On September 26th, 2023, Jane Ingram and Nick Chandi from Forwardly joined us for a Deep Dive and we were so excited to learn more about this new tech!
Jane Ingram is the Director of Operations at ForwardAI and the creator of Forwardly! She has worked with small businesses for most of her life and went to school for marketing. She has been working with Forwardly and ForwardAI for the last 3 years, we first met her at SNH and have been having fun since!
Nick Chandi is CEO and co-founder of Forwardly as well as the brain man behind it! He has been working in the accounting world for over 20 years! He built one of the largest IT Consulting Companies in Canada that was providing cloud hosting consulting only to accounting firms. He sold that company in 2019 and has been focused on this new endeavor since!
Nick shared with us how a business can receive a payment from another business in just seconds! In their app, there are only 3 steps. First is to connect your accounting system, which gives access to your data such as clients, customers, and chart of accounts. Then you will connect your bank account, and choose where you want to receive your payment. Then you can send those payment requests out! You can choose if you want it to be a 1-time payment request or autocollect. Forwardly will get payment authorization from your client so that in the future they can automatically collect those funds. This would be a bank-to-bank transfer that would happen so fast it would feel instant.
We all know that many small businesses fail because of cash flow gaps. This is helping those delays by giving small businesses faster access to that money. We know that there are other apps out there for receiving money, but those aren’t always specific to businesses.
Traditionally we have always been excited to see what our sponsors come up with for a drink! This week’s drink was the Accountant Reviver No.2 and it’s so perfect because lately, it feels like we are going into a new era in the accounting world.