Paystand, the global leader in B2B payments, announced it will highlight new capabilities within its Sage Intacct integration that incentivize payers to change their financial behavior, including earlier more profitable payments. The features, introduced at the Sage Transform annual customer conference in Las Vegas, Feb. 26 – 29, boost AR efficiency through automation.
Paystand will demonstrate its integration at Booth #27 at the MGM Grand conference center.
Finance departments and AR staff using Sage Intacct can leverage Paystand’s unique fee-less B2B platform and tools to move to a fully digital payments flow, including full reconciliation automation and a bank-to-bank payment network that eliminates card fees.
Paystand first unveiled its partnership with Sage in May 2021, expanding the reach of its Payments-as-a-Service model to Sage Intacct customers everywhere.
AR Automation: faster time to cash
Using Paystand within Sage can accelerate AR processes even more to reduce days sales outstanding (DSO) by more than 60% and speed time-to-cash, all with zero transaction fees, for a total cost savings of over 50%.
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In addition to existing functions such as creating embedded payment options, streamlining cash flow with automatic reconciliation of bank transfer data, and automating critical functions like cash application, Paystand’s latest upgrades make it possible for Sage Intacct users to leverage new tools:
- Sales Orders Time Savings: a page enabling viewing of all sales orders as a merchant. Merchants can see whether the orders were paid and converted into an invoice, the amount to be paid, and the customers’ contact.
- Earlier Cash via Advance Payments: an AR Advanced button enables the merchant to receive a payment not yet applied to an invoice. This payment is tracked within the Payments section on the Paystand Dashboard.
- Instant Planning through the Contracts for Sage Function: automatically determines how many invoices will be generated throughout the lifespan of a project.
- Prompt Payments through The Open Invoice Reminder: allows merchants to send customers a statement periodically on a chosen date. In this email, the customer sees all open invoices so that they can pay more easily.
Sage Intacct customers also have access to other tools for earlier payment, including multi-entity support for merchants; automated collections that allow series of email reminders that track open rates; multiple invoice payment in a single transaction; and autopay, which ensures self-driving payments for invoices and sales orders.
Paystand’s continuing collaboration with Sage dovetails with its fourth straight year of being named to the Inc. 5000 list of Fastest-Growing Companies in America.
“As small and mid-sized companies are increasingly squeezed by higher supply chain costs, general inflation, and high transaction fees, Paystand’s top priority remains helping finance leaders using Sage Intacct to step up time-to-cash through adoption of next-gen automated solutions,” said Jeremy Almond, CEO of Paystand. “Our Sage Intacct integration enables AR teams to step into a proven digital financial world that is more profitable by being cashless, feeless, and frictionless.”
SOURCE: Businesswire