Paystand, the global leader in blockchain-enabled B2B payments, today announced a series of upgrades to its Sage Intacct integration. Paystand first unveiled its partnership with Sage in May 2021, expanding the reach of its payment-as-a-service model to Sage Intacct customers worldwide.
Now, in addition to being able to create integrated payment options, streamline cash flow with automatic reconciliation of wire transfer data, and automate critical functions such as the cash app, the latest Paystand upgrades allow Sage Intacct users to increase their pay-it-pay-it speed. level.
With the latest Paystand updates, Sage Intacct customers will now have access to the following:
- Multi-entity support for merchants – support for multiple organizational entities, typically based on geographic locations and business units
- Automated Collections – a series of pre-set email reminders about message tracking frequency, tone, and open rates
- Multiple invoices – send a consolidated payment request with multiple invoices and allow payers to pay multiple invoices with one payment
- Virtual Terminal – allows AR staff to capture payment methods as reusable tokens and accept payment with customers on the go
- Automatic payment – provide autonomous payments for invoices and purchase orders, allowing faster time to collection
- Canadian dollar payments – allows all merchants to accept and settle payments in Canadian dollars
This closely follows the acquisition of Yaydoo by Paystand and the company’s planned expansion throughout Latin America, its elevation to unicorn status and its third consecutive year of being named to the Inc. 5000 list of companies. fastest growing in America.
“As we head into an economic environment plagued by inflation and uncertainty, Paystand’s top priority remains to help finance executives using Sage Intacct accelerate their cash velocity through the adoption of solutions next-generation B2B payment platform,” said Jeremy Almond, CEO of Paystand. “Upgrades to our Sage Intacct integration allow us to enable finance teams to enter the future of B2B payments – cashless, feelless and frictionless payment.”
“Enabling integrated AR and payment automation for controllers and AR managers accelerates time to cash, automates invoicing, payments and reconciliation, and eliminates transaction fees,” says Melody Williams, Business Development Manager, Sage Intacct. “The expanded functionality available from the Paystand integration shows their commitment to helping finance managers save time and money, while increasing their cash flow velocity.”
Now more than ever, Paystand’s mission to revamp trade finance is desperately needed. As the cooling economy continues to bring fear and uncertainty to businesses, Paystand’s ability to eliminate credit card fees, monopoly banking practices and time-consuming paper processes couldn’t be more relevant.
Over a three-year period, the average Paystand customer achieves:
- 62% reduction in days of outstanding sales (DSO)
- 50% savings on the cost of receivables
- 30-75% savings on transaction fees
- $90,000 labor cost savings