Bill.com, the leader in online bill payment and invoicing for small- and medium-sized businesses (SMBs) and CPA firms, is pleased to announce it has been selected as an AlwaysOn OnDemand 100 Top Private Company for 2011, and has also been selected to demo at the prestigious FinovateSpring 2011 in San Francisco on May 10-11.
Bill.com combines financial document management, automated workflow, online bill payment,online invoicing, and easy customer payments via the Bill.com Payment Network, enabling businesses and their accountants to manage their financial tasks and optimize cash flow for a low monthly fee. By digitizing a process that is historically paper-based, time-consuming and error-prone, eliminating data entry and synchronizing with popular accounting systems, Bill.com is helping its customers save more than 50 percent of the time and cost of handling and paying bills. The company is also helping to reduce the estimated 48 billion account notices, statements and bills sent by businesses each year and converting $23 Trillion in paper checks written and mailed for B2B payments into electronic payments.
"We are honored to be recognized as an innovator and disruptor in the SaaS and financial services sectors by two such highly acclaimed organizations as Finovate and AlwaysOn," said Bill.com founder and CEO Rene Lacerte. "Bill.com has grown rapidly to manage more than $2 billion in SMB payments annually. We've achieved this milestone by innovating continuously and by staying focused on the fundamental belief that we can provide our customers a way to pay smarter and get paid faster through the elimination of dated financial processes. The industry acknowledgements serve as tremendous validation of our efforts to date, and there's much more in store for Bill.com in the time ahead."
This year's OnDemand 100 companies are top emerging Internet companies disrupting the established enterprise and pioneering cloud computing and SaaS. Bill.com joins a list of organizations that were selected based on a set of five criteria: innovation, market potential, commercialization, stakeholder value, and media buzz. As the digital information created by businesses continues to explode at astronomical rates, OnDemand 100 companies are providing the technology platforms and services needed to manage and leverage this new era of information complexity and overload. Bill.com has been recognized in the On-Demand Software—Business Management Applications category as one of the best services available today.
Additionally, for the second time in two years Bill.com will join a group of cutting-edge financial and banking technology innovators at FinovateSpring, a two-day showcase held in May in San Francisco and comprised of leading established companies and hot new startups. Bill.com is eager to share its success and expertise with admirable thought leaders in the emergent financial technology industry, while providing a glance into the innovative new products and ideas Bill.com will bring to the table in the short-term.
In February, Accounting Today, a leading financial trade magazine, named Bill.com to its annual list of The 2011 Top New Products, recognizing Bill.com Zen as one of the best new accounting and accounting-related products available.
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). # # #
Bill.com is an on-demand accounts payable and accounts receivable 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 Bill.com's Zen (Zero Entry) service winning Accounting Today's Best New AP/AR Product for 2011, 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 . Bill.com was recently named to the Red Herring Global 100.