Bill.com Releases New Fast Pay System for AR, Cash Flow Management

Bill.com has released its new Fast Pay service, which enables small businesses to pay and get paid faster, allowing precise cash flow management. Traditionally, checks and other payments take anywhere from four to ten days to be processed and delivered. This can feel like a lifetime for some businesses. Now, with Fast Pay, customers can expedite payments when businesses need to maintain tight cash flow or make emergency payments, keeping business operations running smoothly without a break in workflow.  

According to the U.S. Small Business Administration (SBA), two-thirds of new businesses will collapse after two years. This figure indicates that cash flow is the lifeblood of any small business. It’s paying and getting paid quickly that helps keep businesses running smoothly. Yet, digital payment adoption for businesses remains painstakingly slow. Bill.com is changing that by offering SMB owners an automated way to pay and get paid electronically anytime, anywhere.

“Our customers have told us they need a simple and secure solution for those times when they need to pay their vendors quickly,” said René Lacerte, CEO of Bill.com. “Fast Pay was developed in response to those unplanned or emergency situations. Now, SMBs in particular can rely on a seamless digital solution without the hassle of going to the bank to send wire transfers or scheduling pickups by FedEx or UPS.”