BILL is an online service for SMBs which provides a central dashboard for managing Accounts Receivable, Accounts Payable, and cash flow management. It syncs with all major accounting systems like QuickBooks, Sage, Intaact, and NetSuite.
$45
per month
Ramp
Score 9.2 out of 10
N/A
Ramp is a corporate card and spend management solution that helps companies of all sizes to accelerate growth without compromising on their finances. Boasting best in class user experience and a direct integration with the user's accounting solutions, the vendor states Ramp helps finance teams save 1-2 days a week tracking expenses, following up with employees, and closing their books. With Ramp, companies have real time visibility into spending, automated expense reporting, and advanced…
Ramp has a much better UI and easier workflow compared to Ramp. I was able to ramp up with Ramp in less than a month and become very proficient within 3.
Users have noted that BILL is predominantly utilized in managing accounts payable across various organizational settings, including small businesses and non-profits. It streamlines the processing of bills and invoices, promotes paperless transactions, and integrates smoothly with major accounting software like QuickBooks and NetSuite. This broad utility makes BILL well-suited for companies seeking efficient workflow in payment operations and visibility across financial documents, ensuring that all payments are approved and processed promptly.
Ramp, on the other hand, is recognized for its comprehensive financial management capabilities, with a strong emphasis on controlling and optimizing spending rather than just managing transactions. Users appreciate Ramp for its real-time reporting features, which offer insights into spending patterns and help enforce company policies. This system is geared towards businesses that are not only looking to automate payment processes but also aiming to gain deeper financial insights and achieve cost savings through spend control and analysis.
While both products serve the financial operations of organizations, BILL is a tool focused on enhancing accounts payable processes, particularly suitable for businesses in need of streamlined and automated payment solutions. Ramp extends beyond automation in payments to include spend management, offering a broader suite of financial controls and reporting tools that cater to organizations looking to optimize their overall financial health.
Features
BILL
Ramp
Payment Management
Comparison of Payment Management features of Product A and Product B
BILL
6.1
6 Ratings
14% below category average
Ramp
-
Ratings
Customizable Approval Policies
7.34 Ratings
00 Ratings
Financial Document Management
5.86 Ratings
00 Ratings
Payment Status Tracking
5.56 Ratings
00 Ratings
Payment Audit Trail
6.56 Ratings
00 Ratings
Duplicate Bill Detection
9.24 Ratings
00 Ratings
Advanced OCR
4.32 Ratings
00 Ratings
Electronic Funds Transfer
4.45 Ratings
00 Ratings
Accounts Payable
Comparison of Accounts Payable features of Product A and Product B
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.
Ramp is great if you want to automate your expenses process. Ramp immediately responds when I (or someone on my behalf) make(s) purchase and I can easily pass receipts and notes live. No more searching for "stuff"!! I spend more time on my job and not worrying about chasing things down or forgetting what was purchased. I charge, I send notes, and I'm done. It's so easy!!! It's incredibly helpful to be able to instantly spin up a virtual card for employees on the go or who have planned expenses. It gets you away from a delayed reimbursement to remote employees and having expenses coded by the employees shortly after they make their purchases.
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).
The system does not allow you to sort on all columns in some of the areas (not consistent from one screen to another).
When bills are entered in as a Bill Pay, the expense doesn't show up in a csv file until it is paid but it needs to be expensed in the system as the date of the Invoice.
If a vendor is paid through a credit card transaction as well as Bill Pay, you have to look at two different places in the system to see the details.
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.
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)
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.
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.
top solution out there to simplify accounting and finance tracking. Only negative note: they started charging for every single client ACH payment done through Quickbooks. Originally this feature was free, but then it grew to up to $10 per transaction. Reason for which we had to look into alternate solutions
We moved to Ramp from Expensify at our accountant's advice. We went with her advice due to ease of use, ease of Quickbooks sync, ability to send reminders with one click, and more. We are very happy with the decision to switch to Ramp.
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."
The actual dollar savings is difficult to determine at this point. We'll have a better idea the ROI at the end of the year. Previously, we received 1% back on all purchases with our corporate card. We receive 1.5% with Ramp, pay per number of cards annually (for Ramp Plus) to auto-lock cards and for additional features.
Time savings for admin and employees has been significant due to ease of use.
