Forwardly
Forwardly (founded 2022), is a financial technology company based in the United States that provides a business payment platform for small and medium-sized businesses (SMBs). The platform aims to streamline business-to-business (B2B) transactions, focusing on real-time payments, invoicing, and bill management.
History
Forwardly was established in 2022 with the goal of modernizing payment processes for small businesses. The platform offers solutions for sending and receiving payments, integrating with common accounting software. Its services are designed to facilitate faster transactions and improve cash flow management for businesses.
Key Features and Services
Forwardly's platform includes several features intended to simplify financial operations for small businesses:
- Real-time Payments: The platform supports instant bank transfers, enabling businesses to send and receive payments 24/7. It also offers same-day ACH and credit card processing options.
- Invoicing and Bill Payments: Forwardly facilitates the creation and management of invoices and allows businesses to automate vendor bill payments. Features include smart approval workflows and the ability to schedule payments.
- Accounting Software Integration: The platform integrates with various accounting systems, including QuickBooks Online, Xero, FreshBooks, and ZohoBooks. This integration aims to provide a "4-way sync," automatically updating transaction data across the business, its customers, and vendors to minimize reconciliation errors.
- Cash Flow Management: By enabling faster payments and streamlined bill management, Forwardly aims to help businesses improve their cash flow and reduce administrative tasks associated with payment processing.
- Security: Forwardly states that its platform incorporates bank-grade encryption and fraud prevention measures, adhering to financial industry security standards.
- Team Collaboration: The platform offers access controls and permission settings, allowing administrators to manage team access and approval workflows for financial transactions.
- Cost Structure: Forwardly promotes a model without monthly charges or hidden costs for its core services.
Awards and Recognition
Forwardly and its predecessor, ForwardAI, have received several industry recognitions:
CPA Practice Advisor Technology Innovation Award (2024): Forwardly was recognized with this award in 2024.
Best Real-Time Payment Solution Award (PayTech Awards USA 2023): Forwardly received this award in 2023.
Accounting Tech of the Year – US FinTech Awards (2022 finalist): ForwardAI was a finalist for this award in 2022.
FoundersPress's List of Fastest Growing Fintech Companies (#17): Forwardly was ranked 17th on FoundersPress's list of fastest-growing fintech companies.