Patent-pending Email and Accounting Software Integration Revolutionizes and Streamlines Payments and Month-end Closing Workflows
Seattle, WA – May 19, 2022 — Lockstep®, the leader in connected accounting, today announced the launch of Lockstep Inbox, the first-ever shared inbox for accounting teams. An industry first, Lockstep Inbox is a free solution that streamlines accounting workflows between companies such as onboarding, invoicing, disputes, payments, and reconciliation. Lockstep Inbox lets users set up in minutes and then manage, and track workflows with customers and vendors without requiring administrative support from IT. Designed for individuals and teams, Lockstep Inbox provides an online workspace that lets accounting join the automation revolution quickly and easily.
Today, more than 90% of companies use a personal or shared email inbox and spreadsheets to manage accounting workflows with customers and vendors with no integration to their accounting software. The remaining 10% use solutions designed for support or other departments as a band-aid for true automation. These manual inboxes promote lots of menial tasks such as manually creating repetitive accounting emails like payment reminders, retrieving transactional data from the accounting software, filing attachments for reference, and organizing emails based on subject and company. Not only is this process inefficient, but manual inboxes create information silos that cannot be searched, further slowing down payments and month-end closing.
“Every other department within a company – from HR, Customer Success, Marketing and Sales – leans on automation to streamline and optimize workflows and communication,” says Peter Horadan, CEO and Cofounder of Lockstep. “For far too long, Accounting, one of the most foundational processes of a business, has been ignored. Lockstep Inbox increases visibility and transparency while empowering accounting teams to decrease manual tasks and increase overall efficiency across the board.”
Developed for companies of all sizes – from single-person entities to multi-office corporations – Lockstep Inbox is the first accounting inbox directly integrated with popular email platforms including Gmail and Outlook, and accounting and ERP software solutions such as QuickBooks, Xero, and Sage Intacct. This unique combination allows accounting teams to automate AR and AP workflows in minutes.
With Lockstep Inbox, you can:
- Identify the next best activity with accounting KPIs that proactively identify customers or vendors needing attention.
- Ensure nothing falls through the cracks with a powerful, zero-admin workflow to manage and track the teams’ accounting emails, phone calls, and to-dos.
- Save time by communicating with vendors and customers with one-click email creation using data from your accounting software.
- Stop chasing down information with a 360-degree view of customer and vendor activity history, transactions, contacts, and documents.
- Ensure everyone is empowered with a shared workspace that gives visibility into the status of each activity, action, and resolution.
“Vendor and customer accounting teams are continuously collaborating on billing and payment clarifications, regulatory documentation, taxes, disputes, and month-end closing,” notes Matt Shanahan, Chief Strategy Officer and Cofounder of Lockstep. “Lockstep Inbox allows an accounting team, regardless of size, to cut in half the time it takes to get to inbox zero. Accounting teams get more done with less stress using Lockstep Inbox.”
Lockstep Inbox is a free accounting shared inbox that allows teams to organize, control, and automate accounting activity streams across the vendor and customer ecosystem. Lockstep Inbox is available immediately.
For more information, please visit: http://lockstep.io/accounting-inbox/
For more information on Lockstep, please visit: https://lockstep.io/
Award-winning Lockstep® connects the world’s accounting teams to help them work better together. The pioneer in Connected Accounting, Lockstep develops tools and platforms for fintech developers and accounting teams to automate workflows between the accounting systems that are at the heart of all businesses. For developers, Lockstep API is the easy, modern platform for building fintech applications that work with their customers’ accounting systems. For accounting teams, Lockstep’s applications automate accounts receivable and accounts payable workflows improving efficiency and cash flow. Based in Seattle, Lockstep has won numerous awards including the 2022 BIG Innovation Award, 2021 Top Cash Management Solution by CFO Tech Outlook, and The Cloud Awards’ Most Promising Start-up. Visit www.lockstep.io for more information.