Paystand a blockchain-based B2B payment service provider that digitizes receivables and enables users to move their manual financial processes to the cloud has added new automatic billing and payment features to its Payment SuiteApp for NetSuite AR. These features ensure an improved customer experience as payments will be simpler and quicker. Also, these offerings streamline intricate billing procedures, hasten time to cash and remove charges deducted in transactions.
With new offerings in Paystand’s NetSuite AR, vendors will access next-gen functions for automated conversion of quotes to sales orders upon payment invoice and while accepting minimal deposits for Quotes & Estimates. The Paystand’s app also enables organize automatic payment for receipt, fulfillment completion, shipment, and process cash sales for sales orders within seconds.
Jeremy Almond, CEO, Paystand, stated, “Mid-size businesses are struggling to grow in the current inflationary environment, rife with economic and political uncertainty, and supply and cash constraints. In order to thrive, they need a paradigm shift from human-centric AR processes to the next generation, self-driving AR that delivers instant and automated payments. The new solution for NetSuite builds on our core business payments network and allows AR teams to scale using automation, rather than adding to the size of their organization.”
Paystand consumers can have a smooth payment experience, find their AR team motivated and charged, and boost productivity with the new NetSuite AR. More importantly, the AR team will get a collection of self-driving AR abilities, and these features are available to them over a feeless network of Paystand.
Paystand NetSuite AR New Features-
Business Making gets Easier with Advance Deposits for Quotes & Estimates
The new Paystand Advance Deposits for Quotes & Estimates feature is going to help AR teams using the current version of NetSuite’s Quotes & Estimates with secured customer commitments, hastening time to cash, getting working capital resolving existing challenges like accepting advance payments from consumers at the early Q&E stage of the sales cycle.
Instant Payment against Sales Orders with Cash Sales for Sales Orders
Current NetSuite AR teams are unable to get real-time payment against a sales order to receive in 30 to 60 days, the Cash Sales for Sales Orders feature will allow having one-time, walk-in, and cash basis customers, having instant payments against sales orders to vendors.
Efficient Payment Receiving with AutoPay Upon Fulfilment
Existing NetSuite AR doesn’t allow for automatic payment charges at shipment or receipt or fulfillment without involving humans, the AutoPay Upon Fulfilment feature enables reducing payment repetition, accelerating the cash cycle, and removing errors in the transaction cycle.