Paystand Blog

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

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5 Financial Resolutions to Kickstart the New Year

Dec 6, 2023 by Zazil Martinez

Discover the essentials to thrive in the new year. From streamlining expenses to embracing digital payments, we provide actionable steps for success. Join us in securing a resilient financial future.

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Learning from Silicon Valley Bank's 2023 Mistakes

Nov 30, 2023 by Zazil Martinez

In the fast-paced world of finance, Silicon Valley Bank's collapse in 2023 sent shockwaves through the industry. In this retrospective, we will examine what caused the downfall, how it affected things, and what we can learn.

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7 Expert Invoicing Tips That Can Help You Get Paid Faster

Nov 28, 2023 by Zazil Martinez

Gear up for year-end by accelerating your invoice payments. Go digital with electronic invoices, automate collections, and offer early payment perks. Save time and improve cash flow with these expert tips.

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5 Financial Resolutions to Kickstart the New Year

Dec 6, 2023 by Zazil Martinez

Discover the essentials to thrive in the new year. From streamlining expenses to embracing digital payments, we provide actionable steps for success. Join us in securing a resilient financial future.

Read More

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.

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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.

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4 Common Accounts Receivable Challenges & How to Solve Them

Sep 13, 2023 by Zazil Martinez

Overdue invoices can impede cash flow and growth opportunities. Common 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.

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Optimize Your Revenue with a Zero-Fee Payment Strategy

Sep 4, 2023 by Zazil Martinez

In 2022, U.S. businesses paid a staggering $160 billion in credit card processing and transaction fees. To boost revenue in 2023, accounts receivables professionals need to cut these costs. Discover how you can save money and optimize your accounts receivable strategy.

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5 Methods You Can Use to Reduce Late Payments

Aug 30, 2023 by Kelsey Banerjee

Maintaining a steady cash flow is essential to running a business, but keeping a steady revenue stream is more challenging than it sounds. According to a PYMNTS report, 93% of companies experience late payments. Payment delays pressure the accounts receivable (AR) team and accounts payable (AP). Delayed payment can mean straining vendor relationships, missing out on an early payment discount, and weak cash flow. In other words, when a company receives late payments consistently, day-to-day operations and overall progress slow down. But you can avoid a potential overdue payment and bad debt in the first place. Healthy cash flow boils down to streamlining your process, starting with your customers. By understanding why your customers are paying late, you can take steps to create an actionable plan to reduce late payments and thrive as a business. Here are 5 easy-to-implement methods, including automation, to limit late payments from your customers.

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Power Up Your AR with Dynamic Discounting

Aug 23, 2023 by Daniel Escudero

In today's fast-paced business environment, cash flow is king. At Paystand, we understand this and offer a revolutionary tool called Dynamic Discounting. This tool empowers accounts receivables teams to optimize their cash cycles by incentivizing early payments. More than just a service, it's a game-changer for AR teams.

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Overcoming Payment Digitization Challenges

Aug 16, 2023 by Zazil Martinez

In an era where technology reshapes everyday activities, a profound transformation in financial transactions is no surprise. Traditional payment methods relied heavily on cash and paper-based processes but gave way to a new digital frontier. This wave of digitization brings countless opportunities, yet it has its share of challenges. Payment digitization challenges stem from internal and external pressures, and with the B2B payments landscape shifting, organizations need help to adapt. The last thing a CFO wants is to invest in new digital solutions and train the team, only for their new software to shut down or change to another within a year. As we embark into the digital finance era, we face questions demanding thoughtful consideration and strategic planning. How do we ensure the security and privacy of sensitive financial data in an increasingly interconnected world? What measures must be taken to bridge the gap between tech-savvy individuals and those still adapting to digital platforms? How can businesses and financial institutions collaborate to create a seamless payment ecosystem? This article will cover some of the biggest challenges of payment digitization today and how to overcome them.

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Top Accounts Receivable Challenges for 2023

Jul 28, 2023 by Zazil Martinez

Managing accounts receivable (AR) has become increasingly complex. Cash flow is critical, and manual processing and traditional payment methods slow down AR departments. Businesses must embrace a modern approach to AR management. Embracing these changes –like automation– will enhance financial efficiency and position businesses for sustainable growth in the digital era.

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How Reducing Your DSO Can Solve Cash Flow Woes

Jul 17, 2023 by Kelsey Banerjee

DSO measures the time it takes to receive revenue. A low DSO indicates prompt payments, and a high DSO suggests payment delays. Understanding DSO and comparing it to industry benchmarks is vital for financial decisions.

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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