SOURCE: Bill.com

Bill.com

April 14, 2010 07:00 ET

Bill.com Celebrates Earth Day By Joining PayItGreen™ Campaign

Marks 40th Anniversary of Earth Day With Contest and Other Activities

PALO ALTO, CA--(Marketwire - April 14, 2010) - Bill.com, the leader in paperless bill management and payment for small and medium-sized businesses (SMBs) and CPA firms, today announced it has joined the PayItGreen™ campaign to celebrate the upcoming 40th anniversary of Earth Day. The campaign is led by the PayItGreen Alliance, a national organization consisting of environmentally conscious leaders in the financial and consumer billing industries. PayItGreen is designed to increase consumer and business awareness of the collective environmental benefits of switching to electronic billing and payments. Information about PayItGreen, including calculators to help quantify the value of going green, can be found at www.payitgreen.com

In addition to joining leading banking and technology vendors in the PayItGreen campaign, Bill.com is marking this important day in several ways:

  • Bill.com has initiated a contest to design an Earth Day logo for its website, which will be displayed throughout the Bill.com site starting April 22 (Earth Day) and through the rest of the month. Bill.com will make a donation to Plant a Billion Trees, a program from The Nature Conservancy, the leading conservation organization working around the world to protect ecologically important lands and waters for nature and people. One dollar plants one tree in The Atlantic Forest of Brazil, considered one of the world's most endangered tropical forests. The reforestation effort will also remove 10 million tons of carbon dioxide from the atmosphere every year. The Conservancy is working to bring the Atlantic Forest back from the brink -- restoring 2.5 million acres of land and planting 1 billion trees over the next 7 years.

  • Starting Monday, April 12, Bill.com will count down to Earth Day by posting 10 tips for helping businesses go green.

  • On Earth Day, all payment fees generated by Bill.com customers making ePayments will be donated to Plant a Billion Trees.

Since 2006, Bill.com has been leading the way in helping SMBs save time and money by managing their bills and payments online, automating workflow and eliminating manual paper-based processes. In addition to customers reporting over 50% savings in the time and cost of managing accounts payable, using Bill.com can have a substantial positive impact on the environment. If a person receives 20 invoices and pays 20 bills per month electronically instead of with paper invoices and checks, he/she would conserve the following resources in one year:

  • 7 lbs of paper

  • 71 gallons of wastewater prevented from discharging into lakes, streams and rivers

  • 2 gallons of gas consumed from delivering bills, statements, and payments

  • 22 square feet of forest preserved from deforestation

  • 125 lbs of greenhouse gases prevented -- the equivalent to 127 miles driven in your car

"We are proud to join PayItGreen and celebrate the 40th anniversary of Earth Day as part of our continuing effort to help our customers move to electronic payments," said Rene Lacerte, CEO at Bill.com. "ePayments are not only environmentally friendly but make it much easier and more efficient for businesses to manage their cash flow and improve their relationship with their vendors." 

Since launching Bill.com ePayments in May 2009, tens of thousands of payments have been made by Bill.com customers electronically to individuals, SMBs and large vendors. 

About PayItGreen

The PayItGreen Alliance was formed in 2007 to educate consumers about the positive environmental impact of choosing electronic bills, statements and payments over paper alternatives. The Alliance is comprised of leaders in the financial and consumer billing industries including representatives from Bank of America, BillMatrix, Capital One, CheckFree, now part of Fiserv, Citi, Citizens Bank, The Clearing House/EPN, Harris Bank, the Federal Reserve Banks, Fiserv, JPMorgan Chase, The Regional Payment Associations, SunTrust Bank, U.S. Bank, Wachovia, and Wells Fargo. Special advisors to the Alliance are AT&T, Con Edison and Qwest Communications. NACHA -- The Electronic Payments Association is coordinating the initiative.

About Bill.com

Bill.com is an on-demand accounts payable application for CPAs and small and midsized businesses. Bill.com users can receive, route and pay invoices electronically -- they never have to touch a paper bill again -- resulting in time and cost savings to finance personnel of over 50% versus manual accounts payable and check writing processes. Invoices are emailed, scanned or faxed into the Bill.com service. Digital images of invoices are then routed electronically for approval, ensuring a complete audit trail and eliminating lost or mishandled paper. Bill.com handles check printing and mailing as well as electronic payments, and uses enterprise-class fraud protections that are impractical for small and midsized businesses to implement on their own. Bill.com integrates with popular desktop and on-demand accounting packages, ensuring consistency of financial data and streamlined financial planning, reporting and audit activities. Bill.com has received numerous awards including a 2009 Innovation Award from CPA Technology Advisor, a 4-star rating from PC Magazine, and was recently named to the Red Herring Global 100.

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