Two 5* rated, award winning Irish fintech companies join forces to bring an industry leading cloud automation workflow solution to their customers.
1.3.21 London Lightyear, one of the fastest growing AP software platforms and AccountsIQ, Financial Management Software (FMS) for mid-market SMEs with multiple subsidiaries, branches and locations, have joined together with the aim of producing a complete business automation and management solution.
AccountsIQ customers will be able to take advantage of Lightyear’s globally renowned Accounts Payable automation to streamline processes and cut out time-consuming tasks from their workflows.
We’re really excited about this partnership as we’ve great synergy with AccountsIQ. Both products have been designed for medium-sized businesses giving them the tools they need to automate processes across multiple sites and group structures.” – Chris Gregg Lightyear CEO.
AccountsIQ customers will be able to go paperless with their Accounts Payable by taking advantage of Lightyear’s incredibly accurate and fast line-item data-extraction technology from digital documents. Combined with Lightyear’s highly customisable multi-tiered approvals workflow, AccountsIQ users can build their own workflows allowing them to approve bills from their browser, mobile app or via emails meaning they can approve from anywhere.
Lightyear is a great solution for our larger customers, who typically process very high volumes of invoices, so it was the natural next step for us to form a mutually beneficial partnership.” Darren Cran, COO, AccountsIQ.
Customers will be able to use AccountsIQ’s full-featured FMS which is unique in providing Business Intelligence to give “one version of the truth” to multi-entity businesses: it handles complexities such as sub-groups, multiple currency revaluations, inter-company transactions and minority interests. It also uses artificial intelligence and an open API strategy to automatically synchronise bank accounts, generate electronic payments, auto-post electronic invoices and integrate front-end systems. Customers can ensure they are fully VAT compliant as it handles single entity & group VAT MTD submissions along with many other benefits.
How does the new workflow look?
Suppliers to AccountsIQ customers can email their bills to their customers’ personalised email address where Lightyear will extract all the details from their line-items instantly and accurately. Users will then be able to approve their invoices in a multi-tiered approval workflow that is customised to suit every business and situation. Invoices are then exported to AccountsIQ with all the rich product data.
The joint solution allows our joint customers to transition to a fully automated paperless Accounts Payable workflow solution that not only increases their efficiencies with previously manual processes, but also saves them a large amount of time at no significant cost.
Founded in 2017 by successful fintech entrepreneurs Chris & Roger Gregg, Lightyear is a 5* rated app in Capterra, have been named as the Accounts Payable category leaders by Get App and are named as the Front Runners in Accounts Payable software in 2021 by Software Advice. Their Procurement and Accounts Payable platform is revolutionising an archaic business process.
Launched in 2008 in Dublin, AccountsIQ’s award-winning cloud-based accounting software simplifies how multi-entity businesses capture, process and report their results. It provides anytime-anywhere access to dynamic businesses, growing via subsidiaries, branches, SPVs or through a franchise model. Its unique architecture allows it to consolidate thousands of entities in a group. Its open API allows integration with 3rd party software and it is already integrated with Lightyear, TransferMate Global Payments, BrightPay, Chaser, Stripe, Fusebill, Salesforce and ISAMs.
Today, AccountsIQ is used by 4,000 businesses across 85 countries. Blue chip partners and customers across a range of sectors enjoy worldwide 24/7 access to top level FMS functionality and smartphone apps, delivering comprehensive consolidated results and a superior level of business insight. AccountsIQ was awarded Enterprise Accounting Software of the Year 2019 and 2018, was a finalist in 2020 and has been ranked in the top half of the Deloitte’s Technology Fast 50 high growth index for the past 6 years.