Product News: Crowe launches automated bank rec for hospitals

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A roundup of news on products for accountants and their clients, including updates from Invoiced, OnPay and M3.

Crowe launches automated bank reconciliation offering for hospitals

Top 100 Firm Crowe has automated bank reconciliation for hospitals with its new offering, Crowe Automated Reconciliation for Healthcare. The product automates cash deposit data by performing a daily, three-way match between the general ledger, patient accounting system and the bank, with the goal of improving the accuracy of the balance sheet and financial disclosures.

“While a number of reconciliation solutions have been created for hospitals, until now none of them combined the general ledger, patient accounting system and bank account,” said Crowe healthcare advisory principal Jay Sutton in a statement. “We saw a real need for a comprehensive automation tool that could bring together the disparate systems while reducing some of the time-consuming data entry tasks.”

Invoiced automates more than $40B in receivables

Invoiced, which provides accounts receivable automation software, finished 2018 with milestones including serving more than 20,000 customers and automating more than $40 billion in receivables. Also in 2018 Invoiced issued more than seven million invoices for its customers. Building on its strategy serving small business, Invoiced entered the mid-market segment in last year to help bigger companies tackle their A/R challenges and automate the work associated with managing hundreds or thousands of invoices per month.

OnPay named ADA's official payroll software

OnPay has been named the exclusive payroll solution for American Dental Association members. OnPay provides a full-service payroll solution along with support available via chat, email and phone. The platform integrates with accounting, time-keeping and attendance software. With the endorsement, ADA members will be able to access preferred pricing and services to incentivize making the switch, which accountants who serve dental practices can also use to their advantage if their client switches. OnPay’s fee includes the automated processing of all state and federal tax payments and filings, and users also receive an error-free guarantee. As a special endorsement launch promotion, a dental practice that wants to switch to OnPay will have all of its employee data migrated and receive the first month of payroll for free. Users have access to unlimited pay runs for a $36 monthly base charge, plus $4 per active person with no additional hidden fees.

M3 wins 2019 HotelTechAward for Best Accounting and Finance Software

M3, which provides accounting software for hotels, has received the 2019 HotelTechAward for Best Accounting and Finance Software from Hotel Tech Report, which provides ratings and reviews for hotel tech. Customers gave M3 high marks for the solution’s ease of use, value, customer support, implementation and likelihood to recommend.

A cloud-based financial platform, M3’s software was built by hoteliers, and aims to drive cost savings, revenue enhancement and business insight. The platform works with other key systems and tools in the hospitality industry and offers accounting and financial analysis across entire portfolios with optional operations and time management features. The company offers customized accounting solutions to scale with a hotel’s needs.

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