Case Study: Penntek Coatings achieves $65K in savings and doubles payment efficiency with Paystand

Penntek Coatings saves $65K in 6 months with Paystand

Penntek Coatings, a floor coatings manufacturer and distributor, faced operational and financial challenges due to manual check processing, high credit card transaction fees, and month-end discrepancies. They needed to modernize their payment experience and reduce costs. They turned to the vendor Paystand and its digital payment platform.

Using Paystand's solution allowed Penntek to automate payments and significantly reduce reliance on credit cards. This implementation saved them $65,300 in transaction costs in just six months while nearly doubling their annual transaction volume from $15.6 million to $30.4 million. Paystand also helped streamline month-end processes and improved overall customer satisfaction with a modernized payment system.

Penntek Coatings