How CEOs Use Bill.com
Who uses Bill.com? That’s a question we often hear from businesses interested in accounts payable automation. Since we offer essential small to mid-size business tools such as ACH payments, workflow approval and much more, many people assume it’s mainly financial professionals who work with Bill.com. But in fact, many CEOs consider Bill.com an important component in their accounts payable and accounts receivable process.
Based on the stats we’ve collected and analyzed, here’s why—and how—CEOs use Bill.com.
No one likes to pay the bills. Solutions like Bill.com can make it easier by introducing accounts payable automation, payment workflow approval, and the ability to pay with modern methods such as ACH and PayPal.
Bill.com takes a cumbersome AP process and cuts the time it takes by 50%, letting CEOs focus on more high-value priorities rather than reviewing invoices and signing checks. It adds order by storing relevant documents online and offering automation. It accommodates busy schedules by letting executives approve payment from any connected device–laptop, PC, tablet or mobile. There’s no need to drive into the office and sign physical checks – or delay payment until an executive can do so.
One more benefit: An accountant reported that his clients’ CEOs now catch invoice overcharges and question vendor services more now that they use Bill.com.
Bill.com applies the same philosophy of automation to accounts receivable. By streamlining the invoicing process, CEOs are allowed to focus on more high-value priorities. With AR automation, invoices are sent out automatically to customers. With a digital solution they have the option to pay via a variety of choices such as PayPal, ACH or credit card. Even better, customers can set up auto-payments which add an extra layer of stability to cash flow.
Manage and Track AP and AR
CEOs rely on Bill.com to track AP and AR activities. With one login, they access a dashboard that shows the status of payments both sent and received. There’s no need to hunt down team members to ascertain the status of review or payment. No need to pay late fees. There’s even a cash flow management tool in Bill.com that helps them leverage predicted company performance for making important decisions.
If you’re a CEO, it’s time to learn more about Bill.com.