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Invoices must be manually created, printed, and mailed; then you wait for the customer to open the envelope, enter the invoice into his or her own system, process the invoice, print a check, and mail it to your company; then your staff has to open the envelope, deposit the check, and match the payment to the outstanding invoice.
Even when I was at Intuit, we were building an open ecosystem- Blake Oliver: [00:09:22] Right. David Leary: [00:09:22] -to where apps starting to be purchased or functionality is being built into the accountingsoftware. David Leary: [00:30:45] They were founded in 2017. million.
Stay tuned to hear more from our sponsor, Liscio, later in the episode. Blake Oliver: [00:00:28] Back in 2017, not that long ago, the AICPA did a demographic trends report, finding that nine percent of students enrolling into accounting bachelor's programs are Black. At least 1,020 duplicate deposits were issued for PPP.
I know we've been thinking, oh, it's gonna be 2016, 2017. Blake Oliver: [00:17:20] Yeah. I mean, that, to me, is the future of banking - the way it should work with accountingsoftware; rather than having to rekey stuff or rather than having the document go into the bill-pay solution and then, sync into the accounting system.
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