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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What is an ACH Payment?
Aug 1, 2023 by Zazil Martinez
Since the early 1970s, the Automated Clearing House (ACH) network has revolutionized payment processes, offering an alternative to credit, checks, or cash. With fast payment processing, lower fees, and enhanced security, ACH is the go-to choice for countless businesses. If you're ready to streamline your finances for the digital age, read on to uncover the full potential of ACH payments.
Unlock the Power of WooCommerce: Email Invoices with Pay Now Link
Jul 14, 2023 by Zazil Martinez
Discover how to optimize WooCommerce's WordPress extension to improve your eCommerce functionality. Learn how to generate invoices, email them with payment links, and enable customers to make online payments in this practical guide.
6 Must-Know Digital Payment Trends for 2023
Jul 11, 2023 by Kelsey Banerjee
Digital payment trends are continually shifting and growing to meet market needs and demands. What we predicted for the pre-pandemic market now differs from the needs of a world handling an uncertain economy, geopolitical upheaval, and continuing supply chain disruptions. Staying on top of whatever is in demand in a constantly changing market is crucial. You must watch the horizon and prepare for what is coming next. Unfortunately, uncertainty permeates every industry. And this also makes it impossible to know what will happen over the coming year. But, it is possible to look back over the past year and see some of the growing trends and habits that are on track to making big waves in 2023.
3 Steps to Digitize Your Enterprise Cash Cycle
Jun 27, 2023 by Kelsey Banerjee
Digitizing the enterprise cash cycle is a complex undertaking. Some companies dodge it entirely to avoid losing customers or incurring operational expenses. Others try digitization to save time and reduce costs but regularly miss the mark. This three-part post will look at the enterprise cash cycle and what it means to modernize your business payments truly.
The Future Beyond Credit Card Fees
Jun 22, 2023 by Zazil Martinez
Credit card processing fees can significantly impact profits in today's highly competitive markets. With struggling economy challenges and the need to attract skilled professionals, businesses are shrinking their profit margins. It's time to move beyond credit cards and explore alternative payment methods.
Supercharging your Sage Intacct Invoice-to-Cash Cycle with Paystand
Jun 17, 2023 by Zazil Martinez
The invoice-to-cash cycle is vital for businesses, but it can be time-consuming. This cycle affects cash flow, working capital, and efficiency, and any disruption can lead to late payments and cash flow issues.
Benefits of Splitting and Passing Credit Card Fees
Jun 16, 2023 by Zazil Martinez
If you're a B2B company heavily reliant on credit card payments, you understand the impact of fees on your revenue. By passing on or splitting credit card fees with your customers, you can cover this cost while minimizing the impact on your bottom line.
Why Card Monopolies are Failing B2B Businesses
Jun 8, 2023 by Zazil Martinez
Credit card fees can significantly impact businesses, especially those with high transaction volumes. Passing the fees on to consumers increases costs while absorbing them reduces profit margins. It's time to rethink outdated credit card processes.
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.
The 6 Benefits of Real-Time Payments for You and Your Clients
May 30, 2023 by Kelsey Banerjee
Introducing the world of real-time payments, where speed, efficiency, and cost-effectiveness revolutionize business transactions. With instant processing and minimal fees, real-time payments offer seamless experiences in B2B transactions.