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By René Lacerte, Founder and CEO, BIll.com

In the olden days, learning a second language was a sign of sophistication. Then, as our world became smaller and companies became more global, being multilingual became a business advantage. But, more and more leaders are realizing that there is one language that it is especially critical to be fluent in if your business is to have a competitive edge. It isn’t Spanish or even Mandarin. It is cash flow.

Being fluent in cash flow means that you know what state your finances are in at any time from any place. It means that you can predict and control your cash flow with a precision never before possible. Your finances are always updated automatically and you can even project your receivables, payables and balances out for three months. This means that you are finally able to manage your cash flow rather than having it manage you. With the ability to see potential problems ahead, to make real-time adjustments as needed (no Excel spreadsheet required) and to execute no matter where you are by scheduling your transactions in advance, you are finally free to focus on the most important thing: growing your business. And this isn’t possible if your finances aren’t automated. Cash flow fluency is simply unattainable in a manual world.

The reason is simple: a spreadsheet can never come alive the way a Cloud application can. Being in the manual world is like having a pocket dictionary as your only tool. You might be able to piece words together, but they don’t add up to an understandable phrase let alone sentence. In the manual world, you are drowning in bills, paper work, slow approvals and archaic processes. It is impossible to look ahead because you are always stuck inputting what happened in the past.

The good news is that, unlike learning a new language, becoming fluent in cash flow is as easy as downloading a cloud app. And just as Shakespeare exponentially expanded the English language, cloud computing has take the language of cash flow to new levels, bringing data to life and enabling new insights never before possible.

So, come join us in the automated world. Not only will being fluent in cash flow liberate you from mundane tasks and let you finally see your finances clearly, it will also let you see the forest instead of the trees, freeing you to make good, big decisions rather than worrying about chasing down invoice approvals.

Believe me, the language of cash flow will be music to your ears.

Overview (Nice improvements on the way)

We have added several feature and functionality enhancements to the Inbox, Payables and Receivables processes, Platform and Security to further improve your experience with Bill.com.

We have also improved the syncs with our partners and new integrations will be coming soon on the new Bill.com platform.

Inbox Enhancements

To help you easily distinguish and process emails with attachments in your inbox-we have added the functionality to separate emails and attachments.

Also added is the Append Shortcut Actions List in which five most recently processed items will be listed.

Payables Enhancements

To streamline the process of paying and managing your bills, we have added updates to the procedures of bill entry, approvals and reports.

Training Enhancements

To help you get up and running faster and more efficiently, we have added Online Training.

You can also connect with other users of Bill.com by joining the new Online Community where you can ask questions; share tips and best practices and understand how others are using the application.

Security Enhancements

To reduce fraud on your accounts, we have added industry gold standard 2 factor authentication in our application.

If we suspect a fraudlent activity on your account, we'll send a security code to your phone and prompt you to enter the security code in your Bill.com account.

We’ll begin rolling this out in July 2013 and hope to have everyone on board by September or sooner. You can contact Bill.com Support for earlier adoption.

Platform Enhancements

To help you get a complete view of all business processes at work, we have launched a new application platform powered by open APIs.

Other partners can connect with Bill.com to solve your business needs of:

• Expense reporting
• Document scanning
• CRM
• Better and more accounting system integrations
• Others

Receivables Enhancements

You can block your customers from removing their credit card/bank ID and disabling Auto Pay.

You can update your receivables preferences, so that your customers are locked into the billing agreement that they have with you.

June 2013 Bill.com Product Webinar

Our recent webinar, now available for replay, gives insight on how to quickly and efficiently rake in your receivables, improving cash flow and freeing your time to build your business.  Mark Lindsay, Managing Director of Lindsay Leasing, shares their story of growing the business at double the planned rate by leveraging cloud-based technologies in the residential rental industry.

Mark and Teresa Lindsay started the business from the ground up two years ago, providing property management services for single family homes and condominiums. Their goal was to add one property per month. Business is booming; they are currently managing 50 properties!

The company follows a standard industry business model, to a point.  They market to property owners, sign listings and prepare properties for rent. Following this they procure tenants, collect rent and maintain the properties.  Of course, in order to retain customers and build the business it’s critical to pay property owners and vendors on time, keeping everyone happy.  This requirement is what motivated the Lindsay’s to find a way to differentiate their company from the competition.

At the beginning, with only a few properties to manage, it was easier to keep things running smoothly. But as the business grew the number of transaction grew exponentially. With increased volume, chances for errors and delays multiplied.  In order to continue growing the business more staff would be required, adding cost and impacting profits.  In addition, collecting rent manually meant that funds were not quickly available to pay property owners and vendors.

Lindsay could see that in order to maintain business expansion and keep everyone happy, something had to change.  Having previously worked in the high tech industry, he turned to technology to solve his business challenges. After several potential solutions were unable to meet his business needs, Mark discovered Bill.com. The ability to manage accounts receivable, accounts payable and cash flow from a single cloud-based platform simplified all of these processes for Lindsay Leasing. Rents are automatically debited from tenant checking accounts on the due date, eliminating multiple trips to the post office and the bank, freeing time to continue building the business. Tenants find this method convenient and easy.  And owners and vendors are ecstatic to receive payments so quickly.

To learn more about how to rake in your receivables 2-3 times faster with Bill.com watch the webinar replay or view a demo.

By Christina Del Villar, Senior Director, Marketing

For millions of businesses trying to go paperless, the main source of pain was a 10-inch-wide slot in their front door. As long as checks, contracts, bills, tax notices and documents for signature kept coming through via paper mail, these businesses were stuck in the last century with obsolete processes that chewed up time, burned up money and tied up owners and managers with paperwork. Then Earth Class Mail came along.

If those problems sound familiar to you, this month’s “No Check” CFO not only understands your pain, she knows how to solve it. As part of the management team at Earth Class Mail, Stacey Lee helps paper-bound businesses escape the “pmail” (paper mail) trap every day.

“Our customers never have to open an envelope or handle a paper document,” Lee says. Earth Class Mail receives your pmail for you, scans it and stores PDFs of the mail you want to see. They securely store or shred all your pmail – your choice. Checks received are deposited automatically. They even accept parcels and forward them to you or your customers.

Now accountants and attorneys can take care of their clients from anywhere they have email access – even while on vacation. Internet entrepreneurs can manage their paper mail the same way they manage the rest of business – online. And all kinds of marketers can now handle inbound customer mail such as applications, survey responses and coupon redemptions without handling the paper.

So how does Earth Class protect itself from living the same paper mail nightmares they save their customers from? “We couldn’t survive if we didn’t make maximum use of cloud-based services ourselves,” says Lee.

“For instance, while we’re busy eliminating the need to open, handle and file paper documents for our customers, Bill.com is eliminating those same hassles for us when it comes to accounts payable and receivable.”

The way Earth Class customers can deal with their paper mail from anywhere, Bill.com lets Stacey Lee manage bill approvals and payments, invoicing and collections – even cash flow – from wherever she happens to be.

“I’ve paid the bills from Mexico and probably six different European countries,” she says. “I do a lot of my work from outside the office.”

There’s a new generation of tech-savvy business leaders using ground-breaking technology to replace time-consuming, paper-based processes everywhere in their businesses. If pmail is the only reason you haven’t joined them yet, let Earth Class Mail and Bill.com set you free.

Is Bill.com right for me? 

Learn more about Earth Class Mail.

By René Lacerte, Founder and CEO

Working remotely once meant that you had less control. Decisions were being made without you, documents were often lost or misfiled, transactions stalled or just never happened. Being remote meant you had to leave someone else—someone who may not be the best choice—in charge of mission critical tasks.  This is why many CEOs and CFOs who are still using a manual method to run their office are afraid to leave.  They don’t realize that the cloud has changed everything and that being a Remote Control CEO is actually a business advantage. I know because I am a Remote Control CEO, and this is my story.

I truly believe that using my mobile device to conduct critical business has made me a better CEO.  The fact is that my job takes me out of the office more often than not. But these days it doesn’t matter where I am.  If someone needs an invoice paid or a bill approved, I am automatically notified by the Bill.com system and I can click through from my device where all the documents I need to make my decision are stored. Once I have decided on an action I can complete any needed approvals or transactions in seconds.

I never have to worry about the back up documents getting lost or misplaced in piles of paper or over-stuffed file cabinets. And the record of our back and forth with my staff and vendors about the bill is stored with the transaction. This cuts down on disagreements because I never have to hunt through emails to recreate what really happened, the facts are all there.

Plus, having everything at my fingertips means it’s easy to collaborate wherever I may be, with customers, partners or co-workers who are back at the ranch. Being able to work from my phone makes the collaboration that the cloud promised us not just possible but extremely fruitful. I am able to make important decisions, finalize key contracts and work effectively with my team no matter what. And I can work quickly and efficiently, even more so than the old days when I was chained behind a desk with stacks of papers. This is what the virtual workforce is really about, not the old idea of having some random people stationed at their homes. It is about being effective and efficient in any location at any time.

And the cloud is more secure than any office file cabinet ever was. Indeed, when we surveyed more than 500 finance executives back in January, 83 percent said they are quite comfortable with mobile security. So, now it really is safe to leave your office.

So, not only am I a “No Check” CEO, I am a “Remote Control” CEO. And I am really proud of the efficiencies and effectiveness that working remotely has brought to my business and my leadership.

Now is the time to go remote if you haven’t yet if for one simple reason: summer. Get out there this year and finally take the vacation you deserve—and let your employees do the same—while keeping your business humming. Because lying on the beach or hiking through the mountains are some things you still need to be in person to do. And thank goodness that nothing will ever change that!

Bill.com is offering a free webinar on Monday, June 3, 10AM PT, on how to rake in your receivables 2-3 times faster – automatically! This webinar will explain how to start raking in your receivables faster than ever before, with an easy cloud-based system that does your invoicing for you, makes it easier and more convenient for customers to pay you, and eliminates time-wasting trips to the bank and more.

Mark Lindsay, Managing Director of Lindsay Leasing, will share his success using cloud-based services to streamline a booming property management service. Moderated by Lisa Lang, Bill.com Senior Vice President of Marketing, the webinar will demonstrate how you can rake in your receivables 2-3 times faster.

Register here!

By

A long time ago, in what sometimes seems like a galaxy far away, there was an incredibly funny show called Seinfeld. One of my favorite episodes revolves around George and his wallet.

A long time ago, in what sometimes seems like a galaxy far away, there was an incredibly funny show called Seinfeld. One of my favorite episodes revolves around George and his wallet.

Now, George was immensely proud of the fact that his entire life could be found in his wallet. He had receipts from eons ago, with his wallet so stuffed that he had to sit at an angle and had immense back pain. He even had to go to the doctor, who told him he had to get rid of his wallet. George, being George, wouldn’t listen. Instead, he ended up stuffing his other pocket with paper towels to match the bulge. But, being George, he eventually loses all the contents of his entire wallet. Because, of course, the wallet ultimately explodes and sends documents swirling over a street corner while he stands below still bragging to Jerry.

The episode, like so many Seinfeld episodes, was classic enough that you can find it in the Urban Dictionary. Hey, don’t overstuff that or it’ll go like George Costanza’s wallet is the sample sentence.

So, being the “No Check” CEO that I am, I’m here to offer you that same advice today about your business. Don’t overstuff all those file cabinets, desktops and, worse yet, brain cells. Use ePayments and the power of the Cloud to clear your desk and your mind.

It is amazing the difference technology has made since that episode ran in 1988. The murse (male purse) has come and gone as an alternative to a wallet. Today, all you really need is a mobile device and you can conduct business anywhere, anytime. With Bill.com, for example, you can work as effectively from your backyard as your boardroom.

Today, more than 80% of transactions between U.S. small-to-medium businesses (SMBs) still involve paper invoices, paper checks, or manual reconciliation, resulting in costly inefficiencies and errors.  Businesses need to take a cue from consumer goods companies. Thanks to companies like Apple and Square, paper receipts are starting to go by the wayside and are being replaced with an email.  Sweet.  I look forward to the day that every retailer follows their lead.  Additionally, how many times do you make purchases without physically using your credit card, be it online or via swiping your phone? If not a lot yet, more and more every day. So why is it that these technologies have not come over to the business world?  Now is the time for businesses to catch up. We have the technology. You can be up and running on Bill.com in less than an hour.

So, go paperless, rid yourself of your bulging wallet and not only have a sleeker silhouette but have more peace of mind that you have what you need where you need it all the time. Because, let’s face it, although we all love George, none of us want to pull a Costanza.

By René Lacerte, Founder and CEO

We’ve all seen (or been) that guy. The one who comes to meetings with piles of papers. The one who pulls out an old notebook to dig up a fact from a conversation held months ago. The one who has piles of receipts tucked away in the corner of his office, big piles of paper that even the cleaning staff avoids out of fear of anything falling out of place. This is a person armed with paper power. Any fact, any tidbit, any bill, they are all within his reach.

So why does he look so worried all the time?

Let’s face it, being the keeper of so many pieces of paper is extremely stressful. How often in a day do you have to think about misplacing a bill or throwing out something that perhaps you needed to keep, just in case an audit might happen sometime down the road? If you are the guy with the stack of paper in the meeting, do you really feel confident? Or are you actually petrified that you might leave something behind?

I’ve been traveling a great deal lately and so I have really had to put my paperless pledge into action. And I have to say, it feels better to be the guy with no back-up needed than the guy with all the answers in tow. Because the fact is that even though I left my binders at home, I can get every piece of data I need at my fingertips, no matter where I am, via Bill.com and the cloud. It’s liberating to actually attend a meeting with no files, no notebooks, no documents in hand.

So, although Earth Day may have come and gone, it’s still a great time to take the paperless pledge, not just for the state of the earth but for the state of your mind.

Try it. Go to a meeting with nothing but your ideas and your smart phone. You will be amazed at all you can accomplish, no back-up needed.

By René Lacerte, Founder and CEO

Here at Bill.com, momentum and awards continue to build. In the past few months we have been honored by industry pundits, organizations and publications with some amazing awards.  Today, I am pleased to add another award to our trophy case: We have been named a winner in the Best Business Application or Service category of the 2013 San Francisco Business Times Tech & Innovation Awards.

This award is especially meaningful to us because it isn’t easy to get recognized as the best of the best in a backyard packed with talented minds, amazing companies and innovative products. Silicon Valley is bursting at the seams with great ideas and cool new companies. We are proud to be one of them.  We are proud to be on to something revolutionary.  It is especially nice to hear that other people feel that way too.

We aren’t about flashiness at Bill.com. We are about a straightforward, practical solution to an age-old problem. By harnessing the power of the cloud, we are able to help business leaders better manage their finances, letting them free their minds to dream bigger and build better things.

We appreciate the recognition and are excited for all that is to come. And we thank you, our customers, because without your input and your enthusiasm we wouldn’t have been able to create something worthy of this award.

Thanks again—and here’s to you!

You can read our press release here.

Bill.com Offers Free Webinar on How to Liberate Yourself and Your Business from Paper in Less Than Seven Days. Webinar Demonstrates How You Can Focus on Strategic and Personal Priorities Instead of Minutiae By Clearing Your Desk of Paper

Bill.com announced that it will offer a free webinar on how to set you and your business paper-free in less than seven days, on Wednesday, May 22, at 1:00 p.m. PT. Registration is available now at http://cashflow.bill.com/PaperFree052213.html?medium=pr.

Eliminating papers liberates you from time-consuming processes that drain your brain and keep you stuck at your desk, giving you more time and energy to focus on strategic and personal priorities. The webinar will feature Barry Yarkoni, CEO of Vinomis Laboratories, which is growing rapidly and has been managed by paper-free offices on both coasts from day one, as well as Joel Andren, Executive Director of Paperless 2013, the paper-free initiative backed by more than 30 innovative tech companies including Bill.com.

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