Overview
Billing for collectibles is serious business. Super7, a collector toy and apparel company based in San Francisco, doesn’t just sell their premium products directly to consumers. They have also designed, manufactured, and distributed officially licensed programs for major pop-culture brands.
All of these projects require steady and predictable cash flow — a task Ruben Marcias excels at. As an Accounts Receivables Specialist for Super7, Ruben is responsible for billing, cash application, and collections. At the moment, he primarily handles wholesale client purchases and facilitates payments.
Before Ruben joined the team back in August 2021, Super7 had migrated from PayPal to Paystand for a more robust payment solution. And while the company came to Paystand for the tokenization and automation features, they stayed for the payment processing speed and ease of use.
“We basically issue the invoice and the payment processes within minutes for clients who have chosen to save their payment information. We only wait for a day or two when we pre-order certain items,” said Ruben.
Our funds-on-file token allows companies to re-charge previously used payment methods without actually accessing the data itself. All payment information is stored as a token in the Paystand vault, ensuring that the sensitive information remains secure. To further safeguard customer payment information, the Paystand vault is routinely audited by a third party and is certified PCI DSS and SSOE 1086 compliant.
But one of the most significant changes for Super7 came with leveraging Paystand’s Smart LockBox solution. Before the company switched to Paystand, the controller had to go into the office every week, review incoming checks, and take the checks to the bank to deposit them.
However, since setting the Smart LockBox up, receiving check payments has been a cinch.
“We were having trucks of checks sent to our office,” said Ruben. “But with the Smart Lockbox, the check information is just automatically in our system as soon as we receive it, and it can be applied right away.”
The Paystand lockbox solution essentially digitizes the entire workflow, including invoice matching, cash application, and bank reconciliation. As a result, companies like Super7 can take advantage of increased transparency, centralized collections, and fewer cash flow bottlenecks through the Smart Lockbox feature. And as a fully remote solution, these digitized lockboxes are ideal for the new normal.
Customers didn’t mind updating their details when Super7 switched out their office address with the new Smart Lockbox address.
“We now get remittance information from customers who send their checks to that Paystand Lockbox address in just a few days. It’s been great in that regard,” said Ruben.
See It in Action
Paystand’s Smart Lockbox solution is just one way to digitize your accounts receivable workflow, diversify your payment options, and support your talented accounting professionals. After all, less time spent on manual tasks, such as data entry, means more time and energy for higher-value tasks.
Plus, when combined with tokenization and a branded payment portal, it’s possible to receive payments faster than ever.
To see how our lockbox solution really works, book a demo with our AR experts today.
