The Forwardly Business Network (FBN) is the first truly universal business network designed to streamline and automate business payments and transactions. Unlike traditional networks that restrict users to a single accounting ecosystem, such as QuickBooks Business Network or Xero Connect, FBN enables seamless collaboration across multiple accounting systems, including QuickBooks Online, Xero, and other platforms.
By breaking down these silos, the Forwardly Business Network allows businesses to sync invoices and bills, request and receive payments, and pay vendors effortlessly. It automatically establishes connections between businesses during transactions, ensuring a frictionless payment experience without the need for manual data entry or repeated setup.
How is the Forwardly Business Network different from siloed accounting networks?
Many existing accounting networks are closed ecosystems that only support transactions between users of the same platform. This creates unnecessary friction for businesses working with partners using different accounting systems. The Forwardly Business Network eliminates these barriers by:
Connecting businesses across different accounting platforms
No restrictions on which accounting software your customers or vendors use. We currently support QuickBooks Online and Xero, with support for more accounting and ERP software coming soon.
Automating invoice and bill syncing
The Forwardly Business Network identifies invoices and bills across platforms, making transactions seamless.
Reducing manual effort
Once a connection is established, future transactions are automatically routed to the correct business counterpart.
Supporting multiple businesses under one account
Users managing multiple entities can streamline payments within a single Forwardly account.
Ensuring accurate records and smooth reconciliation
Payments received are linked to the correct outstanding invoices and bills reducing errors and eliminating duplicate entries.
How does the Forwardly Business Network work?
FBN simplifies and automates business transactions by integrating with your existing accounting software. Here’s how:
Invoice Payments Workflow
Syncing invoices: Your contacts and invoices automatically sync from your connected accounting system.
First-Time Payment Request
- Search for the customer in the Forwardly Business Network and send a payment request.
- If the customer isn’t found, send a request via email.
Payment Processing
- If the customer is already in the Forwardly Business Network, the invoice appears in their outstanding bills section.
- If they are not in the Forwardly Business Network, they receive an email with a payment link, where they confirm their business and complete payment.
Once a payer is identified, future invoices are automatically routed to them, eliminating redundant manual entry.
Bill Payments Workflow
Syncing bills: Your contacts and bills are imported from your accounting system.
First-Time Bill Payment Request
- Search for the vendor in the Forwardly Business Network and send a payment.
- If the vendor isn’t found, send a payment link via email.
Payment Processing
- If the vendor is in the Forwardly Business Network, the bill payment is automatically recorded in their system.
- If they are not in the Forwardly Business Network, they receive a payment notification and confirm where they want to receive the funds.
Future payments: Once a vendor is identified, future payments are automatically routed, making vendor payments effortless.
What are the benefits of using the Forwardly Business Network for business payments?
Eliminates payment friction
The FBN connects businesses across different accounting systems, allowing seamless transactions between QuickBooks Online, Xero, and more.
Automates payment processes
With the FBN’s auto-routing feature, future invoices and payments are automatically linked to the correct customers and vendors, eliminating manual effort.
Ensures faster payment collections
By establishing direct payment channels between businesses, the FBN helps reduce delays and speeds up accounts receivable (AR) collections.
Minimizes errors & improves accuracy
Payments received are automatically matched to outstanding invoices, preventing duplicate transactions and reducing reconciliation issues.
Multi-business support in one dashboard
Manage payments for multiple businesses from a single Forwardly account, reducing complexity for companies with multiple entities.
Supports guest payers & payees
Even if a business is not yet registered with Forwardly, it can still receive and process payments through guest payer and payee functionality.
Update payment information quickly
Businesses can update payment information for multiple suppliers with a single action, eliminating the need to update each supplier individually and reducing the likelihood of transaction failures due to outdated payment details.
How can my business join the Forwardly Business Network?
If you own or manage finances for a US-based business, you can connect it to the Forwardly Business Network (FBN) by creating an account and adding your business. There's no cost associated with joining or keeping your business connected.
Already a Forwardly user? Log in to your account and start using the FBN today!
New to Forwardly? Sign up and experience the future of business payments.