Motorola Sees Immediate Top and Bottom-Line Benefits by Implementing Paystand

Here is how Motorola saved 20 hours per week on its invoicing process and reduced costs by 16%

Headquarters

Chicago, IL

Industry

Telecommunications

Client

Challenge

Manual processing leading to delays in receiving payment, poor recordkeeping, and high costs.

Solution

Paystand’s AR automation integration with NetSuite reduced costs by 16%, sped up collections, and improved the entire payment process.

Testimonials

"Since working with Paystand, we’ve saved almost 20 hours of work a week."
Sofia Mitchell
Accounting Analyst

Challenges Faced by Motorola

• Time-consuming, manual invoice processing despite a digitized solution with Authorize.net
• High number of returns due to insufficient customer balances and lack of efficient balance verification
• Manual payment uploads causing delays and inefficiencies, even after migrating to NetSuite
• Need for a more automated, customer self-service-friendly payments system to enhance efficiency and reduce costs

Results Achieved with Paystand

• Saved nearly 20 hours of manual work per week for the finance team
• Reduced processing fees by 16%, allowing for reinvestment into affiliates
• Improved cash flow and collections with real-time visibility into payments
• Cost savings of 10% compared to other competing solutions, leading to a more favorable fee structure
• Exceptional customer support, making implementation and ongoing use smooth and efficient

Make payments a strategic advantage for your business\
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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.