How Super7 Streamlined AR with the Smart Lockbox

How impactful is a smart lockbox? Collector toy company Super7 significantly streamlined their AR and improved processing speeds with Paystand.

Headquarters

San Francisco, CA

Industry

Memorabilia

Client

Challenge

Manually processing checks is a slow, cumbersome, and outdated process.

Solution

The Paystand Smart Lockbox solution effectively digitizes the entire workflow, including invoice matching, cash application, and bank reconciliation.

Testimonials

"With the Smart Lockbox, the check information is just automatically in our system as soon as we receive it, and it can be applied right away."

Ruben Marcias

Accounts Receivables Specialist

Challenges Faced by Super7

• Needed a streamlined, efficient AR process to support predictable cash flow for both retail and wholesale clients
• Faced delays in payment processing when handling large volumes of checks
• Manual check deposits required frequent trips to the bank, consuming valuable time and resources
• Lack of a unified and branded payment portal for an improved customer experience
• Desired a more secure and automated solution to handle stored payment information and reduce manual data entry

Results Achieved with Paystand

• Reduced Processing Time: Payment processing for saved payment methods now takes minutes, expediting cash application and reducing delays
• Increased Efficiency: The Smart Lockbox solution eliminated the need for manual check deposits, saving time and simplifying collections
• Enhanced Customer Satisfaction: Customers benefit from a branded portal with multiple payment options, resulting in smoother transactions and fewer delays
• Improved Cash Flow Transparency: Real-time tracking and automated reconciliation provided greater visibility into cash flow and reduced the risk of bottlenecks

Make payments a strategic advantage for your business\ \ Request Demo

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.