Paystand, the leader in blockchain-enabled B2B payments, and the maker of the fast growing and most innovative Payment SuiteApp for NetSuite AR, announces new automatic billing and payment features to provide a faster, simpler and better customer and user experience. The new offerings work with Paystand’s current NetSuite AR solution to speed up time to cash, simplify complex billing processes and eliminate transaction costs.
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The new Paystand features for NetSuite AR provide advanced functionality for accepting minimum deposits for Quotes & Estimates and automatic conversion of quotes to sales orders upon payment receipt. Paystand also allows instant cash sales for sales orders and efficient auto-payment at shipment, receipt or fulfillment completion.
“Mid-size businesses are struggling to grow in the current inflationary environment, rife with economic and political uncertainty, and supply and cash constraints,” said Jeremy Almond, CEO, Paystand. “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.”
Collectively, the new NetSuite AR features allow Paystand customers to supercharge their AR teams, increase productivity and provide end customers with an exceptional payments experience. Essentially a collection of self-driving AR capabilities, the features are available to customers over Paystand’s feeless network.
Quickly win business with Advance Deposits for Quotes & Estimates
The new Paystand Advance Deposits for Quotes & Estimates feature quickly secures customer commitments and unlocks working capital and efficiency by speeding up time to cash. Currently AR teams using NetSuite’s Quotes & Estimates (“Q&E”) are unable to accept advance payments from prospects at the early Q&E stage of the sales cycle. However, with the new Advance Deposits feature, AR teams can configure a minimum deposit and accept advance payments. Upon payment receipt, the Q&E is instantly converted to a sales order.