Cleo, the global leader in ecosystem integration and provider of the Cleo Integration Cloud (CIC) platform, announced a strategic partnership with Paystand, a B2B payments solution provider that works largely with retailers, manufacturers, distributors, and software vendors.
Paystand helps businesses automate their order-to-cash and accounts receivable (AR) processes, providing a feeless proprietary bank-to-bank payment rail. By eliminating manual AR tasks, Paystand enables companies to collect revenue faster and with less effort.
“Since partnering with Cleo, we’re able to offer our customers a fully automated order-to-cash cycle with no manual effort,” said Todd Kibisu, Channel Account Manager at Paystand. “Cleo’s platform automates the creation of sales orders and invoices in our customers’ ERP systems, and Paystand seamlessly takes over at this point by automating AR processes through the reconciliation of funds. Together, we’re enabling businesses to save time, reduce costs, and unlock new growth opportunities.”
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Through this collaboration, Paystand also delivers ecosystem integration to customers, offering:
- Streamlined Operations: Eliminate manual data entry for AR tasks and integrate directly with ERP, eCommerce, and accounting systems.
- Enhanced Visibility: Comprehensive views of payment transactions, improving tracking, reducing fees, and mitigating risks.
- Improved Customer Experience: Integration with CRM systems enables better customer support, communication, and overall management.
“We are thrilled to partner with Paystand and combine their innovative payment automation technology with the power of Cleo Integration Cloud,” said Ken Lyons, Chief Revenue Officer at Cleo. “This partnership allows businesses to easily integrate their ERP and payment systems to improve cash flow and invoicing efficiency. By joining forces, we’re delivering a future-ready solution that transforms how businesses handle payments in the ever-evolving and growing digital economy.”
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