Armanino Cuts Bill Pay Process Time for their Clients with Bill.com
Palo Alto, CA – Feb. 13, 2016 – Bill.com announced today that the Outsourced Finance & Accounting practice group of Armanino LLP, the largest independent accounting and business consulting firm based in California, has used Bill.com to introduce more efficiency into its clients’ accounts payable process.
Bill.com, the leading company creating magically simple business payments, has helped the firm reduce the time needed for bill pay each year by the equivalent of 9.6 work weeks. With the move to paperless bill pay with Bill.com, Armanino also saves its clients additional costs by eliminating supplies such as check stock, envelopes, printing cartridges and postage.
“As a firm, we are focused on introducing technology to improve efficiencies for our clients. Bill.com has helped on both fronts. Before using Bill.com, Armanino’s accountants spent an average time of 15 minutes per bill to complete the accounts payable process. The complete process included setting up vendors, processing the bills, printing and mailing the checks and responding to client and vendor questions. Using Bill.com, we reduced that time by an average of 30% or closer to 10 minutes per bill,” said David Miller, CPA, director of Armanino’s Outsourced Finance & Accounting department.
Armanino found that, with Bill.com, the processing time for each bill decreased from 3.67 minutes per bill to 2.33 minutes or from 1,032 hours a year total based on an average of 1,400 bills a month to 648 hours per year – the equivalent of 9.6 work weeks.
Armanino requires that all Outsourced Finance & Accounting services clients use Bill.com for business payments. The firm integrates Bill.com with QuickBooks Online, Xero and Intacct. The firm has also helped its clients to elevate internal controls around bill payments.
“Rather than have one client’s employee handle the bill pay process from beginning to end, Bill.com and its automated workflow enable a separation of duties. This additional level of security helps to protect companies from potential fraud,” explained Miller. “Additionally, the bill pay process isn’t paper-based, so checks no longer get lost on clients’ desks or come back. We can get approval online and have a bill paid within minutes compared to days or weeks with paper-based bill pay.”
“Industry-leading accounting firms like Armanino create a valuable competitive edge by increasing AP efficiencies within their operations and for their clients. The question is no longer, ‘Will we move to the cloud?’ The question is now, ‘How can we use the cloud to maximize benefits for the firm?’” said Tanya Roberts, vice president of corporate communications and accountant marketing. “With valuable integrations, document management and automated workflows, Bill.com simultaneously reduces time spent on bill payment while increasing transparency and collaboration.”
To try a risk-free trial of Bill.com, visit www.bill.com.
About Armanino LLP
Armanino LLP (www.armaninollp.com) is the largest independent accounting and business consulting firm based in California and one of the largest firms in the United States. Armanino provides an integrated set of audit, tax, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business from start-up through rapid growth to the sale of a company. Armanino emphasizes smart technology; leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. Armanino extends its global services to more than 100 countries through its membership in Moore Stephens International Limited – one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division—AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
Bill.com (www.bill.com) is the leading digital business payments company creating magically simple AP and AR solutions. We are at the center of business payments, uniting banks and businesses on the fastest growing payments network. Bill.com helps over 1,000,000 network members process over $26 billion in payments per year and saves companies up to 50 percent of the time typically spent on financial back-office operations by securely automating their end-to-end processes. Three of the top ten U.S. banks and 45 percent of the top 100 accounting firms rely on Bill.com as their primary payments solution. The recipient of more than 40 awards, Bill.com was recently recognized as one of the San Francisco Business Times’ Most Innovative Companies and proudly received a PC Magazine’s Editor’s Choice Award. For more information, please visit www.bill.com.