Cumula 3 and Paystand Partner on B2B Payment Solutions

Cumula 3 and Paystand have partnered to offer NetSuite users a way to leverage simplified transactions, zero transaction fees and improved cash flow management.

In this new partnership, Paystand’s B2B payment platform will be integrated into Cumula 3’s portfolio of cloud-based solutions for NetSuite, the companies said in a Wednesday (Aug. 21) press release.

“We are excited about our partnership with Paystand, as it allows us to offer our clients a comprehensive solution that combines the power of cloud computing with modern payment technologies,” Gaetjens Cadet, vice president of business development at Cumula 3, said in the release.

Cumula 3 provides cloud-based solutions that are designed to optimize business processes, drive innovation, be scalable and be secure, according to the release.

Paystand’s payment platform helps businesses reduce their reliance on outdated payment methods and improve their reconciliation processes by digitizing and automating their financial transactions, the release said.

Together, with that platform integrated into Cumula 3’s offerings, these capabilities aim to help businesses achieve greater operational efficiency and accelerate their digital transformation, per the release.

“Our partnership with Cumula 3 represents a significant step towards modernizing B2B payments,” Max Robbins, vice president of partnerships at Paystand, said in the release. “Together, we are empowering businesses to adopt a digital-first approach to finance, ensuring they remain competitive in today’s fast-paced economy.”

This new partnership comes about four months after Paystand acquired spend management software provider Teampay to create a unified financial platform that covers both accounts receivable (AR) and accounts payable.

The acquisition added spend management solutions to Paystand’s capabilities that already included those offered by its blockchain-based platform that automates AR, reduces days sales outstanding (DSO) and eliminates transaction fees.

“It offers enhanced control over both receivables and payables, delivering a direct [return on investment (ROI)]through greater efficiency and significant payment savings,” Paystand CEO Jeremy Almond said in an April blog post.

Also in April, Paystand brought full payments integration to Microsoft Dynamics 365 Business Center, with the B2B receivables, payables and payments network also offering support for Microsoft’s Dynamics NAV, Dynamics GP, Dynamics AX and Dynamics 365 Finance.

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