Lockstep has come up with a self-service portal to its connected accounting network. The latest portal enables the vendors and customers of the company in the statement reconciliation. Also, it helps in downloading documents and seeing transaction history. Besides, it contributes to exporting account data.
The app functions with Lockstep inbox for automating AR and AP workflows online. It helps the accounting team to close their books more quicker. The self-service portal is Lockstep Suite’s next evolution, according to Matt Shanahan. He is the Vice President and Co-founder of Strategy at Lockstep.
This portal will enhance the experiences of the vendors and the customers. They can reduce the touchpoint numbers and close the books faster.
The accounting sector possesses top-level objectives to promote financial visibility across the entity. In this effort, accounts receivable play the role of a natural element. However, in most cases, these functions are silos.
Focusing on connectivity can solve the problem and help organizations in several ways. The entities can elevate their cash flow transparency. It will fill the gap that separates it from the Accounts Payable departments’ business customers.
Automating the routing accounts receivable processes can be very critical. It will address the traditional chores inside the order-to-cash procedure.
The new portal will remove the requirement for companies to exchange PDFs and spreadsheets. Instead, they can access documents and data in real time. They can do it anytime with a single click of a button.
For existing and new customers, the portal is available at zero cost. It is part of the Lockstep suite. Within months, the company will introduce electronic payment potentials to the portal.
It allows the accounting teams to remove the bottlenecks from the period-end procedures. They can close the books quicker, according to the company.
People are expecting new technologies from Lockstep. It is working on its efforts to make the processes of the accounting department easy.
