Paystand Blog

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

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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.

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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.

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Payment Failure | B2B Finance Glossary

Sep 21, 2023 by Zazil Martinez

What is a Payment Failure? A payment failure is when a payment being made from one party to another doesn’t go through. Payments can fail for many different reasons. While many payment failures result in the loss of legitimate business, some payment failures are for a good reason and actually work to minimize the possibility of fraudulent transactions.

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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 to limit late payments from your customers.

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8 Best Practices for Invoicing Clients

Aug 18, 2023 by Zazil Martinez

For B2B businesses, efficient invoicing practices are essential. They impact the business's financial health and client relationships. But invoicing is more than just a routine process. It represents the backbone of cash flow and the basis for trust and transparency in every transaction.

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Making the Switch: Why You Should Use Virtual Corporate Expense Cards

Jul 24, 2023 by Daniel Escudero

Managing corporate expenses effectively can be a daunting task, especially in a fast-paced world where businesses need to cope with rapid technological advancements. Accounting and finance teams have been relying on traditional credit cards to streamline the process of expense management, but it is time to move on to something better.

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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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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.

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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.

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The First Three Things to Do When Faced with a Chargeback

Jun 14, 2023 by Zazil Martinez

Whether due to stolen credit cards or customer dissatisfaction, chargebacks are a reality that merchants face. But understanding how they work and knowing how to respond when confronted with one can ease the process.

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What is Cash Application and Why Is It Important?

May 23, 2023 by Kelsey Banerjee

Cash application is critical for the success of commercial transactions, but it can be complex in B2B exchanges. Transaction delays, invoice matching, and manual processes create challenges. This article explores the complexities of cash application and discusses solutions for streamlining the process.

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Setting Up Custom Invoice Workflows in Sage Intacct

May 10, 2023 by Zazil Martinez

Are you looking for ways to streamline your accounts receivable processes and save time for your team? Let us guide you through setting up a custom invoice workflow on Sage Intacct using the Paystand integration. From mapping out your ideal workflow to generating reports, we'll cover all the steps necessary to start.

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The Advantages of Digital Lockboxes

Apr 21, 2023 by Zazil Martinez

Traditional lockbox services are no longer sufficient for many businesses in today's digital age. Inefficient and prone to payment delays, paper check processing costs can significantly impact the revenue of B2B companies.

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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