Santa Cruz Tech Beat


To fully automate B2B payments, PayStand emphasizes receivables

By David Heun

May 8, 2019 — Scotts Valley, CA

More businesses are converting to electronic documents and management tools to streamline operations and cut costs, but those upgrades often skip the last part of that journey — how to accept B2B payments in a digital economy.

This is particularly true of those in financial commercial services, a sector still relying heavily on paper checks, ACH and wire services to receive and move money.

“Many companies have converted to digital aspects and the cloud for business operations, but the money movement part hasn’t changed all that much,” said Jeremy Almond, CEO and co-founder of PayStand, a B2B payment platform provider. “The legacy systems have been holding back those companies from fully embracing the digital age.”

In looking to put a dent in the $18 trillion in paper checks it says North American businesses handle annually and the $550 billion in processing and delay costs they endure, PayStand is launching an Automated Receivables platform that converts the collections and payment experience of a business into a digital process.

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UC Santa Cruz​ has received a new grant to support students in Scientific Computing and Applied Mathematics! #ucscengineering #thinkBSOE

The National Science Foundation has awarded a $950,000 grant to support the Next Generation Scholars in Applied Mathematics (Next Gen SAM) program. Led by Pascale Garaud (Applied Mathematics, Baskin School of Engineering), Rebecca Covarrubias (Psychology), Pablo Reguerin (Associate Vice Chancellor for Student Achievement, Equity and Innovation) and Carmen Robinson (Baskin School of Engineering Director of Undergraduate Affairs), Next Gen SAM will provide students interested in completing a MS degree in Scientific Computing and Applied Mathematics with several important resources. This includes financial support in the form of scholarships, personalized academic mentoring and counseling, peer support, and career advising.
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