Bill.com is the best tool for accounts payable
July 18, 2019
Bill.com is the best tool for accounts payable
Score 9 out of 10
Vetted Review
Verified User
Software Version
Corporate
Overall Satisfaction with Bill.com
We use Bill.com to process all invoices/payables for the company, especially invoices associated with a specific job or project, so that every invoice is approved by multiple team members and that the payment process is simple and fast for our CFO. We process hundreds of invoices every month, often with new vendors, and the approval and payment process is so smooth with Bill.com.
- Approval workflow is perfect for ensuring everyone who needs to approve a bill does.
- Syncs with our financial software so that all jobs, accounts, bills, and payments sync (no double entry).
- The payment process is simple and gives us the ability to mark Paid, Print Check, e-Payment, or Send ACH. We also feel very secure knowing the security measures Bill.com implements.
- The invoicing portal (inbox) allows us to email all incoming invoices. The system reads much of the data for us, saving time.
- The only issue we have is that Bill.com does not sync purchase orders from our financial software, so we cannot easily match an invoice (often a progress payment) to the purchase order. We have to use a PO clearing account in our software which simply adds some data entry. If they had this integration, the software would be perfect.
- The only other feature I would like to see improved is their reporting (though this has greatly improved over the past few months). They have added more filtering and reporting features.
- The biggest return on investment is labor hours. We do not have to pay as much to manage so many vendors and bills. Also, it saves a lot of time (and headaches) for our CFO to approve and pay lots of bills.
- The approval workflow also saves us money because we are careful to only pay those invoices approved by the field superintendent and the project manager.
- And, since we are not writing checks out of our checking account, it is more secure for us .
We tried Concur Invoice and it was not user-friendly at all. It was cumbersome, did not sync well with our system, was confusing for our field team to approve, and did not offer payment methods. We were so frustrated, and when we found Bill.com we were so elated. Bill.com solved so many problems for us that Concur could not.