Press Room

September 8, 2010

Bill.com Offers Zen to Relieve Businesses and Accountants of Tedious Data Entry

New automated service helps small and midsized businesses and accountants save time and money by eliminating the tedious process of typing bills and maintaining vendor information in banking and accounting systems

PALO ALTO, CA — Sept. 8, 2010 — Bill.com, the leader in paperless bill management and payment for small and medium-sized businesses (SMBs) and CPA firms, today announced the launch of Bill.com Zen (Zero Data Entry), a powerful service that brings the formerly cumbersome and error-prone data entry process for business bill payment into the digital age. Available immediately, Bill.com Zen helps businesses and accounting/bookkeeping firms save time and money by eliminating the process of manually typing data into disparate banking or accounting systems and automatically maintaining important vendor information.

With Bill.com Zen, users simply fax, email, or upload bills into their Bill.com account and are notified by email when their bills are ready to review and pay, accuracy guaranteed. Bill.com automatically records information such as invoice number, invoice date, due date, payment terms, and payment amount and synchronizes with the users' accounting system so there is no need to type bill information into a spreadsheet or accounting system ever again. And, Bill.com Zen automatically updates vendor remittance information if an account number or payment address changes, ensuring that any new vendors are added to the system automatically. This saves businesses and accountants from wasting time verifying payment information on every bill or incurring late charges and bank fees from payments sent to the wrong address.

"Bill.com Zen has literally saved me hours and hours of time that I would have spent inputting data. In a small business, those hours translate directly to hundreds of dollars saved," said Suzanne Price, CEO of Sprout San Francisco. "We are a retail store with over 100 vendors, so inputting the invoice data and addresses for every vendor on every bill we pay would have taken a lot of time. Instead, once I send the invoice to Bill.com, I get an email the next day and all of the information is entered for me. It is such a relief!"

"Business bill payment is a process not a transaction," said Jeff Schultz, VP of Marketing at Bill.com. "Too many small and midsized businesses and accounting firms waste time managing mundane tasks such as data entry that keep them away from what matters most — running their business. Bill.com Zen eliminates data entry and ensures that businesses records are up to date automatically. Along with the rest of Bill.com's collaboration and unique payments capability, businesses and their accountants are managing day-to-day finances more efficiently than ever."

Bill.com Zen Driving Efficiency and Profitability for Accounting Firms

More and more, accounting and bookkeeping firms are looking for ways to offer more value to clients and increase client retention while keeping their own operations streamlined and efficient. Bill.com with Bill.com Zen enable these firms to focus on the services their clients value the most, making it easy to collaborate with clients and eliminate unnecessary manual tasks that can cause errors, increase risk, and limit scalability of the firm.

"Accountants should use Bill.com Zen if they do outsourced bookkeeping because they can use the technology to move themselves to a different level, where they provide value-added services such as better bookkeeping, better management reporting and better financial advice," said Pat Carson, Owner of Carson and Crew. "Bill.com Zen is an awesome way to stay away from the repetitive stuff and not spend time doing the grunt work that technology can do for you."

Bill.com is offered to the accounting profession exclusively though the Bill.com Accountant Program from CPA2Biz, a subsidiary of the American Institute of Certified Public Accountants (AICPA).

"When we speak with accountants about how they distinguish themselves with clients in an increasingly competitive climate, shuffling paper and entering data are not on the top of the list," said Schultz. "Leading-edge accounting and bookkeeping firms are increasing client retention using tools like Bill.com and Bill.com Zen. They are able to increase controls and deliver more value without taking on additional manual tasks or risk."

Pricing and Guarantee

Zen guarantees complete accuracy and security for both customer and vendor information and backs up its claim by offering to reimburse any fees or penalties if any payment errors occur due to incorrect payment information. It is available as an on-demand option to new and current Bill.com customers and accountant clients for just 99 cents per bill.

Additional details on Zen as well as sign up information are available at http://www.bill.com/product/zen-faq.php.

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, a 2010 Barlow Monarch Innovation Award for innovation in financial services, and was recently named to the Red Herring Global 100.

Media Contacts:

Jeff Seedman
Ruder Finn
+1 415 249 6763
seedmanj@ruderfinn.com

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Matt McLernon
Ruder Finn
+1 415 249 6775
mclernonm@ruderfinn.com