Bill paying falls into that category of things that nobody really likes to do, but everyone has to do. Whether your company is a larger small business or a solo shop, it’s smart to implement systems that maximize productivity.
A new service called Bill.com automates accounts payable for small businesses. It’s a SaaS solution that manages bill authorization, payment and tracking online. You (or your vendors) email or fax an invoice into the Bill.com system, and it is routed electronically to the appropriate person for approval. Bill.com pays the invoice and keeps a copy of the transaction and supporting documents. The service doesn’t replace your existing accounting system, but is compatible with software like Quickbooks, so all of your transactions can be exported to your accounting system without manual data entry.
From the CEO, Rene Lacerte, on the company website:
Bill.com’s focus today is on the burdensome accounts payables process for business from 1 to 500 employees. Our solution makes it simple to manage and store your bills online, route your bills to others in your company for approval or questions, and to pay your bills with a mouse click. No more digging through piles looking for bills, no more lost invoices, no more wondering what the status of the bill is, and no more worrying about how to maximize your cash flow by paying at the last possible date.
In the future users will be able to accept incoming payments as well.
The service starts at $24.99/month for the first user, with lower monthly fees for additional users. Bill payments cost 99 cents each, with 10 free payments per month included. The company offers a free 30-day trial.
Laura Leites, Assistant Editor, Smallbiztechnology.com