Cleo and Paystand Join Forces to Revolutionize B2B Payment Automation Through Ecosystem Integration

CHICAGO & SCOTTS VALLEY, Calif.--(BUSINESS WIRE)--Cleo, the global leader in ecosystem integration and provider of the Cleo Integration Cloud (CIC) platform, today 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.”

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.”

About Paystand

Paystand's on a mission to create a more open financial system, starting with B2B payments. Using blockchain and cloud technology, we pioneered Payments-as-a-Service to digitize and automate the entire cash lifecycle. Our software makes it possible to digitize receivables, automate processing, reduce time-to-cash, eliminate transaction fees, and enable new revenue. To learn more, visit www.paystand.com.

About Cleo Integration Cloud

Cleo Integration Cloud (CIC) is a cloud-based integration platform, purpose-built to design, build, operate, and optimize critical ecosystem integration processes. The CIC platform brings end-to-end integration visibility across API, MFT, EDI, and non-EDI integrations, giving technical and business users the confidence to rapidly onboard trading partners, enable integration between applications, and accelerate revenue-generating business processes. On the platform, businesses have the choice of self-service, managed services, or a blended approach – ensuring complete flexibility and control over their B2B integration strategy.

About Cleo

Cleo is an ecosystem integration software company focused on business outcomes, ensuring each customer’s potential is realized by delivering solutions that make it easy to discover and create value through the movement and integration of B2B enterprise data. Cleo gives customers strategic, “outside-in” visibility into the critical end-to-end business flows happening across their ecosystems of partners and customers, marketplaces, and internal cloud and on-premise applications. Our solutions empower teams to drive business agility, accelerate onboarding, facilitate the modernization of key business processes, and capture new revenue streams by reimagining and remastering their digital ecosystem through robust application, B2B, and data integration technologies. For more information, visit www.cleo.com or call +1.815.282.7695.