Lockstep’s Mission
Connect the world’s accounting departments to help them work better together.
Connected Accounting Resources: Blog for AR and AP Professionals
Automate Cash Application and Eliminate Manual Entry Issues
Cash application is often overlooked in the AR process because it’s the last step in the cycle, and for many companies a tedious, time consuming task. However, there are a number of reasons why
Stop Putting Hurdles in Front of Customer Payments: Why Payment Options is a Must in AR
Putting hurdles in front of customer payments may be hurting your cash flow. With many AP departments forced to work remotely during the pandemic, the transformation to electronic payments became a necessity, and it
Get Control of Disputes and Deductions with AR Automation
Invoice disputes and deductions can be a big problem when you use manual AR processes. Your AR team typically doesn’t find out about them until after deductions have been taken, and it takes a
Getting Paid in Construction is Harder Than It Used to Be
Getting paid in construction is hard. But we probably don’t need to tell you that. The truth is that construction has the slowest payments of any industry, and things are only getting worse. That
Why It’s Crucial to Have a Standardized AR Process
The pandemic turned the world upside down. It changed the way we live and do business. The paradigm shift to remote work developed in response to the pandemic. Businesses with AR automation and standardized
Eliminate the Paper Chase with AR Automation to Increase Cash Flow
Paper doesn’t work very well in the digital world of remote work, or with customers that are 100% automated. Manual processes that use paper invoices are inefficient, delay payments, increase DSO, and decrease cash
Increasing Cash Flow by Automating the Entire Order to Cash Process
The speed of your company’s Order to Cash (OTC) cycle drives cash flow generation. The OTC cycle converts inventory to AR, and AR to cash. Cash flow can be accelerated by increasing the speed
AR Departments Need Automation Among Heightened Risk of Fraud in Work from Home Era
Compliance issues have become a major risk for many companies. The possibility of AR fraud entangling companies in illegal transactions with customers is a growing concern. The consequences of unknowingly being involved in money
What’s Holding Back AR Departments from Automating?
AR automation is more important than ever as the economy reopens. AR departments are challenged to increase collections and cash flow in an environment where many customers are still recovering from the devastating economic
Dazzle The Executive Team Three Ways With AR Forecasting And Reporting
Automation makes AR reporting and forecasting possible using real-time information without using your teams’ collection time. Collections automation will make your job easier, and furnish timely and concise KPI reporting to your executive team.
Learning from and Improving the Lockstep Internship Program
In April, my team set out to design a new recruiting project: the Lockstep Software Engineering Internship. Our company is growing rapidly, but we also made the decision (before the pandemic) that we would be
Empower your Customers and Increase Time for Collections
Automated collection processes run on customer master data. Incorrect or out-of-date information in customer profiles can result in errors, disputes and unhappy customers. If your team is maintaining customer profiles manually,
Be An Accounting Leader And Mentor To Your Collections Team
Do your collectors seek your advice and welcome your insights? If not, it may be that you don’t have the collections automation tools needed to have a clear view of their activities and success
Clear Out Your Accounting Inbox with Customer Self-service
Many of the emails your collectors receive are regarding routine matters. They require manual effort to clear, and make it harder to keep up with collections. Also, customers don’t want to waste time writing