• Intacct Blog: Does Billing and Payments Reconciliation Have To Be So Time Consuming?
  • Does Billing and Payments Reconciliation Have To Be So Time Consuming?

    Today's blog is a guest post from William Barber, CEO of 2C Processor (2CP). 2CP will be a Platinum Sponsor again at Intacct Advantagethis year and will be exhibiting at Booth #100 in the Marketplace Expo. Be sure to stop by to meet William and his team!

    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, 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 paying.

    2CP has been an Intacct client and an application partner for over 5 years. In our business as an e-commerce gateway and merchant services provider, we faced many of the same issues outlined above and over time developed our own applications to automate the work. The flexibility provided by Intacct allowed us to stretch the possibilities and now with Intacct Platform, we have turned our internal fixes into opportunities for all Intacct clients. 2CP’s suite of Intacct Platform applications reside within Intacct; making installing, implementing, and maintaining the applications very simple. Details and videos of these applications are available at www.2cpusa.com/intacct or on the Intacct Marketplace at http://marketplace.intacct.com.

    Two of our innovative applications are the Customer Portal and Shopping Cart to Cash (with Q-Stock):

    2CP’s Customer Portal application, available with single sign on, allows Intacct client customers to login with their own credentials to a portal branded to your company, view the actual invoice PDF in Intacct, pay any or all the invoices in the portal with real-time updates in Intacct, update payment information on file, and even enroll in AutoPay to automatically charge their card when an invoice comes due; no more mailing of statements or taking calls for missing invoices. You can see a video here.

    2CP’s Shopping Cart to Cash integrations automate the entire sales cycle into Intacct. Our premier integration is for the Magento e-commerce platform (but we also have done Drupal, WooCommerce, XCart, and more), which we enhanced by partnering with MSA Systems QStock Inventory warehouse management system. Customers, sales orders, shippers, sales invoices, and payments, are all created in real-time based on customer purchases made in the cart via 2CP’s Shopping Cart to Cash application and warehouse personnel picking, packing, and shipping via QStock’s WMS. The result is increased visibility into daily sales, real-time inventory status, delayed customer charges for back-orders, increased payment information security, and reduced staff time uploading and reconciling. You can see a video including the WMS at QStock’s website here.

    If you would like to see our Intacct Platform applications in action come see us at Intacct Advantage in Orlando on November 9-13. 2CP will again be a Platinum Sponsor this year and will be exhibiting at Booth #100 in the Marketplace Expo where we will have demonstrations and videos throughout the show. If you’d like to setup a demonstration at the booth, at our hospitality suite, or via a webinar, please email us at intacct@2cpusa.com.

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    Media Contacts

    Peter Olson Director of Corporate Communications 408-878-0951 | polson [@] intacct.com Twitter: @Intacct_Peter
    Brittany Benson Senior Corporate Communications Manager 408-620-3938 | bbenson [@] intacct.com Twitter: @brittanybbenson