SOURCE: Bill.com

February 20, 2008 15:04 ET

New Online Bill Management Service Bill.com Helps Business Reduce AP Process by an Estimated 30-50%

Bill.com Introduces Free One-Month Trial and Flat $15 Monthly Fee per User for Unlimited Transactions and Document Storage

PALO ALTO, CA--(Marketwire - February 20, 2008) - Bill.com, Inc, a Software as a Service (SaaS) company that provides businesses automated billing and bill management services, is making a profound difference for its customers. Not long ago, PayCycle, Inc.'s bill payment approval process took a grueling 3-5 days. After getting automated with Bill.com, today it takes less than 24 hours, reducing the company's overall AP processing time by 30-50%. Bill.com opens the gate for businesses like PayCycle to easily and affordably use online bill payment, e-invoicing and collections, while managing their daily cash flow with a click. Check out the new Bill.com Video to see how it works.

New Bill.com Offerings: Free One-Month Trial and Flat Rate Monthly Pricing

In addition to providing substantial time and cost savings, Bill.com launched a new offering to get more businesses to test its service. Bill.com is offering a free one-month trial and a flat fee of $15 per user, which includes unlimited transactions and document storage. To get started with a free one-month trial, users simply need to go to Bill.com sign up.

Common Bill Routing Problem

Like most businesses, when a bill would come into PayCycle, it would physically have to circulate around the building before making it back to the accounting department, where a check would be cut and mailed. Bills would get lost in piles and stuck on people's desks. As a result, PayCycle would occasionally get hit with late fees and in some cases make duplicate payments on bills already paid.

Bill.com has eliminated all of this hassle. With new efficient workflow processes, PayCycle has experienced huge gains in productivity, increased control and management of everyday finances, and cost savings to the tune of a part-time employee, according to PayCycle CFO John Eichhorn.

"We were operating in the dark, not knowing if a bill actually came in or where it was in the approval process," said Mr. Eichhorn. "We had a very manual, error-prone and frustrating process. I estimate that Bill.com has cut down our entire accounts payable process by 30-50%, saving us precious time while ensuring much more accurate financials, more effective cash management and delighted vendors and internal partners."

Bill.com is an easy and affordable option to shift companies from time-consuming, paper-based systems to a paperless, integrated solution for managing day-to-day financial stuff. Targeted at companies with up to 1,000 employees, Bill.com makes day-to-day cash management, document management and bill payments much easier. It allows companies to easily create and export reports into Microsoft Excel or Adobe Acrobat, and it integrates with QuickBooks. Bill.com allows accountants and bookkeepers with multiple clients to aggregate and view all workload tasks on one dashboard screen. It has the power of an enterprise-class application, yet requires no internal IT resources to configure. Companies also benefit from not having to upgrade or back-up data since Bill.com is a 24x7 hosted website.

About Bill.com

Based in Palo Alto, Calif., Bill.com is an online bill management service that simplifies and automates business finances. Bill.com allows companies to pay, receive and send bills with the click of a mouse, saving substantial time so companies can focus on growing their businesses. Companies can store all documents, related processes and transactions in one place, so financial stuff can be easily and securely accessed from anywhere, any time. Bill.com is the first and only low-cost bill management service that gives companies a real-time daily view of anticipated cash flow while simultaneously processing transactions. For more information visit www.Bill.com or watch the Bill.com Video.

Contact Information

  • Contact Info:
    Cathy Sperrazzo
    Eye-To-Eye Communications, Inc.
    858-565-9800
    Email Contact