Bill.com addresses the needs of the entire business bill payment process. To us, while important, payments are only one small piece of the overall process. We've built our whole service around businesses and we understand what you need.
- We know that business bill payment involves more than one person, typically, at a minimum, the business owner and the accountant. In many companies, there is broad participation in the purchase, approval, payment and budgeting processes. Bill.com is designed to streamline the approval process beyond those people in a business who have access to the actual bank account.
- Business bill payment involves a lot of paper. Bill.com allows users to look at contracts, past invoices (to see if there are duplicates), and to review when the last payment cleared, all online. Bill.com provides a central repository to digitally store all of this paper. Related documents are linked together, making it easy for you to quickly get the information you need.
- Bill.com was designed to handle a high level of transactions, and makes it easy to manage and transact with a large group of vendors. We understand there are regular bills every month, which recur, and a large number which are short-term or one-time billings. Bill.com doesn't lock you in to a rigid, predictable model and instead allows you to change the bills and vendors and amounts you pay over time. We leave you in control of this process.
- You can set up large and small vendors, as well as employees and other individuals, to receive ePayments rather than paper checks from Bill.com. Select from a directory of over 4000 vendors in our database or securely add bank account and routing information to any vendor profile.
- Businesses often need to access their payment history to understand what happened and when. Bill.com offers a complete audit trail of bill and payment approvals and activities.
- We synchronize vendors, customers, chart of accounts, items, departments, payables, payments, receivables, payments received and funds transfer with your accounting software, including support for complex account splits. Your bank will only sync cleared transactions and require you to manually update your accounting system with all other accounting information, but with Bill.com, you eliminate the error and hassle associated with double entry of your transactions.
- Bill.com not only handles your payables with ease and accuracy, we also allow you to invoice your customers, so you get paid faster and more reliably than ever before. You can even forecast and manage your cash flow in Bill.com. We are the only service that offers this combination of financial capabilities to your business.
- We know your financial needs require you to be able to diversify your cash. We allow you to add bank accounts from any banks with whom you do business, and don't lock you in to only one account at one financial institution.
We also provide enterprise level banking services, all at no additional cost:
- Fraud protection against check manipulation (positive pay)
- Unlimited retention of cleared check images online
- Easy access to payment evidence (cleared check images attached to approved bills) as required for an audit
- Mistake recovery -- payment voids, reissues and stop payments