Forwardly Network Connects Business Payments and Accounting Data Across Platforms

Forwardly today announced the expansion of the Forwardly Network, a connected financial infrastructure that enables businesses to transact, exchange payment data, and sync accounting records directly with their customers and vendors.

When two businesses are connected on the Forwardly Network, bank payments between them can move without payment processing fees, regardless of payment speed. This includes instant transfers through FedNow and the RTP Network, as well as same-day, next-day, and standard ACH.

The network also connects invoice, payment, and remittance data between businesses using different accounting and ERP platforms. This means businesses can exchange structured financial data without emailing PDFs, manually entering invoice information, or reconciling payments by hand.

Connecting the entire transaction

Traditional B2B financial workflows often depend on documents and email. An invoice is emailed to a customer, someone downloads or enters the information into their accounting system, and payment details are later reconciled manually.

The Forwardly Network is designed to keep that transaction connected from invoice creation through payment and reconciliation.

For example, a business using QuickBooks Online can transact with a customer using NetSuite through Forwardly. Invoice information can flow directly to the customer's accounting system, while payment status and remittance information flow back to the seller.

The Forwardly Network currently supports nine accounting and ERP platforms:

• QuickBooks Online

• Xero

• Oracle NetSuite

• Sage Intacct

• Microsoft Dynamics 365

• Intuit Enterprise Suite

• Campfire

• Zoho Books

• FreshBooks

Less manual work for finance teams

When customers and vendors are connected on the Forwardly Network, businesses can eliminate many of the manual steps involved in exchanging financial information.

Instead of:

• Emailing invoices and PDFs

• Re-entering invoice and bill information

• Manually matching payments

• Chasing payment status

• Sending remittance information separately

Connected businesses can exchange structured data directly between their accounting systems.

Payment status is visible to both sides in real time, while invoice and payment information can automatically flow into the appropriate accounting records.

“Most businesses we speak with are still running their finances on documents and email. The Forwardly Network changes the underlying infrastructure. When two businesses connect, the transaction stays connected across both sides of the ledger automatically.”

— Nick Chandi, CEO and Co-Founder of Forwardly

Helping businesses keep more of what they earn

For businesses already using Forwardly, connecting customers and vendors to the network can also reduce the cost of moving money.

As Kate Josephine Johnson, Owner of Heritage Business Services, shared:

“A lot of my clients ask me for advice about getting some relief from payment processing fees, and this is just another step forward in helping them keep even more of their hard-earned money.”

Businesses can see which customers and vendors are already connected and invite others directly from their AR and AP workflows.

As more businesses join, the Forwardly Network creates a connected environment where payments and financial data can move between businesses, even when they use different accounting or ERP systems.

New businesses can join Forwardly and start using the platform today.

Original announcement published on EINPresswire.