Sunday, October 27, 2013 - 10:39

By René Lacerte, Founder and CEO, Bill.com

Rene Lacerte of Bill.com

Today our award-winning Bill.com Banking Platform got even better. We’ve listened to feedback from both banks and the SMBs they are trying to serve better, and we’ve fine-tuned our platform to better serve their needs. The latest version of the Bill.com Banking Platform includes full integration with our recently announced App Center and new features such as bank-customizable notifications and approvals.

In its first 30 days, the Bill.com App Center has already been embraced by SMBs looking to simplify their overall workflow by integrating the Bill.com cash flow management process with key business applications such as expense management.  Now, with the next generation of the Bill.com Banking Platform, banks will be able to integrate these same powerful features into their offerings, giving them more ways to add value to their customers’ business. We know their customers will be pleased.

Our banking platform also has some new features like configurable notifications and approvals. Configurable notifications enable bank partners to brand and tailor all communications with their clients, allowing for a more seamless client experience. In addition, with configurable approvals, banks can control the approval parameters on an account-by-account basis, giving them far more flexibility. Banks are also able to use these features within their own system if they have already built a custom online experience, meaning they can get all the advantages of the new Bill.com Banking Platform while still reaping benefits from the work they have already done.

Bill.com has grown into the fastest-growing business payments network in the nation because we have made it simple for our customers to pay and get paid effectively and efficiently. With today’s new platform, we have continued to demonstrate our commitment to harnessing the power of the cloud to bring banks ways to help their customers thrive and, in doing so, help the banks themselves build new revenue streams while increasing customer loyalty. We look forward to the great experiences banks will build—and their customers will enjoy—with our latest platform.

Read more about the platform in our recent Press Release.

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Monday, October 21, 2013 - 09:38

By René Lacerte, Founder & CEO, Bill.com

It’s been just over a month since we launched the Bill.com App Center, and we are pleased to see that it is already capturing the hearts and minds of our always growing community. The Bill.com App Center is designed to solve financial professionals’ most common business needs, streamlining workflow by bringing together key tools, such as expense management, online mail management, and accounting systems with their backoffice through Bill.com.

For example, by combining Tallie and Bill.com, finance professionals are able to finally combine bill payment and expense report automation, two functions essential to sound financial management, which have historically not been integrated. Our customers told us how difficult expense management was for them prior to our App Center. And now I am happy to report that we are hearing how easy it has become thanks to the App Center.

Catching Clouds, which offers virtual accounting departments for small businesses lives by the Bill.com “No Check CEO” philosophy as well as any company can. Just consider their tagline: “We combine expert accounting skills, tools, and advice to help you manage your finances and allow you to run your business from any beach in the world.”

Great stuff and very true—except for the expense management part of the puzzle, which required a lot of inputting and tracking of data from multiple sources. But now, as users of the Tallie/Bill.com integration, Catching Clouds has seen a much improved workflow. In fact, Scott Scharf, co-founder, virtual CIO and virtual CTO of Catching Clouds, said that by using the Tallie/Bill.com solution data now goes to the right place in less time and with much better accuracy.

“Bill.com and Tallie are giving us the tools we need to have visibility into the overall process with more levels of approvals—and therefore checks and balances—than ever before possible,” Scott recently said in a video interview. “We are able to let our clients scale their businesses more easily, with no details bogging them down. And we are able to scale our own business more quickly because we can support more clients with less staff and still provide more value than ever before.”

Happy customers with happy clients. Scale that is effective and efficient. These are exactly the things we had in mind when we built the App Center. It is great to see in the first 30 days the App Center living up to its promise. We look forward to bringing more integrations—and innovations—in the coming months. So, as always, stay tuned.

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Tuesday, October 15, 2013 - 12:36

Innovative New Banking Platform Receives Top Honor in the Cloud Computing/SaaS Innovations Category

Bill.com, the leader in integrated bill payment, invoicing and cash flow management solutions for businesses, announced that its Bill.com Banking Platform won gold at the 5th annual Golden Bridge Awards.

The annual Golden Bridge Awards program encompasses the world’s best in organizational performance, innovations, products and services, executives and management teams, women in business and the professions, innovations, case studies, product management, public relations and marketing campaigns, and customer satisfaction programs from every major industry in the world. More than 40 judges from a broad spectrum of industry voices from around the world participated and their average scores determined the 2013 Golden Bridge Business Awards winners.

Read the full release.

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Thursday, September 26, 2013 - 23:21

By Lisa Lang, Senior Vice President, Bill.com

Bill.com

Fraud is big business for those who prey on small companies and accounting firms. Is your company one of the many with no protection measures in place? Data from a recent report by the Association of Certified Fraud Examiners is mind boggling:

  • A typical organization loses 5% of its annual revenue to fraud
  • Small organizations are disproportionately victimized
  • Frauds last a median of 18 months before detection

Another survey shows that payment fraud is rampant in businesses of all sizes.

  • 63% of businesses with less than $1B in revenue experienced payment fraud
  • 91% of those reporting fraud experienced check fraud

A growing number of organizations are finding that they don’t have to become a statistic and that moving their finances to the cloud makes fraud prevention much easier. 

Here are eight steps you can take today to protect yourself from fraud:

  1. Be aware. Identify key areas where your business or firm is most vulnerable and know who is accountable for each. Then establish internal controls to keep these possibilities from becoming realities.
  2. Go paperless. Every bill or check lying around the office is a security risk. Going paperless reduces the risk of manipulation and information theft. You’ll also get an audit trail showing everyone who accesses, views or changes a bill.
  3. Enforce separation of duties: Make sure that no single user can authorize, process and record financial transactions within the business. For example, an employee who enters bills should never be able to authorize the payments as well.
  4. Automate work processes: By automating bill and invoice workflow, you ensure that nothing falls through the cracks while limiting access to only those who need it.
  5. Eliminate checks (outgoing): A single check contains every piece of information needed to access your money. By eliminating paper checks, you protect your account numbers and avoid the risk of lost, stolen or manipulated checks.
  6. Eliminate checks (incoming): Receiving payments electronically protects against checks being improperly deposited. A cloud-based service makes it easy to pay and get paid electronically.
  7. If you have to pay by check... don’t do it yourself.  There are still times where you will need to send checks to vendors.  If you have to do it, use a service that sends checks on your behalf, hides your bank account information and provides positive-pay protection.
  8. Do an internal audit regularly. A cloud-based automated system makes regular audits much easier, creating an online audit trail with full remittance data, cleared check images and approval confirmations.

The good news, accomplishing all this can be much simpler than it sounds. In fact, it’s nearly automatic when you move your accounting processes from the manual, paper-based world to the cloud, via services such as Bill.com.

# # #

Would you like to automate your time-consuming, paper-based manual processes by moving them to the cloud? Try Bill.com with no risk today or watch a short demo.

 

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Thursday, September 26, 2013 - 23:06

By Christina Del Villar, Senior Director of Marketing, Bill.com

National PTAThe National PTA is one of the largest nonprofits in America, with more than 26,000 chapters and 5 million members. But until Jessica Haberer came onboard, the organization was struggling to keep up with all the bills, expense reports and receipts flying in from every direction.

For PTA, it wasn’t a problem of not enough cash, but a problem of too much paper. Processing over 500 expense reports after each national conference, paying hundreds of incoming bills every month, and sending out hundreds of invoices to vendors every week was becoming unwieldy and unmanageable.

All that changed, however, when Haberer, senior manager of accounting, convinced the National PTA to move its finances to the cloud - today, their accounting process is automated, paperless, cloud-based, streamlined, and cost-effective.

All invoices, receipts and expense reports are sent to a single email address linked to a cloud-based online system. The system automatically routes each invoice to correct approvers along with any receipts, contracts and backup documentation. Then, as each invoice receives final approval, Haberer receives an automatic alert and pays the bill online.

Contrast this with the situation Haberer found when she started. Employees – many working remotely – would accumulate a stack of bills, sign their approvals and then FedEx the stack to their manager at national headquarters. Those invoices would then get buried in the manager’s in-box  while awaiting additional sign-offs. Eventually the bills would make their way to accounting, but often only after Haberer had chased them down.

“I can’t tell you how many evil emails I got from people saying, ‘I already gave you that invoice. I put it on your desk,’” recalls Haberer. “I couldn’t take the finger-pointing anymore. My staff and I were spending too much time running around the office trying to locate invoices. And signatures. It got to the point where we were spending an extra seven days to finish our close every month.”

What’s more, Haberer and her team were never sure how many invoices were outstanding or where they stood in the approval process. As a result, it was impossible to properly manage cash flow or know if a big payment was coming due.

Today, cash forecasting is a breeze. “Now we can see weeks in advance what’s in the pipeline and how it will impact cash flow,” Haberer says. “With everything visible online, I can now do better cash forecasting and pay bills in a more timely fashion.”

The National PTA has also saved money since moving their finances to the cloud. They’ve reduced postage, overnight delivery charges and costs for check stock, printer toner stationery and more. And since all invoices now arrive via email, the organization has dramatically cut back on physical mail and the labor that once went into sorting it.

What’s more, with the organization’s finances in the cloud, everything is always at Haberer’s fingertips now, even during her frequent travels to conduct trainings on fraud prevention. She can approve and pay bills, review any document she needs for a decision, and easily work together with any member, staffer or vendor in any part of the nation, from anywhere she needs to be. No matter where she goes, she’s never out of touch.

Would you like to automate your time-consuming, paper-based manual processes by moving them to the cloud? Try Bill.com with no risk today or download the Top Ten Tips for Nonprofits.

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Thursday, September 26, 2013 - 22:56

Business Intelligence Group

Bill.com, the leader in integrated bill payment, invoicing and cash flow management solutions for businesses, announced that Bill.com has been awarded a BIG Award for the second year in a row. This year its founder and CEO René Lacerte has been named executive of the year by Business Intelligence Group (BIG). Lacerte recognized for his vision and helping countless organizations improve their accounting processes

“You can spot real leaders by their passion and René Lacerte is no different," said Dawn Fordyce, managing director for the Business Intelligence Group. “René’s intimate knowledge of financial systems and processes combined with his vision for simplicity has helped countless organizations deal with their complex finances."

The Business Group recognizes true talent and superior performance in the business world through its award programs and interviews. They look to reward those companies whose achievements stand above their peers. The Executive of the Year Awards looks for executives who demonstrate leadership, results and loyalty as well as the drive and dedication that makes an executive stand above the rest.

Read the press release.

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Tuesday, September 24, 2013 - 08:01

Rene Lacerte Bill.com Top 100 Most Influencial

Bill.com, the leader in integrated bill payment, invoicing and cash flow management solutions for businesses, announced that its founder and CEO René Lacerte has once again been named one of Accounting Today’s “Top 100 Most Influential People.”  Lacerte recognized for making life easier for accountants

The Top 100 was created to recognize leaders who bring an extraordinary level of experience and authority to advance the accounting profession. To be considered for selection, the publication's editorial staff reviews a list of candidates from a diverse array of areas that affect the CPA profession including: practitioners, vendors, lawmakers, regulators, association heads, marketers, consultants and academics.

According to Accounting Today “serial entrepreneur Lacerte continues to make a splash by making work easier for accountants, these days by extending the already impressive capabilities of his Bill.com platform and integrating them with many of the other tools that businesses use. The members of our Top 100 Most Influential roster are the people who are truly making a difference in the accounting profession. In all their different fields, they are creating the profession’s future.”

An e-book on the top 100 list is available for download.

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Monday, September 16, 2013 - 09:26

By René Lacerte, Founder & CEO of Bill.com

Today is a great day at Bill.com. Today we reveal the next major step in alleviating the headaches and information roadblocks that plague finance departments everywhere. Today, we have launched the Bill.com App Center which is an open, SaaS-based platform focused on streamlining workflows and supercharging productivity not just for CFOs but for entire companies.

Finance departments are often in their own silo, unaware of purchases or sales that impact cashflow until it is too late. The Bill.com App Center creates critical bridges to the finance function. The result is essential business tools from cross-company departments are now integrated into the finance system. At launch, our App Center streamlines the finance department’s workflow, bringing together key tools such as expense management, online mail management, and accounting systems.

One of our first integrations is with the expense management solution Tallie. This integration means that finance professionals are able to finally combine bill payment and expense report automation, two functions essential to financial management which have not yet been seamlessly integrated. Finance professionals will have a clearer view—and better control—of their cashflow than before with the integration between payables, receivables, and expense reporting. Similarly, by integrating with Earth Class Mail, our customers now have an easy way to digitize their paper bills, making it simple to get these critical documents into Bill.com, where they can be easily categorized, approved, stored, and paid.

And this is just the beginning. We have many more integrations to announce in the months to come, all of which will help continue to alleviate the process headaches businesses face every day. We have revolutionized the core payables and receivables financial processes by automating them and we believe that by harnessing the power of the Cloud and open API’s we can help others reinvent all business processes. This is our commitment to you and our inspiration for the App Center. We hope you enjoy it and look forward to your feedback in the months to come. 

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Sunday, September 15, 2013 - 20:22

Cloud-Based Automation Brings Finance Professionals Clearer View and Better Control of Cashflow.

Bill.com and SpringAhead announced that they have integrated Tallie, SpringAhead’s expense report software, in the new Bill.com App Center, which launched today. The combination of these two market-leading SaaS solutions finally unites bill payment and expense reporting automation, two functions essential to financial management. Never before have bill payment and expense report systems been so deeply integrated. Now, by bringing payables, receivables, and expense reporting together, finance professionals will have a clearer view—and better control—of their cashflow than ever before possible.

“If you’re looking for a good first step to move to the cloud, Bill.com is your product. It dramatically improves your processes, and tightens security for your cash management. And the perfect next step is to implement the Tallie expense management solution,” said Doug Sleeter, President, The Sleeter Group. “The combination of Tallie and Bill.com makes the whole expense management process smooth, secure, paperless and efficient.”

Learn more.

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Sunday, September 15, 2013 - 20:03

Bill.com, the leader in integrated bill payment, invoicing and cash flow management solutions for businesses, today announced that it has launched the Bill.com App Center, which for the first time creates an open, SaaS-based platform focused on streamlining workflows and supercharging productivity not just for CFOs but for entire companies. Whereas the finance function historically has been an island, unaware of purchases or sales that impact cashflow until often too late in the process, the Bill.com App Center has now created critical bridges to the finance operation by integrating essential business tools from cross-company departments into the finance system.

The Bill.com App Center is designed to solve financial professionals’ most common business needs, streamlining workflow by bringing together key tools, such as combining expense management, online mail management,  and accounting systems. The first phase of the App Center will feature deep integration with a select group of best of breed solutions, which have been highly requested by existing customers and prospects. Deep integration means that the solution meets specific customer workflows, is integrated to the point that set-up is easy enough to be self-serve, and allow for easy, immediate data conflict resolution. Just as Bill.com led the industry by making it possible for SMBs to manage end-to-end financial processes with seamless accounting software sync, the company has now extended this power to other business processes.

For example, by integrating Tallie and Bill.com, finance professionals are able to finally combine bill payment and expense report automation, two functions essential to financial management, which have historically never been united. By managing payables, receivables, and expense reporting together, finance professionals will have a clearer view—and better control—of their cashflow than ever before possible. Similarly, by integrating with Earth Class Mail, Bill.com is offering its customers an easy way to digitize their paper bills, making it simple to get these critical documents into the Bill.com solution, where they can be optionally entered using Bill.com data entry service, easily categorized, approved and paid.

Learn more.

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