Boca Raton, Fla.,17th ANNUAL SMALL BUSINESS BANKING CONFERENCE — Bill.com, the leader in integrated bill payment, invoicing, and cash management solutions for businesses, today introduced the next major milestone in its banking platform. Bill.com has added broad integration capabilities to its cash flow-centric banking platform for banks and their small and mid-size business (SMBs) customers. Bill.com enables banks to develop additional revenue streams and increase customer acquisition and retention by offering business customers a powerful accounts payable and accounts receivable service. More than 100,000 companies are now getting paid and paying millions of bills, worth billions of dollars, using Bill.com. Bill.com is the only solution that empowers businesses to have full command and control over their cash flow at any time, from any location or device.
Current business banking solutions are limited to transactional payment processes. This leaves businesses of all sizes with the need to use disconnected bill payment and accounting solutions to gain control of their finances. The result is a cumbersome process plagued by inefficiencies, security risks, and errors. In contrast, Bill.com is the only solution that puts banks at the core of their customers’ business. Bill.com allows banks to integrate the Bill.com solution with their own platform, creating their own branded offering. Bill.com empowers banks to own the entire cash flow management process—from payables and receivables, to cash flow visualization. Bill.com makes banks the focal point for all of their customers’ transactions, letting banks monetize the full cash management process while solving a significant pain point for SMBs by finally automating and connecting all of their financial processes.
“Just as CheckFree helped banks revolutionize the consumer payments industry, Bill.com is now enabling banks to do the same for their business customers’ cash flow management and payments processes,” said Mark Johnson, former Vice Chairman of CheckFree Corporation and current Bill.com board member. “Bill.com understands the problem banks have faced trying to cobble together a business solution from their consumer offerings. Bill.com has fixed the problem via an integrated, efficient platform that helps banks win customer loyalty and brings them the ability to earn additional revenue.”
The Bill.com Banking Platform is based on six key components, all of which offer new and unique features. With this newest release of the Banking Platform, Bill.com has enabled API access to each of the components of the platform. These APIs enable banks to seamlessly integrate with their banks’ SMB offerings, giving SMBs a seamless, cash-flow centric approach to running their businesses.
These components are:
“Bill.com has already revolutionized how small and mid-sized businesses work and now we are transforming how they bank,” said René Lacerte, founder and CEO, Bill.com. “We built the Bill.com Banking Platform based on direct feedback from banks, who told us that their current systems just couldn’t meet their business customers’ needs. We are glad to be helping banks turn the old banking paradigm on its ear, by making banking solutions cash flow centric. The result will be banking solutions that work the way businesses do.”
The Bill.com cash flow command and control system is the only solution that makes banks the core of their customers’ business. By allowing banks to integrate the Bill.com solution with their own platform, Bill.com empowers banks to own the entire cash flow management process—from payables to receivables to cash flow visualization. Bill.com makes banks the focal point of all their customers’ transactions, letting banks monetize the full cash management process while solving a significant pain point for SMBs by finally automating and connecting all of their financial processes. The award-winning Bill.com platform is being embraced by banks because it creates significant new revenue streams while enhancing customer loyalty and satisfaction.
About Bill.com
Bill.com is a cash flow command and control system that manages accounts payable and receivable for businesses of all sizes. Offering online bill pay, custom invoicing services, unlimited document storage, collaboration tools, and mobile access, Bill.com's services easily sync to users' accounting software programs and online bank accounts to better control company financials. Bill.com guards against errors and employs enterprise-class fraud protections that current methods cannot match. More than 100,000 users are now getting paid and paying millions of bills, worth billions of dollars, using Bill.com.