The Challenge of Online Business Payments
Until now, bank offerings have not effectively supported the payments management needs of small and mid-sized businesses (SMBs).
Online services have been either too simplistic (consumer solutions) or too complex and expensive (large corporate services).
As a result, 80 percent of SMBs still use manual and redundant paper-based processes for managing their accounts payable and accounts receivable, creating an enormous opportunity for banks and other financial institutions.
The Bill.com Banking Platform solves the SMB online payment challenge for banks
- End-to-end management of accounts payable and receivables processes
- Complete visibility into cash flow and payment transactions
- Cloud-based, providing customers mobile and anytime, anywhere access to files and data
- Works seamlessly with popular accounting software
- Open, flexible APIs for deep integration with bank applications and systems
- Industry’s largest and fastest growing business payments network
The Bill.com Banking Platform helps banks become the center of their business customers’ online payables and receivables tasks
- Gain additional revenues from increased payment transactions and other service fees.
- Attract and retain valuable business customers with a unique, “sticky” service.
- Build and differentiate your brand by making financial management far easier and less costly.
- Earn trust and loyalty with a highly cost-effective and valuable service that simplifies your customers’ lives and helps their businesses be more successful.
The Bill.com Banking Platform makes it easy for banks to transition business customers to online electronic payments
The Bill.com business payments network converts more than 60 percent of its members’ transactions from paper-based checks to electronic payments.
Our customers represent a wide mix of businesses with annual revenues of less than $100,000 to more than $25 million.
Partner with Bill.com as best suits your business
- Choose your level of integration — customize features and functionality for your online operations.
- White label interface to fit your digital look and feel — fully represent your bank brand.
- Ensure industry leading security and privacy protections — our experts work with you every step of the way to ensure data safety and regulatory compliance.
Bill.com customers gain substantial operational benefits
Businesses report typically reducing administrative burdens by 50-75% and getting their invoices paid 2-3 times faster.
The Bill.com business payments platform helps businesses:
- Automate the bill approvals and payment process
- Speed payments from customers
- Protect against fraud
- Simplify check approval and signing tasks
- Maintain a consistent and comprehensive audit trail
- Gain complete visibility into processes and cash flow — instantly view and retrieve any transactions and related documents
- Reduce bookkeeping tasks — automatic syncing with leading accounting software
The Bill.com Network
Bill.com is the largest and fastest growing business payments network
- Customers include more than 500,000 business professionals and 1,500 accounting firms.
- Last year the Bill.com business payments network processed more than 10 million transactions worth $12 billion.
- Transaction volume on the Bill.com payments networks is increasing more than 100 percent per year.
- 3 of the top 10 U.S. banks are now deploying or piloting the Bill.com Banking Platform.
- Bill.com investors include some of the most important brands in business banking and finance, including Bank of America, Fifth Third and American Express.