Case Study: Capital Lock achieves faster payments and saves time with AvidXchange

How Straight Through Processing Automates Delivery and Receipt of Payments for a Busy Small Business

Capital Lock, a long-standing locksmith and security-products provider in Madison, Wisconsin, was burdened by a high-volume, manual accounts receivable process. Servicing hundreds of customers and property managers meant thousands of invoices yearly, with most payments arriving as slow paper checks and credit-card transactions requiring time-consuming manual entry and high fees.

In January 2022 the company implemented AvidXchange’s virtual card Straight Through Processing to automate payment delivery and receipt. The solution eliminated manual check deposits and keying of card numbers, sped up payments, reduced costs and freed time (at least an hour per week and far more during peak turnover), and made Capital Lock more willing to accept card payments thanks to the net time and cost savings.

Capital Lock

Bryce Clark

Co-Owner