BILL vs. Invoiced vs. Stripe Billing

It depends, Bill.com certainly has a strong reputation and I agree it can be a great solution in the right scenario but I think the implementation and initial setup are critical and need to be well thought out based on the setup of the organization you are a part of.

Incentivized

A 1-10 employee company with no accounting system integration needs and no customization may be suited for Invoiced. Although I wish I could, I cannot in good faith recommend any other scenario for which Invoiced is the right solution. Perhaps a subscription service that is very streamlined on autopay could work as well, but I cannot speak to that scenario directly. I do not think Invoiced can be trusted to integrate with accounting software, certainly not NetSuite, given the aforementioned reasons. There is a very high risk of system failures, connection breaks, improper code built into the core bundles, and they will blame the company for anything that is not totally standard operations. In summary, if your business does anything unique at all from a transaction lens, I would be very careful as Invoiced may promise to handle it in a Sales pitch, and then 9 months later it could still be unsolved. All the while, they are charging you even if the product is not launched, and they also will not let you terminate, because Invoiced will deny a "breach" even in the face of a directly observable example just to ride out the contract and keep all the money.

Incentivized

If you have a small to medium sized business Stripe is most likely the perfect solution for you. It will automate almost all of your billing, freeing up your time to be used elsewhere. If you have a large business I would recommend getting in touch with the Stripe customer support team first to ensure it will be a good fit for you.

Incentivized

• The fact that bill.com automatically processes most information on the invoice is really helpful - leads to quicker processing
• The "to do list" feature ensures you see the tasks that need to be completed ASAP
• The reports section is very helpful in year end prepping for audits

Incentivized

• Easy to use interface
• Quickbooks integration
• Lots of data reporting options

Incentivized

• Stripe attempts to bill clients multiple times, so if the initial attempt to collect payment fails, they keep trying. Often payment is collected on the 2nd or 3rd try. This ability to re-try billing attempts with the same user on a monthly basis increases the overall amount we collect in payments.
• It is easy to search for customers using Stripe- type in the first few letters of the subscriber's name and they immediately appear. It's a simple feature, but very useful when fielding customer service calls.
• Stripe does make it easy to create new coupon codes or issue partial or total refunds.

• Currently, our company uses a different platform to submit expenses, we only use bill.com to receive them. So perhaps this isn't actually a place where bill.com could improve, but the expense submission process may not have been robust enough for our company.
• The bill.com platform wasn't the most beautiful or pleasing to use, but this is a minor fault.
• I'd love a way to set up recurring payments (e.g., my phone bill is reimbursed each month).

Incentivized

• Communication is the #1 failure - the Invoiced contract Term starts PRE-launch on day 1, yet Invoiced had an extremely slow and encumbered way of onboarding and trying to set us up.
• Core Product: In our testing, their core product broke numerous times, and if this were in a live scenario we would have been devastated. Be very careful as they don't take ownership for maintaining their integrations with all software, and things can break at any moment with updates
• Systems: Invoiced rolled out updates that contained faulty code and damaged our accounting system. The lack of expertise, at least in NetSuite, is very dangerous and I recommend having in-house develops watch Invoiced's moves very carefully if you do end up trying to use them.
• Lack of Ownership: We tried to terminate multiple times, only be to requested over and over that they can fix the problems. We gave them more time since we were so heavily invested from a time perspective, but they did not own the failures and we were even lied to directly by senior management in a remarkable failure to adhere to basic deadlines.

Incentivized

• Dashboard gives too much info for dept. use, may vary for others.
• Be able to export multiple invoices as a PDF at once.
• Getting to the invoices can be tricky if you have to click on multiple links.

Incentivized

While our firm does not use Bill.com internally, we know many customers that use Bill.com and are very happy with it. Based on the feedback from current users, I would say that the product should have a strong renewal forecast. Once customers move their AP to the cloud, they would be unlikely to move it back given a choice.

Bill.com continues to raise the bar with new features and improved interface. The Fast Pay option is another innovation that reduces administrative time when you have to get an overnight check out. The new Chat Support interface, powered by Zopim, which is world-class, adds to the responsiveness of Bill.com's support team and makes getting real-time answers that much easier.

Incentivized

The only time Bill.com was ever "unavailable" was then the Sync to Quickbooks function failed. That happened a time or two but was usually quickly remedied. I'm not sure if that's an issue with newer online versions of Quickbooks Enterprise -- at the time we were using a remotely hosted Quickbooks instance accessed via terminal server (vs a cloud offering like Bill.com is)

Load times can be slow after long use.

Incentivized

I could not explain to them how I was trying to remove an old email account from my company page while granting the new email account access to the bank account that the first email account had added. The "set a bank account as inactive" button is labeled delete, but they don't seem to recognize that. I requested my Bill.com account be deleted on Wednesday so I could start all over with a fresh account; this seemed to be completed Wednesday night, but when I tried to create a new Bill.com account from the same email, it took me to my old bill.com account.

Incentivized

I have had no problems with Stripe support, they are prompt and it does not crash like other platforms or software. They are also great about notifying if maintenance is needed. Since the interface is so easy to use, I haven’t had to contact support that much, versus other platforms, it can be hard to be aware of certain features.

Incentivized

The online training provided by Bill.com is concise and since the firm consistently improves the platform functionality, users are able to select the training for the modules they specifically need.

Incentivized

I heard from my leadership that it went very well.

Incentivized

1. Automation & Workflow Efficiency.2. Integration Capabilities with other softwaresWe needed a centralized, automated, and scalable solution for managing both payables and receivables. The strong integration with our existing accounting software was a key factor.The platform gave us better visibility and control over cash flow and approval processes.

We selected Invoiced primarily due to their purported high level of customizations and flexibility to handle differing business needs. That, unfortunately, became the exact reason we terminated the contract though. They have a basic framework for something that could be really great, and the potential is there, but they lack the in-house expertise and the product is far too infantile at present. Major bugs and similar issues need to be stamped out first. I can only hope they take it as a learning experience.

Incentivized

Our previous product was Cloudnet360, which provides an integrated shopping cart and CRM. With Cloudnet, our customers had to leave our site and go to an outside checkout page in order to purchase. In addition, Stripe provides a robust API which allows us to automate more of the work of maintaining a subscription service.

Incentivized

None, all good.

Incentivized

We have multiple locations, and everything works fine.

Incentivized

• After receiving an offer to 'finance' outstanding invoices, I was enticed by the promise of a 3% total cost for a 60-day period, with the possibility of extending the financing for an additional 10 months (for an additional fee). Eager to access funds, I decided to finance an invoice worth $17,160.00. Within 24 hours, BILL deposited $16,645.20 (97% of the invoice amount) into my account.
• However, when the customer paid their $17,160 invoice four days later, instead of the funds being deposited into my checking account as I expected, BILL chose to retire the loan and retain my $514.80 fee for the 4 day advance period. This unexpected turn of events resulted in an effective interest rate of a staggering 273.75%. It was clear that this arrangement was far from what I had initially understood, and the financial impact was outrageously high.
• Frustratingly, my attempts to resolve this issue through customer service were in vain, as I spoke with three agents who provided no satisfactory solutions. To anyone contemplating using BILL's services, I strongly urge you to carefully scrutinize the fine print and consider opting for a more reputable finance company."

• Allows us to easily track our ARs
• Allows us to keep track of past due ARs
• Automates our invoicing/matching with Quickbooks

Incentivized

• By managing our e-commerce, Stripe makes it easy to have a subscription business, so it automates the whole thing.
• ROI would be much higher with better analytics -- having to create reports and segment customers manually is a pain and definitely eats into the ROI of the product
• I would also like to see more AI applied to the reporting and data for better insights

Incentivized