Bill.com

│ Bill.com Overview

With the digitalization of many business processes – from marketing and HR to customer support, payroll, and accounting – many rely on computer systems to streamline daily activities and reduce time spent on tasks that could be automated. 

With the advancement of technology, businesses can quickly automate manual processes, make sales faster, create online channels for their customers, and more. These new technologies help companies stay competitive while reducing costs, improving customer experience, and enhancing employee productivity. 

With a promise to make it simple to connect and do business, Bill.com makes manual transactions paperless – helping companies of all shapes and sizes manage their cash inflows and outflows – with the goal to make financial back office processes much easier to track, monitor, and analyze.

│ Bill.com Pros and Cons

Before we dive deep into what you get with a Bill.com subscription, let’s take a quick look at some of its pros and cons to give you a bird’s eye look of the service and its features. 

Bill.com Pros

User-Friendly Interface

Bill.com’s interface is easy to navigate with a clean and clutter-free user interface, offering a modern look that helps users get the job done in no time. The Bill.com dashboard provides a clear overview of your invoices and payments, making it super easy to keep track of your income and expenses. 

Powerful Reporting and Analytics

The Bill.com dashboard offers powerful reporting and analytics that help you easily monitor and analyze your cash flow and invoice collection process. You can easily create reports and graphs showing the trends in your finances and compare invoices and payments to get a clear view of how your cash flow is changing over time.

Seamless Integrations

Bill.com has the ability to seamlessly integrate its service with some of the most popular accounting software in the market, including QuickBooks, Xero, Oracle NetSuite, Sage Intact, and Microsoft Dynamics. This makes it super easy for small and medium enterprises to keep their financial data in sync between multiple platforms. 

Paperless Workflow

Bill.com offers a paperless workflow that helps your business to stay on top of its finances by eliminating the need to print, sign, and send physical documents. Bills and invoices can be automatically generated with the push of a button to save you time and money.

Bill.com Cons

Limited Report Customization

While Bill.com has a lot of functionality built into its product, the fact that the platform isn’t fully customizable means that you will not be able to tailor the dashboard exactly the way you want it. However, there is still room for improvement with Bill.com, especially when it comes to report customization.

Payment Processing

There are several Bill.com users that experience slow payment processing time. While this is understandable considering that Bill.com is an online billing company, customers would benefit from a faster payment processing time. It will also build trust, especially among smaller businesses that need to have a steady stream of cash flow to stay afloat.

Customer Support

When it comes to running a growing business, nothing can derail your day quicker than having to call a service provider with poor customer support. Unfortunately, this is something many people who use Bill.com have had to deal with in the past. With a little effort, though, Bill.com’s customer service team will go above and beyond to help you out. 

Bulk Transactions

Bill.com provides a great opportunity for small and medium-sized businesses to save money on their recurring transactions, but they only offer limited access to bulk transactions. Although there are manual ways to get around this limitation, it could be more convenient if Bill.com offered more flexibility when it comes to automating and simplifying bulk transactions. 

Synch Error Status

It would be helpful if Bill.com provided a clearer overview of synch errors, as sometimes it can take a while before it becomes clear that there’s a problem. As it stands, many users don’t even know how to navigate this issue. This is quite frustrating when you are trying to figure out what’s causing your transaction to not sync.

Bill.com Advantages	Bill.com Disadvantages
Get a 360-degree view of payments in and out.	Customer support can be lacking at times.
Time-specific audit trails.	Limited customization options.
Simplified approval process.	Synching issues with other accounting software.
Accepts ACH, credit cards, checks, and international bank transfers.	Slow payment processing times.

Try Out Bill.com Now

If you want to streamline your AP and AR processes, Bill.com is a great choice. It offers the flexibility and features you need to automate these processes so you can focus on growing your business.

│ What is Bill.com?

Bill.com is a cloud-based software suite that helps small businesses automate the approval and collection of bills, track their cash flow, and manage customer accounts. The platform is designed to make billing easy for small businesses with a variety of capabilities to help you quickly and easily set up and manage payments. 

You can use Bill.com to send invoices, pay bills, manage accounts payable and receivable, and accept credit card payments and wire transfer payments. Bill.com is also great for small businesses because it gives them access to many tools and resources, including a full-featured invoice management system, check printing services, customizable reports and templates, and a robust CRM system.

The app includes a web-based dashboard that makes it easy to keep track of your entire account, including your bills and invoices, payment status, pending payments, and more. You can get an instant snapshot of the status of all of your active accounts at any time – plus, you’ll have access to a real-time view of your customers’ payment history, their payment terms, and all of your outstanding balances.

Bill.com currently has a client base of over 120,000 users, making it the ideal solution for anyone looking for an end-to-end tool for managing their invoices and payments.

│ How Does Bill.com Work?

Bill.com is an online bill payment and invoice software that allows you to easily manage your invoices and payments. With Bill.com, you can create, schedule, and send invoices; view detailed reports about your accounts receivables and payable statuses; accept payments and payments by check, and send out remittance advice.

It is a robust accounting tool that helps businesses and firms automate and streamline their accounting process, saving time and reducing overhead costs. With the ability to create invoices, send out reminders, track payments and approve or reject payment requests, Bill.com helps you simplify the process of billing and managing payments.

With Bill.com, you can also avoid human errors and increase the accuracy of your invoicing and payment tracking. What’s more, as Bill.com provides you with various financial reporting tools, you can take advantage of its reporting features to make intelligent business decisions. Bill.com also uses artificial intelligence (AI) that keeps a watchful eye on your account activities and alerts you with any error or any problem with your AP/AR status.

Did You Know?
Bill.com’s API allows businesses to process high volumes of payments at once.
With Bill.com, you can avoid invoice duplication – a common occurrence when processing multiple invoices manually.
The AI automatically captures all the relevant data on uploaded invoices, which include but are not limited to vendor name, vendor full address, invoice number, amount, payment terms, PO number, invoice date, due date, etc.
Bill.com also uses machine learning to extract invoice data accurately and reliably.
Bill.com has developed a mobile app (iOS and Android compatible), which allows you to access your invoices and payments anytime, anywhere.

│ Bill.com Features

Bill.com is more than just an automation tool for your business; it’s a comprehensive platform for all types of invoicing and payment processing needs. Here are some of Bill.com’s key features:

Payment Approvals

You can assign yourself or a member of your team to track, approve, and process your payments in real time. You can also maintain separation duties and leave an activity trail to make it easy for you and others to follow.

Accounts Payable Controls

Instead of having to manually go through each invoice to check if it has been paid, you can quickly access your accounts payable information as well as payment terms and contract details from within the Bill.com platform. 

Invoicing

With Bill.com, you can get paid 2x faster, have control over your billing information, and improve customer service. Manage your customers, create and customize your invoices and statements, and send them out with a click of a button.

API

Use Bill.com’s API to automate invoicing, bills payment, and more. Easily integrate Bill.com into other platforms and apps so you can track and pay your bills or receive and manage payments without switching systems. 

Why We Need to Use Bill.com

Get paid faster by tracking your payments and managing your invoices.

Easily track payment history and manage your customer relationships.

Integrate Bill.com with other applications and platforms to automate your workflows.

Automate bill payments and payment reminders.

Keep records of your contracts, vendors, and payment terms in one place.

Try Out Bill.com!

If you are looking for a better way to manage your business accounts and make sure you get paid on time, try out Bill.com today.

│Who Should Use Bill.com?

Bill.com is designed for any size business that wants to stay organized, manage their finances, and automate their workflows. Here are some of the individuals and organizations that will benefit from Bill.com:

SMEs

If you are running a growing business, you know how difficult it is to keep up with all the different expenses and payments that come in. Bill.com helps you to manage your finances with ease by providing an online account management tool. It allows you to track the payments you receive from your customers, vendors, and other parties. 

Accountants and Accounting Firms

Accountants can also take advantage of Bill.com’s features that allow them to easily manage their own bookkeeping and accounting from anywhere. Bill.com has a special plan for accountants and accounting firms – where they can manage all of their business financial transactions, keep up with their clients’ financial details, and generate invoices and statements for their clients.

Hospitality Businesses

Hospitality businesses like hotels, motels, and resorts often require the use of multiple sources for payment. Bill.com allows hospitality businesses to collect payments through ACH, international transfers, and credit cards. By consolidating these payment options, they can stay in control of their business without having to worry about manual processing or multiple systems.

Nonprofits and Charities

Non-profit and charity organizations need to be able to track donations and track expenditures on a monthly basis. Bill.com’s robust online accounting system can help manage their books and financial transactions. The platform is ideal for tracking donations, charitable contributions, and other financial transactions.

Usage
Automate and manage payments for your clients.
Track your AP accurately and efficiently.
Receive payments via ACH, wire transfers, or Credit Cards.
Easily manage your clients’ accounts by importing contracts, invoices, and payments.
Integrate with other systems and online services, such as QuickBooks and Xero.

Use Bill.com to Streamline Your Billing Process

With Bill.com, you can automatically process invoices and create and assign payment reminders to your clients. You can also import receipts into Bill.com and create customized reports to view transaction activity.

│Bill.com Cost & Time

When finding a new platform to streamline your billing processes, you need to think about how much it will cost and how long it will take to implement. With Bill.com, you get a low monthly subscription rate, and you get a fully-featured service that’s ready to roll out today. You can get started with the platform instantly after signing up with your plan. 

On Bill.com’s custom corporate plan, you’ll also get premium customer support, so you can get your questions answered right away. If you are still on the fence about whether Bill.com is for you, you can sign up for a free 30-day trial to get a feel of the service before committing to a plan.

│Bill.com Usability

It’s important to know that there’s a learning curve with Bill.com. The platform is easy to use, but you need to get used to its dashboard, features, and functionality to use the system effectively. The team behind Bill.com can help you understand what’s required, but it’s best to dedicate some time and effort to learn the software before getting started. In the past, a lot of users found Bill.com’s dashboard to be confusing and difficult to use.

The good news is that the recent updates to the software have improved Bill.com’s usability and made it more user-friendly. Once you log in to your account, you’ll be greeted with a modern-looking dashboard that has three major tabs: Overview, Receivables, and Payables. The left navigation bar gives you access to all the main features of the system, which include your Inbox, Documents, Vendor List, Payment In/Out, Customers, Invoices, Reports, and so much more.

│Bill.com Pricing

Bill.com has different pricing plans depending on your business’s specific billing requirement: pay bills and get paid, pay bills only, or get paid only. Here’s a quick overview of Bill.com’s 

Corporate Plan (Pay Bills and Get Paid)

If you need an AP/AR solution that seamlessly integrates with QuickBooks Online, QuickBooks Pro/Premier, and Xero, Bill.com’s corporate plan is perfect for you. With the Corporate Plan, you’ll get to enjoy tons of AP features and functionality, including: a centralized inbox, invoice data capture, 360-degree vendor info, unlimited document storage, ACH, check, credit card, and international wire transfer, custom approval policies, custom approval policies, custom user roles, and so much more. When it comes to AR features, you can expect customized invoice templates, single or recurring invoices, payment status tracking, automated email reminders, ACH and credit card payments, and auto-charge and auto-pay features.

Enterprise Plan (Pay Bills and Get Paid)

For bigger companies that need to bill and receive money for a full range of business expenses, Bill.com’s Enterprise Plan is your answer. This plan offers all of the features and functionality of Bill.com’s Corporate Plan, plus dual control, multi-entity, multi-location accounting file capabilities, API access, and premium phone support. The Enterprise Plan seamlessly integrates with QuickBooks Enterprise, Oracle NetSuite, Sage Intacct, Microsoft Dynamics, and so much more.

Essentials Plan (Pay Bills)

If you’d like to pay vendors and manage bills in one place, Bill.com’s Essentials Plan is right for you. The Essentials Plan comes with the following features and functionality: centralized inbox, invoice data capture, 360-degree vendor info, unlimited document storage, ACH, check, credit card and international wire transfer, standard approval policies, and six standard user roles. 

Team Plan (Pay Bills)

Another great option for small businesses who need to invoice and pay out expenses in one place, Bill.com’s Team Plan seamlessly integrates with QuickBooks Online, QuickBooks Pro/Premier, and Xero. Some of its best features include the following: centralized inbox, invoice data capture, 360-degree vendor info, unlimited document storage, ACH, check, credit card and international wire transfer, standard approval policies, and custom user roles. 

Essentials Plan (Get Paid)

If you’d like to send invoices and get paid by your customers without getting overwhelmed by an array of billing features, this plan is for you. You’ll enjoy the following features and functionality under the Essentials Plan: customized invoice templates, single or recurring invoices, payment status tracking, automated email reminders, ACH and credit card payments, auto-charge, and auto-pay. 

Team Plan (Get Paid)

For bigger teams that need to manage multiple customer payments simultaneously, Bill.com’s Team Plan is the answer. It comes with all of the features under the Essentials Plan, plus the ability to integrate the following apps and services into your workflow: QuickBooks Online, QuickBooks Pro/Premier, and Xero.

Accountant Partner Program

A special plan for accountants, Bill.com’s Accountant Partner Program comes with the following features and functionality: AP/AR processing, accountant console, product training, accountant resource center, one-on-one coaching, and so much more. 

Try Out Bill.com Now

You don’t have to pay a dime to try out Bill.com. You can try out their services risk-free for 30 days. Plus, there are no commitments, and you can cancel at any time.

│Bill.com Tools for Business

Bill.com is perfect for business owners, consultants, and freelancers who bill on a regular basis and want to streamline their billing and accounting processes. Here are some of the best features that Bill.com offers for businesses:

Integrations

Bill.com’s compatibility with some of the top-rated accounting and audit services in the market makes it easy for you to sync your account balances across multiple applications. With these integrations, Bill.com lets you easily track and manage your finances from anywhere.

Centralized Inbox

One location to track payments, invoice information, and all the other things you need to do to stay in the loop with all of your AR and AP transactions – Bill.com’s centralized inbox saves you time by making all of your communications, payments, and receipts accessible from one place.

Invoice Templates

Save time by using customizable templates that can be re-used for various projects and clients. These templates can also be shared among different teams to make sure everyone in your organization is using the same format and keeping your work organized. 

Payment Methods

Bill.com accepts a wide variety of payment methods, including ACH, international payments, major credit card transactions, and network payments. This makes it easy for you to pay and get paid regardless of where you are or how you prefer to send or receive your money.  

Points to Note
Any major U.S. credit or debit card can be used on Bill.com.
You can defer payments and enjoy points, miles, and rewards if you’ll pay vendors with your credit card.
Bill.com accepts international payments from over 130 countries.
Bill.com offers a $0 wire transfer fee, plus highly competitive exchange rates.

│Bill.com Real-World Users

More than 120,000 users trust Bill.com to help manage their billings and invoices. From small, local businesses to international brands and multinational corporations, Bill.com has built a trusted reputation for providing customers with the most robust online billing experience. Here are some of the companies that use Bill.com. 

Massachusetts Horticultural Society 

The Massachusetts Horticultural Society (MHS) is an organization that is dedicated to promoting horticulture and the art of gardening. Using Bill.com, the MHS was able to save one day a week when completing AP transactions, reduce monthly closing to only a few days’ work, and empower its employees to make purchasing decisions faster.

Galileo Learning

Galileo Learning was founded in 2002 to provide high-quality distance learning opportunities for kids of all ages. With Bill.com, Galileo Learning was able to save 50% of time on AP tasks, streamline their approval, audit, and documentation processes, sync between Bill.com and Sage Intacct to expedite their AP transactions.

The Life Link

The Life Link aims to support and educate those who are experiencing difficulties in life through a variety of programs and services. With the help of Bill.com, they were able to shorten their monthly closing from 10 days to 1 day, reduce approval time from 1.5 hours to minutes, and free up time to work on other humanitarian projects.

│Bill.com Support

In the past, Bill.com had a not-so-stellar reputation when it came to customer support. But things have now changed. They have listened to their clients’ sentiments and implemented several changes to improve their customer experience. 

Today, Bill.com offers live support from 5AM to 6PM PT, Monday – Friday, so you can get the answers to your questions right away. With priority phone support, Enterprise Plan users can get instant access to a support staff who can provide assistance with the technical problems that they might encounter. 

You’ll also be pleased to know that Bill.com has a wide range of learning materials and self-help guides that are available for its customers. It has a library that can offer them information about various topics, from the basics of Bill.com to troubleshooting common problems. You’ll find the guides easy to follow, and the tutorials are very detailed. 

│Conclusion

When you are looking for an invoicing and billing platform, it is important that you choose one that is easy to use, user-friendly, and comprehensive. Bill.com offers all these things in its software, which makes it one of the best options in the industry. 

Whether you are looking to set up your own invoicing and billing platform or you are simply looking for a simple tool that you can use to streamline your AR and AP transactions, Bill.com is definitely worth checking out.

Furthermore, Bill.com’s monthly subscription plans are on par with other similar service providers in the market, so you can rest assured that the service you’re getting is reliable and well worth the money. Its free, 30-day, no-risk trial offer is also a good way to test the system before you commit to its services. This will help you to see if Bill.com is the right choice for your business.

Try Bill.com Now

Automate your AP and AR processes today with Bill.com – a robust invoicing and billing software solution for any size business. Try Bill.com today.