SOURCE: Bill.com

Bill.com

June 03, 2009 07:00 ET

Bill.com Wins 2009 Tax & Accounting Technology Innovation Award

CPA Technology Advisor Recognizes Bill.com's Sophisticated Functionality, Ease-of-Use and Fast Time-to-Value

LOS ANGELES, CA--(Marketwire - June 3, 2009) - Bill.com, Inc., the leader in online accounts payable, has won a 2009 Tax & Accounting Technology Innovation Award. The Innovation Awards are presented by The CPA Technology Advisor, the leading independent multimedia technology resource for the profession, and are recognized as a pinnacle of achievement for developers of software, hardware, services and other technologies. Now in its sixth year, the Innovation Awards honor new and enhanced technologies that benefit accounting and tax professionals. This is the first year that all five winners were online technologies.

Bill.com was recognized for its paperless, web-based bill management and payment system -- an inexpensive and easy to use application that supports the sophisticated features and controls required by small businesses and accounting firms. Accountants and clients collaborate with a user-friendly interface to review and approve invoices, manage cash flow and payment schedules, digitize and retrieve financial documents, and seamlessly handle online payment both by check and electronically. Bill.com integrates to popular back-end accounting systems including QuickBooks and Intacct, ensuring that accounts, vendor information, payments and balances are always synchronized.

The 2009 Tax & Accounting Technology Innovation Awards were presented yesterday at the California Accounting and Business Show & Conference in Los Angeles. Winners of the Tax and Accounting Technology Innovation Awards are selected by The CPA Technology Advisor's Awards Committee, which includes its editorial staff, contributing expert writers, editorial staff, thought leaders in the profession and its editorial advisory board. The advisory board is comprised of accounting and tax professionals from across the country at public firms of all sizes, from sole practitioners to major, multi-office regional practices. Nominated products must be less than two years old or have undergone a significant revision or addition during the past two years.

"Bill management and payment are fundamental to every business and historically huge time and cost sinks," said M. Darren Root, executive editor of The CPA Technology Advisor. "Bill.com is like a breath of fresh air for accountants and small businesses. The product is very sophisticated and yet easy to use, so accountants see the benefits almost immediately. In a very short time, Bill.com has endeared itself to accountants, becoming a key part of their daily business processes."

"We are honored to receive this prestigious award and proud to be making client bill payment easier and less expensive for accounting professionals and small businesses," said René Lacerte, founder and CEO at Bill.com. "From the start we've focused on enabling paperless collaboration between accounting firms and their clients and streamlining invoice approvals and payments, so bills are paid easily and on-time while giving accountants clear visibility into their clients' financial positions. That accountants have so embraced Bill.com is testament to the hard work of our team and also to growing confidence in the web as the primary platform and long-term solution for accounting systems."

CPA2Biz, Inc., the for-profit marketing and technology subsidiary of the American Institute of Certified Public Accountants (AICPA), is the exclusive provider of Bill.com to the accounting profession.

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 solution. Digital images of invoices are then routed electronically for approval, ensuring a complete audit trail and eliminating lost or mishandled paper. Users can access digitized supporting documents such as current and past bill images, cleared check images and contracts, at every step in the process, from anywhere, at any time, over the Internet. Bill.com handles check printing and mailing, 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.

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