Bill.com today announced new product enhancements that make it incredibly easy for businesses and accounting firms to pay bills, receive payments and manage cashflow online.
With the rollout, Bill.com is bringing online invoicing and bill payment 360-degrees by making digital money transfer between payers and payees effortless while simultaneously eliminating the need for paper-based financial systems, tedious data entry and reliance on the US Postal Service.
New eBill Functionality Makes the Move to Online Invoicing and Bill Payment Seamless
With Bill.com's new eBill functionality, when both payer and payee are utilizing the Bill.com platform, sending electronic invoices and making online payments is a snap. eInvoices can be generated by the issuing party using Bill.com or their preferred accounting software, and they instantly convert into eBills - along with any supporting data or attachments required - in the payer's system, ready for review, acceptance, approvals and payment.
Once the ePayment is issued, it is automatically applied to the payee's eInvoice and to the payer's eBill with no manual work required. Even better, the entire process syncs with leading accounting packages such as QuickBooks, Peachtree, Netsuite and Intacct, even if the payer and payee are on different systems, ensuring all transactions are properly documented while eliminating tedious data entry entirely for both parties.
"To date, eBilling and eInvoicing solutions have been complex and only available to Fortune 2000 companies," said Rene Lacerte, founder and CEO of Bill.com. "As businesses of all sizes seek to gain efficiency in their financial processes, we aimed to provide a product that meets the needs of businesses where they are today and makes the transition to online bill payment and management a seamless one. Bill.com is providing a way for our customers to help their vendors participate with a low learning curve and a free portal to ease the friction of adoption."
"eBill cuts out the extra step of turning an invoice into a PDF and guarantees invoices are created correctly and delivered instantly," said Chris Fenster of Propeller Industries. "Our vendors are finding it enables them to pay more efficiently, eliminate errors and reduce the time spent scanning and handling documents. It's all automatic, so we're getting paid faster than ever before."