Now this certainly isn’t the first time I have looked at Bill.com. In fact, we have probably written about this company and their software more than almost any other (with the exception of Intuit and QuickBooks) over the entire lifetime of Insightful Accountant. It seems that Renė Lacerte, the CEO of Bill.com, and his team are always making some news-worthy changes to Bill.com features or benefits, which we try to let you know about. So, our coverage is relatively extensive.
But the problem is that our coverage is also piecemeal, from one or two actual product reviews, like our 2014 feature on Bill.com and Liz’s feature on QBO Bill Pay powered by Bill.com, to all the various articles on each of the expanded capabilities and new features we have covered. As such, I felt it was time to give you a ‘once over again’ look at Bill.com that is a more comprehensive review of their offerings.
Whether you're a brand-new small business or an established and growing mid-market company, whether you use QuickBooks Online or QuickBooks Desktop, Bill.com makes your bill payment processes more transparent, easier to control and less time consuming. When it comes right down to it, we are really talking about one company, but two different offerings; yet in reality they are both designed to accomplish essentially the same fundamental objective in terms of accounts payable. Yes, I know Bill.com does more than A/P (like Accounts Receivable), but that's a topic for another feature. For now, this feature will just focus on Bill.com for accounts payable.
Bill.com delivers financial process efficiency and greater control to accounting firms and their clients through streamlined and automated accounts payable management. Their smart platform reduces data entry by leveraging artificial intelligence. Bill.com automatically extracts data from invoices to create bills in real time and notifies you when action is needed. With flexible payment options like domestic ACH, international wires, and virtual cards, Bill.com makes it easier than ever to pay vendors however they want to be paid. And, the new Bill.com gets more intelligent as you use it, it’s AI is learning your processes and preferences to give you total control over every aspect of A/P management.
Because Bill.com was one of the very first companies to work hand-in-hand with Intuit to ‘internally integrate’ an App within QuickBooks Online, Intuit offers QBO users the ability to pay, track, and manage bills right inside when they subscribe to the Bill Pay for QuickBooks Online powered by Bill.com. Now you need to be aware that this isn’t the ‘full blown version’ of Bill.com, and it really isn’t intended for accountants needing to manage the payables for their clients, even if the accountant is accessing the client’s books via QuickBooks Online-Accountant.