KyckGlobal Accelerates Digital Payments, Automates 1099 IRS Filing for Payers

Recent raft of platform enhancements fully informed by customer feedback

 

ATLANTA, GA (March 19, 2020) Atlanta-based financial technology firm KyckGlobal, Inc. recently announced a major raft of customer-driven improvements to its innovative payments platform. Founded in 2018, KyckGlobal simplifies outbound disbursements in four key verticals: specialty finance, marketplaces, claims and appeasements, and multi-level marketing firms. The company’s cloud-based platform acts as a singular integrated solution for payment, reconciliation, settlement, customer service, delivery, and IRS compliance. Recent enhancements simplify the payment process even further and expand contractor management services and were the direct result of input from KyckGlobal clients. Of particular note:

  • Batch ACH payments: Payers can now combine multiple ACH debits into a single daily batch, as opposed to a new collection for every transaction. This feature significantly streamlines reconciliation for payers with large volumes of transactions.
  • Automated IRS filing: KyckGlobal can now file annual 1099 tax summaries with the IRS on behalf of the payer. This enhancement complements KyckGlobal’s current offering of digital W9s, automated TIN check, contractor payments, and annual 1099 generation.
  • Reduced data entry requirements: Data collection is now tailored to the payment type selected by the payee. This feature reduces human error and decreases the time to payment.
  • Next Action popups: Payers now see workflow ‘nudges’ that guide them to the next most probable action, reducing the click count throughout the platform.
  • Custom status flags: Payers can now define and apply unique flags to payments as an additional financial control measure. For instance, a warning flag can be made to appear when a payment exceeds a specific amount.

“Our latest round of enhancements is the direct result of feedback from our clients,” said KyckGlobal Chief Technology Officer Nandu Shah (LinkedIn). “The KyckGlobal development team is obsessed with delivering more than just valuable features. We want to create a platform that feels as if it’s reading both the payer and the payee’s minds when it comes to workflow.”

 

About KyckGlobal, Inc.

KyckGlobal helps businesses streamline outgoing payments with a next-generation cloud-based platform that delivers a robust array of the most popular payment types – all with a single point of reconciliation. The KyckGlobal solution streamlines payments, automates IRS compliance, promotes customer loyalty, and improves employee retention. Founded in 2018 by fintech executives and entrepreneurs, KyckGlobal is headquartered in Atlanta. For more information, visit www.kyckglobal.com and @KyckGlobal.

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