SOURCE: Bill.com

September 10, 2008 09:15 ET

Bill.com Launches Enhanced QuickBooks & QBOE Integration at 2008 QuickBooks Enterprise Solutions User Conference

Bill.com Incorporates Ease-of-Use Improvements to A/P Processes and Gives Small Business & Accountants Low-Cost Enterprise Functionality

DALLAS, TX--(Marketwire - September 10, 2008) - Bill.com, Inc., a Software as a Service (SaaS) company that provides businesses on-demand accounts payable software, today announced enhanced QuickBooks and QuickBooks Online Edition (QBOE) integration for small businesses and accountants at the 2008 QuickBooks Enterprise Solutions User Conference in Dallas. Bill.com's new QuickBooks one-click, two-way synchronization integrates both front-office and back-office finance functions to give small businesses and accountants a simple, cost-effective enterprise-class solution for managing accounts payable (A/P) and enhanced business bill pay.

Bill.com is a hosted service that combines accounts payable, financial document management, bill payment, advanced fraud protection, and cash management in a simple web-based solution. Invoices are uploaded, e-mailed, or faxed into the system and can be viewed and approved online by the finance team and appropriate business users. At every step of the way, users can view digital images of related materials such as past invoices and contracts and can schedule invoices for payment based on due dates and cash flow projections. In addition to paying bills automatically, Bill.com offers state-of-the-art fraud protection services that most small businesses would not be able to implement on their own.

"From the beginning, we knew that integration with QuickBooks was essential and of great value to our customers," said Bill.com Founder and CEO René Lacerte. "As someone who has run several businesses, I know firsthand the importance of managing the accounts payable and cash management functions as effectively as possible while not requiring duplicate effort or impairing any other financial processes or reporting. We have bridged the gap between Bill.com's web services and the desktop software of QuickBooks. There is no other extension of QuickBooks that pulls together payables, financial document management, bill payment and cash management into one easy-to-use and easy-to-access interface."

Key Benefits of Enhanced QuickBooks Integration

Focused on alleviating the many frustrations traditionally experienced in the area of managing invoices, approvals, business bill payment, and online bookkeeping, Bill.com is an easy-to-use, intuitive online solution that helps companies save between 50% - 80% of the time and money spent managing their payables. For companies already using QuickBooks, Bill.com brings an added dimension to the management of everyday finances including:

--  paperless A/P workflow utilizing digital images of invoices and other
    financial documents for both financial and non-financial users to access;
--  enhanced bill payment with full lifecycle invoice and check
    management, as well as advanced fraud protection previously only available
    to large enterprise organizations;
--  end-to-end visibility of A/P processes, including easy access to all
    financial records involved in every transaction;
--  easy access to payment status, cleared check images, and transaction
    audit trail, with embedded links in QuickBooks.
    

"The one click, two-way synchronization enhancement to our QuickBooks and QBOE integration ensures end-to-end consistency of information and eliminates duplicate data entry, which saves businesses time and improves accuracy," said Bill.com Vice President of Product Development Mark Orttung. "One of the biggest benefits of integrating with QuickBooks is the elimination of managing separate export/import processes and handling intermediary data sets -- Bill.com automatically does this for you. In addition to providing support for QuickBooks and QBOE, Bill.com also supports multiple versions of QuickBooks on a single server to aid accountants who manage multiple clients with separate data files."

Chris Lyle, Finance Administrator for the Pacific Reproductive Center, is an early adopter of Bill.com's service and major advocate for the product. "Integrating QuickBooks with the Bill.com system was quick and easy," he states. "Bill.com allows me to view a copy of the original invoice, something I could not do with QuickBooks alone, and then store it electronically, so I no longer need to store boxes of old paperwork. It also makes the workflow and approval process so much easier, because we can track invoices at any time."

"Bill.com, combined with QuickBooks or QBOE, automates and simplifies the accounting, bill payment and document management process, while making reporting more accurate," added Mr. Lacerte. "This translates to greater profitability for accountants and small businesses alike. We are ecstatic about early adoption rates of our service and of our QuickBooks integration."

About Bill.com

Based in Palo Alto, Calif., Bill.com simplifies the way companies manage bills, invoices, contracts and other important documents, allowing them to focus on growing their business. Bill.com is a web-based, financial management service that allows companies to store all documents, related processes and transactions in one place, so financial stuff can be easily and securely accessed from anywhere, any time. Unlike traditional accounting systems with after-the-fact reporting, Bill.com is the first and only low-cost service that gives companies a real-time daily view of anticipated cash flow while simultaneously processing transactions. This allows companies to more effectively plan, forecast and make smarter financial decisions -- adding a new dimension to finance management. For more information, visit www.Bill.com.

Contact Information

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    Cathy Sperrazzo
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