FloWater Saves 40+ Hours a Week and $100K by Automating AR with Paystand

FloWater’s finance team processes 100 to 200 payments per day across 12,000 leased water stations. With Paystand embedded in NetSuite, payments arrive, apply, and close without manual intervention.

By The Numbers

100-200

Payments processed per day

40+

Hours/week of manual processing avoided

$100K

Projected savings this year

Headquarters

Denver, CO

Industry

Clean Technology / Water

Client

Challenge

When Kristin Holthus joined FloWater as VP of Finance, the billing process needed cleanup. Monthly invoices were not generating automatically from NetSuite, which meant payments could not be triggered and applied as intended. Customers with autopay or cards on file were not always being processed correctly, forcing the finance team to spend time fixing what should have run on its own. With 12,000 leased units in the field generating monthly payments, the volume made every inefficiency costly.

Solution

FloWater implemented Paystand inside NetSuite to automate invoice delivery, payment collection, and cash application. Customers receive invoices with an embedded payment link and can pay by credit card or ACH. Once a payment is submitted, Paystand syncs it back to NetSuite, applies it to the correct invoice, and closes it out. The result is a cleaner AR motion with less manual work and fewer opportunities for error.

Testimonials

"Our goal is to have billing and payment be the easiest part of the process so customers don’t have to think about it."

KRISTIN HOLTHUS

VP of Finance and Head of HR

Challenges Faced by FloWater

• Monthly invoices were not generating automatically from NetSuite, breaking the payment trigger and application flow
• Customers with autopay or cards on file were not always processed correctly, requiring manual intervention from the finance team
• With 12,000 units generating recurring monthly invoices, any manual step in the AR process compounded across a high transaction volume
• Physical check payments required one to two hours of daily manual processing per check batch, including remittance matching, deposit creation, and NetSuite entry
• Month-end reconciliation required payment-level matching rather than batch-level reconciliation, adding time and creating room for error

Solutions Implemented with Paystand

• Smart Lockbox receives, scans, and matches incoming checks to open NetSuite invoices automatically — no team involvement
• ACH and card payment automation with direct matching to invoice records, eliminating manual remittance hunting
• Credit memo application within the same transaction, removing a common point of manual intervention
• Native NetSuite integration for automatic reconciliation across all payment types
• AR Network Portal rolled out to U.S. wholesale customers so they can view invoices and pay in one place

Ready to make payments the easy part?
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Paystand is on a mission to create a more open financial system, starting with B2B payments. Using blockchain and cloud technology, we pioneered Payments-as-a-Service to digitize and automate your entire cash lifecycle. Our software makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue.