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What is PayStorm?

PayStorm is a cutting-edge platform that harnesses the power of artificial intelligence to optimize accounts receivable workflows, significantly improving cash flow management for small and medium enterprises. By employing advanced machine learning algorithms, PayStorm analyzes payment patterns to identify clients who may pose risks of late payments before they actually fall behind, resulting in an impressive 40% decrease in overdue payments and a faster collection timeline by 17 days. The platform seamlessly integrates with popular accounting solutions like QuickBooks and Xero, enabling automatic uploads of invoicing data for effective payment assessments. Notable features include machine learning-based risk assessments, automated payment reminders that maintain professional rapport, detailed cash flow analyses, and predictive insights for future financial planning. Furthermore, PayStorm enhances productivity by saving teams over five hours weekly through smart automation while maintaining strict compliance with GDPR security standards. This solution is especially valuable for businesses that follow project-based or retainer models, providing efficient receivables management without requiring extensive financial expertise. With its intuitive design and robust features, PayStorm not only empowers businesses to enhance their cash flow but also instills confidence in managing accounts receivable effectively. The platform stands out as an essential tool for businesses looking to modernize their financial processes and improve overall efficiency.

What is Collections Management?

Collections Management streamlines workflows customized for each client, promoting the consolidation of accounts receivable alongside their contact details. This system allows for precise targeting of clients based on their outstanding balances, overdue accounts, and other relevant metrics, while also highlighting invoices that are due for payment. In addition, it provides a mechanism for monitoring customer interactions and the follow-up actions that are required. Presently, approximately 3,200 clients are making use of Collections Management, and we often discover that these customers share similar hurdles in the debt collection process. Common challenges include clients failing to meet payment deadlines, the arduous task of chasing after overdue debts, and the overarching strain of collection management. By tackling these prevalent issues, Collections Management aims to refine your collections processes, allowing you to dedicate less time to administrative duties and more time to improving your business's cash flow. In this article, we will identify the key challenges faced by clients and illustrate how Collections Management can provide effective solutions to these problems, ultimately enhancing operational efficiency and financial health.

Media

Media

Integrations Supported

Microsoft Dynamics 365
Microsoft Dynamics GP
QuickBooks Online
Xero

Integrations Supported

Microsoft Dynamics 365
Microsoft Dynamics GP
QuickBooks Online
Xero

API Availability

Has API

API Availability

Has API

Pricing Information

$24/month
Free Trial Offered?
Free Version

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

PayStorm AI

Date Founded

2022

Company Location

United States

Company Website

paystorm.ai

Company Facts

Organization Name

Professional Advantage

Date Founded

1989

Company Location

United States

Company Website

www.professionaladvantage.com/products/collections-management

Categories and Features

Accounts Receivable

ACH Payment Processing
Billing & Invoicing
Check Processing
Collections Management
Online Payment Processing
Overpayment Processing
Partial Payments
Receivables Ledger
Recurring Billing

Categories and Features

Accounts Receivable

ACH Payment Processing
Billing & Invoicing
Check Processing
Collections Management
Online Payment Processing
Overpayment Processing
Partial Payments
Receivables Ledger
Recurring Billing

Billing and Invoicing

Billing Portal
Contact Database
Contingency Billing
Customer Portal
Customizable Invoices
Dunning Management
Hourly Billing
Invoice History
Mobile Payments
Multi-Currency
Online Invoicing
Online Payments
Payment Processing
Project Billing
Recurring/Subscription Billing
Service Ticket Billing
Tax Calculator

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