SOURCE: Bill.com

Bill.com

March 04, 2010 07:00 ET

Bill.com Promotes Mark Orttung to Chief Operating Officer and Dan Lind to Vice President of Operations and Support; Appoints Christy Ross Vice President of Business Development

PALO ALTO, CA--(Marketwire - March 4, 2010) -  Bill.com, the leader in online bill management and bill payment for small and midsized businesses and CPA firms, today announced a series of management changes designed to help the company scale operations and expand market share. Mark Orttung, who was previously vice president of products, has been named chief operating officer. In this role, he will oversee Bill.com's customer support and payment operations teams in addition to product management and product development. Dan Lind, formerly senior director of operations, has been promoted to vice president of operations and support and now oversees both payment operations and customer services. These changes better equip the company to continue its rapid pace of product and process innovation.

In related news, Christy Ross has been named vice president of business development. She will oversee Bill.com's growing strategic relationships with software providers, resellers, and financial institutions.

"I'm very excited to announce these appointments," said Rene Lacerte, founder and CEO at Bill.com. "Mark is a proven leader with a strong sense of customer and market needs and a unique ability to bridge the gap between technology, usability, and process. Dan has done an incredible job advancing the customer service and payment operations groups, building a scalable process and delivering world-class customer service. Under their stewardship we've kept up with intense demand for new features and customer support, while preparing the company for its next phase of growth. Christy brings our organization incredible depth and experience in working with strategic software and financial markets partners. Among other things, these appointments will allow me to work even closer with our customers, accounting firms, and partners."

Prior to Bill.com, Orttung was vice president of platform and engineering for Rearden Commerce, helping the company grow to over 700 customers and more than 40 distributors, while building his team to over 100 employees. Meanwhile, Lind spent several years at Ariba before joining Bill.com. At Ariba he led a cross-functional team in the strategy, development and launch of the Ariba Supplier Network, the world's largest business-to-business procurement and supply chain network, growing it from pre-IPO to over 25,000 suppliers in 30 months. Prior to Bill.com, Ross held several positions in the financial industry including at First Interstate Bancorp where she worked on cash management products, and at Intuit where she launched Quicken.com and grew site traffic from 300K per month to over 20 million per month through partnerships and acquisitions.

The appointments of Orttung, Lind and Ross follow a year of tremendous growth for Bill.com, which saw monthly recurring revenue, total number of paying customers, and unique paid vendors each increase by over 800% in 2009. Meanwhile, small and medium sized business and accounting firms saved time and money managing over $500 million in bills using Bill.com, demonstrating the product's power, reliability and ease-of-use.

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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