Lockstep is a startup company that’s created a new product to connect accounting teams globally. The company (based in Seattle) has applications that automate accounts receivable and accounts payable workflows. The company improves cash flow and effectiveness to enable them to work better together. Now, there’s Lockstep Smart Inbox, an automated inbox for accounting teams.
The smart inbox is a free service that ensures the smooth running of accounting workflows that share an accounting inbox. As a result, paper and PDF documents are eliminated from your assignments. It tracks and manages the team’s accounting emails, tasks, and phone conversations, provided by a zero-admin workflow. An integrated email within the legacy accounting software communicates with the sellers and customers, saving time.
How does Lockstep work?
Peter Horadan, the Lockstep CEO, said that his firm uses a product-led growth approach. Plus, anyone willing to join the Lockstep Network can do so for free. He also added that other departments within a company lean on automation to simplify and improve communication and workflow. Prior to Lockstep, accounting was getting the short end of the stick.
Departments like IT have Jira, Sales have Salesforce, and HR has Gusto, but accounting relies on spreadsheets and outlook. The automated inbox increases transparency and visibility while allowing the accounting teams to reduce manual tasks and increase overall productivity.
Lockstep Inbox allows the teams to control, computerize and organize accounting activity across the customer and salesperson ecosystem. It connects to Xero and QuickBooks, which improve cash flow and efficiency by computerizing the accounts payable and accounts receivable activity stream. The intelligent inbox helps you easily organize, track, and update your contacts across the activity streams. It is available to any business free of charge and works with Outlook and Gmail.
One co-founder of Lockstep, Matt Shanahan, says that the smart inbox allows the accounting professionals to increase transparency, avoid paper and sync their books through a shared system, allowing the accounting teams to focus on the business’s bottom line. It becomes expensive to sort through old emails or try to align mismatched books. This results in a lot of wasted time.
Lockstep Inbox Features
Lockstep Inbox allows you to do many things, which may include:
- A shared workspace that clarifies each team members’ status and lets you research your salesperson and vendor.
- Communicate with customers and salespeople with an integrated email into your accounting software, saving time.
- Identify the next best activity for a salesperson or vendor with valuable reports and monitor your key performance indicators.
- Refrain from looking for information about the salesperson and vendor’s contacts, activity history, documents, and even transactions.
- Ensures the teams’ phone calls, accounting emails, and tasks are managed and tracked, so nothing falls through the cracks. All with a zero-admin workflow.