Bill.com streamlines bill payment
June 27, 2014
Bill.com streamlines bill payment
Score 10 out of 10
Overall Satisfaction with Bill.com
I own a small accounting firm and we serve companies in a broad range of industries with revenues typically less than $5million. I especially like bill.com for its ability to streamline payables and assist companies with cash flow management. It is also an effective tool allowing companies to seamlessly collaborate with an outside accounting firm.
- Bill payment is clearly bill.com's strong suit. Getting bills into bill.com and paid is quite seamless. Scan, submit, code, schedule. done.
- Integration with Quickbooks is seamless. Clearing errors is typically easy. There is no rekeying information into Quickbooks. It quite literally is integration with the click of a button. I am working on integration with Xero and am finding the integration to require a bit more work.
- Simplifying the bill payment process. Moving through a batch of invoices to pay in Quickbooks is quite simple, and it is a great paperless data retention tool. Once the image is scanned and coded, you can route it for approval electronically, schedule for payment and then Bill.com issues the payment. If you need to access the bill later, you can find the document easily and even see the front and back of the cancelled check all in one place.
- While I think the cost of a traditional paper process is higher, I do think Bill.com is a bit pricey. You need to have at least 15-20 checks or more to enter per month to have a cost savings.
- Integration with Xero requires a third party. Would be better if the connection was direct with Xero.
- It seems like for debit/credit card transactions there would be an easier/quicker way to get the documents processed in Bill.com so Bill.com can act as a central data storage location. There should be one go to location for all payments issued by a company.
- Bill.com allows me to improve service levels while performing monthly accounting in a more streamlined manner. I would not offer bill payment as a service to my client if I couldn't use Bill.com
- Satisfied users of Bill.com have referred me to new business.
I am not aware of a comparable service.
As long as I have big enough clients (meaning 20 bill payments or more per month) I will continue to market use of bill.com
It is not good for clients who don't have any cash because it slows down efficiency, however, because of the visibility to outstanding bills given by bill.com, it does possess the ability to help clients improve cash flow.
2 - Both myself and my bookkeeper use Bill.com to process payables.
2 - Basic bookkeeping skills and decent computer skills are all it takes. A working knowledge of Quickbooks is also important.
- Bill payments.
- Document Storage.
- Customer Invoicing.
- Document storage for more than just bills.
- Collecting customer payments on invoices electronically. (Sending and receiving payment electronically)
- Setting up recurring bills such as rent to be paid automatically through Bill.com
- Invoicing customers
Everytime I have called or used bill.com's chat service the staff are always well spoken and have solid knowledge of the product.
Problems get solved
Kept well informed
No escalation required
Immediate help available
Support understands my problem
Support cares about my success
Quick Initial Response
When I opened a new account with Bill.com I received several calls from customer service to make sure implementation was going well.