Episode 401: Optimizing Accounts Receivables in Business Central

Episode Transcript
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Speaker 1 (00:00):
Welcome everyone to another new episode of Dynamics
Corner.
Why not get paid on time, brad?
Why AR payment is anafterthought.
Perhaps it shouldn't be in animplementation.
So stand up, own your pay.
Sorry for the dad joke, I'myour co-host, chris.

Speaker 2 (00:19):
And this is Brad.
This episode was recorded onJanuary 6th 2025.
Chris, chris, chris, look atyou coming out with a dad joke.
Look at this, it's a new yearand we're still here and sitting
in the Dynamics Corner chair.
See, you had a dad joke.
I had a little rhyme.
Here we are with the firstrecording in 2025.

(00:40):
And with us today, I had theopportunity to learn a lot about
AR collections and paymentswithin Business Central.
With us today, we had theopportunity to speak with David
Garrison and Danny Hossa fromPaystand hello, david, danny,

(01:15):
good morning, good afternoon.

Speaker 3 (01:15):
Happy new year.
How are you both doing?

Speaker 2 (01:16):
doing well, happy new year you know, happy new year
this is.
We were able to take a smallbreak for the holidays.
This is our first recording forthe new year, so you were the
first guests for the new year.
But I always have the questionand someone asked me the same
question yesterday how often orhow long do you say Happy New

(01:38):
Year?
Is it the first time you seesomeone after the new year
Through the end of January?
Is it the first two weeks I hadthe new year through the end of
January?
Is it the first two weeks?
I had a long conversation withsomeone about this last night.
I think it's the first twoweeks.
The first two weeks.
The first time you see somebody,or if I talk with you again
tomorrow, do I say happy?

Speaker 3 (01:58):
new year again it's gotta be 30 days, man.
30 days, the full January, Ithink.
If it's the first time you'rereaching out or talking, mention
it within the first 30 days, Ithink after that it's a little
bit, it's old news.

Speaker 4 (02:13):
Well, I said I was at doctors this morning.
I said it to them and I kind offelt awkward saying it because
I'm like like it's already beena week, know, but they
appreciate it.

Speaker 2 (02:25):
Well, that adds a twist to this conversation or to
this question.
Do you base it on how well youknow someone?
So in the case of when you'regoing to the doctor, you may not
speak with the receptionistregularly?
Or maybe a different type ofrelationship may not be a
business relationship where ifyou're having a for reference, a

(02:47):
sales call with a prospect, youmay say Happy New Year just
because of formality, versussomeone who's doing reception or
intake at a medical office youmay not say it to.
It doesn't matter who it is.

Speaker 4 (03:03):
No, I think it also matters where you are, because
one of the things we learned inIdaho when we moved here, it was
kind of like if you say I hopeyou had a good day, or have a
nice day, or you know how areyou doing, like you better be
ready to hear the answer, likebecause they just they just
converse, like you know the ladyat the, the clerk at the market

(03:28):
.
You're like hope you had a goodday and she's like, oh no, let
me tell you about my day.
Like I don't really care.
Do you really care?
Did I really need to know aboutyou, know everything that
happened on your way?
So like, be prepared to hearwhere, like I remember in LA,
like people don't even stop atstop signs.
So like why would they care?

Speaker 1 (03:51):
Stop sign You're saying they can't read.

Speaker 4 (03:57):
It's just so self-centered, Like it's, like
you know, it's theself-centeredness versus the
really legitimately caring, youknow I think I've seen the
difference being in Californiaand being in other states, that
how kind people are.

Speaker 3 (04:14):
You know strangers.

Speaker 2 (04:15):
Where.

Speaker 3 (04:17):
Versus people outside of California usually, and then
people in California.
You know not as muchacknowledgement or care for.
You know a person's day.

Speaker 1 (04:25):
There's a saying that Brad and I talked about this.
You know, people in the West,primarily in California they're
nice but they're not kind.
People outside of that statenothing against California, by
the way they're not nice, butthey're very kind.

Speaker 2 (04:44):
No no, no, no, you said it wrong.

Speaker 4 (04:46):
That's really interesting, no, you said it
wrong.
You said the West Coast of.

Speaker 2 (04:50):
California.
They're kind but they're notnice.

Speaker 1 (04:54):
Right, no, they're nice.
They're nice, they'll supportyou, but they're not really kind
.
There's no intent.
They just say, hey, how are youdoing Bl tent?
Uh, they just say, hey, how youdoing blah, blah, blah?
But they're like, yeah, I don'treally care.

Speaker 2 (05:04):
And then the east coast, right specifically the
northeast.
They're kind, but they're notnice, right?

Speaker 1 (05:09):
yeah, like new yorkers, for example, they sound
like they're yelling at you,right, they're like they don't,
they're not.
That's not very nice, but thenlike they're very, actually
they're kind.

Speaker 4 (05:16):
Yeah, we have big hearts I had a sales job where I
was calling into credit unionsand financial institutions in
the Pacific Northwest and theyliterally would call me back to
tell me they're not interested.
And I was like shocked.
I'm like wait, you guys arereal close.
And I was like Chris, you know,you've been in the Northwest
BMW.
But then I also interviewed fora job once that was in East

(05:40):
Coast territory, but it was aWest Coast company, but it was
going to be in East Coastterritory.
And they were like there's noway, david, you could sell to
East Coasters Like they willjust eat you alive.
You just don't have the.
You know, you don't have that,even though I was born in
Schenectady, you know I spentsix months there, but that was
it.
Yeah, that Boston or that NewYork like selling to them.

(06:03):
It's like you know no fluff,just you know cut throat, cut
throat.

Speaker 2 (06:12):
You know so that was funny that there is a there is
truth to that, because in mytravelings I have to go back to
it.
Chris, you left out the otherpiece to this.
Then you said the Midwestthey're passive, aggressive.
Yes.
So I mean we kind ofbutcheredered that statement but
you should have to go the wholething.
So the west coast they're kindnice but they're not kind.
East coast they're kind butthey're not nice.

(06:34):
And then the midwest is justpassive, aggressive.
And I heard somethinginteresting.
I'm gonna go back to david'scomment.
So I heard somethinginteresting this morning that
you know this whole talk about.
I'm not bringing politics intoit.
There's a reason why I'm sayingthis, with this whole comment
of Midwest being passive,aggressive, that you know,
canada being the 51st state.
But for the first time I heardsomebody talk about how Canada

(06:56):
should buy Minnesota and I saidthey should take Minnesota and
Wisconsin and I'd be happy weshould give them to them, we
should pay them to takeMinnesota and Wisconsin.

Speaker 3 (07:05):
I don't care what anybody says.
Are you the one that postedthat on LinkedIn?

Speaker 2 (07:08):
I did not post that.

Speaker 3 (07:10):
No, I saw something recently.

Speaker 2 (07:13):
Yes, I heard it on the news this morning.
They were talking about it andthey were talking like the
probability.
I don't want to get into thewhole thing, but I just said it
because of you know the whole.

Speaker 4 (07:23):
Chris knows, my Midwest Minnesota, wisconsin.
The converse of that was likewe'll take all of Canada except
for Toronto and Ontario.
I think there's similardisbelief, you know
dissatisfaction from differentareas within each of the
territories.

Speaker 2 (07:42):
I think Toronto.

Speaker 4 (07:44):
It would solve our payments issue.
If we did, you know we'd haveno more USD and CAD issues.

Speaker 1 (07:50):
Simplifies things.

Speaker 4 (07:51):
It would simplify currency.
You know I wouldn't havecustomers asking does PayStand
support?
You know Canadian, you knowterritory.

Speaker 2 (08:00):
But it does say a lot because they're talking Canada
could be its own state.
So there really has to benothing there, because I think
as big as it should be, itshould be about 40 states.

Speaker 4 (08:10):
It's five provinces, isn't?

Speaker 2 (08:12):
it.
I believe so.

Speaker 4 (08:22):
So I mean you at least make.
I've never been to directlynorth of Idaho, wherever it is,
but it's totally different thanQuebec.
Each of them operate very, verydifferently.
Some of them speak a differentlanguage.
Some of them require you tohave spikes on your tires during
winter and some of them don't.

(08:42):
I mean, there's very differentclimates, very different that is
true but the same could be saidfor the united states.

Speaker 2 (08:50):
I mean, we have 50 of them, right, chris?
Anyway, enough of that.
Thank you very much.
Uh, again.
So start over, chris, rewind,it, don't put any of that stuff
in, right?
Danny david, happy new year.
It's nice to see you both again.
It's been a while.
I had the pleasure of seeingyou both in San Antonio, which
seems like so long ago, and I'vebeen looking forward to

(09:15):
speaking with you ever sincethen.
And before we jump into theconversation, would you mind
telling us a little bit aboutyou?
I'm full of fire today, so beready, ready.
Like it's the first recordingof 2025 good thing I didn't say
2024 and it's hump day.
Uh, yeah, we're coming over thehump.
I'm further over the hump thanall of you, by the way yes, by a

(09:37):
couple hours.
That works out well, three hourswe, um we're.

Speaker 4 (09:41):
So, as the first recording of the, we have to set
this bar pretty high, right.

Speaker 2 (09:47):
I said that, yes, right, because now or you could
set it really low and theneverybody else would sound
really well, but I think withthe two of you, setting the bar
low would be a challenge.
So we're going to set it reallyhigh for today's conversation.
And before we jump into theconversation, would you mind
telling us a little bit aboutyourself, mr David?

Speaker 4 (10:09):
Yeah, david Gersten, I'm based in Idaho.
They call it God's country.
It's real interesting.
I've been here about threeyears.
My day job.
I'm the director of emergingecosystems here at PayStand.
That means I run our Microsoftand Acumatica practice, both

(10:32):
sales and channel.
I've been in the Microsoft orERP space about 14 years, came
into it from selling cell phonesto a Microsoft nav practice and
they said what the heck are youdoing selling cell phones?
You need to get back and sellreal stuff, which I primarily

(10:54):
have always sold millions andmillions of big contracts.
So I didn't even know what anERP was.
But yeah, I spent 10, 11 yearsat VARS and a couple years in
the ISV space.
I'd say primarily Microsoft.
I kind of come from that space.
Personally, I'm a dad of twoplus a dog.
We have two adults now an 18and 20, almost 21-year-old.

Speaker 2 (11:19):
You are done as I call it.

Speaker 4 (11:20):
You are done Like now life begins, so everyone have
children early, so that you canbe young.
They're starting their ownlittle company selling hype gear
um hype wear, and theyestablished their company last
night Um this site, so realexcited that they're like
working together.

(11:40):
It's fine, like to see twosiblings actually finally get
along after 18 years of watchingthem beat each other up.
It's just exciting to see that.
So that's my life.
I have a dog, I love outdoors,I love community, I love sushi
People know that and my big fan,my new thing is jelly roll

(12:06):
jelly roll I am, I am, I, I crylistening to joe we're just,
we're ending the discussion now,yeah,

Speaker 2 (12:15):
because, that's the way.
Oh see, now I think we're justgoing to talk about various
things.
So you have a day job, you havea night job.

Speaker 4 (12:24):
I'm full of fire today.
So, danny, you just be preparedwith what you say my, my wife
and I are looking at someinvestments, uh, that hopefully
will come through in the nextcouple months and that'll kind
of be her thing and but I'llsupport her.
But my, my night job is I'm a,I'm a father, I'm a, I like the
Seahawks, I listen to music,nice, I cook, you know.

Speaker 2 (12:47):
And Idaho is called God's country.
Do you know the reason behindthat?
I don't.
I was just asking.
I hear some of these sayingsyeah, no, it's really
interesting.

Speaker 4 (12:56):
I think it's in the wrong section of the country.
I think it should have beenlike a Bible Belt state based on
, you know, driving around andevery corner has a church and
every you know it's a veryinteresting farm and churches.
That's what's here.
I need that life, but I don'tneed the cold.

Speaker 2 (13:18):
No, I like the small town farm.

Speaker 4 (13:21):
Yeah, I remember I'm the Jewish white southern
california the last 30 plusyears.
And now I'm like david, I think.

Speaker 1 (13:30):
I think it has a lot to do with the lds churches up
there.

Speaker 4 (13:33):
There's quite a bit yeah, yeah, utah um, idaho was
founded by a lot of the ldsgroup moving West through Utah,
from Utah.

Speaker 1 (13:45):
So yeah, the only reason I know that, cause I've
got a ton of family down inIdaho, Wyoming and Utah.

Speaker 4 (13:51):
I don't believe you anymore LDS population?

Speaker 2 (13:55):
Yes, yes, I do not believe him, because it doesn't
matter where we go, who we talkto he's like oh.
I have a ton of family there.
Like you, name the state andhe'll tell you he has a ton of
family there.

Speaker 3 (14:07):
Like you can think of it, even outside of the states.
He's like I've got a ton offamily in Canada.

Speaker 2 (14:11):
I'm going to go up to Vancouver.
I'm going to stay with a ton offamily.
I'm going to Texas.

Speaker 1 (14:20):
I'm going to stay with validate the claim.
That's why, if I plan to move,I have to choose a state where I
have no family, like, forexample, south Dakota would be a
one of them, because I don'thave family over there.
So if I plan to move a state,that's one of my options.

Speaker 4 (14:35):
Then you'd be.
You have to become reallypassive, aggressive.

Speaker 1 (14:38):
Yeah, that would be tough.

Speaker 2 (14:42):
That would be the end of this podcast Together.
We'd do our own Last questionon the intro, because poor
Danny's over here waiting tospeak and she probably forgot
what she was going to say.

Speaker 4 (14:56):
What is Hypewear?
Hypewear, it's kind of likeSupreme clothing rappers,
musicians.

Speaker 2 (15:03):
So it's a clothing company that they're starting.
Are they doing their own?

Speaker 4 (15:05):
It's a style.
Yeah, so they have a bunch ofdifferent brands that they are
buying at very reasonable costsand they're reselling.

Speaker 2 (15:14):
So they're reselling clothing through a store called
hype wear.

Speaker 4 (15:18):
Through social media.
Basically, you do a lot ofInstagram posting.
You go to concerts, you gooutside, you know, you go to
festivals and you send me ashirt and I'll wear it?

Speaker 2 (15:30):
Yeah, no, I will, but yeah thank you very much, and
we'll go back to the other.
We might not even get to whatwe wanted to talk about today
with everything the wayeverything's going.
Danny, how about you Tell us alittle bit about yourself?

Speaker 3 (15:45):
Am I there?
Be ready.
All right, I'm ready.
Dani Ozy, I'm based inCalifornia.
I've been with Paysand forabout three years now.
It was my first job out ofcollege.
I started in the salesdevelopment side of the house
for the first couple years, theneventually moved my way into
the partner channel.
So I'm now managing ourMicrosoft and Acumatica partner

(16:08):
relationships and I've been inthe channel in the Business
Central channel for about a yearnow.
So I'm kind of a new kid on theblock.
But David's been definitelyshowing me the ropes.
I've learned a lot from him,but I love meeting new people
and relationships.
I'm just learning to apply thatto my work and this channel and
super excited to kind of embedmore into the Microsoft

(16:30):
community.
But as far as more personally,I spend the majority of my time
outside of work with my animals.
At home I have horses and dogsand plenty of little creatures
to take care of.

Speaker 2 (16:42):
Horses yeah, I want a horse.

Speaker 3 (16:45):
I love it.
They're my daily therapy andit's very nice to sleep off.

Speaker 1 (16:49):
What kind of horse?

Speaker 3 (16:50):
I have a Spanish Arabian.
His name is Moose.

Speaker 2 (16:54):
And you get to ride.
I've never been to.
California, by the way.

Speaker 3 (17:00):
There's a lot of horses out here, a lot of land,
a lot of fun and you're thereside of California.
I'm in Central Post Santa Cruzand yeah, there's a big horse
community out here.

Speaker 4 (17:11):
We have to debate about that.
We have to take out a map.

Speaker 3 (17:14):
If it's central, oh, yeah, David argues with me.

Speaker 4 (17:19):
We would always call San Francisco the Bay Area.
It's Northern.

Speaker 1 (17:25):
California, but it actually is if you look at the
map?

Speaker 3 (17:28):
yes, a little bit south it's smack dab in the
middle of the state on the coast, so it is known as the Central
Coast.
So I had that argument withDavid.
I think I won that one.
I circled it on the map, I waslike this is where I'm at you
measured it.

Speaker 2 (17:40):
Chris on the edit pull up a map so I can see where
this is.
We'll pull it up and zoom in onSan Francisco and Danny's area.
So you have a horse.
That must be amazing.
I had chickens.
I miss having the chickens.
I wanted chickens and goats.
I'm contemplating getting themagain you should.
Eggs are expensive right nowEggs are expensive, but I'm

(18:03):
getting older and it's a lot ofwork to take care of animals.
But chickens you can stayoutside with chickens invite
other animals well, that's theother thing.
I never had a problem with thechickens.
We had a lot of coyotes andwolves coming around.
Some people say they have ratswill come around because of the
food that gets left over.
It depends.
I mean, mine were far enoughout in the woods and we had some
hawks coming around every nowand then, but they, they were

(18:24):
fine.

Speaker 3 (18:26):
Uh poor little guys are really susceptible to any
kind of predator.
We lost a lot of chickensgrowing up in my life and I.
I created such closerelationships with them too, and
I was so.
I was my girls.

Speaker 2 (18:37):
I had 18 of them.
I had roosters and they used toeven hatch.
I used to hatch chickens too,naturally, like the chickens
would on them.
A couple of them decided theydidn't, because a lot of stuff
gets bred out of them.
They say, when you buy thechickens because you buy them
for meat or you're buying themfor egg production.
And I was fortunate that I hada couple that still had that

(19:01):
motherly instinct and I wouldleave one of the boxes with the
eggs in there and they would siton them and if they would hatch
, they would hatch, and if theydidn't, I would just take the
eggs and throw them back andthey would eat them.
Welcome to the channel.
You've been in for a year.
It's a great community.
We're happy to have you in.
I too have a pleasure meetingeverybody and I like to see you
know, with Business Centraltaking off as it is, with the

(19:22):
growth, to see many of the newmembers coming in is great.
I enjoyed speaking with you andmeeting you in San Antonio as
well.
And you guys have talked aboutAcumatica.
Do you want to know for thefirst time?
I looked up what Acumatica wasthe other day.

Speaker 1 (19:35):
I really didn't even know what it was.

Speaker 2 (19:37):
I didn't know how big it was.
I didn't know a lot about it.
I had a stint in Acumatica?

Speaker 1 (19:41):
No, you didn't.

Speaker 3 (19:42):
For a year.

Speaker 1 (19:43):
yeah, it was like early stages of Acumatica Cloud
ERP.
Right, they were like the CloudERP.
I did some work for a client upin Vancouver area implementing
Acumatica and they were movingaway from NAV so that was very
fun to do.
So I did that for a year.
But yeah, acumatica.

Speaker 4 (20:04):
It is a really interesting community.
I love it.
It really reminds me of the oldGP community and partly it is
because there is such a hugecrossover.
When John Roscoe left Microsoftand went and became the CEO of
Acumatica, you know, andMicrosoft didn't have a cloud
product at that time hebasically cannibalized the GP

(20:27):
partner community and paid themvery, very well to move GP
customers to Acumatica andthat's kind of where it gained
its momentum.
But it's very small, verycommunity, you know very tight
community which is now like theBC community, has become very
similar to.
I think they kind of there'sthat argument of you know which

(20:48):
community is closer?
And you know, you know, if youknow, I've been in a lot of both
GP rooms and BC rooms andthere's definitely different
personalities as you cross those.
But I find the community atAcumatica is really close.
The product itself is solid.

(21:11):
It's got its own industryversion, it licenses differently
, but I think it serves a verysame ICP.
You know the ideal customerprofile for Business Central is
very close to an Acumaticacustomer and I think a big
difference is, like you know, Iremember when I was selling

(21:31):
Business Central, if you were aGoogle shop, you know, and
you're a G Suite and not anoffice shop, some of the value,
some of the value of BusinessCentral goes away and Acumatica
is more agnostic.
It doesn't really matter whatyou're operating.
You know if you're heavy inExcel or Teams or Power BI or

(21:54):
all the things that are greatwith the Microsoft stack and
Business Central, I'd say youknow if you're a Google sweet
shop and you don't need a hugelike NetSuite's a bit more
robust, I think than anAcumatica lift.
So it really fits that likesmaller mid-size, but I mean

(22:15):
we're talking to a $350 millioncompany right now.

Speaker 2 (22:18):
For Acumatica.

Speaker 4 (22:19):
I think on Acumatica, I think every solution has a
customer.

Speaker 2 (22:24):
I mean, I think every product can have a customer.
I don't think there's one sizefits all and I think, as we talk
about regularly, I thinkchoosing the right tool to do
the job is what's important, andI know we have some bias for
Business Central.
I know I do at least.

Speaker 1 (22:40):
But it's called Dynamics Corner.

Speaker 3 (22:43):
It's way off the Acumatica.
No, no, we can talk.
Listen, I am an equalopportunity, promoter of
everything.

Speaker 2 (22:50):
Because in order for any of us to be successful, we
need to have an understanding ofwhat's out there.
Because if I am going tocompare something between
somebody, see, I'm losing mysteam.
If I am going to comparebetween Business Central and
Acumatica, I need to be aware ofAcumatica and if I'm going to
do the proper thing for acustomer, I should be able and

(23:12):
they want to know about the two.
If I could give them someinformation there, I should be
able to give them somealternatives.

Speaker 4 (23:18):
I mean they did a really cool thing.
They've got these industryoverlays.
I mean they came out withindustry overlays this year.
They're additions, they callthem.
So if you're a professionalservices company, then this is
the Acumatica you're going toget.
It's the same Acumatica, it'sjust skinned a little
differently.
It has different out-of-the-boxfunctionality, more designed to

(23:41):
a vertical, and I mean BusinessCentral can be doing that
really strongly, but they'rerelying on the partners to come
out with a version of.
You know, I'm going to be theconstruction version of business
central, um, and you skin ithowever you want it.

Speaker 1 (23:58):
It's like powered by business central right, like
this product powered by you justgo.

Speaker 4 (24:04):
It's askew and acumatical.

Speaker 2 (24:06):
There's some psychology behind that, because
I remember early on in myimplementations I worked with
companies in a specific verticaland they thought that that
vertical was so complicated andthey had like industries, not
industry.
They had like specific rulesand challenges from everybody
else.
Do you want to know what theywere?
They were a manufacturer and Itried to explain to them.
I said you can make acalculator or you can make your

(24:28):
product.
I said you still have a bill ofmaterial, you still have
routings.
You know it's all the same andit's called evidence and credit.

Speaker 4 (24:35):
Right At the end of the day, it's evidence and
credit.
It's a different name.

Speaker 2 (24:46):
I mean, you're still manufacturing and producing and
forecasting how people who aremaking a different product and I
don't speak light of that.
Now there is some industryknowledge in some areas and how
they come up with certain things, but ultimately, as we're
talking about, it's the same.
Last question, attica, becausethen I want to learn a lot about
the both of you real fast.

Speaker 4 (24:59):
I do.
I run a um erp.
What is erp session for ouronboarding?
So we have like six new hires.
I'm doing one tomorrow.
It's an hour-long session forour company and I just say like,
at the highest level, it's thefront door to the back door of
the building of a business, likeeverything comes in from the
front door and goes out the backdoor.
It doesn't matter what you'redelivering, but that's what it

(25:22):
is.
It could be services, it couldbe services, it could be a
product, it could be a project,it doesn't matter.
But that ERP system allows youto do everything from your front
door to your back door.

Speaker 2 (25:33):
It is a great way to put it.
I like that.
And last question for AcumaticaDoes Acumatica have the same
extensibility or developmentthat Business Central has, or is
it something that you implementand you get what you get?

Speaker 4 (25:50):
It's configurable.
There are developers that candeal with With it.
It is based, from myunderstanding, on the technology
that SL was built on.
So the SL team, the Solomonteam, actually is what the

(26:11):
software architecture is builton Interesting.
I don't know, I'm not adeveloper, but that's what I
understand.
So for our solution we'releveraging APIs, got it Like,
yeah, very API-driven, if thathelps.
But it's not like that Legoblock that I describe you know
Business Central as a stack ofLego blocks.
You know Business Central.

(26:32):
Microsoft gives you all theblue ones, which is the core
application, and you are an ISVand you, or your part, you want
to do something different.
You open it up, you put youryellow block in there and now
that yellow block comes outduring the upgrades.
Hopefully it works when it goesback in.
If not, it's sitting on theside, someone steps on it and

(26:53):
hurts their foot and the blueones continue.

Speaker 2 (26:56):
That's another great analogy.
I have the red ones and thegreen ones over here.

Speaker 1 (26:59):
You can have the yellow one yeah, I did have to
look it up because I, you know,trying to think back of how it
was developed I didn't do anydevelopment against akumatica,
but it looks like it's.
They are running on c sharp dotnet and aspnet.
They do have their own platformframework called xrp um, but
they also use html5 things likethat.

Speaker 2 (27:22):
So yeah, and this is why we have chris gpt say I have
to, I usually stall, justenough for him to look this
stuff up and give us the factshe's 2025 he's pulling through.
So we we had a little bit oftalk.
But now, paystand, we had theopportunity to speak with you
before uh, new year, new, uh,new crew.
In some sense we have now havethe addition of danny with us.

(27:44):
Can you tell us a little bitabout paystand and how paystand
can benefit somebody who's usingbusiness central?
You want?

Speaker 3 (27:54):
me to take that one, david, I'd love to let's do it
elevate a pitch all right.
Well, it'll be a little longerthan 30 seconds so uh well, yeah
, we're.
We're an accounts receivableautomation and B2B payment
solution that integratesnatively with Business Central.
We all know AR is a supercrowded space, but I'd say that

(28:15):
the three main differentiatorsof our solution consists of a
few concepts.
So that first concept isgetting your revenue in the door
as quickly as possible.
That first concept is gettingyour revenue in the door as
quickly as possible.
So by offering click-to-paylinks on invoices, offering more
digital payment options,enrolling your payers in
auto-pay or collections plans,we can really help merchants

(28:36):
speed up that time to cash andget those payments in the door
faster.
That second concept is feemitigation.
So typically when a merchant istrying to present a credit card
fee to their payer, you want tohave an alternative option.
That way they're not revertingback to maybe writing a check,
because that slows down yourrevenue collection and increases

(28:56):
their day sales outstanding orDSO.
It also still requiresmerchants to do that manual
reconciliation on the back end.
So we are the only AR solutionin the market today that's
actively trying to move payersaway from credit cards onto our
free network.
For those credit card payments,we encourage our customers to

(29:17):
pass a convenience fee to theirpayers if they choose to pay by
credit card.
But the cool thing is, if thepayer does not wanna absorb that
fee and pay that fee, they haveour free B2B network option to
use instead.
So you kind of have thesedifferent levers that the
merchant can pull to drive theprofitability of their company

(29:37):
in a way for them to mitigatefees without necessarily
burdening their payers with them.
And then I'd say that thirdconcept is just the automation
that happens downstream ofinvoice creation.
So we like to say we pick upthe baton after the invoice has
been created in Business Centraland then we automate both the
cash application as well as thedeposit reconciliation.

(29:59):
Traditional AR providers theytypically stop their automation
process once that cash isapplied.
So we do take it kind of thatone step further and automate
the deposit reconciliation,which is another super manual,
painful process in the ARprocess.
So when our customers hear thatwe can automate that portion to

(30:20):
it, you know they get prettyexcited.
You know they get prettyexcited.
Obviously this is all prettyhigh level.
But I'd say those are the threemain features that kind of
differentiate us and what canadd value to someone's business
central environment.

Speaker 2 (30:34):
And I have to agree with you.
I think those are three veryimportant points that you had
brought up, or three importantparts of the AR process to help,
you know, bring in cash in thedoor.
I know all the implementationsI go through.
When you get somebody live, yougo live through an
implementation.
That's one of the mostimportant things is we need to
be able to ship our product,invoice our customers and

(30:55):
receive cash.
So anything you can do to speedthat up is of great benefit.
I like the fee mitigation aswell that you had mentioned too,
and I don't even understandhere why in the US with as great
as it is why we still usechecks.
Oh, it's awful, you know sohaving.
I like to see solutions likethis that move people away from

(31:16):
that Because, as you hadmentioned, I think it's easier
for the cash application pointof view.
So, with the AI you mentioned,you have a free network and you
can deal with the credit cardsand the credit card processing.
When it comes to paymentprocessing, I'll use payment
processing.
I know it's for the accountsreceivable side in this case.
Is it if they have their ownpayment network already, can

(31:41):
that work with yours, or wouldthey have to switch over
completely to your network thatyou have?

Speaker 3 (31:47):
yeah, so we act as both the gateway and the
processor, so they would need touse us for for both services.

Speaker 2 (31:53):
Um, so that's kind of how that structure, how it's
structured at least okay and forpaystand to use the application
that you have for the ar I'llcall it ar automation to
simplify it for thisconversation.
I want to get more into detailwith this because I have a lot
of questions about this fromsome recent conversations.
Who is the target customer orwhich type of business do you

(32:17):
think would benefit the most?
I mean, obviously it's nativethat when I say native, it's
integrated within BusinessCentral so they don't need to
use a separate product.
Correct, correct.
And is there a particular typeof customer that this would be
applicable to, or to aparticular industry, or is this?

Speaker 4 (32:33):
I love that question, brad, and I'm going to step in
because this is one of ourchallenges.
We're the new kid on the block.
We're trying to get like Dannysaid, it's a crowded space and
you sit there and I see allthese really cool successes that
the VARs are doing.
They're all talking about theirbest year ever and we closed 12

(32:54):
deals this quarter andcelebrating all these wins.
And then we don't get thatphone call and we're like, well,
like, isn't everyone collectingrevenue?
Like there isn't a company outthere that doesn't collect
revenue.
You know why would they be in abusiness?
Like there has to be a revenuesource, I would imagine, for

(33:16):
every company.
So you start at that really high30,000-foot level.
Do you collect revenue and areyou invoicing out of said ERP?
Are you using Business Centralto send out your invoices?
So that's the first check mark.
Then you come down to how manyinvoices, what's your volume,

(33:37):
type of thing.
So we kind of see customersthat are doing 300 to 500
minimum invoices on a monthlybasis and the reason we see that
is because the downstream,upstream, downstream, whatever
the results of those invoicescreate collection challenges.
The higher the volume they are,there's higher collection

(33:59):
issues.
You have DSO problems.
You have, you know.

Speaker 2 (34:04):
What is DSO?

Speaker 4 (34:05):
Day sales outstanding .
So you know how is DSO Daysales outstanding?
So you know how long is ittaking people to get paid?
So your AR agents, larger bankreconciliation, deposit
reconciliation, cash applicationall of that increases the
larger volume.
So our ideal would be you know,lots of invoices, average-sized

(34:26):
dollars, that's the best ROI.
And then you look at things likeyou do.
Look at are they having aproblem with getting paid faster
?
Are they paying a lot in creditcard fees?
Because we don't negotiatecredit card fees, we have a fee.

(34:47):
It is what it is.
We pass through basically thefees because that's not where we
make our money.
So our other competitors are oh,can you scrape a basis point
off?
Or can you save me one point?
Can you do 1.99 instead of 2.19?
For us it is what it is,because we don't want you to use

(35:09):
the credit cards anyway.
We want you to move it over.
But if you do do the creditcards, we've given you a chance,
an opportunity to add thatconvenience fee legally in all
50 states.
It's not a surcharge.
Big, huge difference because weoffer a free network.
There's an alternative way thatthe customer can pay.

(35:31):
And now you're saying, hey,customer, share my burden and my
cost.
So at the end of the day, it'sreally.
Are you collecting invoices?
Do you have some manual labor,five, ten hours a week, you know

(35:53):
?
Are you spending working oncash application or collections,
or recurring invoices?
I mean, I put out a greatlittle opinion in late.
I think what was it?
V25 or whatever, came out inOctober and they added, you know
, deferred revenue and recurringpayments Well, that's really.
Or recurring invoices Well,that's really cool.
But if you don't have somethingto autopay on the tail end,

(36:16):
yeah, you're saving some timegetting those invoices out.
But with PayStand you have anautopay with a default payment
style method and those checks,those invoices automatically get
paid.
Now, you know, with a free banknetwork, so it's really set it
and forget it, you know.
So if someone's using recurringpayments, subscription payments

(36:38):
, because a lot of times thoseyou know are costly to manage
the only thing that we reallydon't do is the forbidden.
You know, there is theforbidden, prohibited list of
industries and that's typicallythe banking.
That's because of our sponsorbanks that ultimately it's

(36:59):
cannabis today, it's multi-levelmarketing, it's tobacco.

Speaker 3 (37:05):
Tobacco, firearms, firearms, all that fun stuff
leaving out the fun stuff.

Speaker 4 (37:11):
Well, it's, it's fun stuff, no no one in idaho can be
underwritten.

Speaker 2 (37:18):
No no, I understand those specific industries
because there's other federalregulations around those
products.
It's not.
You know, cannabis is onethat's a challenge because it's
not federally legal.
It's legal in many states inthe United States, so you know
dealing with that.
So, to go back to it, I heard acouple of things.
One you said free, so I want totalk about free.
So if I were to simplify thisin Brad's terms right, so I have

(37:40):
a business centralimplementation.
From within business central Ican install the paste, paste.
I sign up for the paystandservice.
There's a, an extension orsomething that I install within
paystand, so I don't need to setup anything outside of paystand
.
Right?
Or another product or anything?
Uh, is a requirement or iseverything within business
central?
Is there any?

Speaker 4 (37:58):
we have an extension that gets downloaded and set up
by our implementation team.
Um, there's GL mapping that hasto happen.
There's customization oftemplates, which are the email
templates that go out to thecustomer, while the email, you
know, to get the PayNow link.
And then we do have an API toour dashboard and our dashboard

(38:22):
is what manages a lot of thestuff.
So we are as much as we areextension-based.
You initiate a posted invoicebut as soon as that posted
invoice happens in BusinessCentral, you can either post and
send you know using traditionalworkflows out of Business
Central.
You can also use like where Iwill pitch.
You know we're strategicpartners with Ben Cole at ERP

(38:44):
Connect Consulting, so hisinvoice and statement delivery
solution is really the onlypayment solution that works with
his.
So you know you don't have torely on that.
But once your posted invoice iscreated, it syncs to my
dashboard and then we also haveour own workflows there.
So we have collection plans thatstart the collection process
and collection doesn't also meanlike late, like collection

(39:08):
could be, just get the feescollected.
So you could be maybe, brad,you're an on-time payer, so
we're going to set you up on astandard collection plan.
You're going to get yourinvoice sent out to you and then
, five days before it's due, anemail is going to go out and
that's going to say, hey, yourbill is due, remind.

(39:29):
And then, maybe 10 days afterit's due, we're going to send
you a reminder.
But Chris, on the other hand,is a late payer.
We're going to remind him 10days before, five days before,
three days after, five daysafter, six days after, 10 days
after, until he is paid.
So all of that's managed in ourside.

(39:49):
The other thing is the pcicompliance piece.
All the um tokens, the storedpayment methods, are actually in
our pci compliance dot tocompliant um secure servers.
You know our side.
So that takes that out of the,the merchant's responsibility.
They, they don't have to worryabout PCI compliance filing.
We do all that, we take thatall on, and so if someone needs

(40:15):
to like call in a payment, theywould go into our dashboard and
pull out the store token andapply the payment there.
So there is kind of a dualscenario.
But honestly, if you have, youcould never go in our dashboard
ever.
If you just create an invoice,post and send and it sets it, it
does.

(40:35):
You know, there's defaultsettings and things like that.
So it's pretty easy.
But there is a.
It is a two-part solution.

Speaker 2 (40:43):
So you hit on one of the key points that I wanted to
get to as we go through theprocess.
So, from the customer point ofview customer of PayStand if
they're using PayStand forcollections or payment
processing of their customers,they don't have to worry about
credit cards, bank accounts oranything because that's all

(41:04):
handled on your system, so theydon't have to worry about again.
I use this loosely they don'thave to worry about the security
of the sensitive, theinformation and you had also
mentioned.
So I create an invoice inBusiness Central.
That invoice gets sent outthrough PayStand, right, it
comes from Business Centralautomatically to PayStandstand.

(41:24):
Then the customer receives theinvoice.
We'll have a payment link whichthey can click.
Uh, you had mentioned that theycould call too.
So if they call, do they call?
They call the the.

Speaker 4 (41:35):
I mean if they okay, yeah, they don't even know
they're using paystand, whenit's a fully branded payment
experience.

Speaker 2 (41:42):
You know um and you had mentioned subscription
billing, and I'm asking thisbecause I was.
Somebody asked me about thisthe other day, to be honest with
you.
Um, again now the subscriptionbilling we won't go down.
The whole thing was what issomething that was also added,
but I've also worked with othersthat you have recurring billing
where it's uh, it's a service.
You have a monthly fee.
Sostand, can you set up thatmonthly fee to automatically

(42:08):
send the information out, orwould you have to set that up in
Business Central?

Speaker 4 (42:11):
You still have to set up the invoice in Business
Central.
But what's nice is if youenroll the customer, they opt
into an auto pay and they store,they select, they deliver their
stored, their preferred paymentmethod Again, this could be ACH
credit card or the PayStandBank Network and that gets saved

(42:33):
and stored and then on the duedate, we just post that payment,
we look at due date and thatwill send out a reminder.
Hey, you've got this storedmethod on file.
You will be charged in one day,two days, three days, whatever
the merchant says will send outa reminder.
Hey, you've got this storedmethod on file.
You will be charged in one day,two days, three days, whatever
the merchant says, if they needa reminder.
If they don't, then it justpays and they get the receipt.

Speaker 2 (42:54):
And that is how you can speed up payment collection
or AR collection, because youwill have someone to have auto
pay.

Speaker 4 (43:03):
Yeah, and if they use the bank network um as their
payment source, they get paid.
Then the, the merchant, getsthe funds the next business day,
whereas an ach could take threeto five days.
You know, sometimes, dependingon the cash flow, that's where
we really start.

(43:24):
You know, what can a company dowith that cash?

Speaker 2 (43:28):
Oh, you can do a lot with the cash.
It's in your bank.
We asked that question and alsoso when the payment comes in,
what is required from thecustomer?
And I use the paystand customer, I'll call it the merchant,
I'll use the same terminology.
So I am a customer of yours,you know, and I pay well and I

(43:48):
submit my payment.
What happens then?
Does the merchant have to doanything in business central or
does it automatically getapplied to the invoice, which
then I'll ask questions about?
What about split invoices,multiple invoices?
Because if I receive 15invoices, I may only pay 14.
I may pay 13.
I may pay $500 and just sayapply it.

Speaker 1 (44:12):
Or half pay on the invoice Partial.

Speaker 4 (44:17):
You want to take that , danny?
I mean the comment is.
I mean the merchant can controlwhat's allowed by the payer.
So the merchant can say you canshort pay or you don't, you
know, so they could prevent that.
We also have open invoicepresentment, so that's another
way that instead of sending asingle invoice out, you send a

(44:38):
link that clicks on andliterally it's a dynamic link,
so they can go to that email anyday of the week.
They can bookmark that URL andrefresh it on a daily basis, and
any invoices that are beingcreated under that customer
number, that customer ID, showup there and they can choose
which ones they want to pay andwhich ones they want to not pay,

(45:01):
which is a really coolexperience, because we do know
that some people like to managetheir own cash on the payer side
and decide which ones they wantto.

Speaker 2 (45:12):
That's where I'm going with some of this because
then also my next question withthat is oh, but to finish up, so
if they select the payment ofan invoice through the dynamic
link that you have, so they cando online payment and, as you
mentioned, they can do ACH, theycan do wire I thought I heard
you say wire right as well noACH credit card and the bank
network okay, so ACH, creditcard bank network, uh, as their

(45:35):
form of payment in thatautomatically, once they have
the payment you said, the cashor the ACH goes in next day.

Speaker 4 (45:42):
Credit cards when the credit card processing network
is next day ACH and credit cardsday credit cards when the
credit card processing Banknetwork is next day.
Ach and credit cards could beanywhere from three to five days
, depending on their bankingrelationships and other things.

Speaker 1 (45:57):
And posting.

Speaker 2 (45:58):
So then the invoice will get or the payment will get
posted once it clears Correct,and that happens automatically.
So the invoice just getsmiraculously posted.
So you have a reduction of time.
I guess you could say um forstaff.
Now I like to control mypayments and I I do pay.
Well, I schedule my paymentsbecause if you give me an

(46:21):
invoice for 10 days, I don'twant to pay today, but I don't
want to pay today, but I don'twant to forget about it.
In 10 days I want to say paythis on the due date.
Is that available in thissolution or no?

Speaker 3 (46:34):
I mean you could be set up on an auto pay sort of
schedule, right, and so thatwould be about the same.

Speaker 4 (46:42):
It would be based on the invoice due date.

Speaker 2 (46:44):
Yeah, that's what I was referencing.

Speaker 4 (46:48):
So if I receive an invoice now, I, the payer,
doesn't get to say pay this onThursday, the 7th.
That is something that theroadmap's looking at.
That's been like I want to goin and choose what day I want to
pay, but you have two options.
You could be on auto pay, whichlooks at at the due date, or
you could just go pay the billso it's a pay now, and then

(47:09):
we'll have the new brad featureof schedule it for next tuesday
that'll be, something that'sbeing looked at for roadmap
we'll add your comments to ourproduct.

Speaker 2 (47:19):
Yes, yes, just say, call it the brad pay just.

Speaker 1 (47:22):
Just refer him to this episode.

Speaker 3 (47:25):
Yeah.

Speaker 1 (47:27):
Listen to all the ideas, yeah.

Speaker 3 (47:29):
I like that.

Speaker 2 (47:30):
No, this is.
I see this Say I'm glad we'rehaving this conversation.

Speaker 4 (47:34):
Chris, I'm learning more and more every time I talk
with everybody, because so ourchallenge is okay, if you asked
us, you know you asked us, youknow how asked us, you know what
is the ideal customer.
How do we?

(47:55):
What do you think you know?
I'd love to hear your opinionsof you, know your professional
worlds, like, how do we get youguys or partners or team out
there to think about AR?
Because you know my opinion,you opinion, I was selling 10
years of ERP and we talked aboutAP all the time.
You talk about warehouse, youtalk about all this other stuff,
but you kind of forget aboutpeople getting paid.

(48:16):
It seems to be not part of thediscoveries, it seems to not be
priorities, which is reallyironic, because the quicker the
merchant gets paid, they canactually make more money.

Speaker 2 (48:32):
The challenges that you have presented that you're
solving I've been talking abouteven way back in the division
days, right, because you hadcredit card processors that
allowed for the credit cardpayments and the taking of
payments, and I even rememberearly on doing customizations
and using external products toallow for those links.
I don't understand as well, aspart of the discovery, why the

(48:57):
collections process isn't sofocused on, and I really do go
back to I think there's still astigma in the US and I think
it's slowly changing because ofI think, honestly, it's.
Maybe you know the way theworkforce is now is a lot of
people are still hung up onchecks, because I worked with
somebody and the only way Icould pay them was by check and

(49:17):
I was floored because I can tellyou I probably wrote.
I can count on my hand how manychecks I've written in the past
four years and when someoneasked me to write a check.

Speaker 4 (49:32):
I literally had to go to the bank to get a check
because I don't even know wheremy checks are.
So I wonder if we're solvingfor that a little bit, go ahead.

Speaker 1 (49:35):
Chris, yeah, that is interesting because I've done a
lot of AR paymentimplementations and I think a
lot of that in my experience isthere's two parts.
One is that during a discovery,typically it's like they
already have a system in place.
You know, they either have aterminal through their merchant
then they just manuallyreconcile and get through their

(49:56):
day.
And also during theimplementation, sometimes they
may not have the time to testthat because their focus is, you
know, selling and purchasingand shipping, but payment
doesn't necessarily happen wayafter shipping is done, so they
may be focusing that.
And then AR payment is after golive, more like a phase two,

(50:21):
and then they're like, oh, weshould be more efficient in this
.
That's from my experience.
And there's many occasionswhere like, oh, we should be
more efficient in this, that'sfrom my experience.
And there's many occasionswhere like, hey, we should maybe
implement this now and thenmake it part of your
implementation and go live, butthat's what I get.
A lot is that, hey, I'm justtrying to ship my product.

Speaker 4 (50:40):
I like that feedback.
Here's the thing that I thinkwe need to.
You know, if anyone's listeningto this and can take, nobody
listens, it's just us.
When people are listening tothis, you know, I think the
nugget is like our solutionagain, not only are we allowing

(51:00):
our customers to drive theirprofitability of their company
our solution of their companyfire solution what that does is
it creates a huge ROI which thenfrees up cash which then can
help pay for that business.
Central implementation andthat's the key is like if you do
business central plus paystandyear one, and I'm going to tell

(51:22):
you, you're going to save$40,000 by using paystand, and
that's a realistic number.
It could be hundreds ofthousands of dollars, but basic
$30,000 ROI first year is veryeasy if you just turn on our
system.

Speaker 2 (51:38):
I like that.

Speaker 4 (51:42):
Then the bar can take that $30,000 and put it towards
the implementation and kind ofclose that deal better.
And that's where we struggle inworking with bars and working
with the channels, getting thatmessage.
That's why the earlier the dealis, we could go post-live, you

(52:04):
go live and we'll implement thenext month, like, but just think
of us in that package.
You know, it's kind of how Ithink it's important.

Speaker 2 (52:13):
You know, hearing you say that and hearing what chris
has to say, I understand it'sthe focus of the importance.
But even if you don't want todo it until afterwards, having
the plan up front could beimportant, because you do need
to receive cash and it's it's.
I talk with many on goingthrough the implementations and
a lot of times they want tobring the same processes
forwards but then you don't getthe efficiency of it.
So if you're going through anupgrade or an implementation of

(52:34):
business centrally, you get theefficiency of your cash
management.
That's a.
That is a savings, because thenyou can also cut out checks
getting lost.
You can get out missapplication and also now, if
it's free, all right.
Is the whole app?
I don't need to talk numbers.
Is the whole application freeor is it just that the bank

(52:55):
network's free, or is there?

Speaker 4 (52:56):
We are a for-profit company, you know so.
You know we do have to, youknow so.
We're a SaaS company.
We're selling the software.
So we look at the revenuethat's coming through our
organization and we put you in amonthly tier.
It's a fixed price, though, soit's a tier.
It's like your Apple storage.
You know, if you are within atier you're between $5 and $10

(53:20):
million you pay a certainmonthly price and what's great
is, you know, with mostcompanies having 5, 10, 15%
annual growth, like at the endof the day, if you're in that $5
to $10 million tier and you'rea $6 million company, you got a
lot of space to grow withoutyour price changing.
You know, whereas, everymillion dollars you collect
revenue that's 30, and it'sbeing paid by a credit card,

(53:46):
that's $30,000 of hard cost thatsomeone has to pay either the
customer or the merchant butsomeone has to pay that to
collect that million dollars.
They're paying $30,000 a yearbecause the average credit
card's about 3%.

Speaker 2 (54:01):
And then if you're having a person receive the cash
, they have to apply the cashthey have to apply the cash they
have to deposit the cash, giveyou thirty thousand dollars of
roi very easily because you justmove them.

Speaker 4 (54:13):
because what we find is, as soon as you offer someone
a free alternative paymentother than you sharing that
burden or that cost, they choosethe free option, and it's
typically 40 to 60% immediately.

Speaker 2 (54:29):
I would choose the free option to pay, but I would
choose the free option to pay asthe last day possible.
I mean, that's how I roll,because that way it goes both
ways.
Because now the merchant whichwe talked about that's what
we'll say gets the cash sooner,even if it's a due date, because
you're going to forecastreceivables anyway, and then now
, as a payer, I can pay it, keepmy cash as much as possible, so

(54:50):
I don't have to outlay the cashfor a check.

Speaker 4 (54:53):
You can extend your full terms, accept your terms,
go on auto pay and on that duedate, whatever it's net 15, net
30, net 45, net 60, whatever.
On that due date, whatever it'snet 15, net 30, net 45, net 60,
whatever on that due date, it'sgoing to pay it.
Yeah, I like that and you've gotplenty of time to review it,
negotiate if there's a problem,but just get them on auto pay.
That's our most successful.

(55:13):
The fee's not going to.
You know checks.
You mentioned a lot of issues,but you forgot about
insufficient funds.
Achs are insufficient.
I could send you, brad,$100,000 ACH today with only
$1,000 in my bank account.

Speaker 1 (55:29):
Really yeah, can we test that?
Can we test that.
Can you send it to me?

Speaker 4 (55:34):
Well, here's what I mean.
Let me reverse it.
Let me reverse it.
I could send you a $100,000 ACHif I have $100,000 in my bank
today, but by the time itreaches you, I might not have
$100,000 in my bank anymore.

Speaker 2 (55:48):
But I still get the $100,000.

Speaker 4 (55:51):
No, you don't.

Speaker 1 (55:53):
It doesn't make it right, Because you have to wait
until it clears.

Speaker 4 (55:55):
You have to wait until it clears, whereas in our
solution, because of ourblockchain technology, when
someone goes in and verifiestheir bank account.

Speaker 1 (56:05):
That you have funds.

Speaker 4 (56:07):
There's funds.

Speaker 1 (56:07):
And if there's no funds, they can't.

Speaker 3 (56:09):
Yeah, go ahead it shows which bank account has
sufficient funds and so the onethat does not have.
If there's an account thatdoesn't have sufficient funds,
it's grayed out andnon-selectable.
So they're only able to selectthe account that has those
sufficient funds.
So it really mitigates thatrisk factor.
With ACH not having enoughmoney in that account to

(56:29):
complete that payment, businesswaits for the payment.
It doesn't happen, then maybethey cut you a check like a week
later.
So the time to cash is justreally long.
So that's one way we're able tokind of eliminate that process
with that instant fundverification that David was
saying.

Speaker 1 (56:55):
Yeah, I think you made a great point earlier,
david.
Why don't you want to get paidimmediately for customers or
clients of yours that wants topay now and not wait for two
weeks until his due date,because sometimes client wants
to pay now?
These are the questions.
If you don't have that option,it's hard.

Speaker 2 (57:12):
No, these are the questions.
I'm getting quiet because I'mactually visualizing this now
because it's how often do youhave insufficient funds?
You know we have what we callbounce checks, I guess back in
the day you know, and then alsowith the late payments.
You know these are the sellingpoints.
To get this up front because,even right there, because with

(57:34):
insufficient funds there's acost to that as well, not only
to the payer but to the merchantfor receiving and trying to
cash an insufficient funds.
Check ACH is another story thatyou talked about.
But I'm still waiting for my$100,000.
I'll give you my bank accountafter if you want.

Speaker 1 (57:52):
But that is a risk, right?
Because you can have an invoicewhere you have due date coming
up and then you receive thatcheck and then you enter it, you
post it, but the check may notclear for a couple more days and
you realize there is no fundsand it bounds.
And then now you're going to goback and you know, adjust that
invoice, reverse it.

Speaker 4 (58:13):
I've seen that and by default, that net 30, that you
know the, the customer, thepayer sends the check in, you
know, day day 25, through the USPostal Service.
Well, you know, we know Canadais having a postal strike right
now.
So I mean, who wants to truston the USPS right now to get a
check across?
So let's say they do get it bythe due date, okay, then they

(58:37):
post it, and then again fundsare two, three, four days later.
I mean, you're now not, youhave late payers.

Speaker 1 (58:47):
Yeah, and then you send a statement.
They're like I already sent mycheck Exactly, it hasn't cleared
yet.
Yeah, yeah.

Speaker 3 (58:56):
That requires that merchant to you know, give them
a call and have that awkwardconversation over the phone.
It's not fun.

Speaker 1 (59:03):
Yeah, time taken from you know an employee to have
the call and have that awkwardconversation over the phone.
It's not fun.
Yeah, time taken from you knowan employee to have the call and
make that collection.
It just it adds up, you know,within that 30 days.

Speaker 3 (59:12):
It's really common to you have, like, sales teams
making these calls forcollections at some merchant
companies.
It's it's pretty wild, soeliminating a lot of that.

Speaker 4 (59:20):
Yeah, and then it's pretty wild, so eliminating a
lot of that, yeah, and thenthey're not selling, they're
collected on sale, Like you knowwhere's the deposit?
Yeah, I mean.

Speaker 3 (59:28):
Well, part of it is with automation.
At least it's giving that teamthat you know accounts
receivable or accounting teamtime back to actually do more
value-added work rather thanlike manual data entry and all
that repetitive stuff.
That's just, it's not supervaluable to scaling the business
, so it really helps.

Speaker 4 (59:49):
I do want to build because we do know behavior.
And, brad, you mentioned, we'reall shocked.
Everyone on this call isshocked how many people still
write checks.
Okay.
So we're solving for that.
You know some exciting stuffcoming this year, hopefully in
the first half, closer to whenthis airs.
But you know people havelockboxes, you know they operate

(01:00:11):
on lockboxes, they exist, wehave lockboxes in our other
ecosystems.
We will have something to talkabout in the business central
space, but again it kind ofdefeats our purpose of our core
mission.
So it is a late addition.
It's kind of like there,because we have it with our
other ecosystems and somecustomers want it.

(01:00:31):
But again, that capturesadditional revenue that some
companies will just always havepayers a portion of their payers
, you know, using a lockbox, soyou know.
And then there's a smart scan,which is really cool, smart
check scan.
So there are payers thatactually will always want to
burn a check.
But now in our paymentexperience we're going to give

(01:00:54):
them a QR code where they cantake a picture of the check and
just use that check and it comesin as an ACH reality because
that's all a check is.
A check is a paper form of anACH.
It has a routing number, it hasan account number and it has a
check number.
That's the only difference.
So it burns that check for thepayer.
So it satisfies that.

(01:01:16):
The flip side is it istraditional ACH, so there's a
little bit of cost there.
But the merchant can offsetthat with a convenience fee if,
hey, you don't want to send acheck.
But the other side is itmitigates some of the
insufficient funds.
The person doesn't have to lickan envelope and put a stamp on

(01:01:40):
it and risk the mess.
Gotta lick an envelope.

Speaker 2 (01:01:44):
People used to get sick from licking and stamp.
Yep, you used to get sick fromlicking those.
Remember the sponge.

Speaker 4 (01:01:49):
Forever stamps.
Right, I still have foreverstamps, but I think I bought 48
cents at Costco and now it'slike 80 cents.

Speaker 2 (01:01:56):
I don't even know what a stamp is today.
Thankfully, I don't have tosend too much to the mail.
So I do have another questionfor you.
But you mentioned the scanningof a check.
Do you know scanning of thechecks?
It's called Check 21.
Did you know why that started?

Speaker 4 (01:02:07):
Yeah, I know exactly why that was established because
of 9-11.
Exactly.

Speaker 2 (01:02:11):
And ready my brief hiatus from ERP and Business
Central and Division, I went towork for a software company and
managed the development of thecheck 21 processing.

Speaker 4 (01:02:27):
Awesome.
So we, I think check 21 isbrilliant.
I mean it.
I mean our financial systemsstopped because of 9-11.

Speaker 2 (01:02:33):
That's exactly where it came from, so that you're
able to scan your check.
So we used to work with thatwhole thing with interfacing.
Danny has no idea what we'retalking about.
You know you used to go intothe store and buy your tires,
and you'd have to write a checkbecause credit cards weren't as
popular back then.
This is 2003?
.

Speaker 4 (01:02:51):
There were 28% credit cards.

Speaker 2 (01:02:53):
Yes, exactly, that's why they weren't as popular, but
we also did the Check 21processing and the credit card
and the merchant processing, andthen we would also bundle those
checks and route them to theappropriate bank to clear and
give it to the merchant so theyget their funds back.

Speaker 4 (01:03:07):
a little tidbit for you so check 21 did danny was
basically image the check toaccelerate the processing, kind
of said oh well, you have animage, let's scan it so we could
start the moving of moneyfaster rather than waiting for
that to actually go and clear atthe clearinghouse, because 9-11

(01:03:29):
shut down airplanes and checkscould no longer go through.
We couldn't move mail Like wecouldn't, you know, and so they
said that's why you needed theB2B network.

Speaker 3 (01:03:41):
Yeah, so you ignored all that and just use.

Speaker 4 (01:03:43):
I mean, that's our story.
I mean, if you think about whyJeremy started this company, he
was so upset with like paying,you know, like to access your
own money, if you think aboutthat, you know.
So you have all theselimitations, the credit cartel,
you know, he calls it the bankssystem that they make money on.

(01:04:07):
As companies' revenue grow, asyou, as the merchant grows, then
your cost to collect revenueincreases Again, every million
dollars is $30,000 plus softexpenses.
So let's get rid of that,$30,000 plus soft expenses.
So like, let's get rid of that.
And then what happens is, withour model, as your revenue grows

(01:04:28):
, your cost, your percentage tocollect revenue, your cost
percentage costs to collectrevenue, decreases.
I mean, we've literally lowered, like the dips of someone's
collections from like you know,paying 3%, three and a half
percent down to like below 1%,like 1.1.

(01:04:49):
, like as an average collectioncost over time because of how
we've been able to control withthose levers, how the merchant
can use those levers to changehow payers behave.

Speaker 2 (01:05:08):
I understand how this all works and I think it's a
great service and I'm with you.
Maybe I have a question of whynot so many are using a service
such as this within theirimplementation.
We talked about the featuresand functionality of it.
We talked about, maybe, thetiming of the implementation,
but somebody who's going to usethis service, what should they
expect for an implementation?
How long does it take?

(01:05:30):
What are the requirements theyneed to have this set up?
You know what's involved.
So if I am a merchant and Iwant to start using the paystand
service with my businesscentral implementation, or even
in the sense of there's apartner that wants to start
implementing this with theircustomers because their
customers, in the same case,they are merchants and they're
selling and receiving cash whatwould they expect for an

(01:05:54):
implementation?
What does an implementationlook like as far as timing and
how long and timing as far aswhat's involved?
How much time should someoneexpect to spend on it?
What type of requirements thatthey have to get started with it
?

Speaker 4 (01:06:09):
Annie go ahead.

Speaker 3 (01:06:12):
It's about a five to six week implementation process.
We do all the heavy lifting onour side.
We only really require aboutfive to six hours of the
merchant's time forimplementation.
That's typically going throughtesting, branding, getting your
marketing materials all set up.
So, yeah, it's very minimallifting for the merchant.

(01:06:33):
It's a relatively fastimplementation.

Speaker 2 (01:06:37):
So the time required for a merchant is five to six
hours, but the duration forfinancial setup is five to six
weeks.
So I understand that part issometimes it requires the banks
and I've worked with banksbefore and they're slow, so the
setup of the financialtransaction is to make it take
some time.
If working with a partner toimplement this for a one of

(01:06:58):
their customers, is thissomething that the partners
would implement, or is thissomething that you would
implement?
Or is there some sort ofrelationship where they can
implement it and you assist, orwhat does that look like?

Speaker 3 (01:07:10):
Yeah, I'd say we take on the brunt of that
responsibility, but we involvethe partner as much as they want
to be involved.
So really it's just dependingon how involved they want to be.

Speaker 4 (01:07:23):
I think our version 2.0 eventually would be.
You know who are the partnersthat want to do it, but you know
I was a partner.
You guys are partners, like.
At the end of the day, youtypically don't want to deal
with that.
It's hard enough to staycurrent on Business Central, so
like, let us do it, type ofthing.
But I will tell you thatsometimes it's the Azure

(01:07:45):
permission access, like to getthe cloud services or whatever
like to be able to get us to beable to administratively install
our extension and some userrights stuff that typically most
business central users have noidea what they're doing.
You know they have to lean intotheir partner for an hour, you

(01:08:06):
know, to kind of get that done,but some admins in Business
Central absolutely know how todo it.
You know we don't consume alicense.
It's not like someone has to gobuy an extra Business Central
license but we do need to getaccess, the right access to
Business Central to do what weneed to do.

Speaker 1 (01:08:26):
How about.

Speaker 4 (01:08:27):
It's easy.
It's like $3,000 to $6,000,depending on number of companies
, number.
You know to do it, so it's areal easy lift.

Speaker 2 (01:08:34):
It's easy for the benefits you can get.
So we talked about thetimeframe, we talked about what
the expectation is for theimplementation.
What are the prerequisites forimplementing this?
Now, what I mean byprerequisites is what does the
customer need to have set up?
Maybe financially the merchantSee I'm going all over the place
what would the merchant need tohave set up if there's any
prerequisites financially, butalso within Business Central?

(01:08:55):
So if they're going through theBusiness Central implementation
, when would be a good time tostart this process through their
implementation?
They need a GL.

Speaker 4 (01:09:04):
They need a GL because we have to do mapping.
They need to have an item sothey can create an invoice and a
customer.

Speaker 1 (01:09:13):
A standard.

Speaker 4 (01:09:14):
Yeah, a sandbox implementation would be.
You know we run a couple $1, $2fake.
You know transactions.
You can send those to me.
You know kind of you know, soyou know, and then we either
void those out or whatever.
But you know a signed contractcustomers do go under
underwriting.
Typically it's they need awebsite.

(01:09:38):
So startup companies that don'thave a lot of history may be an
issue that's a typicalunderwriting thing but they have
to have a lot of history may bean issue that's a typical
underwriting thing but they haveto have a website at a minimum.

Speaker 3 (01:09:49):
Like six months, six months of statements, Six months
three to six months ofstatements yeah, bank statements
, credit card statements, justproof of revenue, type of thing.

Speaker 4 (01:09:59):
Our underwriting process is one to two days,
whereas I do know, other placescould be weeks and lots and lots
of back and forth and stuff.
But it's, you know, becauseagain our goal is we're really
underwriting the credit risk ofthe bank-to-bank network at the
end of the day, like you know,because we're taking on that

(01:10:20):
risk of you know, know yourcustomer average deal size,
things like that.
So we get all that informationpost-signature, we can do it
before signature.
But our sales reps typicallyknow what type of customers
they're working with and setsome expectations Industry.
Obviously we eliminate prettyquickly um, um, it's real easy.

(01:10:43):
So literally you could be livein five weeks, six weeks from
signature, if you you know, ifyou need it to, I've done it in
two weeks.

Speaker 1 (01:10:55):
Also, if you know we're late to the bus, um, but
uh, if you're doing testing forthis dollar, ach, you can send
it over to you.
You don't have to void it, it'sjust a dollar.

Speaker 4 (01:11:05):
Exactly.
Why don't you just?
Send it to your bank.

Speaker 2 (01:11:11):
Does anyone do micro deposits before?
I remember way back in the daywhen I was setting yeah, it used
to be like if I would set upsomething for a bank transaction
like oh, you'd see a smalltransaction, yeah, two, three
cents.

Speaker 4 (01:11:24):
It's like a penny.
I've seen that on a couplesubscriptions.

Speaker 2 (01:11:26):
I haven't seen that I haven't seen one of them.
I haven't done anything in awhile.
I don't do anything.

Speaker 4 (01:11:30):
I live a boring life but yeah, and then you, just,
you know, we, we invoice either,you know, depending on the deal
, it's either a 12 month, youknow, an annual or a monthly
subscription.
Um, it's an annual contractwith either an annual or a
monthly subscription.
It's an annual contract witheither an annual payment or a
monthly subscription, dependingon the negotiations.
We have a great referralprogram for our partners.

(01:11:51):
They get paid on thesubscription to do nothing, to
just give us the leave.

Speaker 2 (01:11:58):
That's what Chris likes the best to get paid to do
nothing he knew exactly whenyou hear him, he started
laughing because he knew exactlywhere I was going with that.
Chris wants to get paid to donothing.
Yeah, I think everybody does,but I tease him, it is.

Speaker 1 (01:12:14):
It's the mailbox money right.
Mailbox money, that's what Icall it Mailbox money.

Speaker 2 (01:12:17):
Mailbox money.

Speaker 1 (01:12:19):
So, support-wise David, when you're implementing,
who manages the support?
Is it something a VAR wouldhave to deal with, or is it
directly with Paystand?

Speaker 4 (01:12:29):
We put an implementation manager on the
project from day one.
But what's really cool is wealso assign a customer success
manager to that merchant and wedo that at day one.
That customer success manageris who's going to manage that
customer post-implementation.
But they're there duringimplementation so they're aware,
they're watching the notes,they're looking at the project

(01:12:51):
boards, they're aware ofanything that comes up.
And then their goal is to setmoments of reality checks.
Are we getting the adoptionreality checks?
Are we getting the adoption?
Have we written the rightemails to get your customers to
understand what auto pay is, toenroll them into auto pay?
Maybe they're switching fromone payment method to another?

(01:13:12):
How do we warn them?
You know, 30 days before, hey,on May 1st you'll be seeing
something different.
This is what you're going to beseeing setting up those
communications, working with thecustomer success, because
adoption is critical.
You know that is the mostmeasurement of success, to the
point where, at day 100 after golive, we have another meeting

(01:13:32):
and we make sure your adoptionis right and we don't wait until
then.
But it is part of the processand we readjust.
Hey, maybe you do need to putyou know.
You're still getting a lot ofchecks.
Maybe what you need to do withyour check customers is set them
up on an incentive that saysyou're going to give them a 1%
discount to use the bank network, but we're not accepting checks

(01:13:55):
anymore, sorry, and you do thatfor 90 days and then you turn
off that 1% once they've adoptedand you have them on auto pay
and they're done.
But give them some sort ofincentive.
And again, that 1% incentive issignificantly less, could be
significantly less than any onebounce check or any one manual

(01:14:17):
process of putting those checksin there or whatever all of that
stuff is.
So not only do we have thecarrot and the stick methodology
, and when you apply both ofthose levers, that adoption
instead of 40% to 60% nowbecomes 70% to 90%.

Speaker 1 (01:14:36):
Incentivize.

Speaker 4 (01:14:38):
Yeah, say I'm not accepting checks anymore.
Customers, I'm going toincentivize you a half a percent
or a percent for, you know,using the bank network, I'm
going to charge you a 4% to usethe credit card, which is
actually a revenue stream, ifyou think about that, for the
merchant, because they're onlypaying.
You know, 2.9, 3% depends onthe card type of thing.

(01:15:02):
2.9, 3% depends on the cardtype of thing.
But now they're actuallycreating revenue for the
customers that do choose to dothat, and I'm not going to
accept ACH and all of that'scustomizable by the customer.
So the merchant can choose anyof their customers to have any
experience they want.
At a minimum they have to offerthe bank to bank network.

(01:15:25):
That's all we ask, and we havecustomers that literally that's
all they offer.
You want to pay me, use bank tobank network, or you want to
use credit card?
It's 5%, it's 8%, like itdoesn't matter, you can gouge.
I mean, because people aregoing to use the bank network, I

(01:15:45):
don't accept checks.

Speaker 2 (01:15:49):
I don't like checks.

Speaker 4 (01:15:52):
My mom sends checks for birthdays.
I'm like, can you just Venmo me?

Speaker 2 (01:15:56):
I don't have Venmo either.
Really, I use Zelle.

Speaker 1 (01:16:02):
I don't use Venmo I don't use PayPal.

Speaker 2 (01:16:06):
PayPal sucks.

Speaker 3 (01:16:08):
PayPal is bad.

Speaker 2 (01:16:09):
PayPal is horrible.

Speaker 4 (01:16:10):
Zelle is nice, I love Zelle.

Speaker 2 (01:16:13):
Don't tell me Zelle is Venmo or PayPal no.

Speaker 4 (01:16:16):
Zelle is Zelle.
I don't know who the thing is,but PayPal is Venmo is PayPal.

Speaker 2 (01:16:22):
Well, I had a problem with PayPal because I used
PayPal to purchase something andit turned out to be fake.
The one time in my life.
See, now we're going to go withthe woes of Brad.
One time in my life I purchasedsomething and I never got it.
And I contested it and themerchant sent.

(01:16:42):
I ordered a shirt and a pairedit, and the merchant sent.
I ordered a shirt and a pair ofpants.
And then the merchant and thePayPal then did the
investigation reached out to themerchant.
The merchant provided them atracking number.
Okay, I looked up the trackingnumber.
It said three boxes, 150 pounds.
And I said the invoice is for apair of pants and a shirt.
Okay, and I lived in.

(01:17:06):
Can I tell people where I lived?
Or is that not safe?
Just a state?
I lived in a state in theUnited States.
The place in the United Stateswhere that package was delivered
was not my state, all right.
So they provided a trackingnumber, right, oh, excuse me, no
, it had the same zip code.
So they must've found a packagetracking number with the same

(01:17:27):
zip code, right?
And it went from like one placeto another.
It was obviously not what I hadordered, because it was three
boxes, 150 pounds.

Speaker 1 (01:17:36):
PayPal said what kind of pants and shirt did you
order?

Speaker 2 (01:17:39):
I'm a big guy now.
Chris, you haven't seen me in alittle bit.
I ate a bit over the holidays.
No, this was a couple years agoand paypal said no, they
provided the tracking number Idid I wrote back to them and I
said did you look at thetracking?
it's not even me, it's obvious.
Thankfully, thankfully, I'vereached out to the bank and the

(01:18:01):
bank said see you, bye, paypal,you ain't getting the money.
Yeah, thankfully so.
The ever since then, I've neverused paypal, and paypal sucks,
and I'll say that over and overand over again paypal sucks and
and remember, that's like one ofyour default collection methods
in business central, so youcould avoid it.

Speaker 4 (01:18:22):
Oh, paypal sucks.

Speaker 1 (01:18:24):
There is PayPal.

Speaker 2 (01:18:25):
I've had someone say oh, can I pay?
No, I won't even I deleted myaccount.
After that I did everything.
I will never use PayPal again.
Because they went through and Iexchanged with this person.
I showed them the invoice, Ishowed them everything, I had
everything, and they said no,they gave you the tracking and,

(01:18:45):
like I could have picked thetracking number out of the, you
know it's not difficult to finda ups tracking number online.

Speaker 4 (01:18:47):
By the way, I mean it's, everybody knows the format
of the numbers.
We're dealing with that all thetime with my kids now.
I mean because not just thebusiness they started, but they,
they love buying like theserandom clothing.
And like they're like oh, canyou give us your credit card?
You know we're going to process.
We're like have you looked atthe website?
Like, is it a valid site?
Is it like are you really goingto get this?
And like we're still waitingfor some sweatshirts, probably

(01:19:07):
from China somewhere, like youknow from Christmas time that
who knows if we're ever going toget them.
But you know you go out onReddit, you kind of validate the
vendor.
Are they real, you know?

Speaker 2 (01:19:18):
but you know that's that's why we have to deal with
underwriting, because somemerchants I didn't want to take
us on a little bit of a tangentthere, but uh, Danny and David,
thank you for taking the time tospeak with us this afternoon
and also for joining us for thefirst recording of 2025.
We've been at this for severalyears now, so, um, we're

(01:19:39):
thankful.
Year for episode 401.
No, we're not changing thenumbers.
I want the numbers to beconsecutive.
We can't do the 401 just pick upthe last one, because now it
looks like we have 400 episodesand I don't.
What are we going to get whenwe get to 10 years?
10,000 or 1,000, whatever it is?

Speaker 4 (01:19:58):
it's kind of like planning for your.
I remember the GP days if youdidn't plan your invoicing.

Speaker 1 (01:20:05):
Number, series Number series correct.

Speaker 4 (01:20:08):
You'd run out of space eventually and you'd have
to.
You know like you got to planyour episodes.

Speaker 2 (01:20:14):
Chris, we can do season four episode whatever the
last number was.
Let's just do that, or can wejust start over?

Speaker 1 (01:20:22):
at one.
Just do one, because it givesyou an option for season four
and then episode 001.
In case we do 100, right, wemay do 100 this year.

Speaker 4 (01:20:33):
We should try.
You could do 1,000, though, ifyou set it up that way.

Speaker 2 (01:20:37):
We could try to get to a weekend, no, but thank you
for taking the time to speakwith us this afternoon and
telling us a lot more when arewe going to see you guys like in
, like the flesh next, uh whereare you going to be?
Are you going to be any?
This is what I was going to say, but thank you again.
Uh, where will you be soon?

Speaker 4 (01:20:58):
we'll be at directions absolutely I'll see
you there.

Speaker 2 (01:20:59):
Um you're going.

Speaker 4 (01:20:59):
Brad's the one of directions, because you don't, I
always go to directions.
Then you said going brad's theone of directions, because you
don't, I always go to directions.
Then you said you've never beenin california.
You lied to us he's san diego.

Speaker 2 (01:21:09):
I went, oh, I did lie yeah whoa because you were yeah
, yeah, san diego, I take thatback.

Speaker 1 (01:21:16):
We go to directions all the time I take that back.

Speaker 2 (01:21:21):
that was the first time I went to California See
San Diego.
I totally forgot about it.

Speaker 4 (01:21:26):
I was thrown off by that, so we'll be in directions.
In Las Vegas we're planning areally cool ISV party with a
bunch of really cool strategicguys.

Speaker 2 (01:21:36):
Can you put me on that damn list now?

Speaker 1 (01:21:39):
Yes.

Speaker 2 (01:21:39):
You are on the list.

Speaker 1 (01:21:40):
We'll be your media.
Yeah, look at me, that'll beyour media.

Speaker 4 (01:21:43):
Yeah, look at me, that'll be exciting.
Love that, so that can be agood occasion Because we're
finding like ISVs.

Speaker 2 (01:21:48):
Danny, get me on that list now.
You know he'll forget.

Speaker 4 (01:21:51):
Yeah, ISVs work together really well and we like
to kind of be together.
So I think it helps VARs choosetheir ISVs when they're all
working together.
So we're going to do that.

Speaker 3 (01:22:06):
Danny is doing a lot of road shows.

Speaker 4 (01:22:07):
She's doing some road shows.

Speaker 2 (01:22:09):
Which ones.
I'm doing some road shows, soyou may see me, me too.

Speaker 4 (01:22:14):
Denver, chicago.

Speaker 3 (01:22:18):
Tennessee.

Speaker 2 (01:22:19):
You going to Tampa?
No, why?

Speaker 4 (01:22:23):
Vancouver.
She's going to go to LA nextweek, but we have our sales
kickoff, so she's not going tomake that one.
We're going to do so before,but those are all.
We'll see you at Directionsbefore those, but we're doing
Chicago.

Speaker 2 (01:22:37):
Doing DynamicsCon in Chicago.

Speaker 4 (01:22:39):
I know we're attending.
We're both registered to attend.
We haven't picked up thesponsorship there, but we'll
definitely be there.

Speaker 2 (01:22:47):
I see you at Directions Roadshow.

Speaker 1 (01:22:50):
No, vancouver Roadshow.

Speaker 3 (01:22:52):
I think we're thinking about it right, David,
we're thinking Toronto.

Speaker 1 (01:22:55):
Toronto Trading in Toronto.

Speaker 4 (01:22:57):
Yeah, and then we are looking at the meetups as well
and we're kind of seeing withthe know, with the Doug meetups.

Speaker 2 (01:23:06):
Go to Tampa.

Speaker 4 (01:23:07):
The regional ones More of the regional ones.
You know those are a biggerbang for the buck, but we're
excited.
That's a new strategy this year.
Put some miles on Danny'stennis shoes and getting her out
there and giving her something.

Speaker 2 (01:23:23):
Someone will have to ride the horse while you're away
, though.

Speaker 3 (01:23:27):
Someone yeah, Someone does care for him.
I have all that lined upwhenever I leave, but I am so
sad to leave.

Speaker 2 (01:23:32):
No, no, I can imagine .
See, the first thing I thoughtof with you leaving was the
horse.

Speaker 3 (01:23:38):
David's very receptive though of me, you know
, not running me too hard ontraveling.
So well, maybe you can bringthe horse, so your paystand will
get so big that you can bringthe horse with you if he could
just be our mascot, I know we'dbe you could show up to a road
show on a horse how many wouldthat be?

Speaker 4 (01:23:55):
well, we are having our sales kickoff next week in
santa cruz.
Maybe she could just ridedowntown on the horse and park
it up.
It's gone down.
What a way to get business.

Speaker 1 (01:24:05):
Name your next horse, Paystand.

Speaker 2 (01:24:06):
They will remember you A lot of it's all about
being remembered.
So if you show up with a horse,people remember you.
And David, your point of ISVswork well together.
I agree with that, just likeI'm on the kick of collaboration
on presentations.
If you have a gathering withmultiple ISVs, it's a great draw
because individuals can talkwith many ISVs in one spot and

(01:24:27):
they don't have to run fromengagement into engagement or
event to event.
So I'm a fan of the multi-ISVreceptions I'll call them where
you can have the opportunity totalk with each other and then
also get verification that someof these ISVs work together as
well, which is extremelyimportant because there's a lot
of options outside of paymentprocessing with PayStand, but

(01:24:48):
there's other ISV solutions thatindividuals use that you want
to make sure work together andyou can see that that
relationship is very good.
But, thank you again for takingthe time to speak with us this
afternoon, this morning, thisevening, whatever time it may be
, wherever anybody is, thismorning, this evening, whatever
time it may be, wherever anybodyis.
And if someone would like moreinformation on paystand and how

(01:25:10):
to implement it, or to have itimplemented, or to even see a
demonstration of how it worksand a more in-depth look at the
features, what's the best wayfor them to get in contact with
you?

Speaker 3 (01:25:18):
Reach out to me.

Speaker 4 (01:25:19):
Reach out to our company.

Speaker 3 (01:25:20):
LinkedIn email phone number.
I mean I can, I can name themall here.

Speaker 2 (01:25:30):
Give us your LinkedIn and the website and if you
would like to share the email,you could do that.
We will put the information inthe show notes as well, but
anyone that's listening, if theywanted to, what's the best way
to find you on LinkedIn and thewebsite?

Speaker 3 (01:25:41):
Sounds good.
All right website.
Yep Sounds good.

Speaker 2 (01:25:44):
All right, great.
Thank you very much.
Have a good afternoon.
I'll speak with you both soon,I'm looking forward to seeing
you in April in Vegas, so beready.

Speaker 1 (01:25:53):
Dangerous.
Yes, it is All right, Ciao ciaoBye.

Speaker 2 (01:25:58):
Thank you, chris, for your time for another episode
of In the Dynamics Corner Chair,and thank you to our guests for
participating.

Speaker 1 (01:26:05):
Thank you, brad, for your time.
It is a wonderful episode ofDynamics Corner Chair.
I would also like to thank ourguests for joining us.
Thank you for all of ourlisteners tuning in as well.
You can find Brad atdeveloperlifecom, that is
D-V-L-P-R-L-I-F-Ecom, and youcan interact with them via

(01:26:29):
Twitter D-V-L-P-R-L-I-F-E.
You can also find me atmatalinoio, m-a-t-a-l-i-n-oi-o,
and my Twitter handle isMattelino16.
And you can see those linksdown below in the show notes.
Again, thank you everyone.

(01:26:50):
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