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Is This FinTech Revolutionising Accounting Teams’ Collaboration and Cash Flow?

In the dynamic FinTech landscape, a new player is making significant waves. Enter Lockstep, a revolutionary company redefining the way accounting teams operate. The Seattle-based startup promises to create efficient, error-free collaborations between accounting teams, drastically improving cash flow management. This promises to be a game-changer in the world of accounting and finance.

Plagued by inefficient manual transcription of paper, email, and PDF documents into their accounting systems, accounting teams often find themselves in a constant struggle with cash traps in receivables and cash leakages in payables. Lockstep has intervened to tackle these challenges head-on with their innovative solutions.

Key Takeaways

  • Lockstep is a FinTech startup aiming to revolutionize accounting workflows.
  • The company automates the manual process of transcription, reducing errors and improving efficiency.
  • Promising a more reliable and current connection between accounting systems, Lockstep is a potential game-changer in cash flow management.
  • Co-founded by Matt Shanahan and Peter Horadan, Lockstep is based out of Seattle, WA, USA.

What sets Lockstep apart is its commitment to reinventing the current relationship between accounting systems. By transforming the cluttered network of emails into trusted connections between these systems, they have touched upon a need surfacing in the landscape of accounting. The result is a drastic improvement in accuracy and timeliness, which in turn bolsters cash flow and allows staff to focus on more valuable activities.

Beyond this, Lockstep rises above its competitors by making the overall experience for accounting teams stress-free. By eliminating the need for manual transcription, companies can significantly reduce errors that often lead to complicated financial discrepancies. Lockstep’s solutions are not only efficient and reliable, but also force-multipliers for productivity within the accounting department.

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With its vision and innovative offerings, Lockstep’s future looks bright. As businesses look for smarter and more efficient ways to manage their financial transactions, tools like that provided by Lockstep become indispensable. Companies stand to benefit greatly from improved accounting accuracy, better cash flow management, and more time to focus on mission-critical tasks.

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