Paystand, a leading innovator in the field of digital payments, has introduced an innovative feeless B2B blockchain-enabled payment platform to Acumatica, a comprehensive cloud-based ERP system. Acumatica is renowned for its robust suite of features, including finance, inventory, CRM, and payroll management. This new integration with Paystand empowers Acumatica users to streamline their accounts receivable (AR) processes, shorten their days sales outstanding (DSO), and accelerate time-to-cash, all while eliminating transaction fees. By incorporating Paystand’s automated payment tools, finance departments across multiple industries can transition from antiquated, costly payment methods to a modern Payments-as-a-Service model, effectively encouraging earlier payments from customers.
One of the most compelling aspects of this integration is its support for Paystand’s Bank-to-Bank Network, which facilitates zero-fee, real-time payments. This advanced network, in conjunction with sophisticated reconciliation automation, liberates AR personnel from the tedious and error-prone task of manually managing spreadsheets and emails outside the ERP system. Consequently, companies can significantly boost their operational efficiency and profit margins. Jeremy Almond, CEO and co-founder of Paystand, emphasized the benefits this integration brings to accounting teams, including faster payments and improved synchronization of payment data, which ultimately enhances cash flow and increases margins.
Enhanced Efficiency and Cost Savings
The integration introduces several key features that further enhance its appeal. Among these are access to Paystand’s Bank-to-Bank Network, the ability to generate smart invoices, and the use of flexible email templates embedded with payment options. Additionally, the Paystand Checkout experience offers payers the choice between zero-fee Paystand Bank Networks, ACH, or credit cards, while providing incentives for earlier payments. This integration is expected to save Acumatica users over 50% on receivables costs by eliminating transaction fees and can potentially accelerate time-to-cash by up to 60%.
Bindu Gakhar, head of product at Paystand, highlighted that this substantial cost reduction and accelerated time-to-cash are particularly advantageous for scaling businesses looking to optimize their return on investment (ROI). The integration with Acumatica marks Paystand’s fourth native ERP integration, following successful integrations with NetSuite, Sage, and Microsoft Dynamics 365 Business Central. This strategic move is aimed at transitioning entire business and customer environments into a fully digital B2B payments structure, thereby streamlining the processing of receivables and revenue within the Acumatica ecosystem.
Embracing Digital Transformation
Paystand, a pioneer in digital payments, has launched a groundbreaking feeless B2B blockchain-enabled payment platform for Acumatica, a comprehensive cloud-based ERP system known for its robust finance, inventory, CRM, and payroll management tools. This new integration allows Acumatica users to streamline their accounts receivable processes, reduce days sales outstanding (DSO), and speed up the time-to-cash, all while eliminating transaction fees. By leveraging Paystand’s automated payment solutions, finance departments across various industries can switch from outdated, costly payment methods to a modern Payments-as-a-Service model, fostering earlier customer payments.
A key highlight of this integration is its support for Paystand’s Bank-to-Bank Network, enabling zero-fee, real-time payments. This advanced network, paired with automated reconciliation, frees accounts receivable staff from managing spreadsheets and emails outside the ERP system. As a result, companies can greatly improve operational efficiency and profit margins. Jeremy Almond, CEO and co-founder of Paystand, noted the benefits for accounting teams, such as faster payments and enhanced payment data synchronization, which ultimately boost cash flow and margins.