CLAYMONT, DE — Delaware-based tech firm Forwardly has unveiled its advanced Bill Payments system. The new Accounts Payable (AP) automation tool promises to change the way businesses handle their finances, offering instant bill payments, multi-level approval features, and the flexibility to schedule partial payments around the clock.
The newly launched Bill Payments system integrates seamlessly with Forwardly’s existing Accounts Receivable (AR) capabilities. This comprehensive suite of payment services stands to eliminate time-consuming manual data entry and replace fragmented legacy processes, empowering businesses and accounting firms to manage their financial operations more efficiently.
“Traditional bill payment methods are outdated, and businesses today require innovative solutions to handle increasing challenges when making ends meet,” says Nick Chandi, CEO of Forwardly. “Our goal at Forwardly has always been to empower small businesses with tools that simplify financial management.”
Real-time payments, once a novelty, have become a necessity in today’s fast-paced business environment. The Clearing House’s RTP Network reported a 50% surge in businesses sending payments over its network since December 2022, bringing the total to 150,000. By 2028, real-time payments are projected to replace up to $37 trillion in ACH and check-based B2B payments in the U.S.
Forwardly’s Bill Payments system is poised to help more small businesses tap into the benefits of real-time payments. With a single click, users can process the entire bill payment workflow in seconds and schedule payments for free using modern payment systems like the FedNow Service, the RTP Network, and same-day ACH.
Key features of the new system include intelligent bill processing, simplified payment processes, secure vendor onboarding and management, seamless integration with popular accounting and ERP systems, and real-time alerts and notifications. These functionalities promise to redefine how businesses manage their AP, bringing efficiency, transparency, and control to what has traditionally been a complex and time-consuming process.
In a business landscape where cash flow is king, the ability to manage payments in real-time can provide a significant competitive edge. By enabling businesses to pay bills instantly and accurately, Forwardly’s Bill Payments system could help small businesses improve their liquidity, maintain healthier relationships with vendors, and ultimately drive growth.
The launch of this advanced Bill Payments system marks a significant milestone in Forwardly’s mission to empower small businesses with cutting-edge financial tools. It’s a game-changing development that promises to bring unprecedented flexibility and efficiency to small and medium-sized businesses and accounting firms across the U.S. As such, it’s a story that every small business owner should be paying attention to.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.