How they describe themselves: Bill.com is the first SaaS financial management service
designed specifically for small and medium sized businesses and their financial advisors to help them manage their cash flow more efficiently and effectively. By eliminating manual, paper-based processes Bill.com is saving businesses over 50% of the time and cost of managing financials.
Bill.com streamlines payables and receivables and provides access to financial documents anytime, anywhere. It includes a simple way to digitize incoming bills and send electronic invoices, synchronize payables and receivables with accounting packages, automate multi-user approval workflow with role-based controls, and pay or get paid via check or ePayment.
What they think makes them better: B2B bill payment represents over $14B in annual
payments, yet unlike consumer banking where over 70% of payments are now done online, over 70% of B2B payments are still done by printing, signing, and mailing checks. Until now, solutions were either too accounting-focused (requiring manual, paper-based processes to supplement the software) or payment-focused (requiring duplicate processes and data entry).
Bill.com is unique in its ability to bridge the gap between accounting and banking worlds with a streamlined, simple, low-cost process that matches how small and medium sized businesses actually work.