Blockchain-enabled corporate payments platform Paystand has teamed with accounting and business management software company Sage. Their collaboration allows for a peer-to-peer (P2P)-like business payments experience via Paystand’s corporate payments network, according to a Tuesday (May 25) announcement.
That network is now connected with Sage Intacct and accessible through the Sage Intacct Marketplace, according to the announcement.
“Our goal at Sage is to help businesses improve productivity, make effective decisions, and optimize efficiency through automation,” Melody Williams, vice president of Sales Strategy and Operations at Sage, said in the announcement. “Partnering with Paystand is a way to make this goal a reality, and we’re excited to work with an industry pioneer that shares our vision of helping businesses scale faster, drive growth, and increase ROI.”
Paystand’s infrastructure, which is provided as a native integration to Sage Intacct, allows clients to make “smart invoices” with built-in payment options and a “branded, next-gen payment experience.” It also allows clients to save time by automated cash application and the capacity to “easily reconcile deposits, refunds, disputes, fees, and adjustments,” according to the announcement.
Moreover, the offering allows cash flow management to be simplified through the reconciliation of daily bank transfer data without intervention, according to the announcement.
The news comes as Repay Holdings Corporation has connected its accounts payable (AP) automation offering with Sage 100. That offering adds to the firm’s existing linkages with the Sage X3 and Sage 300 products. Firms can access the new connection via APS Payments.
In other recent news, Paya, Sage’s U.S. preferred payments partner, recently rolled out enhanced digital invoicing capabilities for Sage 100 in addition to Cloud EMV acceptance for Sage Intacct.
Dewey Forrester, vice president of Business Development with Sage, said in a previous announcement that the new releases represent “another major step forward for users of both Sage 100 and Sage Intacct.”