In love with bill.com
Updated August 19, 2015
In love with bill.com
Score 10 out of 10
Overall Satisfaction with Bill.com
My company offers outsourced accounting services. Bill.com is one of the technology solutions in our bundled service package. The main problem it addresses is managing Accounts Payable for our clients. We are no longer shuffling paper; no checks to print, no envelopes to stuff, no stamps to adhere, and no paper to file. It's a dream!
- As mentioned previously, it's a paperless solution. That alone is a huge selling point!
- My clients can have multi-level approval processes in place, should that be important to them. (such as department supervisor first, and CEO as the second approver)
- Vendor payments can be set up ahead of time, so that you will never have another late payment again.
- Each client has a dedicated fax number and a dedicated email for their bill.com account, making it easy to put A/P processes in place for clients and vendors alike.
- On the A/R side, invoicing customers and being paid electronically is fantastic! I personally use bill.com to automatically invoice my clients each month; and I'm automatically paid as well.
- Accounts Receivable is good, but not great. The biggest problem for clients is attempting to manage A/R from the bill.com portal when their staff does not have access to the accounting software. In QB, jobs are added as sub-names to Customers for easy management of multiple projects. In bill.com those jobs are synced (and appear to be) separate Customers, not jobs associated with Customers.
- I'm not a fan of the reports in bill.com, but I don't personally see that as an issue because I can run reports in the accounting software.
- Increased efficiency
- Streamlined processes
- Easy collaboration
I have not used or evaluated any competitors; however, I have used several banks' bill-pay function which I find to be wholly inefficient and time-consuming.
Bill.com is well suited for a business that pays many vendors. It is not well suited for a business that processes 15 or less vendor payments per month; however, using the A/R side to invoice clients and get paid electronically can more than make up for that shortfall.
Aside from what I've already mentioned, they are continually improving the product and bill.com has a fabulous team!