The California Society of Certified Public Accountants (CalCPA) is working with autonomous billing and collections platform Anchor.
The collaboration will offer Anchor’s billing and accounts receivable (AR) solution to America’s largest statewide accounting professionals organization, according to a Thursday (Sept. 8) press release.
“As more industries embrace emerging technology to streamline operations, [small- to medium-sized businesses (SMBs)] are often left behind,” the release stated. “CPAs also report feelings of daily stress at work, and dealing with rudimentary technology or antiquated procedures does nothing to alleviate this pressure. Addressing the progress gap is especially vital to benefit everyday accounting professionals that deal with tedious, multi-step accounts receivables processes.”
Anchor will give CalCPA members exclusive pricing and discounts as well as access to the company’s billing and collections automation platform, designed to eliminate late payments, revenue leakage, manual work and high operational costs, according to the release.
“In addition, Anchor’s consolidated platform will help members cut costs during the market downturn by consolidating multiple software into one solution and by saving resources spent on manual administrative work instead of on billable hours which impact 5% to 9% of the top line, on average, for Anchor’s existing clients,” the release stated.
Headquartered in Tel Aviv, was founded in 2019 by CEO Rom Lakritz, Chief Technology Officer Leeor Aharon and Chief Revenue Officer Omry Man. In April, Anchor announced that its platform, which allows businesses to make electronic agreements, which are a more versatile, non-blockchain version of smart contracts, was looking to streamline SMB transactions.
Read more: Israeli Startup Anchor Builds Streamlined B2B Payments Processing Platform
In an interview with PYMNTS last year, Lakrtiz spoke about how his company wants to build trust between parties. If people can trust invoices from service providers the way they do invoices from companies like Amazon, the billing and payment process becomes less painful.
See more: Lagging Service Sector Subscription Models Lack Automated B2B Payments
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