Paystand has brought its automated payment solution to Acumatica, an all-in-one cloud-based ERP system for business management that includes finance, inventory, CRM, and payroll. Now, finance departments using Acumatica can accelerate AR processes to reduce days sales outstanding (DSO) and speed time-to-cash, all with zero transaction fees.
Acumatica users, who across multiple industries from construction to distribution and retail, will be able to fully leverage digital finance and automation as part of a modern Payments-as-a-Service model. Finance departments looking to move away from antiquated, expensive payment methods that delay settlement can use Paystand tools to incentivise customers to change financial behaviours including earlier payment. Additionally, AR staff can utilise full reconciliation automation and feeless bank-to-bank payment options that eliminate card fees.
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Users to take advantage of multiple time-saving tools and processes
Jeremy Almond, CEO and co-founder, Paystand, said: “Many SMB finance AR departments are still stuck in a time-consuming and error-prone manual accounting mode where spreadsheets must be reconciled and emails are sent independently of the ERP system, creating tracking headaches. With the new Acumatica integration, accounting teams can achieve accelerated payments, synchronise payment data and achieve more efficiency that serve to increase margins and operational cash flow.”
Paystand’s Acumatica native integration allows users to take advantage of multiple time-saving tools and processes. It enables access to Paystand’s Bank-to-Bank Network, a zero-fee, real-time payment rail available for business. It unlocks Paystand’s profitability behaviour model and it creates smart invoices and flexible email templates with embedded payment options that incentivise customers and to make earlier payments, while sending them through the Paystand Checkout experience
The Paystand Checkout experience allows payers to choose payments via the zero-fee Paystand Bank Networks, via ACH or credit card. Acumatica users have the option of setting convenience fees, or creating incentives that encourage earlier payment. When payers complete the Checkout experience, the cash is immediately applied as well as any merchant-set convenience fees, enabling CFOs to have the cash on hand immediately.
