ACCOUNTS RECEIVABLES
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Company
Paystand is revolutionizing B2B payments with a modern infrastructure built as a SaaS on the blockchain, enabling faster, cheaper, and more secure business transactions.
Our mission is to reboot commercial finance by creating an open financial system.
Payments as a ServiceWhere We Operate
United states
Paystand is headquartered in California and operates nationwide, serving businesses across all 50 states.canada
We support operations in Canada with localized payment capabilities, including CAD EFT and cross-border support.
How Copper Cut Month-End Close From 14 Days to 3-4 Days
Copper used Teampay by Paystand to simplify employee spend, automate approvals, and give finance real-time control across cards, vendors, and NetSuite workflows.
Headquarters
San Francisco, CA
Industry
Software
Copper
Challenge
Copper's finance team needed a better way to manage employee purchases, receipts, coding, and reconciliation. Month-end close was taking the better part of two weeks, physical cards were hard to control, and finance was spending too much time hunting down information after spend had already happened.
Solution
Teampay by Paystand gave Copper automated approval workflows, Slack-based purchase requests, controlled virtual cards, and a NetSuite integration that helped finance move expense data into the books with less manual follow-up.
Testimonials
"We cut Teampay, we hire another accountant — tenfold more expensive."
Senior Revenue Analyst
Challenges Faced by Copper
- Month-end close took the better part of two weeks because finance had to chase receipts, code transactions, and reconcile card activity manually.
- Physical cards made it difficult to see who owned spend, which vendors were charging the business, and whether purchases followed policy.
- Employees were unsure whether to ask managers or finance for approval, creating ambiguity before purchases happened and follow-up work after the fact.
- Copper was growing, operating across three subsidiaries, and moving to NetSuite, making it the right moment to modernize expense workflows.
- The finance team needed more time for strategic work during a period of economic uncertainty, not more time spent cleaning up card activity.
Solutions Implemented with Paystand
- Faster close: Copper reduced month-end close from about 14 days to 3-4 days by simplifying reconciliation and matching Teampay transactions with NetSuite expenses.
- Stronger spend control: Automated approval workflows helped Copper define spend guidelines before purchases happened and remove ambiguity for employees.
- Less physical-card risk: Copper replaced shared and physical card usage with unique virtual cards, giving employees a simple way to buy what they needed while preserving finance visibility.
- Better vendor management: With vendor contracts tied to individual Teampay cards, Copper could cancel or adjust cards without disrupting unrelated subscriptions.
- Prevented out-of-policy spend: Teampay helped Copper prevent $13K in out-of-policy spend in 2022.
- More leverage for a lean finance team: Instead of hiring another accountant to manage manual expense work, Copper used Teampay as a cost-effective extension of the finance team.
