PRESS DETAIL

Bill.com's simple yet powerful online A/P process delivers time and cost savings for businesses and accountants; provides web data access for Sage Peachtree users

Bill.com, the leader in paperless bill management and payment for small and medium-sized businesses (SMBs) and CPA firms, today announced the beta release of seamless integration with Sage Peachtree software, currently the accounting software of choice for more than 3.1 million customers in North America. With Sage Peachtree announcing plans to discontinue its Web Accounting service effective Nov. 30, 2010, Bill.com's new Sage Peachtree one-click, two-way synchronization bridges the gap by integrating front- and back-office finance functions via an award-winning Software as a Service (SaaS) platform. Accountants and SMBs now have a simple, powerful and cost-effective solution for managing the end-to-end accounts payable (A/P) process and bill payment both from the office and from the road.

Bill.com combines financial document management, one-click online bill payment, advanced fraud protection and cash management in an easy-to-use, highly affordable web-based solution. The service streamlines bookkeeping from bill submission through payment, enabling users to synchronize vendors and chart of accounts Bill.com and Sage Peachtree with the click of a button. Bills and payments made within Bill.com are synced back to Peachtree. The combination of Bill.com's web services and Sage Peachtree's desktop software eliminates duplicate data entry while ensuring consistency and quality across financial processes and reporting. The service also supports accounting firms with multiple clients utilizing separate data files.

Invoices are uploaded, emailed or faxed into the Bill.com system where data is automatically entered with 100 percent accuracy utilizing Bill.com Zen (Zero Entry). Bills can be viewed and approved online using any web-enabled device, enabling collaboration inside the business between finance teams and other personnel and with external accountants and bookkeepers. Throughout the process, users can instantly view digital images of past invoices and contracts and can schedule invoices for payment based on due dates and cash flow projections. In addition to paying bills automatically, Bill.com offers fraud protection services most small businesses would not be able to implement on their own.

"With Bill.com's Sage PeachTree synchronization, Wegner has greatly reduced our data entry time on both bills and bookkeeping," said Heather Richter, senior accountant, Wegner LLP. “The Bill.com sync ensures that the information in Peachtree is entered correctly, and greatly reduces the potential of errors and double entry."

"Bill.com was created by people who run small businesses and understand the complexities of marrying the processes, documents, payments, accounting and collaboration to achieve real efficiencies in the A/P and bill payment processes," said René Lacerte, CEO of Bill.com. “By integrating seamlessly with Sage Peachtree and providing always-on online access through any web-enabled device, our customers eliminate data entry, eliminate paper, and automate the workflow and payment processes, saving time and money. Users also gain full transparency into every document, decision and dollar to better run their business, or help their clients run their business, more effectively."

Key Benefits of Sage Peachtree Integration

Sage Peachtree Sync for Bill.com provides an easy, automated way to keep vendors, chart of accounts, payables, and payments synchronized without requiring manual import/export steps or data entry. Benefits include:

  • Once you start using Bill.com you'll have anytime, anywhere online access to payables both from the office or in a mobile environment
  • Paperless multi-user A/P workflow utilizing digital images of invoices and other financial documents for both financial and non-financial users to access
  • One-click, flexible payment methods including check, Bill.com ePayment (ACH), and instant payments via PayPal which eliminate the need to print, sign, and mail checks
  • Enhanced check management, including advanced fraud protection previously only available to large enterprise organizations
  • End-to-end visibility of A/P processes, including easy access to all financial records involved in every transaction
  • Unlimited digital storage for bills and financial documents

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).

Pricing and Availability

The Bill.com Peachtree Sync Beta is available immediately with general release expected in Q1 2011. The feature is free with any Bill.com account.

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