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Paystand SuiteApp: Payments and AR Automation for NetSuite

Status: Unverified

Paystand is a leading digital payment solution for NetSuite, with over 160,000 businesses transacting on its payment network. Paystand makes it easy to accept payments, streamline collections, and automate hours of manual A/R tasks. Using the Paystand SuiteApp, you can enable no-fee payments and simplify complex accounting processes and operations like collections, payment reconciliation, and the communication workflow with customers. You won’t find any additional fees or markups associated with Paystand’s network. Instead, you can access wholesale processing rates and collect payments electronically without paying any transaction fees. With robust support for NetSuite functionality, the Paystand SuiteApp upgrades the payment experience, reduces costs, supports Advanced NetSuite features like OneWorld and SuiteCommerce Advanced, and frees up AR resources across your business to improve cost savings, team productivity, and cash flow.

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Description

Payments and AR Automation for NetSuite

Paystand allows you to process payments and automate the Accounts Receivable (AR) process within NetSuite. With native NetSuite functionality, Paystand easily integrates with your system to streamline invoicing and collections, automate reconciliation, and remove hours of manual A/R operations from your workload. Additionally, Paystand offers flat monthly pricing and zero-fee bank to bank payments via the Paystand network.

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Key Benefits

  • Reduce fees and processing costs
  • Automate hours of manual A/R tasks
  • Enhance invoice presentment with Pay Now functionality
  • Streamline collections and reconciliation
  • Reduce DSO and late payments
  • Speed up the financial close
  • Predict payment costs effectively
  • Improve forecasting accuracy
  • Standardize complex payment processes and A/R operations

Customer Quote

“We were using a combination of Quickbooks Online for accounting and Bill.com for receivables, but neither connected directly to Salesforce to tie all our data together. We needed a secure, seamless connection that would support our business’s growth. The Paystand platform has allowed us to automate and optimize the way we send out invoices and collect payments on a monthly basis. We’re thrilled that the results aligned with our expectations. We’re operating as a well-oiled machine.”

– AJ Heffernan, Director of Finance and Operations, Choozle

Features and Capabilities

  • Accept ACH, credit and debit cards
  • 0% Fee Bank to Bank Payments
  • Autopay and Recurring Billing
  • Instant Cash Application
  • Automatic Reconciliation
  • Fund-on-File Tokenization
  • Virtual Terminals
  • Pay Now Buttons and Links
  • Scheduled Billing Reminders
  • Branded Payment Portals
  • Multi-currency invoicing and presentment
  • Support for SuiteCommerce Advanced and OneWorld Integration
  • Easy implementation process and dedicated Customer Success team
FEATURES

Manage, Reduce, and Eliminate Payment Processing Fees

  • Accept credit cards, debit cards, and ACH, including 0% bank to bank payments
  • Access wholesale credit card rates and flat-fee pricing for ACH
  • Use Least-Cost-Routing to steer customers to the payment option that results in the lowest cost to the merchant
  • Use "Payer-Pays-Fees" features to offset transaction costs and generate new revenue

Streamline Collections and Improve DSO

  • Schedule payments, enable autopay, and set up recurring billing
  • Add payment links and pay now buttons to invoices, billing reminders, sales orders, and statements
  • Give customers self-service option to select and pay multiple open invoices at a time
  • Use virtual terminals to process payments on behalf of your customers within the NetSuite dashboard
  • Attach metadata and custom fields to invoices in order to streamline reconciliation
  • Enable Dynamic Discounting to encourage early payments from your customers

Reconcile Payments Instantly within NetSuite

  • Reconcile payments in real-time using 'Automatic Reconciliation'
  • Automatically apply collected payments to open invoices in NetSuite with 'Instant Cash Application'
  • Recognize cash in real-time and reflect when funds have been deposited into your account with 'Deposited Fund Status'
  • Receive automatic transfer reports and ledger updates with details of a deposit, its transactions, and any invoices or sales orders a deposit affects

Native Support for Advanced NetSuite Features

  • Add subsidiaries and multiple entities with OneWorld integration
  • Enable eCommerce functionality with SuiteCommerce Advanced
  • Support multi-currency invoicing and presentment

Improve Security and Compliance with Built-In Assurety

  • PCI DSS Level-1 certified payment processor
  • Enable two-factor authentication and role-level user access
  • Securely store customer payment data with Fund-on-File tokenization