Following this announcement, Paystand will optimise the manner in which businesses automate their order-to-cash and accounts receivable (AR) procedures, offering proprietary bank-to-bank payment rails without fees.
In addition, by eliminating manual AR tasks, Paystand will enable companies and businesses to collect revenue faster and with less effort. Both firms will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Through this strategic deal, Paystand will focus on delivering ecosystem integration to clients. This process will enable them to access streamlined operations (while also eliminating manual data entry for AR tasks and integrate directly with ERP, ecommerce, and accounting systems), optimised visibility (comprehensive views of payment transactions, while improving tracking, reducing fees, and mitigating risks), as well as a more secure customer experience, as the integration with CRM systems will enable optimised client support, communication, and overall management.
Furthermore, Cleo’s platform will automate the development of sales orders and invoices in customers’ ERP systems, while Paystand is set to take over at the point by automating AR procedures through the reconciliation of funds. This initiative is expected to enable businesses and institutions to save time, reduce costs, and unlock new development opportunities.
The partnership is expected to allow companies to easily integrate the ERP and payment systems in order to improve cash flow and invoicing efficiency, as both firms aim to improve the way businesses handle transactions in a growing digital economy.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now