Press Room

October 24, 2011

Bill.com Bolsters Customer Experience and Brings Online Invoicing and Payments 360-Degrees with Significant Product Enhancements

First-of-its-Kind eBilling Functionality and New User Interface Updates Make it Easier than Ever to Pay Bills and Get Paid Online; No Spreadsheets or Stamps Required

PALO ALTO, CALIF. - Oct. 24, 2011 - Bill.com today announced new product enhancements that make it incredibly easy for businesses and accounting firms to pay bills, receive payments and manage cashflow online. With the rollout, Bill.com is bringing online invoicing and bill payment 360-degrees by making digital money transfer between payers and payees effortless while simultaneously eliminating the need for paper-based financial systems, tedious data entry and reliance on the US Postal Service.

New eBill Functionality Makes the Move to Online Invoicing and Bill Payment Seamless

With Bill.com's new eBill functionality, when both payer and payee are utilizing the Bill.com platform, sending electronic invoices and making online payments is a snap. eInvoices can be generated by the issuing party using Bill.com or their preferred accounting software, and they instantly convert into eBills - along with any supporting data or attachments required - in the payer's system, ready for review, acceptance, approvals and payment.

Once the ePayment is issued, it is automatically applied to the payee's eInvoice and to the payer's eBill with no manual work required. Even better, the entire process syncs with leading accounting packages such as QuickBooks, Peachtree, Netsuite and Intacct, even if the payer and payee are on different systems, ensuring all transactions are properly documented while eliminating tedious data entry entirely for both parties.

"To date, eBilling and eInvoicing solutions have been complex and only available to Fortune 2000 companies," said Rene Lacerte, founder and CEO of Bill.com. "As businesses of all sizes seek to gain efficiency in their financial processes, we aimed to provide a product that meets the needs of businesses where they are today and makes the transition to online bill payment and management a seamless one. Bill.com is providing a way for our customers to help their vendors participate with a low learning curve and a free portal to ease the friction of adoption."

"eBill cuts out the extra step of turning an invoice into a PDF and guarantees invoices are created correctly and delivered instantly," said Chris Fenster of Propeller Industries. "Our vendors are finding it enables them to pay more efficiently, eliminate errors and reduce the time spent scanning and handling documents. It's all automatic, so we're getting paid faster than ever before."

User Interface Enhancements Streamline the Bill.com Experience

Bill.com is also introducing a number of User Interface (UI) updates to enhance the overall look and feel to make it even easier to use. The new UI was incorporated based on direct customer feedback, striking a unique balance of functionality and style. It includes an improved navigation layout, easier and faster access to key features and a more streamlined use of real estate that also sets the console for accountants up for planned future growth. Access to key buttons such as Help, Settings and Sync are now always a click away, and quick access to customer lists and profile information are readily available, making the award-winning Bill.com user experience even better than before.

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About Bill.com
Bill.com is an on-demand accounts payable and accounts receivable application for businesses of all sizes and has a tailored product for accountants and bookkeepers. With Receivables, Bill.com users can send custom invoices, collaborate with customers and receive electronic payments that automatically sync to their existing accounting software programs. They can also receive, route and pay invoices electronically resulting in time and cost savings of over 50 percent versus manual accounts payable and check writing processes. Bill.com uses enterprise-class fraud protections and 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 Bill.com's Zen (Zero Entry) service winning Accounting Today's Best New AP/AR Product for 2011, a 2011 Innovation Award from CPA Technology Advisor, a 2011 Intuit App Showcase award, and a 4-star rating from PC Magazine.

Media Contact:

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

Allison Yochim
Ruder Finn
+1 415 348-2724
yochima@ruderfinn.com