Overview
Telecommunications giant Motorola had a problem with payments. As a multinational company with dozens of products, the Motorola finance team spent hours every week laboring over invoice processing.
Despite having a digitized solution and working with Authorize.net, the organization found itself struggling with payment returns due to the highly manual processes. At the same time, the traditional way of verifying customer balances was insufficient, leading to a large number of returns due to insufficient customer balances.
So when Motorola decided to migrate to NetSuite for their accounting teams, the organization decided it needed to further optimize its new software. While this powerful ERP helped to streamline the process, the finance team was still uploading payments by hand, often creating delays within their system.
What the Motorola finance team needed was an automation system that also supported payment self-service for customers.
Transition to More Efficient Payments
To solve these challenges, Motorola decided to work with Paystand. Not just because the payments platform offered everything that Motorola needed, but the automation integration also had a favorable fee structure.
“We did a cost comparison between Paystand and three other competitors, and we found Paystand to be about 10% more affordable,” says Sophia.
But Paystand also provided a number of specific features that Motorola needed to process payments effectively. For example, the organization processed payments differently for customers and contractors, meaning they would need two separate systems within the same platform. They also wanted a payment gateway so customers could easily submit payments on their own.
“Since working with Paystand, we’ve saved almost 20 hours of work a week,” says Sophia.
Paystand enhanced analytics have also provided value. Since working with Paystand, Motorola has been able to lower its aging rate.
“Being able to see payments process in real-time has had such a big effect on our day-to-day operations,” says Sophia. “We can collect so much better.”
In addition, training has been fairly easy for the entire team. It takes only about 15-30 minutes to introduce and train members to use the Paystand integration, with most of that time focused on the NetSuite side of the program.
The icing on the cake? Motorola has saved 16% on processing fees from the previous year, and it has been able to reinvest that revenue in its affiliates.
But what stands out isn’t just the cost and time savings.
“What really made us fall in love with Paystand was the customer service,” says Sophia. “Their response time is amazing and the team is so easy to work with.”
See It in Action
Paystand’s seamless AR automation integration for NetSuite is ideal for any company looking to streamline its payments operations. Not only can you provide a superior customer experience, but you can support your talented accounting team, improve cash flow, and reduce processing costs.
To see how our integration really works, book a demo with our AR experts today.
