AbacusNext Launches APX Advanced Payment Processing

AbacusNext, a leading software provider for legal and accounting professionals, announced today the launch of the next generation of Abacus Payment Exchange (APX). APX is a payment processing solution that is fully integrated with AbacusNext practice management software for legal and accounting firms.

According to Pymnts.com, most organizations handle business-to-business payments through a variety of methods and tools, such as paper checks, ACH payments or virtual cards. Processes are often manual, and payment information is fragmented.

Firms using OfficeTools, Zola Suite, AbacusLaw, and Amicus Attorney can now manage the entire billing, payments and collections process within their practice management platform where they also manage clients, projects and communications.

Kevin Gallagher, a payment processing and fintech industry veteran with over 25 years’ experience in B2B payments, has joined AbacusNext as general manager for its payments division.

“AbacusNext has won the trust of accounting and law firms with high-performance practice management systems,” says Gallagher. “The payments market for professional services is growing rapidly, and integration will help these firms meet their business clients’ growing demands for speed, efficiency and security. I’m looking forward to continuing to expand our offering to provide for their evolving needs.”

APX is a secure and compliant solution that improves firm performance in managing cash flow with ease and speed. With APX, firms can plan payments in advance, get detailed transaction information and better manage overall financial performance.

Key capabilities in payment processing include:

An intuitive user interface that moves new clients from setup and approval to transacting in minutes.
Cash flow that is expedited with payments deposited into firm bank accounts within two business days
Integration with time and billing functions to simplify reconciliation and reporting.
A secure merchant payment portal that allows clients to view information on transactions, account information and additional reporting.
Client portal integration enabling firms to post invoices in a secure location, allowing their clients to view, download and pay invoices online.

Accounting and legal services firms can learn more about APX on the AbacusNext website.