Bill.com, a provider of integrated bill payment, online invoicing and cash management solutions for small- and medium-sized businesses (SMBs) and accounting/bookkeeping firms, today announced a significant product update that brings powerful new document management and accounts receivable features to customers seeking to better manage and control their day-to-day financial operations online, anytime, anywhere, and using any mobile device.
Bill.com is used by tens of thousands of businesses for its breadth of features that streamline accounts payable and accounts receivable processes, helping businesses make smarter payment decisions and get paid faster. Customers are now able to say farewell to historic hassles: the burdensome checkbook, the unruly file cabinet and the age-old promise that “the check’s in the mail.” Now, with its expanded feature set, Bill.com is making it easier for businesses to store and access all the information they need to make more informed financial decisions, simplify collaboration with customers and vendors, invoice customers and get paid.
"Bill.com has streamlined our dues receivables process down to almost no effort at all," said Diana Murray, director of business development at ASAP, a Colorado-based home owners association. “Tracking down and notifying 900 resort-area homeowners about their assessments and reminding them of missed payments was an enormous task, but Bill.com has enabled us to develop an online payment management system that automatically bills far-flung homeowners, keeps track of when they pay their dues, and nudges them when they don't.”
Murray added, “The new features that Bill.com is rolling out will help free up even more time for our staff. We can reduce our fees to our Bill.com customers and use this recovered time to improve other services for our existing customers and attract new clients. The system isn't just helping us do our work; it's actually helping us grow."
“Vendor bill payment and customer invoicing are processes, not transactions. With this major upgrade, we’ve added new tools to help our customers organize and gain control over their day-to-day finances, improve their ability to manage vendors and customers and ultimately pay smarter and get paid faster,” said Jeff Schultz, vice president of sales and marketing at Bill.com. “We are constantly seeking ways to eliminate needless paper-based activities, increase collaboration between payers and payees, and provide anytime/anywhere access to the whole process. We enable greater efficiency for employees inside a business and a more seamless relationship with their vendors, customers and accountants.”
Expansive Cloud Storage Capabilities Support All Types of Financial Documents; No More Paper
Bill.com has expanded its cloud-based storage capabilities beyond bills and vendor documents, enabling users to save time by eliminating unwieldy paper-based processes once and for all. Bill.com allows any financial document to be easily digitized, stored and accessed when making payment decisions, answering vendor questions or providing documentation to customers. Any document ranging from images of bills, employee expense reports, vendor and customer contracts, service level agreements, estimates and any company financial records can now be stored and indexed. Documents can be “attached” to vendors, customers, bills, invoices and any entry in a chart of accounts to help businesses organize and access documents easily no matter where they are or what mobile device they use.
With this product upgrade Bill.com continues to offer unlimited financial document storage as part of its overall monthly service fee.
Streamlined Customer Management with Customer Payment Portal and Shared Documents
Users of Bill.com Receivables can now attach documents such as contracts, estimates and other supporting material to specific customer accounts and easily share them with customers when they send online invoices. Businesses and individuals who are invoiced by Bill.com customers get access to a free branded “payment portal” that gives them access to all past invoices and makes it easy to pay via Bill.com ePayments (ACH), PayPal or credit card. With this new upgrade, Bill.com customers can post documents to their customers’ payment portal or attach them to specific invoices. They can also send and receive notes with their customers, making it easier to support a request for payment or help answer payment-related questions.
Flexible Invoice Creation; Faster Payment
Bill.com users can now seamlessly transfer invoices created in QuickBooks to the Bill.com system, or transfer invoices created in Bill.com to QuickBooks, resulting in enhanced flexibility in how and when a business creates customer invoices. No matter where an invoice is created, once it is in Bill.com users can send it to their customers along with supporting documents, view open and late invoices on a dashboard, send payment reminders, exchange messages with customers, track payment status and manage their cashflow in real time.
Bill.com is offered to the accounting profession exclusively through the Bill.com Accountant Program from CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA). Bill.com is available starting at $19.99/Month (Payables Only) and $24.99/Month (Payables and Receivables) with a 30 day risk free trial.
Bill.com is an on-demand accounts payable and accounts receivable application for CPAs and small and midsized businesses. Bill.com users can receive, route and pay invoices electronically — they never have to touch a paper bill again — resulting in time and cost savings to finance personnel of over 50% versus manual accounts payable and check writing processes. Invoices are emailed, scanned or faxed into the Bill.com service. Digital images of invoices are then routed electronically for approval, ensuring a complete audit trail and eliminating lost or mishandled paper. Bill.com handles check printing and mailing as well as electronic payments, and uses enterprise-class fraud protections that are impractical for small and midsized businesses to implement on their own. Bill.com integrates with popular desktop and on-demand accounting packages, ensuring consistency of financial data and streamlined financial planning, reporting and audit activities. Bill.com has received numerous awards including Bill.com's Zen (Zero Entry) service winning Accounting Today's Best New AP/AR Product for 2011, a 2009 Innovation Award from CPA Technology Advisor, a 4-star rating from PC Magazine, and a 2010 Barlow Monarch Innovation Award for innovation in financial services. Bill.com was recently named to the Red Herring Global 100.