Bill.com Adds Document Management and Accounts Receivable Features

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.