AbacusNext, a leading provider of software for legal and accounting professionals, today announced the launch of the next generation Abacus Payment Exchange (APX). APX is a payment processing solution fully integrated with AbacusNext practice management software for legal and accounting firms.
According to Pymnts.com, most organizations handle business-to-business payments through a variety of methods and tools, such as paper checks, ACH payments, or virtual cards. Processes are often manual and payment information is fragmented.
Firms using OfficeTools, Zola Suite, AbacusLaw and Amicus Attorney can now manage the entire billing, payment and collections process within their firm management platform where they also manage clients, projects and communications.
Kevin Gallagher, a payment processing and fintech industry veteran with over 25 years of experience in B2B payments, has joined AbacusNext as Managing Director of its Payments Division.
“AbacusNext has earned the trust of accounting and law firms with high-performance practice management systems,” said Gallagher. “The market for payments for professional services is growing rapidly, and the integration will help these companies meet the increasing demands for speed, efficiency and security from their business customers. I look forward to continuing to expand our offering to meet their ever-changing needs.
APX is a secure and compliant solution that improves business performance in cash flow management with ease and speed. With APX, businesses can plan their payments in advance, get detailed transaction insights, and better manage their overall financial performance.
Key payment processing features include:
- An intuitive user interface that takes new customers from setup and approval to transaction in minutes.
- Accelerated cash flow with payments deposited into firm bank accounts within two business days
- Integration with time tracking and invoicing functions to simplify reconciliation and reporting.
- A secure merchant payment portal that allows customers to view transaction information, account information, and additional reports.
- Customer portal integration allowing companies to post invoices in a secure location, allowing their customers to view, download and pay invoices online.
Accounting and legal firms can learn more about APX on the AbacusNext website.