Drum roll... We are delighted to announce that Lightyear is now listed on the Intuit Apps Store (apps.com) for Australia and the United Kingdom
Lightyear, an Accounts Payable automation solution, was founded by former Intuit executives Chris and Roger Gregg and launched in September 2018.
Chris Gregg, CEO, commented “QuickBooks is one of the leading cloud accounting software solutions in our core target markets of Australia, UK and North America, with over 3 million businesses on their platform.
“Apps.com has many small business expense management solutions to choose from, however larger businesses and product based businesses who require advanced Accounts Payable solutions are not well catered for. Typically we’ve seen that they require features such as line by line product data extraction, multi approval workflows, automatic price checking of products and much more.
“Our main focus when building Lightyear was to increase speed, accuracy and collaboration between AP teams, suppliers, internal stakeholders and their accountants / bookkeepers. Lightyear can save AP teams up to 80% of their processing time and this integration is another huge step towards saving even more time, facilitating a seamless 1 click sync of data between Lightyear and QuickBooks Online.”
The cost of Accounts Payable
The average cost to process a payables bill in the US is $15 with the average time to process at 40 days; similar to both the UK and Australian markets. This is staggering. With the increase in speed and efficiencies provided by Lightyear, businesses are able to reduce their Accounts Payable costs by up to 80% and get a real-time view of their business expenses, helping to better manage their cashflow.
Who do you cater for?
Lightyear is best suited for businesses who pay suppliers on deferred payment terms and require an approval process once bills are received. Due to our line-item data extraction and sync with inventory, businesses in product purchasing industries such as hospitality, retail, manufacturing, construction, healthcare, education and franchises are the ideal customer for Lightyear’s automation. However businesses of all shapes and sizes have signed up to Lightyear and are reaping the benefits of AP automation.
Lightyear Partner Program
The Lightyear Partner Program has been designed around Accountants and how they typically service their clients. Partners can choose to either purchase Lightyear credits for use with their own clients or have Lightyear bill clients directly. Each Partner gets a free Lightyear account for their own practice. For more information on the Lightyear Partner Program and to sign up, please visit www.lightyear.cloud/partner-program.
Headquartered in Belfast Northern Ireland and with an office in Sydney, Australia, and a sales team in London, England and Brisbane, Australia, Lightyear now as 22 staff and growing.
Continuing the strong association with Intuit, Lightyear’s head of customer care, Candice Lim, and BDM for Queensland, Chris Metcalf are also Intuit Australia alumni.
Lightyear has many unique features which position it as the leading choice for businesses that require advanced automation. Lightyear extracts line-item detail with 100% accuracy with GL codes and other coding applied to each line-item.The system price checks each product against the agreed on supplier prices. Lightyear can verify that the tax has been applied correctly and will place the bill in an approvals workflow creating an auditable record against the bill. The data from the bill is exported to accounting and inventory systems to keep everything up to date and 100% accurate. Finally the bill is stored in an online filing cabinet so you always have access and it is stored for the regulatory period in each country for auditing.