Forwardly – 2024 Innovation Award Winner

Forwardly
2024 CPA Practice Advisor Innovation Award Winner
https://www.forwardly.com

Forwardly exemplifies innovation in accounting as the first B2B real-time payment solution in the USA, transforming financial management for small businesses and accounting professionals. Our cutting-edge platform, which is the only accessible business payment solution powered by the FedNow Service® and RTP Network®, processes transactions in 60 seconds, 24/7/365, dramatically improving cash flow management. Our innovation has been widely recognized, winning “Accounting Tech of the Year” at the 2023 US FinTech Awards and “Best Real-Time Payments Solution” at the PayTech Awards USA 2023.

While competitors are only now catching up with “instant” payments, often relying on misleading digital wallet solutions, Forwardly offers genuine instant payments through direct bank-to-bank transfers. We stand out as the most affordable option in the market, with instant payments priced at just 1% and capped at $10 for all received transactions with no fee to send. For receivers whose banks don’t support instant payments, we provide free same-day ACH bank transfers.

Our unique 4-way sync technology – an industry first – revolutionizes invoice management by automatically synchronizing transactional data across QuickBooks Online, Xero, FreshBooks, and Zoho Books. For example, if an accountant uses Forwardly to create invoices for their client payments due, clients whom they have also signed up for Forwardly, Forwardly will create the bill in the clients’ accounting software and then reconcile both invoice and bill once the payment is complete. This new feature ensures accurate, up-to-date financial records for accountants, their clients, and their vendors. By eliminating tedious repetition, we aim to seriously reduce the busy work that often weighs down accountants.

Forwardly’s automated payment processes, including bill payments, invoice management, payment reminders, and reconciliation, significantly reduce manual tasks. Our customizable payment approval workflow feature enhances control and oversight of payments and is free, potentially saving accountants hundreds of dollars per year when switching from costly approval tools.