you should already have. Just want the ebook? Click here.

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Get Your Hands Off Your AR Process

Oct 19, 2021 by Kelsey Banerjee

For people on the outside looking in, accounts receivable (AR) processes appear deceptively simple. After all, isn't it just accepting payments? What's better than handling payments?

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How to Automate B2B Payments

Jul 6, 2021 by Daniella Bourguetts

Progressive companies have been investing in Accounts Receivables automation to achieve sustainable growth and optimize their team's most valuable resource: time. As advanced as some ERPs are, they don't automate many of AR's manual processes associated with payments like reconciliation, mailing invoices, and processing paper check payments. Automating these manual and arduous tasks allows an AR team to focus on more impactful and strategic issues that add greater value to the organization. In 2019, a study conducted by Mastercard and PYMTS titled "B2B Payment Automation Innovation Playbook" stated that 74% of companies haven't yet adopted payment automation but plan to do so by 2022. In a more recent 2021 study, these numbers increased to 76% of respondents wanted to automate banking activities and 80% of respondents planned to automate their payments and reconciliation processes. Though payment automation has been focused on cost-saving and efficiency, the pandemic has highlighted the need to manage their AR processes remotely plus build a scalable payment process that facilitates the evolution from legacy (paper checks, cash, etc) to digital payments. In this blog, we will demonstrate how evolving your payment strategy with B2B payments automation can be the key ingredient for growth and embracing the benefits of digital payments. After all, it took a relatively short time for consumers to adopt digital payment apps like Paypal and Venmo. We can be confident that the business payment evolution won't be far behind the consumer's shift away from paper payments. How automation puts your finance team on path to success At Paystand, we sometimes hear from companies hesitant to change to an automated payment system. It's difficult to change when some people have used the same processes for many years that have "worked". Thankfully with some coaching these same people understand that change is inevitable and companies either evolve or else. While new payment technologies aren't revolutionary, using paper checks and credit cards and their associated fees can and will consume resources for those unwilling to change. Those companies who continue to resist the shift toward digital payments will be at the mercy of card networks and their tendencies to increasingly raise processing fees. Besides the cost and efficiency savings involved in this new digital payment paradigm, there's the benefit of quickly accessing all AR data in one integrated system plus there's no more waiting for the post office to deliver the mail or in the rare case, tracking down a lost envelope. In summary, the benefits of B2B payment automation are:

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Why CFOs are Betting on AR Automation for Survival

Mar 17, 2021 by Mark Fisher

For most CFOs, the COVID-19 crises caused a shift in priorities, leaning towards employee safety and cutting down expenses to survive the unexpected economic shock that unfolded. In this environment, Accounts Receivable automation became more than wishful thinking and turned imperative for continuing operations in remote situations. But more broadly, last year's events ushered in an acceleration of digital transformation across the Finance organization in companies of all sizes.

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Leadventure: Automating AR with Paystand for Sustained Growth

Jan 28, 2021 by Daniella Bourguetts

Leadventure is a SaaS website provider of digital marketing services for dealerships, OEMs, and resellers across 13 verticals, operating multiple subsidiaries that provide solutions to drive leads and in-store sales. With over 28,000 clients and services that range from website management to marketing tools and eCatalogs, LeadVenture has formed relationships with some of the largest manufacturers in the industry.

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Reasons to Consider an AR Automation Tool in 2021

Dec 15, 2020 by Daniella Bourguetts

For most CFOs, the COVID-19 crises caused a shift in priorities, leaning towards employee safety, and cutting down expenses in order to survive the unexpected economic shock that unfolded. In this environment, the careful planning and demands of building a budget for 2021 became more than routine exercise. Instead, it became a strategic imperative.

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Automated Accounts Receivable Solutions

Dec 3, 2020 by Daniella Bourguetts

Accounts Receivable Management is the cornerstone of a steady and healthy cashflow, keeping your business in a better position to drive growth, operate better, and optimize your team's time and resources.

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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.

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4 Accounts Receivable Processes Controller Should Automate

Sep 17, 2019 by Eduardo Lopez

Today’s world is highly automated, from the sales email in your inbox to the money that gets deposited in your bank account every two weeks. Across every function from marketing to sales to HR and Support, automation has become a key to success. Now it’s time for finance teams to benefit from the cost savings, profit, and productivity that only automation can deliver.

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Accounts Receivable Automation with Paystand

Apr 2, 2019 by Mark Fisher

Here at Paystand, we pride ourselves on being the most flexible B2B payment platform available for growing businesses. When we engage with a new customer, our goal is to help the business automate manual processes and digitize their enterprise cash cycle in a flexible, customizable way.

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"Since working with Paystand, we’ve saved almost 20 hours of work a week."

See how Motorola reduced costs by 16%.
SOFIA MITCHELL

Accounting Analyst

"Real-time updates and analytics have made it easier to forecast and budget cash flow."

See how Thumbtack reduced their DSO by 40%
CHAD BELLO

Revenue Accounting Manager

“We found Paystand so easy to use; their embedded payment links in our invoices are simple for customers. Our clients and vendors are no longer confused at the critical moment when they’re ready to pay.”

See how Allterra reduced their costs by 51%
JAMES ALLEN

CEO

"Paystand allows us to free up resources, reduce costs, and expedite payments with real-time posting of transactions. It gives us the ability to grow with confidence that our AR process is equipped to handle the pace of our business."

See how Covetrus decreased 98% in Per-Transaction Fees
KRISTEN PARISIEN

Controller, Global Prescription Management

“The Paystand platform has done exactly what we expected it to do. We’re thrilled that the results aligned with our expectations. We’re operating as a well-oiled machine.”

See how Choozle decreased 50% in late receivables
AJ HEFFERNAN

Director of Finance & Operations

“It’s almost creepy how easy Paystand makes my job. It’s unbelievable how automated it is. It’s been an even better experience than we anticipated. . . We just fully trust Paystand.”

See how Edgewood decreased 60% in transaction fees
JOHN DYBWAD

Vice President of Finance & Budget