back Back

Anchor and CalCPA partner to bring autonomous billing & collections to the accounting industry

By Edlyn Cardoza

September 12, 2022

  • Anchor
  • B2B Billing
  • CalCPA
Share

CalCPA, Anchor, B2B Billing & Collections Platform, Late Payments, Revenue Leakage, CPAs, USAAnchor, the autonomous B2B billing & collections platform, partners with the California Society of Certified Public Accountants (CalCPA) to bring its platform to the largest statewide professional association of CPAs in the U.S. Through the partnership, Anchor provides CalCPA members exclusive pricing and discounts as well as dedicated staff to support their members to access its end-to-end billing & collections automation platform, which eliminates late payments, revenue leakage, manual work, and high operational costs.

“We are thrilled to partner with CalCPA to facilitate the growth of everyday accounting firms and CPAs, by changing the way payments and billing processes are managed today,” says Rom Lakritz, CEO and Co-Founder at Anchor. “CalCPA is an incredibly prestigious and innovative organization and we are proud to provide our platform to their wide network of CPAs and financial professionals across many different industries and sectors.”

As more industries embrace automations to streamline operations, cash-flow-sensitive small and medium businesses are often left behind. Addressing the progress gap is especially vital to benefit everyday accounting professionals that deal with tedious and manual multi-step processes, constant technological changes, pressure to remain cost-effective, and limited time to deliver billable services.

Through this partnership, CalCPA members can now leverage Anchor’s platform to completely automate every laborious step in the billing and collections process– including agreements, e-signatures, invoicing, payment collection, and reconciliation. The software eliminates businesses’ late payments and firms’ revenue leakage, which impacts 2-5% of businesses’ top lines on average.

“Anchor is emphasizing how technology and automation can help accounting match other complex industries in innovation,” says Denise LeDuc Froemming, CPA, CAE, President and CEO of CalCPA. “Creating benefits and bringing innovation to our members is a priority for CalCPA, and partnering with a new company helps address more efficiency and business management challenges for CPAs everywhere.”

Additionally, Anchor’s end-to-end platform helps members cut costs during the market downturn by consolidating multiple software technologies into one solution. This enables firms to save resources spent on manual administrative work and focus them on billable hour tasks, contributing directly to their top-line revenue by an average of 5-9% annually.

Anchor’s platform addresses accounting firms’ and financial professionals’ complex and dynamic needs. The platform allows firms to create live agreements that accommodate flexible billing terms, easily setting up hourly, fixed, recurring, and non-recurring agreements. Once the billing date arrives, the platform automatically distributes invoices based on the pre-approved agreement terms. These terms can include price, hourly quantity caps, services, terms, and additional data from integrated office software.

Clients add their payment details to the live agreement prior to initiating the service, automatically allowing the system to charge clients through a pre-approved payment method, ensuring the business always gets paid on time. Anchor then reconciles the transaction into the firm’s general ledger.

Previous Article

September 12, 2022

Gulf International Bank extends partnership with Beehive

Read More
Next Article

September 12, 2022

Leading investment management firm implements GBST’s Pre-Trade Tax Analyser

Read More










IBSi Daily News Analysis

fraud, FinTech

November 25, 2022

Anchor

Why UK FinTechs are investing heavily in APP fraud prevention

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

November 25, 2022

Honeywell launches Honeywell Smart Pay to help merchants meet customer needs

Read More

November 25, 2022

Suresh Viswanathan joins Nationwide as Chief Operating Officer

Read More

November 25, 2022

ZA Bank integrates with Wise to launch ZA Remit

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q3 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q3 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q3 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q3 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022