Read about the digital transformation of commercial payments and how to automate your enterprise cash cycle.
The Future of Payments is Here With the Paystand Bank Network
Jan 26, 2023 by Zazil Martinez
A significant indicator of business success is customer satisfaction. Companies can achieve it by listening and attending to their needs. One of these needs is offering different payment methods.
Optimize Your Revenue with a Zero-Fee Payment Strategy
Jan 25, 2023 by Kelsey Banerjee
Credit card processing fees and other transaction costs cut deep into business revenue—in 2021 alone, U.S. merchants paid $137.83 billion in fees. And that’s just for accepting credit card payments.
All Blog Posts
Planning for the Year Ahead
Dec 29, 2022 by Zazil Martinez
2022 is almost over. Are you ready to start 2023 on the right foot? We’re navigating that time limbo between Holidays when some things might slip away — important things among them. And in the AR department, that just can’t happen.
Improve Your Collections With Recurring Payments
Nov 17, 2022 by Zazil Martinez
Managing customer collections is not always easy, and there is often no protocol for consistent control in this aspect. One of the main problems of not having a clear collection strategy in the company is late payments. Around 20% of customers are late in their payments or do not pay their debt, significantly reducing the company's gross income.
7 Benefits of a Merchant Account
Nov 15, 2022 by Kelsey Banerjee
Today, businesses need to accept more than cash, checks, or a customer's debit card. Even credit card payments are getting left behind with the seamless processing of ACH and bank-to-bank transfers. But to leverage these options, a small business owner needs to invest in a merchant account.
The Guide to Payment Terms (and How to Optimize Them)
Nov 11, 2022 by Kelsey Banerjee
Payment terms define when you get paid—at least regarding accounts receivable (AR). For accounts payable, payment terms usually refer to paying vendors and suppliers.
Which of These Common Mistakes in the Credit and Collections Area are You Making?
Oct 27, 2022 by Zazil Martinez
While collections is a complicated area in which we frequently run into obstacles, such as delinquent customers that slow down the corresponding processes within our company, there are several internal mistakes that we are probably making in the administrative area that affect financial liquidity.
Good Habits to Keep Delinquencies Low
Oct 20, 2022 by Zazil Martinez
No matter the size or line of your business, one of the most significant and frequent problems you will, unfortunately, have to face on one or more occasions is delinquent clients. Did you know that just one client's delinquency is enough to destabilize liquidity, limit solvency, hinder the ability to continue work, and prevent your company from meeting fiscal and administrative responsibilities?
The Ins and Outs of Invoicing
Sep 22, 2022 by Sage Thee
Invoicing is an inevitable part of running a business — you need your customers, clients, and vendors to pay you, and you need to give them all the information they need to do so. Enter invoicing.
The Billing Cycle Guide
Sep 14, 2022 by Kelsey Banerjee
Billing is the backbone of a business. Without regular cash flow, transactions can come to a halt, so having a sound billing strategy is essential for success. And one of the most important decisions you’ll make when strategizing is your billing cycle.
Leverage Cloud Accounting to Thrive in a Recession
Aug 12, 2022 by Brandon Jones
The pandemic proved the importance of cloud accounting. Companies that prioritize adopting the cloud have the ability to seamlessly shift to remote work and keep their accounting function running perfectly even when employees aren’t in the office.
5 Methods You Can Use to Reduce Late Payments
Jun 22, 2022 by Julia Duarte
In any industry, maintaining a steady cash flow is essential to running a business. When a company receives consistently late payments, day-to-day operations and overall progress slows down. By understanding why your customers are paying late, you can take steps to create an actionable plan to reduce your number of late payments and thrive as a business.