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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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.
Paystand Recognized for Best Use of Blockchain in Benzinga Global Fintech 250
Nov 10, 2020 by Mark Fisher
B2B payments leader recognized as Blockchain payments pioneer; named a Benzinga Fintech Listmaker as payment network crosses 160,000 businesses.
Paystand Surpasses 1000% Growth, Selected To 2020 Inc. 5000 List
Aug 20, 2020 by Mark Fisher
B2B payments leader selected to Inc. 5000 list as top 10 fastest growing private company in Silicon Valley; payment network crosses 140,000 businesses.
Why Paystand Raised $20M to Fix Commercial Payments
Feb 7, 2020 by Jeremy Almond
Today is a big day for Paystand: We closed a $20 million Series B investment round from the same venture teams that invested in Coinbase, Gusto, Intacct, Coupa, PayPal, Avalara, and many others. We’d like to welcome DNX Ventures, Battery Ventures, Epic Ventures, Commerce Ventures, and Wildcat Ventures as new investors, as well as welcome Roman Leal from Leap Global Partners as our newest board member.
100,000 Thanks and A Look At Our Fintech Advisory Council
Oct 10, 2019 by Mark Fisher
Our mission at Paystand is pretty straight-forward (but certainly not easy): reboot the broken financial system. Since we started chipping away at this audacious goal nearly 5 years ago, we've built truly innovative technology, forged deep customer relationships, and most importantly, started a movement toward a more open financial system that provides businesses with greater control over their capital. Today, we’ve got a few updates on how we’ve been delivering against that mission. Since raising our Series A, we’ve quickly become the fastest growing commercial payments platform. Over 100,000 businesses are now paying through the Paystand Bank Network, eliminating millions of dollars in transaction fees.
Building #OpenIndustry: The Story Behind Paystand’s New Logo
Jul 18, 2019 by Mark Fisher
Today we’re unveiling a big update to the look and feel of the Paystand brand. Our new logo marks a significant change in our company evolution and is the result of a comprehensive exploration of our brand. It gave us an opportunity to look deeply at who we are, what we stand for, and where we’re headed as a company.
Paystand Hires Former Tipalti Chief Revenue Officer to Lead Sales
Jun 21, 2019 by Mark Fisher
Payments-as-a-Service leader adds former Tipalti senior executive to spearhead sales and drive another year of explosive growth. SCOTTS VALLEY, Calif., June 20, 2019 — Paystand, the digital B2B payment network for the future of commercial finance, today announced Mark Hassin as its new Senior Vice President of Sales.
Paystand Announces Automated Receivables Product to Further Streamline Enterprise Payments
Apr 10, 2019 by Mark Fisher
Collections Automation Product Goes Far Beyond Simple Email Contact, Using Blockchain Technology to Maximize Employee Time and Streamline the Payments Process
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.
The Inside Story behind our Series A Funding
Nov 20, 2017 by Jeremy Almond
We recently announced a $6M Series A round led by BlueRun Ventures with participation from Cervin Ventures, Serra Ventures, TiE, LEAP Global Partners and Capital for Founders. You can read the full press release here. Alongside the funding we also are announcing a new free product line in beta called AP. Read on to get the insider take on why we raised the capital, why we are building AP, and what's in store for the future at Paystand.