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Lockstep Reviews & Product Details - Page 2

Lockstep Overview

What is Lockstep?

Lockstep connects the world's accounts receivable (AR) and accounts payable (AP) departments so they can work better together. Founded in 2019, Lockstep eliminates cash traps and leaks created from manual synchronization of books between B2B trading partners. Lockstep's connected accounting cloud empowers trusted, compliant accounting relationships between businesses of all sizes. High-performance companies large and small run their collections on Lockstep Collect. Helping our customers process more than one million invoices per month across more than 4 million entities, Lockstep integrates over 40 ERP and accounting solutions into our connected accounting cloud. Our customers see an average 20x ROI by investing in collections automation improving cash flow by 31% or more. For more information please visit: www.lockstep.io.

Lockstep Details
Languages Supported
English, Spanish
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Product Description

Lockstep improves cash flow by 31% or more and makes collections one less thing to worry about.

How do you position yourself against your competitors?

Because every finance team has their own unique requirements for AR, Lockstep Collect has industry-leading configurability to match the business rules, automation, workflow, and reporting that is required. This also includes support for multi-entity and multi-currency. We integrate with more accounting systems and ERPs in the mid-market and Salesforce Sales and Service Clouds.

Our solution has advanced projected cash receipts to give deep visibility into timing of cash inflow and team activity reporting that lets you measure team performance to know each person’s impact on the cash flow.

Our solution provides self-service tools for customers to move off paper, access their accounts online, and make online payments. Additionally, we provide customer adoption reporting of the self-service portal.

We have over 10 years of experience automating AR. Our best practice templates and business rules gives you the best head start while providing full benchmarking of your ROI post-implementation.


Seller Details
Seller
Lockstep
Year Founded
2023
HQ Location
Remote, US
LinkedIn® Page
www.linkedin.com
37 employees on LinkedIn®

WG
Overview Provided by:

Recent Lockstep Reviews

Verified User
U
Verified UserMid-Market (51-1000 emp.)
5.0 out of 5
"Lockstep Collect AR Automation Tools and Business Solutions"
I like the automated reminders set up to help make contact with all open accounts that you may not have time in your day to address! I also like th...
JP
Julie P.Small-Business (50 or fewer emp.)
5.0 out of 5
"User Friendly Collections System"
The thing I like most about Lockstep is the people. Everyone I have worked with so far has been very friendly and attentive, and my issues and que...
Verified User
U
Verified UserMid-Market (51-1000 emp.)
4.0 out of 5
"Overall good experience."
Automated invoice and statement email. Portal for customers to see their invoices.
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Lockstep Media

Lockstep Demo - Lockstep Collect - Dashboard and Reporting
Want more visibility and reporting capabilities? Lockstep Collect's dashboard helps companies track customer payments and predicts payment behavior allowing them to make smarter decisions. 
Lockstep Demo - Lockstep Collect - Customer Portal
Magic Link Authentication lets your customers review statements and download invoices from a customer portal without having to enter a password, as well as Promise-to-Pay records customers payment commitments and automates follow-up, Smart Disputes provide line item annotation clarify the details...
Lockstep Demo - Lockstep Collect - Communications
Customize communications with customers to fit your unique needs and give customers one-click access to all the information they need to make a payment.
Lockstep Demo - Lockstep Collect - Triggered Activities
Get the right information to the right customer at the right time. Trigger personalized outbound communications according to your collections policies at each stage of invoice aging.
Lockstep Demo - Lockstep Collect - Prioritized Activities
Focus your team on the next best activity and give them 360-degree view of customers to complete activities faster.
Lockstep Demo - Lockstep Collect - Activity Reporting
Manage onsite and remote teams with ease.
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36 Lockstep Reviews

4.3 out of 5
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36 Lockstep Reviews
4.3 out of 5
36 Lockstep Reviews
4.3 out of 5

Overall Review Sentiment for LockstepQuestion

Time to Implement
<1 day
>12 months
Return on Investment
<6 months
48+ months
Ease of Setup
0 (Difficult)
10 (Easy)
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G2 reviews are authentic and verified.
JS
Director of Business Systems
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Lockstep?

The automatic email reach outs to clients let's our collections team to focus on responses and research instead of manually sending out email reminders. The scheduling of human touch reach outs helps our collections team know where they should focus. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

Performance is sometimes slow, but I know they're working on that. Since the merger there have been a few hiccups in buggy releases, but they're also working on that and the last one was more stable. Review collected by and hosted on G2.com.

Recommendations to others considering Lockstep:

Get to understand how scheduled actions work as quickly as possible. This was a learning curve for the team because you can't edit a scheduled action, you create a new communication from it. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

Automation of our email reach outs has had a huge impact. In the first year of using ATC, our AR Over 60 Days improved by 40%! Review collected by and hosted on G2.com.

Faith P.
FP
Receivables Manager
Mid-Market(51-1000 emp.)
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Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Lockstep?

This is a program that offers the best of collection technology. The automation of the collection processes has improved our ability to efficiently and effectively collect our AR. The elimination of manual emails, the ability to imput and track collection contacts has reduced our DSO and allowed us to easily meet our collection goals. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

I would like to see a real time environment. Currently the program only updates data once a day. Review collected by and hosted on G2.com.

Recommendations to others considering Lockstep:

Don't wait on implementing this software. It's a great value. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

We are able to make initial collection contacts automatically which frees up time to work on the problems. The ability to track and easily respond to disputes, resulting in a faster resolution. Customers also have the ability to see their statements and download invoices, making their job easier. Review collected by and hosted on G2.com.

Benjamin R.
BR
Credit Manager
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Lockstep?

Anytime Collect offers so much to the collection industry. It can automate emails and responses and include individual links to customers' accounts so they can even manager their own open receivables. It is easy to assign accounts to collectors and to design collection plans and tasks so that each account received the right level of attention. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

The only downside to ATC is that it does require some ramp-up time for employees and this kind of additional training can really strain already overworked departments. The upshot of all this is that with the increased automation with ATC, the future will always be better than the past collection procedures. Review collected by and hosted on G2.com.

Recommendations to others considering Lockstep:

It is a serious upgrade over almost any competitor's collection software. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

We solved the issue of dealing with acquisition account receivables which can overwhelm a department when loaded all at once. With ATC it is possible to handle an influx of accounts with ease by sending automated email collection messages with payment links so that many accounts can be handled without direct collector interaction. Review collected by and hosted on G2.com.

AP
Controller
Small-Business(50 or fewer emp.)
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Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Lockstep?

Easy to navigate, the ease of communication to customers, and the ability to send mass communication and collection notices rapidly. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

There is no mobile app currently, it would be great to have some visibility through the mobile device. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

Reducing customer calls due to the access to their online account. It is causing an increase in productivity within the department. Review collected by and hosted on G2.com.

Verified User in Retail
UR
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Lockstep?

ATC has consolidated our communications and A/R management into one system. This has greatly increased our efficiency. Also, the communication templates and automation have reduced the amount of manual work that needed to be done. The implementation and support staff have been excellent. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

Since it is a web based program we sometimes see slow downs of the website. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

Anytime Collect has become our accounts receivable database. We track account balances, pay performance and communications in one place which makes our AR process more efficient. Review collected by and hosted on G2.com.

Verified User in Building Materials
AB
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Lockstep?

The ability to customize the software to fit our specific business needs, as well as customize our customer's dashboard.

Communication Templates are easily customizable and customer response time has significantly increased. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

Recent upgrades and improvements have resolved past concerns and made the program much easier to use for Admins and customers. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

Previously, sync times were taking too long. AnyTime Collect has since resolved and sync times are now seamless. Review collected by and hosted on G2.com.

LB
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Lockstep?

No longer using spreadsheets and handwritten notes for collections! Anytime Collect has made it super easy with the automation of collection emails, the capability to maintain notes. Our customers love the self-service ability to retrieve their statement and invoices, as well as, pay with credit card through Anytime Collect. The ATC team is constantly looking to improve their software and values their customer's feedback. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

There is a bit of a learning curve especially during setup, however you do have access to a very knowledge team that is always willing to train and assist. There is also a great resource of online video tutorials and they have monthly training webinars as well. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

Anytime Collect has helped us greatly improve our DSO. It's also such a time saver. For me, it's much faster and easier to send invoices/statements to our customer through ATC than through our ERP system. I also like that anyone with the proper access can easily see all of my notes on a customer's account, should any question arises. ATC allows me to focus my attention on other issues now that some tasks are now automated. Review collected by and hosted on G2.com.

SP
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Verified Current User
Review source: Organic
What do you like best about Lockstep?

I like how easy it is to make scheduled calls and keep track of were you are at in the collection process with each customer. You have everything for each customer in one convent location, invoices, payments, payment plans, emails, everything! Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

Sometimes the system does have glitches, but what technology doesn't. It can also be slow at times so when I am on the phone at the time it can be challenging. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

Our average days to collect has gone down significantly and that is due to how easy it is to keep track of calls and days past due with the system. Auto-Emails being generated by Anytime collect have not only helped customers with paying invoices but saved the company so much time. Review collected by and hosted on G2.com.

Tiffanie K.
TK
Senior Credit and Collections Specialist
Consumer Goods
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Lockstep?

I like that everything is noted in one place. There is no longer a need to copy and past emails from Outlook into the ERP for everyone to see. I love that we can organize automated efforts and easily edit them as things change with our aging. Additonally. the team at ATC makes it easy to ask questions and quickly replies to all concerns. My day revolves 80% around utilizing this system; knowing the support is there and that our concerns/needs are taken seriously make this product a definite win. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

I only one have one dislike and that has to do with the inability to copy and paste an image into my emails. In order to send a screenshot of information, the user must paste it into a word/excel document and then attach. There are times I want that image to be right there to see without opening an attachment. All too often a customer will say they never received it, or they are skimming an email and don't take the time to review anything that isn't "in their face". Review collected by and hosted on G2.com.

Recommendations to others considering Lockstep:

Implementing Anytime Collect to handle our collections workflow was a very east process. The team at ATC is very supportive and makes themselves available to answer any questions regardless of where in the process you are. This software offers the ability to categorize receivables without the need to create additional reports within your current ERP. Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

We use ATC to organize all of our collections efforts. The software has assisted in our ability to contact any customer with a past due balance with their automated notices. Additionally, we have been able to segregate portfolios and then adjust as necessary to manage workflow. ATC makes this process easy and efficient while also saving time. Review collected by and hosted on G2.com.

SM
Mid-Market(51-1000 emp.)
More Options
Validated Reviewer
Review source: Organic
What do you like best about Lockstep?

I like that when I have something I need help with that Anytime Collect is there to help right on the spot. Review collected by and hosted on G2.com.

What do you dislike about Lockstep?

I would really like a printed manual. There is an on line help that you can print out. But I would like everything in a printout so I can make my notes. Review collected by and hosted on G2.com.

Recommendations to others considering Lockstep:

This software will help automate your Accounts Receivables. You will have more time to do other things. You will know each day who you need to contact and what action you need to take. Makes like easier. Great Customer Service. Always ready to help with anything you need. Great Company !! Review collected by and hosted on G2.com.

What problems is Lockstep solving and how is that benefiting you?

I like the automation of emails. That really helps and free up our time. Review collected by and hosted on G2.com.