SWK Technologies, Inc., a national provider of business management technology solutions and services, announced that it has added Lockstep Collect, the world’s first connected accounting cloud, and VelocIT Business Solutions, a custom software development firm specializing in advanced payment solutions, point of sale, and ERP software customization, to its robust suite of product offerings. Lockstep’s flagship product, Lockstep Collect, offers SWK customers access to accounts receivable (AR) automation software integrated with ERP, and is the only AR automation solution offered by SWK Technologies.
VelocIT is the current payment processor of record for SWK Technologies, and one of the platform’s most sought-after integrations. Now SWK, and in turn VelocIT customers, will have access to Lockstep Collect to automate the collections process and accelerate cash collection. Lockstep Collect will be available to all SWK customers effective immediately.
“It’s been a longstanding goal to simplify the adoption of online payments for SWK customers,” said Carla Brown, SWK Vice President of Partners and Alliances. “The integration of VelocIT and Lockstep eases the acquisition and implementation process for companies using SWK. We’re thrilled to be able to offer a more comprehensive payment solution for all current and future customers.”
SWK Technologies is an award-winning software VAR and MSP, recently receiving the Avalara Top Partner Award for 2021 in the systems integrator category. In addition, SWK has received several awards consecutively year over year in the ERP and MSP categories, including Acumatica Partner of the Year, CRN MSP500 Elite 150, and CRP Solution Provider 500.
“VelocIT’s diverse array of customers require payment solutions that can grow and evolve with their business,” said Jeremy Burt, CEO of VelocIT Business Solutions. “With this Lockstep integration, VelocIT is now able to support all order-to-cash, as well as all eCommerce requirements for SWK customers.”
“Lockstep enables companies to automate the collections process and accept payments online, which increases staff efficiency up to 3X and working capital by hundreds of thousands, to even millions of dollars,” said Matt Shanahan, cofounder and Chief Strategy Officer at Lockstep. “Our integration with VelocIT for SWK customers empowers finance departments to eliminate cash traps and leaks in B2B accounting.”
Lockstep helps its customers process more than one million invoices per month across more than 4 million entities. Lockstep integrates over 40 ERP and accounting solutions into its connected accounting cloud and was recently listed on the Acumatica marketplace. Lockstep recently announced an $11.5M Series A, and the hires of an EVP of Marketing, VP of Customer Success and VP of Finance.
About SWK Technologies, Inc.
SWK Technologies, Inc. delights its customers and partners by providing solutions and expertise that transform their businesses and enable success. SWK’s Strategic Technology Advisory Team (STAT) provides business management consulting services that help maximize value derived from technology investments. SWK Managed Cloud Services, the cloud hosting and managed services division of SWK Technologies, is an award-winning IT solution provider and network defense resource. SWK’s parent company, SilverSun Technologies, Inc., is publicly traded (NASDAQ: SSNT).
Lockstep connects the world’s accounts receivable (AR) and accounts payable (AP) departments so they can work better together. Founded in 2019, Lockstep automates the sharing of accounting data between B2B trading partners to keep their books in sync and accelerate payments. Based in Seattle, Lockstep’s connected accounting cloud accelerates cash collecting, improves cash flow, and promotes accounting efficiency. For more information, please visit: www.lockstep.io