Case Study: 323.APARTMENTS achieves rapid digital rent collection and automated NetSuite AR with Paystand

323 Apartments Switching to Digital Rent Collection

323.APARTMENTS, a California-based property management company, needed to reduce missed and late rent payments and offer tenants more flexible self-service payment options while automating accounts receivable in NetSuite. CIO Richard Yegian engaged Paystand to shift the business away from cash and paper checks and implement a digital rent collection process to prevent revenue loss during the COVID-19 disruption.

Paystand set up a digital payment portal in one week, integrated it with NetSuite to automate accounting, and enabled tenants to pay online or by credit card while offering wholesale card rates, 0% bank payments, and advanced fee management controls. The deployment reduced staff workload on rent collection, sped up adoption of digital payments, and delivered improved payment flexibility and automation for 323.APARTMENTS thanks to Paystand.

323.APARTMENTS

Richard Yegian

Chief Information Officer