Overview
Eden Equipment offers the highest quality and longest-life US-manufactured filtration solutions. Their systems provide clean air, water, and other liquids on a reliable, sustainable basis that is safe and profitable for their customers. From industrial filtration to pool/spa filtration, Eden is known globally for their quality products and excellent customer service.
"We needed something frictionless and seamless and exceptional customer support.
We needed to find a solution to free up the team so they could do more for the company."
Eden Equipment has grown substantially in the last two decades, but its mission to provide its customers with the best products and services has remained unchanged. Having built its first industrial filter vessel in 1978, this innovative, then California-based company was the first to produce a filtration system made of fiberglass-reinforced plastic. But this kind of growth comes with challenges for a team that runs lean and mean.
"If someone paid by credit card, I would have to try to find the fee in our month-end statement and guess at applying it to the correct invoice...
They were often missed, which meant I lost revenue."
Now, Paystand automatically adds transaction fees based on how a customer pays, creating a line item for credit card fees and reconciling directly to the GL. Eden no longer has to try to find out the customers' bank or credit card info to match a fee to an invoice - that's all handled automatically. This saves the team countless hours and errors and allows for more accurate data for cash flow analysis.
Before Paystand
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After
Paystand
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- Confusing customer payment experience
- High aged receivables
- Many outstanding invoices
- 10 minutes per payment entry
- Manual deposit process
- Manually adding convenience fees
- Lengthy reconciliation process
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- Easy/clear customer payment experience
- 15% decrease in aged receivables
- Decreased aged receivables
- Real-time payment sync to ERP
- Automated deposits
- Convenience fees added automatically
- Streamlined reconciliation process
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Previously, they weren't able to add multiple invoices to an email. Each invoice was attached manually to an email for payment. Customers are much happier and pay faster now that they can click into each statement and see what payments are missing.
"We love giving our customers multiple payment options - it's been really helpful for them and decreased workload and stress for us."
With Paystand, the transaction amount picked up, allowing them to process payments faster. They've been able to focus more on pre-payments, recording them directly in the system when a customer pays as bank deposit receipts are automatically created. This helped streamline many tedious day-to-day steps and made the closing periods faster, without check entries or manually coding in credit card fees that weren't applied via a script. This saved 30 minutes daily, about 11 hours/month.
Feeless. Scalable. Automated. That's the power of Paystand. Book a demo with our AR experts today to see how effortless B2B payments can be.
