Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.
Why card monopolies are failing B2B businesses
Feb 19, 2021 by Daniella Bourguetts
If the last couple of years have taught us anything is that change is inevitable. On most occasions, it's impossible to predict global pandemics or the financial implications of profound political changes in the worldwide landscape.
#10: The Journey to Zero
Feb 4, 2021 by Daniella Bourguetts
Editor’s note: Hello, readers. Welcome to the first newsletter of 2021. To kick off the year, we're setting the stage for what it means to create a new financial infrastructure for the B2B industry. It's something we call: The Journey to Zero. Subscribe now.
The Journey to Zero: How Paystand is Changing B2B Payments
Feb 3, 2021 by Daniella Bourguetts
Of the myriad problems facing businesses today, one over-arching challenge dominates all else: the B2B financial system remains essentially unchanged since the middle of the 20th century. At its core exists a fee-based transaction model for payments that no longer meets the needs of modern, digital-first businesses.
All Blog Posts
The Benefits of Digital Payments for B2B Businesses
Nov 3, 2020 by Eduardo Lopez
Businesses typically view the payment experience as just another customer touchpoint, but now shifts in technology have proved that digital payments are bringing a ton of opportunities for businesses to grow faster and more efficiently.
Accounts Receivable Automation with Paystand Drives Capital Efficiency and Lowers Costs for Elenteny Imports
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.
Vegas Here We Come For SuiteWorld 2019!
Mar 11, 2019 by Mark Fisher
SuiteWorld is upon us again and the team at PayStand is excited to announce our sponsorship of this year’s event as an Emerging Partner. Like last year, Oracle NetSuite SuiteWorld will be held in Las Vegas, Nevada, taking place April 1st through April 4th at the Sands Expo and Convention Center. Last year, the event boasted a crowd of over 7,000 attendees and we’re looking forward to meeting even more this year.
PayStand Releases SuiteApp Integration To Extend Best-In-Class Payment Functionality Within NetSuite
Oct 25, 2018 by Mark Fisher
Company Delivers One-Click-Simplicity to Handle Enterprise Cash Cycle SCOTTS VALLEY, Calif. - October 25, 2018 - PayStand, the B2B payment platform for the future of commerce, today announced the next generation of its SuiteApp integration, delivering all-in-one electronic payment functionality within NetSuite for companies of all sizes. North American businesses exchange $18 trillion in paper checks alone each year, costing them over $550 billion in process and delays, while more than half of all commercial payments globally are still paper check. PayStand together with NetSuite gives businesses a next-generation platform that automates the entire enterprise cash cycle.
PayStand Expands Operations to Mexico With New Office
Oct 18, 2018 by Mark Fisher
PayStand Expands Footprint To Further Deliver on the Promise of a Better Global Payments System; Partners With StartupGDL To Drive Regional Economic Development SCOTTS VALLEY, CALIF. AND GUADALAJARA, MEXICO - OCTOBER 18, 2018 - PayStand, the B2B payment platform for the future of commerce, today announced the opening of a new office located in Guadalajara, Mexico. The expansion bolsters PayStand’s continued focus to deliver the most robust digital payment network for businesses and also positions the company to solve significant challenges in global payments by drawing on a diverse and experienced team. North American businesses exchange $18 trillion in paper checks alone each year, costing them over $550 billion in process and delays, while more than half of all commercial payments globally are still paper check.
Incorporating SaaS to offer Payments-as-a-Service
Aug 31, 2018 by Anindya Chanda
Software is changing our world and the way companies operate in it. Shifts in technology and the rise of modern, cloud services have reshaped entire industries. These shifts have created zero-sum situations with a new set of winners, leaving many businesses who did not -- or were unable to -- reinvent themselves on the outside looking in. For every Uber, AirBnb, and Netflix, there are many more local taxi, hotel, and video rental companies who did not embrace new software and services. To remain relevant in today’s rapidly changing business world, it is important to continually review and reimagine your business by taking advantage of the latest developments in technology. In this article we'll discuss Software-as-a-Service (SaaS) and how to incorporate SaaS to offer Payment-as-a-Service.
Simplifying Transactions with Virtual Terminals
Jul 31, 2018 by Anindya Chanda
The end goal of any payment processing system is to offer a convenient way to transfer economic value securely. This is a very important step in any business as customers have to trust the system to buy services or products. With that being said, not all payment systems are the same. Virtual Terminals provide better overall value in comparison with traditional Point of Sale systems. Not only are they easier to use and understand, but also involve easy setup while maintaining flexibility and providing better value for merchants and customers alike.
How PEOs Can Stay Relevant in the Wake of Digital Reformation
May 17, 2017 by Kenzie Earle
Being in the era of the technological revolution, there are expectations to deliver excellence via digital services. Though customer service is prevalent in the success of many companies, the option to utilize software and have a positive user experience on a digital platform has become equally important – and maybe even more relevant. Enterprises seek the ability to reform their business models with the use of digital technologies, the ability to create new revenue streams and innovative ways to connect with their market place. It has become a requirement for the service providers of today to play a part in the impact of the consumer experience, apply automation platforms, and work with those enterprises to collaboratively solve problems and foster growth. As a PEO, there is priceless value in the human element of your services, but that isn’t the end-all in todays day and age. Fortunately, there are a myriad of options in our software rich nation so that you don’t need to succumb to the inefficiencies that manual processing brings with it. In 2013, the PEO industry and health insurance brokers witnessed opposition emerge when HR software made its debut and inaugurated a new and simple concept - purchase your insurance from them, and they will provide the software to handle the HR element of your business. It was a pitch that investors certainly bought into. The business model became so dominant, that at one point, one of the top HR software companies was valued at $4.5 billion within two years of surfacing. So how to does a PEO marry its traditional business model and the digital reformation that has swept the competitive market place? Let’s take a look into becoming a business that offers the service AND the product.
Why Paper Checks Remain the Dominant Method of Payment in the B2B Realm
Apr 20, 2017 by Kenzie Earle
Despite widespread availability and development of digital payment methods, paper checks are still alive and well in the world of Enterprise. The phrase "paperless society" is thrown around without much weight and may have many believing that swipes of plastic, insertion of chip readers and cash transfers at the click of a mouse are the predominate means of paying bills. Where this presumption may be more relevant on a B2C basis, the reality is that in 2016, 97% of companies that participated in a research study are still using paper checks to pay vendors and receive payment from customers. Looking at this from a sheer numbers standpoint, this means that there is $550 Billion stuck in pre-Internet paper, plastic, & manual processes. The Financial Revolution is here, so what is making the paper check so seasonable?