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Streamline your accounts receivable process and get paid faster by automating your collections. Paystand's Collections Automation solution reduces manual tasks, minimizes errors, and improves your cash flow.

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Save on Fees While Speeding Up Collections

Why sacrifice margins just to get paid? With Paystand, you combine accounts receivable automation workflows with zero-fee payment rails, giving your customers more ways to pay, while improving your bottom line.

  • Accept B2B payments via ACH, RTP, and the Paystand Network
  • Embed instant pay links to drive faster collections
  • Reduce credit card dependency and improve b2b payment collections software automation ROI

Explore How To Master AR Collection Automation >>

Build a smarter AR organization with the power of automation

Features That Work for Your Business

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Automated collections software

Remove friction and reduce manual effort in your collections process with a fully automated collections suite.

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Flexible integrations

Embed digital payment capabilities directly within your communications and invoices for more impactful and faster collections.

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Real savings

Benefit from immediate bottom-line impact through quicker time-to-cash from collections efficiency.

CASE STUDY

Double Your Payment Efficiency

Penntek Coatings, a leader in floor coatings manufacturing and distribution, faced challenges with manual check processing, high credit card fees, and month-end discrepancies. By implementing Paystand's Collections Automation, they achieved:

  • A 58% increase in annual transaction volume
  • A 35% reduction in credit card transactions
  • Savings of $65,300 in transaction costs within six months

This transformation not only streamlined their accounts receivable process but also enhanced their overall cash flow management and customer satisfaction.

All of your receivables in one place

Watch How Automated AR Collection Transforms Your Bottom Line

Still managing receivables manually? This 2-minute video shows how Paystand’s collections automation software eliminates friction from your AR process. See how you can drive faster collections, reduce costs, and modernize your accounts receivable management with end-to-end automation.

Testimonials

“Paystand’s digital payment solution has saved us money and improved our customer experience. It's been a game-changer for our operations.”

Bob Thonet

CFO

Connect Any ERP to Paystand

The future of financial operations is a world without manual operations and payments without a processing fee. We've brought the future to you today.

  • Zero Fees: We saved our customers over $1B on fees by nudging their payers toward more profitable payment methods.
  • Zero Time: Experience lightning-fast next-day payments. Get your money faster and create a healthy cash flow. 
  • Zero Touch: Revolutionize your accounts receivable by automating and streamlining all your back-end processes.

Learn more about Paystand Integrations >>

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Frequently Asked Questions

1. What is collections automation?

Collections automation means using software to streamline and manage the accounts receivable process—automatically sending customers invoices, follow-ups, reminders, and payment links. With Paystand, collections automation eliminates manual effort, reduces human error, and accelerates time-to-cash through intelligent workflows and digital payments.

2. Why should I automate the process of collecting accounts receivable?

Manual collections are slow, costly, and prone to errors. Automating your AR process with Paystand helps reduce days sales outstanding (DSO), lower operating costs, and free up your finance team for more strategic work. It also ensures consistent communication and gives customers a more straightforward, faster way to pay, leading to fewer delays and better cash flow.

3. How long does it take to implement Paystand’s collections automation?

Most customers are up and running within a few weeks. Our implementation team works closely with your business to configure workflows, connect your ERP, and customize payment options, ensuring a smooth and efficient rollout tailored to your AR needs.

4. How does collections automation improve the customer experience?

Automated collections provide a more seamless and professional experience for your customers. Instead of chasing down invoices, they receive timely, consistent reminders and have access to a self-service portal where they can easily view, manage, and pay invoices. Autopay options and digital payment methods also reduce friction and build trust.

5. What are the best ways to avoid late payments from customers?

The most effective approach is to combine proactive communication with innovative technology. Automating your invoicing and reminders, offering digital payment options, and enabling features like autopay or early payment incentives can significantly reduce late payments. Paystand helps shift payer behavior by making it easy and rewarding to pay on time.

Save over 50% on the cost of receivables.

Remove the friction and expense of monthly collections and give your customers a better payment experience. 

Break free from legacy AR and payments. Discover how you can:

  • Accelerate time-to-cash cycle and reduce DSO by 62%
  • Automate 70% of your invoicing and AR tasks
  • Eliminate 51% of your payment processing costs

Talk to our team today to estimate an entirely automated collections experience. 

Request a demo to get started