Connected Accounting Resources: Learn more about how AR automation can transform your accounting department.
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Balancing Efficiency and Effectiveness in Your AR Automation Journey
In today’s fast-paced environment, organizations must strive for advanced levels of efficiency. Everyone wants to be efficient, but that is not always the best approach when communicating to customers, especially if a response from your customer is required. Key
What’s DSO and Why It Matters
Days Sales Outstanding (DSO) is a major account receivable (AR) KPI and goal for accounting departments. DSO increased for many companies over the past 18 months and remains a challenge in the economic recovery. Many
Three Ways Accounts Receivable Automation Improves Customer Experience
Losing a customer can result in a hit to your profits and shareholder value. Finding new customers can be difficult and expensive. Companies are increasingly recognizing the importance of customer experience and its impact
Great Resignation Preparedness: Why Leveraging Automation Means AR Success
With the emergence from the pandemic, many employees have questioned their careers and choice of employer; making the decision to change employers and/or career paths, prompting a new phenomenon dubbed the “Great Resignation”. Current
The Impact of Late Payments on Accounts Receivable
Late payments are an all-too-common problem as the economy continues to recover from the pandemic. Many companies are stretching accounts payable and using suppliers as a source of working capital, in turn delaying payments far
Combatting Late Payments with Accounts Receivable Automation
It’s a challenge to stay ahead of the curve on late payments using manual accounts receivable (AR) processes. Manual AR systems tie your team up with low-value tasks, reducing the time available for collections.
Lockstep Engineering Internship Fall 2021
Gain Meaningful Experience through an Engineering Internship with Lockstep In Summer 2021, Lockstep introduced our first internship for software engineers. We were amazed at the response our program received from the academic community, and
SWK Technologies Adds Lockstep Collect Accounting Cloud to Suite of Offerings
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
Persistence is the Winning Strategy to Collect Timely Payments
Persistence is key to collecting on-time payments, but it takes a lot of time and discipline to be successful with manual accounts receivable (AR) processes. Customers that are contacted regularly for payment know you
How Early is Too Early to Send Payment Reminders?
Finding the right balance of when to remind customers of open invoices can be tricky. You don’t want to be annoying, but you also need to be paid on-time. In this sense, it is generally
The 2 Forms of Payment to Always Accept: ACH & Credit Card
Make it easy for customers to pay you by accepting all forms of payment including: electronic transfer, automated clearing house (ACH), credit cards, fintech payment processors such as PayPal, and paper checks. It will
Creating Invoice Payment Terms that Prevent Payment Delays
The choice of invoice payment terms and conditions can ensure timely payment of your invoices. You need to consider a number of factors before deciding which payment terms to use. Choosing the wrong payment terms
How to Ensure all Invoices are Accurate for On-Time Payments
Accurate invoices are a necessity to ensure that your invoices are paid on-time. Inaccurate invoices can lead to disputes and delays in payment. Payment delays reduce cash flow and increase DSOs, a situation many
The Importance of Sending Timely Invoices
Manually creating invoices from scratch is a time consuming task. In an office with manual AR processes, invoicing is juggled with other competing priorities. Instead of making invoicing a top priority, manual offices often