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    11 / 6 / 2014

    Does billing and payments reconciliation have to be so time consuming?

    Originally posted on Intacct's View from the Cloud Blog:

    Today's blog is a guest post from William Barber, CEO of 2C Processor (2CP). 2CP will be a Platinum Sponsor again at Intacct Advantage this year.

    Cloud-based financial software like Intacct has revolutionized accounting departments around the world. Adding in Cloud accessibility creates new possibilities. Time and resources once dedicated to data entry and manual adjustments can now be replaced with automated processes and integrated solutions. At the same time, the velocity of transactions and the breadth of our finance platforms is increasing. Unconnected applications need to work together or at the very least, be synchronized. Consequentially, resources need to be added back in to compile and reconcile the synchronization of this transaction flow. Receivables and payments are a large part of this process since many times, the point of contact with customers is a cashier at register, a statement snail-mailed to a business client, or a customer buying online via a shopping cart. Thus, some aspects of human intervention by the company’s accounting staff are still required or perhaps even increased.
    What if these processes in turn could be automated? What if virtually any action an Intacct customer made in accounts receivable and payments via a customer portal, shopping cart, customer service rep using a CRM, or even email, were updated in real time in Intacct? What would be the cost savings, automate billing, increase in cash flow turnover, and impact on real time financial reporting? What would be needed to implement such a system that would facilitate these efficiencies? 2C Processor (2CP) has created solutions that provide these benefits, and more, at virtually no additional expense than companies are already more

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