Lockstep, the connected accounting network, today announced that Lockstep Self-Service now allows companies to accept payments online from their customers using Stripe or PayPal or the merchant processor of their choice. Combined with Lockstep Inbox, Lockstep Self-Service – the latest application in the Lockstep Suite – is a free solution that allows users’ companies to manage their AR and AP workflows in one place.
“A major pain point for B2B companies is the lack of a cost-effective, automated e-commerce solution to accelerate payments,” said Matt Shanahan, Cofounder and VP of Strategy. “By activating payments in Lockstep Self-Service, we are furthering our vision of connected accounting by helping companies automate the collections and cash application while improving the customer experience. Companies using Lockstep Self-Service get paid faster with less effort.”
Companies can give customers online access by sending an email containing a Lockstep Self-Service magic link. Once customers use the magic link, they can see their statement, individual invoices, past history, and now make payments. There are clear and simple options to pay multiple invoices or partial amounts. Once paid, the payment information is tracked and applied against the open balances of the invoices to automate the recording of payments.
In addition to making it easy for customers to pay, Lockstep Self-Service gives tools for accounting departments to track adoption of online payments with analytics.
Signing up for Lockstep Self-Service is easy as it connects directly into the user’s ERP and integrates with Lockstep Inbox. In addition to payments, Lockstep Self-Service is introducing a new customer analytics feature.
About Lockstep
Lockstep is a connected accounting network that automates accounting workflows between companies. The pioneer in Connected Accounting, Lockstep allows accounts receivable (AR) and accounts payable (AP) teams to automate all their receivables and payables workflows in one place, improving productivity, cash flow, and working capital. Lockstep has won numerous awards including the 2022 BIG Innovation Award, 2022 Top Accounting Solution by CFO Tech Outlook, and Most Promising Fintech Solution by CIOReview.