Bill.com, a leading provider of AI-enabled cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses, today announced a new set of offerings designed to help midmarket companies better automate their AP/AR functions and achieve greater operational efficiencies.
The new capabilities for the midmarket include support for a centralized, PO-to-payment workflow; advanced customer support; expanded coverage for cross-border payments; a VIP program for International Payments customers with competitive exchange rates; and increased collaboration with partners including Oracle NetSuite, Sage Intacct, and dozens of value-added resellers.
Building on its prior success of helping businesses transform back-office financial operations, Bill.com has seen strong adoption in the midmarket as it frees these organizations from antiquated financial processes, helping them streamline the transaction lifecycle and grow their business.
“As companies scale, the advantages of AP and AR automation are magnified. Midsized companies can be in dire need of next-generation, end-to-end back office solutions that help them work smarter, faster and more efficiently,” said René Lacerte, CEO at Bill.com. “Today, we’re introducing critical, new capabilities for midsized companies, including PO matching, expanded international payments and partnerships. These new offerings will provide insights for customers to act on and enable them to automate their AP/AR processes, thus saving significant time and money while greatly improving productivity.”
Here is a closer look at the midmarket capabilities offered by Bill.com:
• Bill.com Purchase Orders: This new platform innovation for midsized companies syncs POs directly from Oracle NetSuite and Sage Intacct into the Bill.com platform. Users can compare POs and invoices on one screen, then route bills for approval and payment seamlessly in the same workflow. This eliminates the need to switch between systems for two-way matching and reduces the back-and-forth communication between PO creators and AP managers. Bill.com Purchase Orders is a more efficient and less error-prone way for finance teams to manage their end to end PO-to-payment workflow.
• Expanded International Payments: This capability increases coverage for cross-border payments and now encompasses more than 130 countries and 106 currencies. It also includes a new VIP program for qualified midmarket companies that conduct high-volume transactions. Qualified customers receive personalized services for account set up, complimentary exchange rate analysis, and access to special rates.
• Intelligent Virtual Assistant (IVA): Bill.com AI capabilities make it easy to set up payments, helping midmarket customers avoid costly first-time mistakes. Users just click on invoice details and then IVA copies the appropriate information directly into the required payment fields for the customer’s review.
• Premium Customer Support: This option includes enhanced support service level options, along with newly introduced training and education services, to optimize workflows and help customers get the most out of Bill.com. Customers can receive fast-track access to chat, email or phone support for prompt personalized assistance as well as advanced training for customizations and continuous on-boarding assistance for new employees.
"With its AI-enabled technology, Bill.com intelligently automates and streamlines our end-to-end financial processes so we can focus on more significant, value-added work. From accounts payable with approval queues to cloud-based access to our files for audits, Bill.com has helped us scale through our rapid growth. We look forward to new features designed for companies like ours, including the support of Purchase Orders," says Jade Lee, Director of Corporate Accounting at HashiCorp, a leader in multi-cloud infrastructure automation software.
Bill.com will share more details about these new midmarket offerings at upcoming events, including Sage Intacct Advantage, October 21-25, 2019 in Las Vegas, Nevada. Bill.com is a Platinum Sponsor of Advantage 2019 and will lead a session at the conference, titled “Reimagine Your Tech Stack: Automated AP Workflows for Mid-Size Companies,” on Wednesday, October 23, 2019.
Purchase Order sync for both Oracle NetSuite and Sage Intacct will be available by the end of 2019.