Paystand
UnclaimedAutomate B2B Accounts Receivable and Accounts Payable with zero-fee, blockchain-powered payments.
Visit WebsiteTL;DR - Paystand
- Automates B2B Accounts Receivable and Accounts Payable processes.
- Offers a zero-fee payment model using a blockchain-powered network.
- Integrates with ERPs and provides APIs for custom payment solutions.
Pricing: Paid only
Best for: Enterprises & pros
4.6/5 across review platforms
Pros & Cons
Pros
- Eliminates transaction fees, leading to significant cost savings.
- Accelerates payment cycles and reduces Days Sales Outstanding (DSO).
- Provides real-time visibility into cash flow and payment statuses.
- Leverages blockchain for enhanced security, transparency, and auditability.
- Offers seamless integration with existing ERP and business systems.
Cons
- Specific pricing details are not publicly available and require a demo.
- The blockchain aspect might require some understanding for new users.
- Primarily focused on B2B, which may not suit all business models.
Ratings Across the Web
4.6(547 reviews)
Ratings aggregated from independent review platforms. Learn more
Key Features
ZeroTouch Accounts Receivable automationAccounts Payable automationZero-fee B2B paymentsSame-day fund availabilityReal-time cash application and reconciliationPaystand Bank Network for transfersEnterprise blockchain for secure, auditable recordsNative ERP integrations (NetSuite, Sage Intacct, Microsoft Dynamics, Acumatica)
Pricing
Paid
Paystand offers paid plans. Visit their website for current pricing details.
About Paystand
By Toolradar Team·
Paystand offers a comprehensive financial suite designed for the office of the CFO, unifying Accounts Receivable, Payments, Accounts Payable, Expense Management, and FX Payouts. It automates both money in and money out processes, aiming to cut costs, eliminate fees, and accelerate payment cycles for B2B transactions.
The platform provides ZeroTouch Accounts Receivable automation, handling everything from invoicing to reconciliation, and enabling customers to pay through self-service portals with instant ERP updates. For Accounts Payable, it automates invoice approvals and vendor payments, ensuring real-time reconciliation and automatic remittance advice. A key differentiator is its ZeroFees model, leveraging a blockchain-based network to reduce Days Sales Outstanding (DSO) and provide instant access to funds, moving away from traditional payment processors that charge per transaction. Paystand integrates seamlessly with major ERP systems and offers robust APIs for custom payment workflow development.
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Paystand FAQ
How does Paystand achieve a 'zero-fee' model for B2B payments, unlike traditional processors?
Paystand utilizes its proprietary blockchain-powered network to process B2B payments. This infrastructure removes intermediaries that typically charge per transaction, allowing businesses to eliminate processing fees and keep more of their revenue. The blockchain ensures secure, tamper-proof transactions without the traditional costs associated with payment gateways and networks.
What specific benefits does the enterprise blockchain technology provide for financial operations beyond just fee reduction?
Beyond fee reduction, Paystand's enterprise blockchain technology provides immutable transaction records, creating a tamper-proof audit trail for every payment. This enhances security, minimizes fraud risks, and provides real-time verification, making audits and financial reporting more reliable. It also enables smart contract-enabled payment workflows for automated AR lifecycles and offers cross-border transaction capabilities with near-zero latency.
Can Paystand's API be used to build custom payment experiences for customers, such as branded checkouts or unique payment schedules?
Yes, Paystand offers powerful, open APIs that allow developers to customize B2B payment workflows. This includes building branded checkout experiences, automating payouts, enabling scheduled or recurring payment options, and securely moving funds through the Paystand Network. The API supports integration with ERPs, CRMs, or custom platforms to streamline billing, collections, and reconciliation.
How does Paystand's 'Assurety' feature contribute to data integrity and audit readiness for financial teams?
Assurety is a built-in feature that stores data on a permanent virtual ledger with a full audit history. This blockchain-based ledger ensures end-to-end data integrity by creating immutable transaction records. This means every payment is verifiable, traceable, and secure, providing finance teams with a new level of assurance for audits and financial reporting, eliminating the need to manually verify records.
What is the typical impact on Days Sales Outstanding (DSO) for businesses implementing Paystand's AR automation?
Businesses using Paystand's AR automation typically experience a significant reduction in Days Sales Outstanding (DSO), with some seeing cuts by as much as 40%. This is achieved through accelerated collections, instant access to funds with same-day availability, and real-time reconciliation, which eliminates manual cash application delays.
Source: paystand.com