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Lockstep is a SaaS platform that connects accounts receivable and accounts payable departments to eliminate cash traps and leaks caused by manual synchronization of books between B2B trading partners. It integrates with over 40 ERP and accounting solutions and helps process over one million invoices per month across more than 4 million entities. Customers see an average 20x ROI by investing in collections automation, improving cash flow by 31% or more.
HQ Location
Seattle, Washington
Year Founded
Number of Employees
  • Automation

    Automates repetitive tasks

  • Collaboration

    Allows for easy collaboration between team members

  • Security

    Provides secure access to sensitive data

  • Integration

    May not integrate well with other software

  • Customization

    May not allow for extensive customization

  • Pricing

    Pricing may be too high for some businesses

  • Growing market demand for automation and collaboration tools
  • Opportunity to expand into new markets or industries
  • Opportunity to form partnerships with other software providers
  • Competition from other automation and collaboration software providers
  • Potential for security breaches or data leaks
  • Potential for decreased demand during economic downturns

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Review Distribution

  • 👍
    High - rated users

    This software is very easy to use. I was able to be up and collecting with minimal training. It's certainly made my job easier - no more manual emails and our customers are paying more promptly!.I'm still learning all the tricks to using the software effectively so the only thing that causes a little extra work is reloading updated invoices. Since we only have 2-3 a day it's not a big deal.

  • 🤔
    Average - rated users

    It helps me organize, track, analyze and collect. Pretty much everything I need to do.I wish there were written instructions for each application so when I have a question or have forgotten how to do something I could just search the question and an answer would pop. A simple answer like, click here, then here, then here and you're done. But there isn't - which leads to a lot of frustration.

  • 👎
    Low - rated users

    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 questions have been addressed promptly. Lockstep has excellent customer service. The feature I like the most is the automated reminder notices, which allows our collectors to make phone calls instead of sending emails. Phone calls are an opportunity to develop relationships with our customers. In turn, our customers are more likely to pay our company over other vendors because they value the business relationship. The Lockstep platform allows the admin to create rules to generate activities. It is very user-friendly from an admin and a credit user perspective.We dislike having to use a third-party merchant vendor for our credit card and ACH Payments. We want to switch merchant vendors, but the options are limited. Finding a merchant vendor to meet all of our business needs has been difficult.


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Lockstep Plan

Lockstep offers a tiered pricing model with three versions, ranging from $10-$30 per user per month, with increasing features.
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