By Adrienne Moscinski, Senior Associate
BILL (formerly Bill.com) is a cloud-based software that automates financial operations by eliminating manual processes enabling users to complete tasks faster and more accurately. Here at Wiss, we use BILL in our clients’ Accounts Payable process to leverage secure digital organization and integration of the payables process with accounting software for ease of use and alignment with our goals to provide high-level client services.
Key Features and Benefits:
- Payables Automation: The process is simplified through document digitization and automatic approval workflows. BILL’s featured automated data entry reduces manual input, human error and time spent on task while utilizing historical data per vendor.
- Accounting Software Synchronization: Seamlessly synchronize with the most popular accounting softwares (including QuickBooks, Sage Intacct, Xero, and NetSuite).
- Accessibility: Access BILL from your computer and on the go. As a cloud-based software, log in to BILL via website browsers or the official app to add, manage, approve and pay bills.
- Electronic & International Payments: The platform utilizes secured electronic payments to help vendors get paid faster, while reducing operational costs. They also offer the option to send paper checks. International Payments are available to vendors in over 130 countries, at competitive pricing, paid in USD and local currencies.
- Vendor Management: BILL helps you manage contacts and track vendor information regarding invoices, payment history, tax information for 1099s and maintain audit trail support.
- Workflow Approvals: Customizable approval workflows facilitate financial control for specific individuals to review vendor and bill information while authorizing financial transactions. BILL lets you create default approvers, customized approval policies based on various filters (Chart of Account, vendor, amount, etc.) and approval groups to further reduce manual entry processes and time spent entering and reviewing data input.
- Document Management: Documents can be managed in BILL to facilitate streamlined organization and easy access to all files in a central location.
- Audit Trail: All financial transactions are tracked via audit trail for reference and compliance transparency.
BILL’s Accounts Payable functionality empowers accounting teams and their clients to easily control finances in the current fast-paced digital landscape. Utilizing key features for automation, electronic payments, workflow management and approvals, BILL’s platform increases efficiency and security for financial operations to support client growth and success. Reach out to discuss how Wiss can help revitalize your Accounts Payable process today.