Commerce Bank Partners with Bill.com to Reinvent Business Payments
Palo Alto, Calif. -- July 24, 2017 -- Bill.com, the leading business payments company, today announced it is working with Commerce Bank to reinvent business payments. Commerce Bank is now offering “CashFlow Complete,” an easy, AP and AR automated service powered by Bill.com Connect, the company’s new banking payments platform. With CashFlow Complete, Commerce delivers a banking experience with the power, simplicity and visibility small and medium sized businesses need to manage cash flow and payments digitally.
“We believe true banking innovation can be found in the form of collaborations like this one, and we are very excited to be partnered with Commerce. Together we are delivering a new kind of banking experience designed to meet the needs of modern day businesses,” said René Lacerte, CEO, Bill.com. “Commerce is an innovative bank with over 150 years of experience building customer relationships. CashFlow Complete unites this success with digital tools that help small business customers easily manage their cash flow and automate their end-to-end payments in a central platform.”
Despite more business and financial services coming online, a majority of businesses still use paper checks. Consumers have benefited from digital payment solutions, but many businesses have been left behind without a modern solution that meets their unique needs. As a result, banks have the opportunity to reestablish and redefine what banking means for small businesses. In fact, a recent survey conducted by Bill.com found that nearly half of all small businesses in the Midwest are looking for more digital tools from their bank.
CashFlow Complete is powered by Bill.com Connect, the revolutionary business payments platform that helps banks serve businesses better. CashFlow Complete gives Commerce Bank customers greater visibility and control of their cash flow in a central platform, which allows users to send and receive electronic payments, eliminate paper, manage approvals digitally and seamlessly integrate with accounting software. Commerce Bank customers will also be able to join Bill.com’s payments network, which helps over 2 million members across the U.S. process more than $36 billion annually.
“Cash flow is one of the biggest pain points among our small business customers. CashFlow Complete is a natural extension of our small business suite of online services and we’re excited to work with Bill.com to better help our customers grow their business,” said Matt White, director of commercial and small business strategy, Commerce Bank.
To learn more or to sign up for CashFlow Complete visit here.
Bill.com is the leading business payments company helping over 2M members process $36 billion in payments annually. Bill.com saves companies over 50% of the time typically spent on financial back-office operations by automating end-to-end processes. Bill.com helps businesses connect and do business by tying together finance and accounting programs, banks, customers, vendors, accounting professionals, and documents. The company is the choice of 3 of the top 10 U.S. banks; leading accounting software providers QuickBooks Online and Xero; and over 50 percent of the top 100 accounting firms. It is the only business payments solution endorsed by the American Institute of CPAs (AICPA). The recipient of more than 70 awards, Bill.com proudly received multiple PC Magazine’s Editor’s Choice Awards and CEO René Lacerte was recently recognized as an E&Y Entrepreneur of the Year.
About Commerce Bank
Commerce Bank is a subsidiary of Commerce Bancshares, Inc. (NASDAQ: CBSH), a $25.1 billion regional bank holding company, as of June 30, 2017. For more than 150 years, Commerce has been meeting the financial services needs of individuals and businesses. Commerce provides a full range of financial products to consumer and commercial customers, including personal banking, lending, mortgage banking, wealth management, brokerage and capital markets services. Commerce operates in more than 330 locations in the central United States and has a nationwide presence in the commercial payments industry.
For additional information, please visit www.commercebank.com.